cybersecurity

Credential Stuffing Attacks Cause Heartache for the Financial Sector

The financial industry has always been a target for cyberattackers. Credit card data, customer information, and the wealth of corporate data available for the taking has ensured that cybercriminals will try, again and again, to compromise companies in the sector. In August, cyberattackers made off with 13.

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Financial Industry Standards Body Releases Rules Aimed at Tightening Mobile Security

Mobile payments are booming in places like China and India, but in the United States, not so much. Year after year, one reason that keeps popping up in surveys is concerns about security, and on Tuesday a major standards body announced a measure aimed squarely at those fears. The Accredited Standards Committee X9 Inc., an […]

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Cybercriminals Harass FIs 81M Times in 2018 So Far

A new report has revealed that financial institutions (FIs) were hit with 81 million cybercrime attacks in the first half of 2018, with 27 million of those breaches targeting the mobile channel.

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ASB, Westpac and BNZ to Trial New Technology to Tackle Errors and Scams

Three major banks are set to trial technology in a bid to crack down on errors and scams when transferring money.

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How Worried Should Banks Be About the FBI’s ATM Attack Warning?

People who work in information security departments are confronted with security alerts every day; at large banks they get hundreds of thousands a day. Choosing which to act on and which to leave alone is never easy. The FBI sent a confidential alert to banks late last week, warning that a rash of ATM theft […]

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FBI Warns Banks on Potential ATM Hacking Scheme

The FBI is warning financial institutions that their ATMs could be targeted in a hacking attempt. The threat was reported Sunday by Krebs On Security, a popular cybersecurity blog run by the journalist Brian Krebs.

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Banks and Retailers Are Tracking How You Type, Swipe and Tap

When you’re browsing a website and the mouse cursor disappears, it might be a computer glitch – or it might be a deliberate test to find out who you are. The way you press, scroll and type on a phone screen or keyboard can be as unique as your fingerprints or facial features.

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FBI Warns Banks of ‘Unlimited’ ATM Cashout Blitz

The Federal Bureau of Investigation (FBI) is warning banks that cybercriminals are preparing to carry out a highly choreographed, global fraud scheme known as an ATM cash-out, in which crooks hack a bank or payment card processor and use cloned cards at cash machines around the world to fraudulently withdraw millions of dollars in just […]

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Resurgent Payments Fraud Heightens ID Challenge for Banks

Verifying identities continues to be a tricky proposition for banks as cybercriminals diversify and increase their attacks – especially when it comes to wire transactions. Payments fraud hit a record high in 2017, with 78 of all organizations affected, according to a report from the Association of Financial Professionals and J.P. Morgan.

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Corporate Cybercrime Makes Inroads in Australia

Call it fraud done by bits and bytes, sometimes by ostensibly friendly means. In Australia, roughly half of firms have encountered cybercrime, as the dark web has offered conduits to ply payments and other fraud.

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Surge in Hacked Credit Card Information Offered for Sale on Web

The number of hacked U.S. credit cards whose information was offered for sale to other criminals on the dark web jumped by about two-thirds in the first half of this year, according to a cybersecurity research firm.

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Crypto Money Laundering Up Threefold in 2018: Report

Three times more cryptocurrency was stolen from exchanges in the first half of 2018 than all of 2017, with a corresponding boost in money laundering related to crypto, according to a report released Tuesday by CipherTrace.

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