Security News
The situation is more complex than simply devoting a larger share of the budget and focus to fraud prevention and security: as companies find new ways to engage with their customers through new features and touchpoints, criminals find new vulnerabilities to exploit. Research and experience have showed that fraud mitigation and cutting-edge security strategies can go hand-in-hand with - and even drive - innovation, customer engagement and a great user experience.
Online payment fraud attempts increased by 73 percent in 2019, according to a report from Sift. Additional findings in the report reveal that cybercriminals are using mobile devices more than desktops or laptops to commit payment fraud.
Mobile payment fraud is growing, and is growing faster in the mobile ecosystem than anywhere else. Just as the targets have evolved with the emergence of mobile as the fraud platform of choice, so too have the payment types evolved.
What can you learn from analyzing more than 2 billion phone calls per year? Everything you need to measure to detect fraud and authenticate genuine users. Preventing call center fraud is the most common use case for the platform, but Balasubramaniyan also sees a growing need for voice authentication, spanning everything from home automation systems to corporate fraud.
A former Microsoft software engineer was convicted this week on 18 federal criminal charges tied to stealing more than $10 million through the company's online retail platform, according to the U.S. Department of Justice. Voldymyr Kvashuk, a Ukrainian resident who first worked as a contractor and then as a full-time engineer at Microsoft from 2016 to 2018, was found guilty on five counts of wire fraud, six counts of money laundering, two counts of aggravated identity theft, two counts of filing false tax returns, and one count each of mail fraud, access device fraud and access to a protected computer in furtherance of fraud, according to the U.S. Attorney's Office for the Western District of Washington, which oversaw the case.
In today's digital world, fighting fraud requires a dynamic approach that connects multiple layers of security and leverages a coordinated set of AI-based solutions to continuously stay on top of the newest fraud schemes while preserving a seamless consumer experience. How a Connected Intelligence approach to security can link different points of consumer interaction - from login to checkout and beyond;.
Account Takeover is one of the biggest threats that banks are facing today. To make matters worse, legacy anti-fraud solutions are falling short of accurately evaluating the risk.
RSA, a global cybersecurity leader delivering Business-Driven Security solutions to help organizations manage digital risk, announces the general availability of RSA Adaptive Authentication for eCommerce version 20.5. In this version, RSA Adaptive Authentication for eCommerce implements the latest features available in the EMV 3D-Secure v2.2 protocol, adds new authentication flows to support transactions where the cardholder is not in session, and introduces new capabilities that significantly enhance the customer's checkout experience.
In Q4 of 2019, advanced, multi-step attacks attempting to evade fraud defenses using a blend of automated and human-driven attacks have been detected. While automated attacks are still prevalent across most industries, the notable rise in human-driven attacks is attributed to fraudsters leveraging what Arkose Labs define as "Sweatshop-like workers" to enhance attacks.
A trio of Australians has been charged with identity theft that netted AU$11 million - ill-gotten loot they allegedly ripped off by hacking into businesses and modifying their payrolls, pension payments and credit card details. New South Wales police reportedly said that the unidentified 31-year-old man allegedly stole more than 80 personal and financial profiles so as to use them in identity fraud in South Australia from early 2019, and then in NSW from August 2019.