A majority of financial institutions have reported a rise in account opening fraud and payment scams, which is expected to continue and cause losses for banks, says Trace Fooshee, strategic adviser at Aite-Novarica Group. He discusses new technologies to put in place to mitigate scam attacks.
For fraudsters, there has been no respite. The fraud
economy took no pandemic hit. There was no
reduction in schemes among adversaries and they
experienced no job losses. Instead, shifts toward an increased dependency on digital channels have presented a myriad of new opportunities for illicit
Al reducir exitosamente los ataques automatizados, Shape le aportó valor a toda la empresa:
El servicio gestionado de Shape le permitió al equipo de seguridad concentrarse en otras prioridades de la seguridad.
Fraude: ahora que Shape evita una gran cantidad de las apropiaciones de cuentas (ATO), el equipo de...
Ao mitigar com sucesso os ataques automatizados, o Shape agregou valor em toda a empresa:
O serviço gerenciado Shape permitiu que a equipe de segurança se concentrasse em outras prioridades.
Fraude: agora que Shape está impedindo a ocorrência da maioria dos ATOs, a equipe de fraude pode dedicar seus recursos...
SpyCloud has fresh research into account takeover trends and finds that attacks have recently spiked by 300%. Chip Witt explains the trends behind the stats and offers insight into what enterprises often are overlooking in their ATO prevention strategies.
Watch this video featuring Analyst Amy DeMartine, VP Research Director at Forrester, along with Ido Safruti, CTO at PerimeterX, as they share their perspectives on the critical capabilities needed in a bot management solution to combat ATO.
Ransomware attacks remain the top cyber-enabled threat seen by law enforcement. But phishing, business email compromises and other types of fraud - many now using a COVID-19 theme - also loom large, Europol warns in its latest Internet Organized Crime Threat Assessment.
Are you prepared to detect and combat account takeover fraud (ATO) in real time? Adversaries have a variety of weapons at their disposal, which makes effective protection a challenge. To make matters worse, legacy anti-fraud solutions are falling short of accurately evaluating the risk.
With the right...
The latest edition of the ISMG Security Report analyzes the hacking of Dave, a mobile banking app. Plus: Sizing up the impact of GDPR after two years of enforcement and an assessment of IIoT vulnerabilities.
Digital and mobile banking are under attack - and the threats are increasingly faster, more sophisticated, and automated. Fraud managers and analysts face a round-the-clock battle as they try to identify and stop fraud before customers are affected.
To help financial institutions manage the risks without shifting...
From credit cards and deposit accounts to a wide range of lending products, cybercriminals spare no effort to turn a profit by exploiting weaknesses in the digital account opening process.
Download this e-book today to:
Uncover the financial and business impacts of new account opening fraud
Get tips on how to...
The latest edition of the ISMG Security Report analyzes the many challenges involved in developing and implementing contact-tracing apps to help in the battle against COVID-19. Also featured: A discussion of emerging privacy issues and a report on why account takeover fraud losses are growing.
Designing Security as a User Experience
The ongoing battle between attackers and defenders have left valid users caught in the middle. Protecting user accounts with aggressive security policies leads to false positives and needlessly locks valid users out of their account, while lenient security policies lead to...
Users - One of the Weakest Links in Your Cybersecurity Strategy
They say 'it's all about who you know' - for cybersecurity, that's partially true. If a cyberattacker knows your users, there's a good chance they can get into your network. Why? Because they can take what they know - usually an email address or...
A key disconnect exists between awareness of financial services fraud schemes and mitigation, according to the latest "Faces of Fraud" survey sponsored by Appgate. Mike Lopez, vice president at the firm, describes some key findings.