A closely held type of point-of-sale malware, DMSniff, is spreading further while another, GlitchPOS, has also emerged. Despite a surfeit of stolen payment card details on the black market, efforts to steal more continue, highlighting the continuing challenges around card security.
The notorious carder site Joker's Stash is featuring a fresh batch of Pakistani banks' payment card data with an estimated street value of $3.5 million. Nearly all of the 70,000 bank cards are advertised as being from Meezan Bank, the country's largest Islamic bank, Group-IB reports.
Banks can drive real value to their fraud prevention strategies with machine learning and analytics if they cut through the hype. Machine learning can be made intuitive and available directly to fraud experts. A multi-faceted strategy can turn fraud prevention expertise into a revenue generator for the business.
A famed British computer security researcher has lost several key motions in a federal hacking case that stems from his alleged contribution to two types of banking malware. The rulings could complicate the challenges for the defense team of Marcus Hutchins, who remains in the U.S.
This Valentine's Day, authorities are once again warning individuals to watch out for anyone perpetrating romance scams. The FTC says Americans lost $143 million to romance scams in 2017, while in the U.K., Action Fraud says reported romance scam losses in 2018 topped $64 million.
A convergence of events in December in Japan led to an unprecedented spike in card-not-present fraud. New statistics from a dark web monitoring firm explain how a promotion by PayPay, a third-party payments service, slid sideways.
In 2018, the Identity Theft Resource Center counted 1,244 U.S. data breaches - involving the likes of Facebook, Marriott and Exactis - that exposed 447 million sensitive records, such as Social Security numbers, medical diagnoses and payment card data.
Bangladesh Bank, supported by the New York Fed, has filed a lawsuit in U.S. federal court to try to recover $81 million stolen via one of the biggest online bank heists in history. But the Philippine bank the lawsuit targets has dismissed the case as a "political stunt" designed to shift blame.
As part of its ongoing push toward cashless payments, India is taking steps to ramp up the use of contactless payments, which are already becoming more common in Japan, South Korea, Australia, the U.K. and the U.S. What can be done to balance security vs. convenience?
A Juniper Research analysis of why card-not-present fraud will continue to grow leads this week's edition of the ISMG Security Report. Also featured: Updates on a Neiman Marcus breach lawsuit settlement and a German hacking incident.
Forty-three states have reached a settlement with Neiman Marcus over its 2013 data breach, one of several breaches from that period blamed on in-memory malware. The retailer will pay $1.5 million and must use encryption and tokenization to protect card data.
Although the Reserve Bank of India mandated that banks complete the shift from magnetic stripe debit and credit cards to EMV chip-and-PIN cards by Jan. 1 to help reduce fraud, there's still plenty of work to be done.
We no longer live in a Web only world. Consumers are increasingly interacting across multiple touchpoints, particularly digital channels. Today, over half of all transactions originate from a mobile device or app, and as a result, fraud in the mobile channel has increased over 600 percent in three years. With so many...