U.S. Firm Hit For Nearly $100M in Email Scam
Fraudsters employing an increasingly common scheme known as business email compromise victimized a United States company for more than $98 million, according to a suit filed by the U.S. Attorney’s office in Manhattan Thursday. The civil forfeiture lawsuit is an attempt to recover $25 million in funds held in a variety of overseas accounts, money […]
CEO Phishing Scam Costs Belgian Bank Crelan $75M
The venerable phishing scam has been trying on some new clothes as of late, and quite often those outfits are costing victims dearly. The latest and perhaps most expensive of these is the version of the executive email scheme that hit a Belgian bank recently and cost the firm more than $75 million. This particular scheme, which also […]
Google Comes Down on Ad Fraud
There are a lot of terrible, terrible things on the Internet and much of that garbage is related to or contained in ads. Malware, phishing links, scams, and other forms of badness all have strong connections to the online ad world, and new data from Google shows just how tight those ties are. In 2015, the […]
By the Numbers: Online Bot Fraud to Cost $7.2B
Fraud, in all its forms, is a major drain on businesses. And most of the time that fraud is committed by human people. But what about robot fraud? Or, more accurately, fraud from Internet bots. These little automated programs can perform a lot of interesting and useful jobs online, but they also can use their powers for […]
Nigerian Email Scams Alive and Well
Nigerian email scams have been ongoing for more than a decade and in that time have morphed, spread, and evolved from simple pleas for money from consumers to highly targeted schemes going after multi-million companies. And though law enforcement agencies have been following them for years, arrests and indictments related to these scams are still rare. […]
Payment Card Protocols Wide Open to Fraud
Researchers have discovered serious security vulnerabilities in a pair of protocols used by software in some point-of-sale terminals, bugs that could lead to easy theft of money from customers or retailers. The vulnerabilities lie in two separate protocols that are used in PoS systems, mainly in Germany, but also in some other European countries. Karsten Nohl, a […]
On the Wire Podcast: James Chappell
Dennis Fisher talks with James Chappell of Digital Shadows about the state of the underground economy, how he goes about his research into the economy, and the evolution of fraud and attacks. Music by Chris Gonsalves and Ken Montigny. Image from Flickr stream of Dean Hochman.
On the Wire Podcast: Wendy Nather
In this episode, the guest is Wendy Nather, research director at the Retail Cyber Intelligence Sharing Center (R-CISC). Dennis and Wendy discuss the challenges of fighting fraud, the biggest security threats facing retailers right now, and the effectiveness of information sharing. Music by Chris Gonsalves and Ken Montigny.
An Interview With Trae McAbee: On the Front Lines of the Fraud Fight
Trae McAbee has been deeply entrenched in the fight against fraud and cybercrime for more than 10 years. As a former special agent in the United States Secret Service, he worked on electronic crimes, data breach investigations, money laundering, and cyber crime. McAbee is now an independent consultant. He spoke with Dennis Fisher about the […]