Security News
BehavioSec announced new features added in its upcoming release of the BehavioSec behavioral biometrics platform - BehavioSense. "These features add to our platform's existing anti-fraud capabilities and are designed to solve the COVID-19 era challenge of accelerated digital transformation, online security, and privacy regulation compliance."
The company surveyed 2,000 consumers across the United States and United Kingdom about their experiences and attitudes toward payment fraud and how they felt about the threat of fraud in the aftermath of COVID-19. The results show that worry about fraud has risen to extreme levels and consumers feel their increasingly digital lives are putting them more at risk.
As the world begins to open up and we crawl toward a brighter future, people are going to be looking for things to do and places to go - so we also expect to see social-engineering attacks start using things like travel and vacation deals to hook people. With many companies continuing to allow at least some of their employees to work remotely with no stipulated end date, security leaders have to stay abreast of the latest threats regarding edge access and browsers.
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.