Security News
In 2019 alone, ATO attacks cost consumers and e-commerce retailers a whopping $16.9 billion in losses. To be clear, ATO fraud isn't new, it's been a concern for online retailers for a decade.
A convicted fraudster was out on parole when he allegedly conned victims into giving him millions of dollars to place surefire sports bets on their behalf using special software that didn't actually exist. Christopher Hales, 39, of Lehi, Utah, has been charged with wire fraud conspiracy and money laundering conspiracy - and must answer a civil lawsuit from punters who say they were duped into parting with their cash.
ATO is the weapon of choice for fraudsters leading up to the holiday shopping season, new data from Sift shows, and consumers place account security burden on businesses. Account takeover fraud attempts to steal from consumers and e-commerce merchants swelled 282% between Q2 2019 to Q2 2020, new data from digital trust and safety provider Sift finds.
As the economic fallout of the COVID-19 crisis continues to unfold, a research from Next Caller, reveals the pervasive impact that COVID-related fraud has had on Americans, as well as emerging trends that threaten the security of contact centers, as we head towards what may be another wave of call activity. Rising reports of fraud activity signal not only that fraudsters are eager to replicate their initial success, but that some of those early schemes may just be getting started.
The founder and CEO of the Internet security company NS8 has been arrested and "Charged in a Complaint in Manhattan federal court with securities fraud, fraud in the offer and sale of securities, and wire fraud." I admit that I've never even heard of the company before.
The new anti-clone/fake app capability is part of Pradeo Security In-App Protection service and complements shielding capabilities. A fake app is built from scratch and simply includes some part of the code of the app it's pretending to be or mimics its interface.
The usage of banking services through a mobile app has quickly been embraced by consumers. Currently, researches indicate that mobile banking apps are often not as secure as expected.
It seems ironic that the co-founder of a company designed to prevent online fraud would engage in fraudulent activity. "It seems ironic that the co-founder of a company designed to prevent online fraud would engage in fraudulent activity himself, but today that's exactly what we allege Adam Rogas did," Sweeney said in a statement.
The founder and CEO of NS8, a cyber fraud prevention and protection company, has been charged with fraud just months after the firm raised $123 million in funding, the U.S. Justice Department and the Securities and Exchange Commission announced on Thursday. The DoJ said Adam Rogas, 43, of Las Vegas, Nevada, was arrested and charged with securities fraud, fraud in the offer and sale of securities, and wire fraud.
The United States Department of Justice on Wednesday unsealed an indictment against two Russian nationals allegedly engaged in cryptocurrency fraud schemes. The two, Danil Potekhin and Dmitrii Karasavidi, allegedly targeted three cryptocurrency exchanges - two in the United States and one abroad - and their customers to defraud them of at least $16.8 million in virtual currency.