A discussion on how the understanding of epidemiology, immunology and genetic research processes can help developers create methods to secure information systems leads the latest episode of the ISMG Security Report. Also featured: insights on strengthening ATM defenses.
This edition of the ISMG Security Report debunks recent reports suggesting that Austrian hotel guests were locked into - and out of - their rooms by ransomware. Also, would a cybersecurity executive order from U.S. President Donald Trump advance the nation's existing efforts?
Three Eastern European men have been sentenced to five years in prison for their roles in helping a criminal gang steal $2.7 million from First Commercial Bank ATMs in Taiwan. Europol says two others involved in the thefts have been arrested in cooperation with Belarus and Romanian authorities.
Malware designed to get ATMs to spit out their cash - advanced when it first debuted - has been upgraded, according to a report from FireEye. Now, the Ploutus-D malware talks to legitimate ATM middleware, enabling it to target machines from 40 vendors. What does this mean for financial institutions?
The financial sector continues to be a prime target for highly sophisticated, customized attacks. The SWIFT money transfer system recently came under attack resulting in an $81 million heist of the Bangladesh Bank. This number pales in comparison to an estimated $1 billion stolen from over 100 banks worldwide by the...
A just-issued report from President Obama's Commission on Enhancing National Cybersecurity outlines challenges the next administration should address. Observations from one of the panel's commissioners highlight the latest episode of the ISMG Security Report.
Why are ATMs a top target for fraudsters? In an interview, Shirley Inscoe, a financial fraud expert and analyst at Aite Group, offers insights based on a new study and predicts the surge in skimming will continue next year.
The following white paper details how IBM Security Trusteer Pinpoint Detect analyzes financial transactions for suspicious activity by means of a detection engine that correlates a wide range of critical fraud indicators. With major advances in payments technology, one has to ask the question, "do faster payments mean...
Local police are investigating ATM skimming attacks at four New York hospitals. Security experts warn that fraudsters will likely continue to target locations, including hospitals, where ATMs are not closely monitored and around-the-clock access to the terminals is available.
European banks have seen a new wave of ATM jackpotting attacks, where machines are commanded by malware to spit cash into the waiting hands of criminals, according to a new report. But why is this report being cautiously received?
As U.S. ATM operators face MasterCard's Oct. 21 EMV liability shift deadline, a surge in explosive attacks against European ATMs is a reminder that anti-fraud features won't block all money machine crime.
Same-day Automated Clearing House (ACH) payment processing became a reality. While this represents a terrific opportunity for banks to be responsive to their customer's requirements for faster ACH payments, plus the ability to attract new customers from banks who choose not to offer the same level of responsiveness,...
The National Automated Clearing House Association (NACHA) issued a new directive to catch up with evolving payment processing trends for financial institutions around the world. These changes will allow banks to make clearance of payments faster, improving the customer experience, but open the door to potential fraud....
Brazen ATM thefts from financial institutions in Taiwan and Thailand have sent a shiver through the global banking industry. An inside look at the malware used in the attacks reveals attackers' clever, incremental improvements.