Blog Posts Tagged with "Banking"

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Email Intrusions Facilitate Wire Transfers Overseas

January 30, 2012 Added by:Headlines

The FBI has observed a trend in which cyber criminals are compromising the e-mail accounts of U.S. individuals and businesses and using variations of the legitimate e-mail addresses associated with the victim accounts to request and authorize overseas transactions...

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Restaurant Challenges US Bank and PCI DSS after Seizure of Funds

January 26, 2012 Added by:Andrew Weidenhamer

"The PCI system is less a system for securing customer card data than a system for raking in profits for the card companies via fines and penalties. Visa and MasterCard impose fines on merchants even when there is no fraud loss at all, simply because the fines are profitable...”

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The Implications of Malware-as-a-Service

January 25, 2012 Added by:Plagiarist Paganini

Criminal operations are managed as corporations and malware is designed as a service, with a maniacal attention paid to product quality. The life cycle is the most amazing aspect: From design, release, to after sales support - each stage is implemented with care and attention...

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Five FFIEC Compliance Tips For Banks

January 10, 2012 Added by:Robert Siciliano

“The guidance is an important reinforcement of several critical ideas: Fraud losses undermine faith in our financial system. Fraud tactics evolve constantly and the tools that combat them have to evolve as well. The guidance provides a perspective..."

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Israeli Hackers Counterhack and Steal Saudi Credit Cards

January 10, 2012 Added by:Headlines

In a tit for tat type move, Pro-Israeli hackers breached Saudi shopping sites and that they have thousands of Saudi credit cards. “If the leaks continue, we will cause severe damage to the privacy of Saudi citizens,” one of the Israeli’s stated...

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FFIEC Banking Security Guidelines In Effect Soon

January 05, 2012 Added by:Robert Siciliano

The FFIEC updated security guidelines go into effect in less than a month. It is imperative that financial institutions recognize that the security precautions currently in place are ineffective in the face of new, more sophisticated attacks...

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Restaurant Depot Customers Alerted of Data Breach

December 12, 2011 Added by:Headlines

"Trustwave found that that the thieves inserted malicious software or 'malware' into the credit and debit card processing systems used in Restaurant Depot stores. The malware collected card information as it was processed, stored it temporarily, and then sent it to a computer server in Russia..."

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Bank Executive Pleads Guilty to Stealing Nearly $2 Million

December 01, 2011 Added by:Headlines

"Walker... withdrew money from a line of credit in the name of a trust that held an account at Farmers and Merchants. To cover up the scheme, Walker made interest payments on the money supposedly loaned to the trust. Walker will face a maximum sentence of 30 years in federal prison..."

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Remote Deposit Capture (RDC) Could Escalate Fraud

November 22, 2011 Added by:Headlines

"With banks and financial institutions expanding this service to a retail customer base that often undergoes less stringent due diligence than do their commercial customers, is the potential for fraud increasing?"

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SpyEye Morphs to Hit Online Banking

October 25, 2011 Added by:Kelly Colgan

All your online activities inherently cannot be completely secured. This is something most of us have known for a long time, but as we’re pushing toward putting more of our lives in the digital domain, it’s a point that can’t be emphasized enough...

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Zeus Trojan Gains Peer-to-Peer Functionality

October 13, 2011 Added by:Headlines

"A few weeks ago I noticed that no new murofet/LICAT C&C domain names have been registered... I was a little bit confused and decided to analyze a recent Zeus sample... My first guess was: This is not ZeuS. But after I've analysed the infection I came to the conclusion that it is..."

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Over 100 Arrested in Credit Card Fraud Operation

October 10, 2011 Added by:Headlines

"This is by far the largest... identity theft/credit card fraud cases that law enforcement has come across. Credit card fraud and identity theft are two of the fastest growing crimes in the United States, afflicting millions of victims and costing billions..."

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Citigroup Faces Class-Action Lawsuit for May Breach

October 10, 2011 Added by:Headlines

“Defendants have taken no steps that adequately or effectively protect cardholders against illegal use of the cardholders’ sensitive and extensive financial records since the breach,” the suit states. Officials estimate that $2.7 million was stolen from 3,400 accounts in the attack...

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Study Shows Banks Blocking More Fraud

October 07, 2011 Added by:Robert Siciliano

The FS-ISAC consists of a group of banks that shares threat information and interacts with the federal government on critical infrastructure issues. Its members include Citi, Prudential, Bank of America, JPMorgan Chase, Goldman Sachs and Wells Fargo, among others...

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The FFIEC Wants You to Know...

September 23, 2011 Added by:Robert Siciliano

Consumers are oblivious to the layers of security put in place by financial institutions to protect their accounts. All consumers really care about are ease and convenience. A better understanding of what goes on behind the scenes can help consumers adapt to new technologies...

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Bad News For Banks: Courts Side With Customers

September 03, 2011 Added by:Robert Siciliano

The computer or other device the scammer used to access Comerica’s website could surely have been traced overseas and flagged for: hiding behind a proxy, device anomalies such as a time zone and browser language mismatch, past history of online scams and identity theft, and the list goes on...

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