Security News
eCommerce fraud to merchants to exceed $48 billion / eCommerce merchants must step up their fraud prevention strategies. A Juniper Research study found that the total cost of eCommerce fraud to merchants will exceed $48 billion globally in 2023, from just over $41 billion in 2022.
On June 8, 2020, an individual claiming to be billionaire film producer and philanthropist Sidney Kimmel contacted brokerage Charles Schwab by phone and stated that he had uploaded a wire disbursement form using the service's secure email service. All the while the alleged mastermind, Arthur Lee Cofield Jr, was incarcerated in a maximum security prison in Butts County, Georgia, according to the government.
The Australian Federal Police announced today the launch of Operation Guardian to ensure that more than 10,000 customers who had their info leaked in the Optus data breach will get priority protection against fraud attempts. Throughout Operation Guardian, JPC3 members can use full and collective legislative powers and investigative and intelligence capabilities of all Australian policing jurisdictions to help boost the breach victims' protection against fraudsters.
As many as 75 apps on Google Play and 10 on Apple App Store have been discovered engaging in ad fraud as part of an ongoing campaign that commenced in 2019. Prior to their removal from the app storefronts, the apps had been collectively installed more than 13 million times.
A massive operation that has reportedly siphoned millions of USD from credit cards since its launch in 2019 has been exposed and is considered responsible for losses for tens of thousands of victims. The site operators, thought to originate from Russia, operate an extensive network of bogus dating and customer support websites and use them to charge credit cards bought on the dark web.
Phones, of course, can be made inaccessible with the use of passwords and face or fingerprint unlocking. Once they have the phone and the card, they register the card on the relevant bank's app on their own phone or computer.
Microsoft said it's tracking an ongoing large-scale click fraud campaign targeting gamers by means of stealthily deployed browser extensions on compromised systems. "[The] attackers monetize clicks generated by a browser node-webkit or malicious browser extension secretly installed on devices," Microsoft Security Intelligence said in a sequence of tweets over the weekend.
In this Help Net Security video, André Ferraz, CEO at Incognia, talks about the impact of location-based fraud, which is more prevalent than one would imagine, and it impacts different industries in many different ways. Fraudsters simply don't want to reveal their physical location since this would make them susceptible to identification, therefore they spoof location signals.
The owner of a fraudulent tax preparation business, Ariel Jimenez, was sentenced to 12 years in prison for selling the stolen identities of thousands of children on welfare and helping "Customers" to falsely claim tax credits, causing tens of millions of dollars in tax loss. His "Customers" used the stolen identity info to add the children fraudulently as dependents on their tax returns so they would get a refund when they filed their taxes.
59% of consumers are more concerned about becoming a victim of fraud now than they were in 2021, according to ac research released by Paysafe. Consumers across North America, Latin America and Europe are prioritising security over convenience when making online purchases, as the impact of rising inflation and energy prices continues to fuel financial worries.