The FFIEC has issued an alert calling on financial institutions to take specific risk mitigation steps in light of an increase in the frequency and severity of cyberattacks involving extortion. Fraud experts applaud the move while offering additional recommendations.
While sophisticated cyberattacks and high-profile mega-breaches get most of the attention, European fraud experts say less sophisticated attacks are far more common and pose a greater fraud risk. At ISMG's Fraud Summit in London, they called for global collaboration to fight fraud.
A cybercrime ring that employed the Angler Exploit Kit to earn an estimated $34 million per year - from ransomware infections alone - has been disrupted by security researchers at Cisco's Talos security intelligence and research group.
Security experts warn about a trio of new threats: GreenDispenser cash-out malware, the Shifu banking Trojan being spread via malvertising attacks and Neutrino crimeware getting an upgrade to steal payment-card data.
If there's one thing federal regulators want to drill into the heads of covered entities and business associates about data breach prevention, it's this: Stop procrastinating, and conduct a risk analysis and encrypt most of your computing devices right away.
What do successful but separate malware attacks against banking customers around the world, as well as the White House and health insurer Anthem, all have in common? Researchers say the answer is shockingly simple.
In a security landscape where the frenetic pace of technology has changed paradigms in ways organizations are struggling to cope with, Blue Coat's Hugh Thompson advises adopting a 'Degrees of Freedom' approach.
The takedown of Gameover Zeus taught law enforcement and banks many lessons, including that Trojans are being used to steal corporate secrets, not just money, says Eward Driehuis of Fox-IT, which investigated the threat actors behind the Trojan.
The prices for stolen payment card data and other cybercrime products and services on Russian underground forums continue to fall. But the cybercrime ecosystem is more automated, effective and robust than ever, Trend Micro reports.
The U.S. Department of Justice has charged three men in a fraud scheme reportedly tied to hacks of JPMorgan Chase. Separately, two men are charged with running an unlicensed online bitcoin exchange used by Russian criminals.
Malware kingpin Vladimir Tsastsin has pleaded guilty to charges relating to a $14 million click fraud scheme that the FBI dubbed Operation Ghost Click. The scheme, which also involved money laundering, affected 4 million victims in 100 countries.
Warning: All versions of Flash Player are vulnerable to a zero-day, weaponized exploit that became public when Italian spyware vendor Hacking Team was hacked, and 400 GB of corporate data leaked. Adobe has released an update to patch the flaw.
U.S. businesses and consumers have reported experiencing more than $18 million in losses stemming from CryptoWall ransomware, the FBI warns. Security experts say ransomware's ease of use and low risk fuels the increasing numbers of attacks.