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Open Banking Is Here — Is Your Bank Positioned to Lead?

Banking is set to significantly change as Payment System Directive 2 (PSD2) regulations are introduced across Europe. In fact, open banking regulations are being considered in a number of regions around the world. The directives will require financial institutions to adopt open banking by safely and securely allowing customers to view account information and
Publish At:2017-11-01 18:45 | Read:134 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Risk Managemen

Don’t Be Catfished: Protecting Yourself From New Account Fraud

Catfishing, the practice of pretending to be someone else online, became a cultural phenomenon through MTV’s popular TV show “Catfish,” driving more attention to our obsession with our online personas. However, it’s not just social media that needs additional scrutiny. In the wake of several recent major data breaches of personally id
Publish At:2017-11-01 00:20 | Read:286 | Comments:0 | Tags:Fraud Protection Identity & Access Fraud Fraud Detection Fra

Massive Identity Data Exposure Leads to Rising Tides of New Account Fraud — What’s Next?

Financial online fraud and the fuel that feeds it has been growing steadily over the past decade, resulting in losses to banks, businesses and individuals, especially with cases of new account fraud (NAF). The challenge online service providers face nowadays is not only an increase in NAF, but also in NAF’s sophistication and the difficulty to detect
Publish At:2017-10-31 05:50 | Read:152 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Identity & Acc

Investigating IoT Crime in the Age of Connected Devices

People are beginning to get used to the easy life enabled by smart homes and the Internet of Things (IoT), but they are at risk if they do not prioritize security. The IoT has increased quality of life for many; it has helped the differently abled and the elderly to continue living independently and laid the technological groundwork for another industrial re
Publish At:2017-10-27 14:00 | Read:183 | Comments:0 | Tags:Fraud Protection Mobile Security Security Intelligence & Ana

Grandma or the Wolf? Red Gets Smart About Fraud Protection

Little Red Riding Hood is stressed out. A job in fraud protection is no picnic — far from it. As the digital banking fraud manager for Fairy Tale Bank, she’s constantly assessing her customers to make sure no fraudulent activity is occurring. After all, fraud is no myth — it’s as real as can be. If Red has her way, her customers will stay safe al
Publish At:2017-10-23 17:50 | Read:161 | Comments:0 | Tags:Fraud Protection Topics Fairy Tales Fraud Fraud Detection Fr

Pick a Card, Any Card: Deception, the Human Mind and the Social Engineering Challenge

Even as the technology deployed by both cyberattackers and cybersecurity defenders grows more sophisticated and powerful, the central role of the human factor remains critical. The most effective way to break into a computer network is to trick a legitimate user into opening the door to let you in. The techniques used to achieve this trickery are known as so
Publish At:2017-10-22 05:00 | Read:222 | Comments:0 | Tags:Fraud Protection Fraud Prevention Phishing Phishing Attacks

Cybercrime’s Cryptocurrency Gold Rush: Going Strong!

What’s the connection between cybercrime and cryptocurrencies? Perhaps it would suffice to say that the reasons for criminals adopting the cryptocoin are quite obvious. But when did this all start, and what fuels it and gets fueled in return? This blog will go over some of the historical reasons that connect cybercrime and cryptocurrency as well as exa
Publish At:2017-10-04 21:35 | Read:237 | Comments:0 | Tags:Fraud Protection Threat Intelligence Bitcoin Bitcoin Mining

POS Malware Breach Sees Payment Cards Hit Underground Shops

News about POS malware breaches affecting two retailers hit the headlines last week, this time featuring a fast-food restaurant chain in the U.S. that operates around 3,500 locations across the country, most of which are franchised, and a popular supermarket. Both entities, like others before them, were notified of suspicious activity by a third-party servic
Publish At:2017-10-04 03:05 | Read:360 | Comments:0 | Tags:Data Protection Fraud Protection Malware Retail Threat Intel

Raise the Red Flag: Guidelines for Consuming and Verifying Indicators of Compromise

Indicators of compromise (IoCs) are artifacts such as file hashes, domain names or IP addresses that indicate intrusion attempts or other malicious behavior. These indicators consist of: Observables — measurable events or stateful properties; and Indicators — observables with context, such as time range. IoCs are crucial for sharing threat information and
Publish At:2017-09-18 17:25 | Read:219 | Comments:0 | Tags:Fraud Protection Incident Response Cyberattacks Incident Res

Frost & Sullivan Report Highlights Rise in Phishing Attacks

Have you ever unknowingly opened and responded to a phishing email or fallen victim to a phishing attack? A recent report by Frost & Sullivan titled “You’ve Been Phished, Again! Solution: Eliminate the Click-It Temptation,” discussed just how susceptible we all are to these fraudulent attacks and what can be done to avoid them. How Do P
Publish At:2017-09-12 13:50 | Read:240 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Cognitive Secu

Brazilian Malware Client Maximus: Maximizing the Mayhem

In January 2017, IBM X-Force research reported the development of a new remote-access malware code targeting Brazilian banks. The malware, dubbed Client Maximus, was observed in ongoing campaigns and continues to target online banking users in the country. The development of Client Maximus, which is believed to be commercially available in Brazilian fraud an
Publish At:2017-09-12 13:50 | Read:312 | Comments:0 | Tags:Fraud Protection Malware Threat Intelligence Advanced Threat

e-Signature Security Speeds Government Paperwork Along

As public administrators have learned, efficiency in government is largely a matter of executing the small things well. A saved mailing expense or avoided delay can add up to a lot more work for a lot less tax money, which is one practical definition of good government in action. One example of this process is a current U.S. Census Bureau initiative to imple
Publish At:2017-09-11 19:25 | Read:277 | Comments:0 | Tags:Data Protection Fraud Protection Government Authentication D

Using Phishing Intelligence to Reel In Advanced Threats and Protect Corporate Networks

Gone are the days of the Nigerian prince promising fortune to unsuspecting email recipients. Attackers have stepped up their phishing game and evolved their tactics to entice employees to click links or open attachments, preying on the opportunity to spread persistent malware or compromise credentials. These threat actors relentlessly target employees — both
Publish At:2017-08-24 16:50 | Read:180 | Comments:0 | Tags:Fraud Protection Security Intelligence & Analytics Employee

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:379 | 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:262 | Comments:0 | Tags:Advanced Threats Fraud Protection Threat Intelligence IBM X-

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