Security News
These domains are like the real thing and are often visited by users who have mistyped the genuine domain URL. Unfortunately, criminals are good at finding new ways to trick unsuspecting visitors to your website. Many domain registration companies now offer value-added services that can help protect against criminals seeking to exploit established domains.
This would result in the services improving their fraud prevention capabilities, leading to an arms race between the fraudsters and the fraud teams. Eventually, fraudsters will determine who to target within the industry based on each service's fraud prevention policies and maturity, rather than generally targeting the industry.
The value of losses due to eCommerce fraud will rise this year, from $17.5 billion in 2020 to over $20 billion by 2021; a growth of 18% over a single year, according to a study from Juniper Research. The research found that fraudsters have targeted consumers as they have increased their eCommerce use; exposing insecure fraud mitigation processes from merchants who are unfamiliar and unprepared for the continuing fraud challenges in this market.
RSA announced Armen Najarian, Leah Evanski, and Dan Welch as three new additions to the Fraud & Risk Intelligence executive team. All three now report directly to Reed Taussig, Chief Executive Officer of the RSA Fraud & Risk Intelligence business.
Researchers have uncovered a new set of fraudulent Android apps in the Google Play store that were found to hijack SMS message notifications for carrying out billing fraud. The apps in question primarily targeted users in Southwest Asia and the Arabian Peninsula, attracting a total of 700,000 downloads before they were discovered and removed from the platform.
F5 announced enhancements to its application security portfolio. "To help today's customers succeed, security must be native to applications and APIs, continuous, applied in real time, and powered by data and AI.".
New research from FICO highlights the key challenges North American fraud and financial crime teams faced amidst the COVID-19 pandemic. 68 percent of senior executives said that remote working had a major impact on maintaining effective fraud and financial crime prevention functions within their organizations, during the past 12 months.
Flashpoint announced two new product offerings in the past two weeks: Flashpoint Brand Protection and Flashpoint Card Fraud Mitigation. These two new products from Flashpoint further extend the capabilities that enterprises and government agencies have at their disposal to mitigate fraud and protect against physical and cyber threats anywhere online.
Retailers around the world are increasing their fraud teams and budgets because of a significant rise in all types of online fraud during the pandemic, a research by Ravelin finds. 72% of retail brands around the world expect to grow fraud teams in the next year, while 76% predict their budget to tackle fraud will increase in the next 12 months - with 20% expecting a "Significant" increase.
A money-laundering fraud ring is targeting donation sites, taking advantage of the outpouring of charity sparked by the global pandemic. Dubbed Cart Crasher by the Sift security firm, the fraud ring leverages guest checkout options on donation sites to steal money and launder stolen payment cards.