Criminals have been caught tapping a new type of relay attack to cash-out stolen payment cards added to legitimate digital wallets. These criminals use money mules who carry an Android device able to capture and relay NFC communications used by ATMs to and from an attacker-controlled device.
An FBI probe into shuttered cybercrime site Genesis Market has led to the indictment of Terrance Ciszek, a now-suspended police detective in Buffalo, New York, who's been accused of buying stolen payment card data and recording a video showing fraudsters how to use it anonymously.
Russian national Georgy Kavzharadze, 27, has been sentenced to serve 40 months in U.S. prison after pleading guilty to earning over $200,000 by selling stolen U.S. bank account access credentials via the illicit Slilpp stolen-credential marketplace.
U.S. law enforcement charged two alleged masterminds of one of the largest Russian-language cybercrime forums after they claimed asylum inside the United States and lived a luxurious life in Miami. Federal agents obtained an image of the server hosting the forum.
Hackers linked to Chinese fraudsters are targeting online shoppers to steal credit card information, likely making off with about $50 million from victims in the United States and Western Europe who order premium shoes at discount prices on fraudulent deal websites.
First-party fraud hits banks from many different places - credit card fraud claims, bust-out schemes, lending fraud and synthetic identity fraud. The diversity of scams poses major challenges in spotting fraudulent activity, said Frank McKenna, chief strategist and co-founder of Point Predictive.
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.
In the aftermath of the pandemic and global political unrest, the risks of identity and credential theft have surged, and a deluge of scams are exploiting the crisis. Consumers facing disrupted incomes seek credit solutions, and fraudsters seek to exploit them by using application fraud tactics.
Spanish police estimate that a group that mainly targeted ATMs of Spanish national banks using cloned payment cards had fraudulently pocketed nearly 196,000 euros. Authorities arrested three suspected members of the group Sunday in the Spanish coastal city of Valencia.
The world is moving on from magnetic stripe payment cards, with one notable exception: the United States. Credit card issuers, banks and consumers agree the magnetic stripe is prone to hacking - so why is one of the largest markets for plastic payment still clinging to decades-old technology?
Losses to fraud reported by Britain's financial services sector exceeded $1.5 billion in 2022, declining by 8% from 2021, says trade association UK Finance. About 40% of losses tied to authorized push payment fraud, in which victims get tricked into transferring funds to attackers.
An Illinois man pleaded guilty Monday to eight criminal counts stemming from the three years he spent leading a conspiracy to sell stolen financial information on darknet markets. The man, Michael D. Mihalo, 40, founded a darknet carding site known as Skynet Market.
U.S. authorities revealed the Russian man behind a two-decade span of abetting cybercriminals' theft of credit cards, dismantled his online infrastructure and offered a hefty reward for information leading to his arrest. Prosecutors say the man, Denis Kulkov, ran a service now known as Try2Check.
Ukrainian law enforcement busted a transnational group of scammers that used more than 100 phishing websites to defraud Europeans. The scammers embezzled nearly $4.4 million by fooling more than 1,000 victims into handing over payment card details, police said.
Attackers are deploying modified MageCart malware against WordPress websites that use the WooCommerce shopping cart plug-in, says website security firm Sucuri. Hackers inject PHP and JavaScript code and hide stolen credit card numbers in .jpg files.
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