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.
Accelerated digital transformation has only complicated the identity verification challenge for enterprises. But Chuck Moore of Early Warning has behavioral analytics and anomaly detection can combine to both reduce fraud and friction that often comes with traditional authentication methods.
Microsoft has observed a 254% increase in activity over the past six months from a Linux Trojan called XorDdos. First discovered in 2014, XorDdos was named after its denial-of-service-related activities on Linux endpoints and servers and its usage of XOR-based encryption for its communications.
Never have global financial institutions
faced such adversaries. The cybercriminal gangs now wield tools that
used to be the province of nation-states, and the nation-states now
engage in activities that once were owned by cybercrime. Scams
and schemes including account
takeover, denial of service and ransomware...
Containers and cloud-based resources are being used to launch DoS attacks against Russian, Belarusian and Lithuanian websites. Cybersecurity firm CrowdStrike's researchers say that through their Docker Engine honeypots, they observed two different Docker images targeting these assets.
The Computer Emergency Response Team of Ukraine and the National Bank of Ukraine are warning of massive DDoS attacks against pro-Ukrainian targets. The intelligence service in Romania, SRI, also warns of a similar type of attack targeting sites belonging to its national authorities.
Russian government hackers and cybercrime groups are teaming up to launch cyberattacks against the West in retaliation for its support of Ukraine. Some cybercrime groups have pledged to support the Russian government and threatened to go after countries providing material support to Ukraine.
As a result of the COVID-19 pandemic, government agencies are under great pressure to provide prompt services to appropriate constituents, however, technological limitations and an unprecedented surge in demand have exposed gaps in fraud mitigation. IT systems will need to be better prepared to accomodate changes to...
At a time when applications are more business-critical than ever - and visibility is more challenging to achieve - we need to discuss new strategies and tools for maximizing application intelligence. Sujay Pathakji of Axiom Telecom and Srudi Dineshan of Gigamon share insights.
A new ongoing malware campaign is currently being conducted in the wild, targeting unpatched TOTOLINK routers. By leveraging a newly released exploit code, threat actors can use this variant of the Mirai botnet, called Beastmode, to potentially infect vulnerable devices.
When it comes to advanced threat response, 42% of financial institutions say their current abilities are average. Only 35% say automation currently plays a strong role. Josh Zelonis of Palo Alto Networks and Sid Srivastava of Accenture analyze the State of Security Automation in Financial Services.
With so much at stake, organizations have to formulate a framework of cybersecurity strategies that can adapt to new and evolving threats. Cybersecurity involves not just technological defenses but a comprehensive process that keeps employees updated about security policies, ensures there's a thorough evaluation of...
Just one day after the White House warned that intelligence is pointing to potential offensive cyberattacks out of Moscow, European Union officials are calling for more stringent cybersecurity rules.
On Monday night, Israeli government websites including those of the prime minister and the ministries of Interior, Health, Justice, and Welfare, went offline. The Israel National Cyber Directorate confirmed a massive DDoS attack against a communications provider, resulting in temporary access loss.
Pete Barker was a cybersecurity Digital Loss Prevention practitioner before joining SpyCloud as Director of Fraud & Identity. He saw first-hand the impact of COVID-19 on fraud incidents, which are more automated and broadly targeted. He explains how "COVID changed all the rules" and how defenders can raise their game.
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