08 Aug 2019

49% of all risky online transactions come from mobile devices

A new report by iovation that analyzes billions of fraudulent online transactions between January 2016 and June of this year shows that in the first six months of 2019, nearly half (49%) of these transactions were carried out from mobile devices. This is a significant increase compared to last year,

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30 Jul 2019

Flaws Allow Hacker to Bypass Card Limits

New research by Positive Technologies has uncovered serious vulnerabilities that can enable threat actors to bypass payment limits during contactless payments. The flaws, which were tested for five UK banks but also for terminals in other countries, could allow hackers to steal unlimited amounts from contactless cards. Tim Yunuso of

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08 Jul 2019

AI for Fraud Detection to Triple by 202

The Association of Certified Fraud Examiners (ACFE) projects that the use of artificial intelligence (AI) for fraud detection will triple by 2021. At the moment a mere 13% of firms use AI for detecting fraud, but an additional 25% plan to introduce this technology over the next two years. The

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27 Jun 2019

Payment Fraud Linked to Terrorism and Trafficking

Terbium Labs has released a new report that sheds light on the link between payment card fraud and other illegal activities such as drug trafficking, money laundering, human trafficking and terrorism. The study, which is based on 274 cases of payment card fraud in North America and Europe, found that

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18 Jun 2019

How Fraudulent Domains ‘Hide in Plain Sight’

New research by Proofpoint shows that over 3 in 4 firms have found fraudulent domains impersonating their company and a whopping 96% have discovered domains using their exact brand name, but a different top-level domain (TLD), i.e. examplebusiness.net instead of examplebusiness.com. According to Kevin Epstein of Proofpoint, fraudulent domains represent

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30 May 2019

Many are seeing the damage of cybercrime and identity theft firsthand

The vast majority of people are afraid it’s only a matter of time before they (71%) or their children (73%) will fall victim to identity theft or another cybercrime, a new F-Secure survey found. The majority of respondents (51%) said this had already happened to a family member. One in

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23 May 2019

Fraud Attacks from Mobile Spiked 300% in Q

Cybercriminals are increasingly using rogue mobile applications to carry out fraud attacks, a new RSA report shows. In the first three months of this year, fraud associated with such apps surged by 300%. Rogue apps are malicious copies of legitimate applications. Fraud campaigns involving financial malware also increased in Q1

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02 May 2019

Digital Ad-Fraud Losses Decline

New research by White Ops and the Association of National Advertisers (ANA) projects that losses for digital advertisers due to ad fraud will decline by 11% this year to reach $5.8 billion. The decline is caused by increasingly successful efforts by the industry to counter online ad fraud. As a

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19 Apr 2019

Report: Under-Resourced People Face Higher-Than-Average Cyber Risks

A new University of California study[pdf] shows that underserved people face higher cybersecurity risks than other citizens. The study defines underserved people as “residents from low-income households, foreign-born and foreign-language speakers, and seniors.” The survey found that underserved people are more likely to fall victim to cyber scams, to experience

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19 Apr 2019

India expected to surpass the UK for second place in payment card fraud

India is an increasingly popular target for cybercriminals, a new report by Gemini Advisory shows. In fact, India is projected to overtake the UK on the payment card fraud list this year, meaning that it will become the most targeted country after the US. In 2018, threat actors put 3.2

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