An Indian court convicted 11 people for their roles in the North Korean heist of $13.5 million in 2018 from Pune-based Cosmos Cooperative Bank. The United Nations attributed the thefts to North Korea, which uses criminal activity, including financially motivated hacking, to obtain hard currency.
Everyone knows why criminals rob banks. But since most robbers are operating remotely, which tactics are cybercriminals actually employing and how often are they successful? Too often, it seems, thanks to phishing attacks, money laundering, ATM skimmers, malware and more.
A French-speaking gang codenamed "Opera1er" has been tied to the theft of at least $11 million from dozens of victims - mainly banks in Africa - and remains "active and dangerous," cybersecurity researchers warn, as they release indicators of compromise to help potential victims protect themselves.
Response to supply chain attacks has evolved thanks to increased awareness and education, but more work needs to be done to understand how challenges can be addressed more systematically, says Sean Duca, vice president and regional chief security officer, Asia-Pacific and Japan, Palo Alto Networks.
Fraudsters compromised debit card numbers and associated PINs, and possibly names and addresses, of an undisclosed number of Bank of the West customers. Unknown thieves installed skimmers in a "small number of ATMs," the bank's COO, Karl Werwath, tells ISMG.
Insurance claims being filed by ransomware victims are growing as criminals continue to hit businesses with crypto-locking malware. To avoid these claims, organizations can take a number of proven steps to better protect themselves, says Payal Chakravarty of Coalition.
This past holiday shopping season proved to be yet another demanding, but lucrative one. The season was greeted with challenges such as supply chain shortages, and threat actors being especially busy leveraging tried and true methods, as well as some new ones, to take advantage of retailers and their employees. This...
Learn how advanced analytics and machine learning help financial organizations proactively detect and prevent fraudulent payments.
As new payment types proliferate globally, payment and identity fraud is also skyrocketing. In 2021, global card fraud losses hit a staggering $28.58 billion.
To survive and stay...
F5 Shape Security provides real-time monitoring and intelligence that protects firms from both human and bot-driven fraud before they can impact their businesses, all without disrupting the customer experience.
Forrester found in their survey that organizations that deployed Shape Security improved bot blocking by...
F5 Shape Security provides real-time monitoring & intelligence that protects firms from both human and bot-driven fraud before they can impact their businesses, all without disrupting the customer experience.
Forrester found in their survey that organizations that deployed Shape Security improved bot blocking by up...
A dual U.S.-Canadian national has been sentenced to more than 11 years in federal prison for conspiring to launder tens of millions of dollars in wire and bank fraud schemes, according to the U.S. DOJ. Officials say the activity included cash-out scams for North Korean cybercriminals.
Banks are uniquely exposed to secondhand risk and fraud resulting from compromises of payment card information at merchants in other industries, particularly retail, hospitality, and ecommerce. A significant proportion of fraud against retail banks issuing credit cards therefore results from incidents on networks and...
A Ukrainian national who admitted to working as a system administrator and IT manager for the notorious FIN7 cybercriminal gang, which has been involved in the theft of millions of payment cards, has been sentenced to 10 years in federal prison.