In its latest quarterly fraud and payments report, Outseer notes a 58% increase in brand abuse - a trend that's only going to grow, says COO Jim Ducharme. He analyzes this and other fraud trends, including how to reduce fraud without compromising user experience.
A Russian-speaking cybercriminal recently sold on a darknet forum thousands of stolen payment and gift cards that researchers at Gemini Advisory believe were taken from the now-defunct online gift card exchange Cardpool.com.
A Russian national who co-founded the Infraud Organization's online cybercrime forum, which trafficked in stolen payment card data and was tied to more than $560 million in fraud losses, has been sentenced to serve 10 years in prison.
Cybercriminal gangs operating darknet stolen payment card marketplaces are scrambling to attract customers from the now-closed Joker's Stash card market, according to the security firms Kela and Flashpoint.
Other darknet marketplaces apparently are preparing to fill the underground economy's need for a steady stream of stolen payment card data if the Joker's Stash site closes Feb. 15 as its administrator has announced. Some researchers believe the administrator may even launch a new marketplace.
Joker's Stash, the notorious underground marketplace that has specialized in the sale of stolen payment card data, is reportedly shutting down in February with its administrator claiming he will "retire" at that time, according to Gemini Advisory. Researchers say fraudsters will quickly move to other sites.
Facebook's relaunch and rebrand of its Libra digital payment initiative as Diem is seen by some as a shadow of its former self. Financial services commentator Chris Skinner explains why state governments and AML concerns are to blame.
Identity management will be at the forefront of securing remote work in the coming year. Jason Bohrer, new leader of the Secure Technology Alliance and the U.S. Payments Forum, describes key initiatives as he steps into this role.
E-commerce has skyrocketed in 2020, but so have transaction disputes. Ryan Battles of EY explains the cause, the impact, as well as how merchants can reduce incidents of this so-called "friendly" fraud.
A recently uncovered point-of-sale malware called "ModPipe" is targeting Oracle software used by thousands of restaurants and other businesses in the hospitality industry, according to researchers at ESET. This backdoor can then steal sensitive data, such as cardholder names.
COVID-19 accelerated everything else digital; why not fraud, too? In this latest CEO/CISO panel, cybersecurity leaders talk frankly about the pace and scale of new fraud schemes from business email compromise to card not present to insider risk.
Ransomware attacks remain the top cyber-enabled threat seen by law enforcement. But phishing, business email compromises and other types of fraud - many now using a COVID-19 theme - also loom large, Europol warns in its latest Internet Organized Crime Threat Assessment.