Your secret weapon to combat cyber threats might be just under your nose! Cybercriminals continue to exploit vulnerabilities while upping their game with new and more sinister attack methods. The human firewall is your cybersecurity ace in the hole.
But how resilient are your users when it comes to fending off...
Human error is a major contributor to payments fraud, but only about 5% of organizations have fully automated their payment processes to reduce mistakes. Experts say artificial intelligence-enabled automation will help reduce risks, but the benefits of this technology are still a distant reality.
Federal authorities warn of social engineering and phishing scams - sometimes targeting IT help desk workers - that allow attackers to steal login credentials and access healthcare sector entities' IT systems so they can divert automated clearinghouse payments to bank accounts the attackers control.
Payment fraud is the top risk to companies across the globe. Business email compromise is continually on the rise. Johnny Deutsch, co-founder and CEO of B2B payments protection company Creednz, discusses the need to integrate security into financial processes.
Healthcare organizations should take steps to avoid falling victim to evolving threats involving costly business email compromise scams and related phishing schemes fueled by social engineering, warned the Department of Health and Human Services' Health Sector Cybersecurity Coordination Center.
A still-active phishing campaign using individualized phishing lures is targeting senior corporate accounts in Microsoft Azure environments, said researchers from Proofpoint. They said the hackers have compromised hundreds of user accounts spread across dozens of Microsoft Azure environments.
Rumors are swirling about how the Department of Health and Human Services lost about $7.5 million in grant payments through a series of cyberattacks last year, including speculation over whether the incidents involved sophisticated AI-augmented spear-phishing or more commonplace fraud schemes.
Hackers have reportedly stolen about $7.5 million from a Department of Health and Human Services grant payment system in a series of cyberattacks last year. The news comes in the midst of HHS and other authorities warnings about rising threats involving social engineering and payment scams.
Hackers celebrated the year-end holidays with a malicious "Free Leaksmas" posting on the dark web, releasing 50 million stolen consumer records, including credit card information. Researchers said the leaked data can be used for identity theft and fraud.
Established provider LexisNexis Risk Solutions remains atop Forrester's digital fraud management rankings, while upstart Sift broke into the leaders category for the first time. Many providers in the space have expanded from payment transactions to account takeover fraud as well as handling scams.
While a significant number of attacks are not yet AI-driven, there's a noticeable shift in the creation of generative malware and lures for business email compromise, warned Ashan Willy, CEO at Proofpoint. LLMs are being used to create enticing lures in foreign languages to target broader audiences.
Business email compromise continues to be a significant threat and is one of the most financially damaging online crimes. Attackers continue to innovate and grow in sophistication, which means defenders need to leverage new technology, warned Mike Britton, CISO of Abnormal Security.
A Nigerian national has pleaded guilty to participating in a business email compromise scheme that stole $1.25 million from a Boston investment firm. Perpetrators used malware to intercept an employee's emails as well as spoofed email accounts to trick the employee's London financial services firm.
Cybercriminals may be using a generative AI tool called WormGPT to create convincing phishing emails to support business email compromise attacks. A new survey shows that 1 in 5 people fall for the fake, AI-generated emails, according to cybersecurity researchers.
Apart from some of the threats surrounding AI, this emerging technology can help defenders formulate effective policies and controls to prevent and mitigate BEC scams. With the evolving threat landscape, harnessing AI becomes crucial in defending, said Johan Dreyer, CTO at Mimecast.
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