12 Feb 2019

Experian: US Suffers the Most Online Fraud

According to new research by Experian, US consumers and companies are prime targets for online fraud campaigns. Losses related to online fraud have increased over the past year for eight out of ten US firms, while this is true for only a little over half (55%) of businesses in Europe and

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01 Feb 2019

IoT botnet used in YouTube ad fraud scheme

Security researchers with CenturyLink have released a report documenting the recent evolution of TheMoon, an internet of things (IoT) botnet that was first detected in 2014. While TheMoon was originally used by cybercriminals to carry out DDoS attacks, it is now being used for other malicious purposes, such as brute-force attacks

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31 Jan 2019

eCommerce credit card fraud is nearly an inevitability

New research by Riskified on the online shopping habits and preferences of 5,000 US consumers, shows that the older consumers get, the more likely they are to fall victim to eCommerce credit card fraud. Overall, just under half (49%) of respondents has become a victim of this type of fraud. For

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09 Jan 2019

Phone fraudsters are stealing billions each year through a scheme known as IRSF

According to the Communications Fraud Control Association, telcos and consumers have lost over $38 billion to phone fraudsters over the last decade. The most lucrative scam, accounting for $4 – $6 billion in damages, has been International Revenue Share Fraud (IRSF). IRSF takes advantage of premium phone numbers that charge

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14 Dec 2018

Hackers fooled Save the Children into sending $1 million to a phony account

“Save the Children Federation, one of the country’s best-known charities, said it was the victim of a $1 million cyberscam last year. The Connecticut-based nonprofit said hackers broke into a worker’s e-mail, posed as an employee, and created false invoices and other documents, to fool the charity into sending nearly

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18 Oct 2018

SEC Calls for Better Accounting Controls as Cyber Scams Increase

“Public companies that are easy targets of cyber scams could be in violation of accounting rules that call for firms to safeguard assets, the Securities and Exchange Commission said Tuesday. The SEC said in an investigative report that nine public companies wired nearly $100 million to hackers who impersonated corporate

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