When evaluating and implementing fraud prevention technologies, most security professionals focus on only the fraud avoidance capabilities. They often overlook the potentially significant adverse impact on customers' experience and operational costs. Good fraud prevention solutions must be effective at identifying and...
IBM commissioned Forrester Consulting to conduct a Total Economic Impact study and examine the potential return on investment (ROI) enterprises may realize by deploying IBM Trusteer solutions. The purpose of this study is to provide readers with a framework to evaluate the potential financial benefit of IBM Trusteer...
Consumer-serving industries are under continual attack, as cybercriminals find that the interface between the customer and the retail outlet is where the money is. The assault is occurring on all fronts, be it through the physical point-of-sale or ecommerce gateway, the enterprise and its supply chain, or the customer...
Data breaches feed the market for fraudsters to steal identities, which challenges traditional approaches to identifying the genuine from the fraudster. We hear that knowledge-based authentication is dead. But trust in any single defense is flawed. No single route to "trust" should be applied. We should never lose...
The title of the new book is Understanding Social Engineering Based Schemes. And its mission is three-fold, Jakobsson says. He wants to profile today's most common schemes, forecast some future trends, and help organizations build effective countermeasures.
In an interview about the contents of his new book,...
When it comes to describing the top fraud threats to U.K. financial institutions, it's all about compromised identities and credentials, says John Marsden of Equifax. How can organizations prove their customers are who they say they are?
In an interview about fighting fraud by authenticating identities, Marsden...
IoT devices running the authentication protocol OpenSSH are being compromised and used as proxies in attacks that aim to take over accounts at popular web services, according to new research from Akamai.
Fancy Bear strikes again: the suspected Russian hacking group released confidential medical records for four U.S. Olympic athletes, falsely contending the documents prove illegal drug use by the Olympians.
Biometric authentication has emerged as one of the more convenient methods of authentication, particularly with the increasing ubiquity of mobile devices with a variety of high quality sensors. Financial institutions can realize cost savings and improved customer experience by deploying biometric authentication. This...
The landscape of corporate and retail payments across channels such as mobile and online, and including emerging products such as Apple Pay provide both customer convenience and satisfaction. Yet, these new channels and technologies also create opportunities for fraudsters to exploit. In this session we'll present...
The 2015 ABA Deposit Account Fraud Survey is the eleventh biennial industry study conducted by the American Bankers Association on the topic of deposit account fraud. For over two decades, this ABA survey series has collected detailed DDA fraud information across traditional and emerging banking channels. With...
The breach of an offshore account owned by Union Bank of India is raising new questions about the security of interbank payments, which often rely on antiquated backend verification processes that fraudsters seem to be compromising with relative ease.
An investigative report from Reuters paints a disturbing picture of the Federal Reserve Bank of New York using antiquated security practices to safeguard interbank SWIFT payments. Here's how security experts say interbank transaction security must be improved.
Cybercriminals are sneaking banking Trojans onto systems via the legitimate remote-access tool Ammyy Admin, researchers at Kaspersky Lab warn. The attacks are a reminder to watch for legitimate applications that may have been Trojanized.
Banks spend billions of dollars in defensive measures trying to detect fraudulent transactions and recover funds before they disappear. However, given the increasing sophistication of malware and phishing attacks, and the growing number of threats, many banks are finding that traditional endpoint protections, such as...
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