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Fighting Financial Fraud in an Increasingly Digital World

Everywhere we look, we see some form of digital technology. People have access to computers, cellphones, televisions and even Wi-Fi-enabled smart appliances. Technology advances every day, giving way to exciting, innovative and life-changing experiences. Take cellphones, for example. Not too long ago, cellphones were a luxury. They were used simply to call p
Publish At:2017-08-22 09:30 | Read:112 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Financial Frau

All in a Spammer’s Workweek: Where Do the Busiest Spammers Work Around the Clock?

IBM X-Force Kassel is a research team that operates massive spam honeypots and monitoring, gleaning data from billions of unsolicited emails every year. With such large amounts of spam coming in, we can more easily map trends. We looked at one recently when analyzing the spammer’s workweek. Our goal in this analysis was to delve into six months of data
Publish At:2017-08-21 15:05 | Read:76 | Comments:0 | Tags:Advanced Threats Fraud Protection Threat Intelligence IBM X-

Protecting Against Spam and Phishing Attacks With a Layered Approach to Email Security

Layered schemes are used in most information security strategies, and it is essential to establish a similar approach to protecting the organization from unwanted email. In fact, spam and phishing are some of the biggest problems IT security managers face today. According to LinkedIn’s “2017 Cybersecurity Trends Report,” phishing attacks ar
Publish At:2017-08-17 19:00 | Read:178 | Comments:0 | Tags:Fraud Protection Risk Management Email Fraud Prevention Phis

Advanced Approaches to ATM Network Protection

End-to-end automated teller machine (ATM) network protection encompasses multiple security layers. Is it not enough to simply protect ATM endpoints to ensure the security of a bank’s finances. Instead, security teams at financial institutions must take a more advanced approach to ATM network protection. ATM security has always been a hot-button issue
Publish At:2017-08-11 15:05 | Read:252 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Network Securi

Where Are They Today? Cybercrime Trojans That No One Misses: Shifu Malware

This is the first installment in an ongoing series about banking malware that faded away in 2017. Cybercrime is a very dynamic threat landscape. With over 100 million malware strains tracked by AV-TEST in 2016, malware can be a dime a dozen. When it comes to the more organized cybercrime groups and sophisticated banking Trojan projects, malware families are
Publish At:2017-08-08 16:20 | Read:199 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Malware Threat

Ransomware, Trojans and Fraud, Oh My! Tracking Recent Cybercrime Trends and Patterns

Throughout the years, banks have expanded their services by offering an ever-evolving set of online capabilities. As a result, financial institutions have become an obvious target for cybercrime and have been quick to deploy various layers of protection to keep their customers safe. Cybercriminals are looking for online money to grab as a day job. Many opera
Publish At:2017-08-07 21:55 | Read:208 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Authentication

To Fight Cybercriminals, Follow the Money Trail

Follow the money! That is the famous first rule for investigating white collar criminal activity. It should also be the first rule for protecting your organization from a data breach, ransomware attack or other malicious activity. A basic fact of modern cybersecurity life is that the lone hacker of yore has long since vanished, replaced by sophisticated cy
Publish At:2017-08-01 18:05 | Read:197 | Comments:0 | Tags:Fraud Protection Network Cybercrime Cybercriminals Dark Web

After Big Takedown Efforts, 20 More BankBot Mobile Malware Apps Make It Into Google Play

A flashlight app, fake videos or a fake gaming app? Any one of those could be malicious and harboring a mobile malware app, right there in a trusted official app store. In an ongoing trend, IBM X-Force noted that malicious apps manage to circumvent controls and infiltrate legitimate stores. And this is not about the plethora of adware apps infecting users in
Publish At:2017-07-28 03:30 | Read:207 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Malware Mobile

Psychological Security: Helping Your Team Think Like Cybercriminals

Chance favors the prepared mind. That’s what famous chemist Louis Pasteur once said, but it’s also an important principle that applies to psychological security. Remember back in middle school when name-calling was a way we expressed our emotions? You’ll likely recall the common response: “It takes one to know one!” It Takes a
Publish At:2017-07-27 00:40 | Read:174 | Comments:0 | Tags:CISO Fraud Protection Cybercrime Cybercriminals Penetration

The Evolution of Digital Certificates

In the early days of the internet, one of the first functional problems users faced was how to verify that entities on the other end of a connection were who they said they were. At first, the nebulous nature of online transactions inhibited e-commerce, since buyers feared that their payment information might be hijacked. This lack of trust precipitated the
Publish At:2017-07-25 11:50 | Read:157 | Comments:0 | Tags:Fraud Protection Identity & Access Authentication Certificat

TrickBot Habla Español: Trojan Widens Its Attack Scope in Spain, Brings Redirection Attacks to Local Banks

The TrickBot Trojan has been steadily ramping up its activity this year, going into a rather intensive period of updates and attacks that started in Q2 2017. From the looks of it, TrickBot’s operators have been investing heavily into widening the scope of their attacks and are preparing redirection attacks against banks in 19 different countries. After
Publish At:2017-07-19 08:05 | Read:256 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Malware Threat

Uncover Omnichannel Fraud Faster

Today, banking is easier than ever. Customers can engage with their financial institutions through multiple channels and devices. These diverse banking methods and behaviors are fantastic for customers, who can seamlessly make payments and deposits, check their balances, and transfer funds from any device or channel from anywhere and at any time. This omnich
Publish At:2017-07-18 13:40 | Read:111 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Financial Frau

How Virus Protection Software Has Evolved With the Threat Landscape

John McAfee turned some heads in the security community two years ago when he declared that the virus protection software industry, which he is widely credited with creating 30 years ago, is dead. “In 1987, new applications for the Windows platform were being developed and released at a rate of about one new application per month,” he wrote. &#
Publish At:2017-07-17 19:15 | Read:248 | Comments:0 | Tags:Endpoint Fraud Protection Antivirus Malware Security Service

Is Blockchain the Key to Stopping Ransomware Attacks?

We all remember the devastating WannaCry ransomware attack that struck organizations around the world in May 2017. The attack spread at a rate of almost 3,600 computers per hour, or about one per second. When all was said and done, the ransomware infected more than 300,000 devices. Many victims simply paid the ransom to retrieve their locked files. This only
Publish At:2017-07-13 23:10 | Read:205 | Comments:0 | Tags:Fraud Protection Best Practices Bitcoin Blockchain Cryptocur

Funny Money: Exploring the Connection Between Bitcoin and Ransomware

After the WannaCry attack, no fewer than five threat research companies pounced on the fact that the ransomers were demanding to be paid in bitcoin. However, they completely glossed over the concept behind the malware itself. Within days, theorists came out of the woodwork to characterize the attack as some kind of subtle terrorist or government-backed opera
Publish At:2017-06-27 20:30 | Read:221 | Comments:0 | Tags:Data Protection Fraud Protection Bitcoin Black Market Crypto

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