Security News
The fraud detection and prevention market is expected to surpass $100 billion by 2027, as reported in a research study by Global Market Insights. The internal fraud type is anticipated to grow at over 25% CAGR between 2021 to 2027 due to the rising collusion among employees.
While researching a recent large-scale bot campaign with CQ Prime Threat Research team lead, Dean Lendrum, we found attackers using domain parking and monetization services to register multiple domains, creating a large number of fake eCommerce accounts per domain. Patterns observed include irregular domain names, domain resolving to an untrusted web app, SSL not enabled.
The year-end holiday season is a time for celebration - a chance to decorate homes, splurge on gifts and gather with family and friends. Last year, 1 in 4 people fell victim to fraud during the holiday season.
In this interview with Help Net Security, Tom Wesselman, CTO of TeleSign, explains how to successfully combat identity fraud to not only protect an organization but its customers too. One way to do so is by conducting extensive vetting during the new customer onboarding process that challenges customers to verify their identities.
Among all of the attacks aimed at rank-and-file users, there's one that stands out - the tech support scam. Tech support scams happen when people receive a message - either through a popup on their screen or an unsolicited phone call - insisting that something's wrong with their computer and needs fixing.
Digital criminals are creating new and effective ways to con businesses and financial institutions by using synthetic identity fraud. "We're seeing a huge increase in synthetic identity fraud - the process of combining real and fake personal information to create an identity and commit fraud," Hoffner said during an email conversation.
Riot Games, the developer behind League of Legends, has filed a California lawsuit against scammers, whose identities aren't yet known, for ripping off job seekers with the promise of a gig with the company. Usually early in their careers and eager for a chance with a gaming company like Riot, job hunters are either targeted by a cybercriminal posing as a recruiter or with fake ads on popular employment sites like Indeed, Riot's filing explained.
Socure unveiled its survey, providing a stark warning for e-commerce platforms and marketplaces that consumers have zero tolerance for seller-related identity fraud and won't return to a platform if that occurs. 51% of consumers are reluctant to do business with smaller merchants due to the perceived risk of fraud.
Over the past 12 months, 47% of all identity document fraud was classed as 'medium' sophisticated fraud, which is a 57% increase over the previous year, an Onfido report reveals. In 2020, there was a 41% increase in ID fraud, with the average ID fraud rate reaching 5.8%. Over the past 12 months, even though much of the physical world has re-opened, the average fraud rate was recorded at 5.9%, showing that fraud still hasn't dropped back to pre-pandemic levels.
Netacea announced results from a report that shows skewed analytics caused by bots cost businesses just as much as click fraud, despite click fraud's much bigger profile. Ad fraud and skewed analytics caused by bots cost businesses 4% of their revenue.