In the wake of recent SWIFT-related interbank payment heists, more banks are monitoring transactions for anomalous behavior in an attempt to catch fraud in real time, says Andrew Davies, a fraud prevention expert at core banking services provider Fiserv.
So why is Visa temporarily reducing the fraud chargeback burden on non-EMV-compliant U.S. merchants? Mark Nelsen, Visa's senior vice president, says it boils down to this: The card brand wants to give retailers a break while it takes steps to streamline the cumbersome certification of new POS devices.
Google Project Zero researcher Tavis Ormandy has once again found major vulnerabilities in Symantec's security products. Symantec has released updates, but not all will install automatically - some vulnerable products must be manually updated.
Healthcare organizations must do much more to continually measure the effectiveness of their security controls as new cyber threats emerge and evolve, Lisa Gallagher of PricewaterhouseCoopers, formerly of HIMSS, says in this in-depth interview.
An individual claiming to be the hacker who posted four healthcare databases on the dark web reveals some of his tactics. We take a close look at the risks posed to one affected clinic, which faces a ransom demand.
Bangladesh Bank has opted to not extend a contract with the incident response team that it hired to investigate the theft of $81 million via fraudulent SWIFT messages. Meanwhile, similar hack attack tactics have apparently been used to steal $10 million from an unnamed bank in Ukraine.
Britain's surprise vote to "Brexit" the European Union leads the ISMG Security Report. Also hear analysis on a cybercrime forum selling remote server access; Comodo being in hot water by saying "let's encrypt"; and why Facebook CEO Mark Zuckerberg covers his webcam with tape.
Behavioral analytics already has proven its effectiveness against today's sophisticated fraud schemes. But fraudsters continue to escalate and diversify their attacks in and across channels and payment types, while FIs are pressed to expand services and improve the customer experience. This unique confluence of...
Account origination fraud remains one of the fastest growing threats today for organizations ranging from banks to government entities. According to statistics from the Javelin Strategy & Research firm, this type of fraud has risen from $2 billion in total losses in 2014 to $3 billion in 2015, while the number of...
The 2015 ABA Deposit Account Fraud Survey is the eleventh biennial industry study conducted by the American Bankers Association on the topic of deposit account fraud. For over two decades, this ABA survey series has collected detailed DDA fraud information across traditional and emerging banking channels. With...
Cybersecurity horror stories are a steady drumbeat in the news today. There are many fraud detection, risk mitigation and breach prevention challenges keeping Infosec professionals up at night: rising ransomware demands; serious and expensive breaches at a wide range of organizations and the news of the SWIFT-related...
Achieving international acceptance of PCI-DSS is an ongoing challenge, says Jeremy King, international director of the PCI Security Standards Council, who's working to educate merchants about baseline security that goes far beyond cardholder data protection.
In a rare criminal case involving a HIPAA violation, a former respiratory therapist in Ohio has been convicted of wrongly obtaining individually identifiable protected health information.
In this edition of the ISMG Security Report, you'll hear reports on the U.S. government nabbing healthcare fraudsters; federal agencies at risk of exposing highly sensitive data; and the hacking of brokerage accounts.
A Senate bill proposes removing Social Security numbers of U.S. veterans from all Department of Veterans Affairs' information systems within the next five years to help reduce identity theft and fraud. How difficult would it be to make the change?
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