The U.S. Secret Service is investigating a new ATM attack that, unlike previous "cash-out" attacks, uses advanced, custom-build skimmers to steal credit card information and PINs.
Shir Levin used to report on government and law, but her journalism career wasn't data-driven enough for her. She now uses her experience in news, psychology and statistics to fight identity fraud.
IBM X-Force researchers unpacked ExoBot's inner workings to reveal insights into its dynamic mechanisms and the features that help criminals use it in cross-channel bank fraud schemes.
IBM X-Force researchers identified new financial malware, dubbed CamuBot, that attempts to camouflage itself as a security module required by the Brazilian banks it targets.
IBM X-Force researchers discovered that BackSwap, a banking Trojan that had previously only targeted Polish banks, now has its sights set on six banks in Spain.
Researchers discovered a new ATM fraud scheme that attacks both the front and back ends of ATM networks virtually, making it harder to remediate than traditional schemes that target physical machines.
The mobile revolution has made it simpler and faster for banking customers to conduct financial transactions, but it has also expanded the attack surface for fraudsters aiming to steal sensitive data.
As cybercriminal tactics evolve, banks must employ fraud detection solutions that leverage artificial intelligence to evaluate new registrations for signs of money mule activity.
New Year, New Account Fraud: Identity Theft May Be Holding Back Your Customer Experience Resolutions
Financial institutions looking to improve the customer experience in 2018 should implement multilayered security solutions to crack down on identity theft and detect new account fraud.
Banks are already privy to the threat of physical breaches, but many remain unaware of the ATM network security gaps that could enable fraudsters to access their systems.