The Justice Department has seized PopeyeTools, a notorious cybercrime marketplace, while announcing criminal charges for three alleged operators behind the website, which generated over $1.7 million in revenue, according to a Wednesday announcement.
Gartner has recognized Entrust, Incode, Jumio, Socure and Sumsub as identity verification leaders amid a rise in regulatory demands and fraud prevention requirements. Identity verification was historically used for regulated onboarding in industries like banking, gambling and cryptocurrency.
KYC protocols traditionally focus on account-level verification, but examining KYC at the product level can help banks assess risk more accurately. Asking targeted questions based on product risk enables institutions to detect potential financial crimes, said Gabriella Bussien, CEO of Trapets.
ISMG’s 2024 Financial Services Cybersecurity Summit kicks off Thursday in New York City, bringing together industry leaders and cyber experts to explore critical defense strategies, including digital identity protection, SecOps transformation and realistic threat simulations.
The insurance industry faces rapidly changing fraud tactics from sophisticated cybercriminals, and identity theft and synthetic fraud are becoming critical challenges. Experts discuss how cybercrime complicates fraud detection and share lessons the insurance industry can learn from banking.
Your secret weapon to combat cyber threats might be just under your nose! Cybercriminals continue to exploit vulnerabilities while upping their game with new and more sinister attack methods. The human firewall is your cybersecurity ace in the hole.
But how resilient are your users when it comes to fending off...
Account takeover fraud in the financial services industry is declining in contrast with other industries such as retail and hospitality. Researchers at Human Security attribute the nearly 50% reduction to one of the basic controls in cybersecurity: multifactor authentication.
Who's responsible for the data breaches experienced by customers of the data warehousing platform Snowflake due to credential stuffing attacks? While users have security responsibilities, multiple platforms - including Snowflake - have shortcomings they must urgently address.
Fewer victims reported identity crimes in 2023, but the number of attempts to commit multiple identity crimes grew, according to the trends report released by the Identity Theft Resource Center. That means criminals are diversifying their methods and attempting to perform multiple types of misuse.
Social engineering and phishing are not just IT buzzwords; they are potent threats capable of causing devastating damage to your organization. Bad actors and the technology they use to infiltrate your defenses are evolving at lightning speed. The only way to safeguard your assets and data is to stay ahead of the game...
The need to build out, deploy, and constantly adapt advanced fraud protection while maintaining the customer experience on the channels they love is in demand more now than ever before.
Learn how authentication safeguards your business in real-time from cyber fraud attacks, real-world examples of personalised...
As account opening fraud and mule accounts rise, financial institutions are embracing identity-centric authentication. Two fraud experts, Ken Nolen of Golden 1 Credit Union and Tim Chambers of Mission Omega, said banks can no longer rely on transaction-based authentication alone.
Banks lose tens of billions of dollars every year to credit card fraud, bad checks and intentional loan defaults, but the main culprits are not third-party scammers. Most of these crimes are being committed by the bank's customers, making detection and prevention a formidable challenge.
Synthetic identity fraudsters target the auto lending industry the most, leading to a 98% increase in attempts and a staggering $7.9 billion in losses for the industry in 2023, according to a new study of 180 million loan applications by fraud solution vendor Point Predictive.
More and more in society, deepfake technology leverages artificial intelligence to create convincing fake audio and video clips and is evolving rapidly. These technologies not only pose significant threats to personal and organizational cybersecurity programs, but also present unique challenges and opportunities in IT...
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing careersinfosecurity.co.uk, you agree to our use of cookies.
