The Institute of International Finance, a global association of financial institutions, is focusing on strategies for using digital identification and machine learning to combat financial crime, says Matthew Ekberg, a senior policy adviser at the institute.
Several prominent business executives and politicians, including Joe Biden, Elon Musk and Bill Gates, had their Twitter accounts hijacked in what appears to be a cryptocurrency scam, according to news reports. Some security experts believe that two-factor authentication protections failed.
Auction website LiveAuctioneers has acknowledged that it sustained a data breach in June. The announcement came after threat intelligence firm CloudSEK reported that it discovered about 3.4 million LiveAutioneers customers' records had been posted for sale on a darknet forum.
The U.S. Secret Service is combining its electronic and financial crime units into a single task force that will focus on investigating cyber-related financial crimes, such as BEC schemes and ransomware attacks. The move comes as lawmakers push for the Secret Service to take a more active role in fighting cybercrime.
Five billion unique user credentials are circulating on darknet forums, with cybercriminals offering to sell access to bank accounts as well as domain administrator access to corporate networks, according to the security firm Digital Shadows.
A recently uncovered phishing campaign is using spoofed Zoom account alerts to steal Microsoft Office 365 credentials, according to a report from Abnormal Security. These attacks come as use of the platform soars due to work-from-home arrangements.