Security News

Google halts paid-for Chrome extension updates amid fraud surge: Web Store in lockdown 'due to the scale of abuse'
2020-01-27 19:58

On Saturday, Google temporarily disabled the ability to publish paid Chrome apps, extensions, and themes in the Chrome Web Store due to a surge in fraud. "Earlier this month the Chrome Web Store team detected a significant increase in the number of fraudulent transactions involving paid Chrome extensions that aim to exploit users," said Simeon Vincent, developer advocate for Chrome Extensions, in a post to the Chromium Extensions forum.

Cardplanet mastermind pleads guilty to credit card fraud
2020-01-27 14:31

Aleksai Burkov, a Russian cybercriminal responsible for over $20m in credit card fraud, pleaded guilty last week for access device fraud, identity theft, computer intrusion, wire fraud, and money laundering, after being indicted four years ago for operating a carding website called Cardplanet. This website, which ran from 2009 until 2013, served as a forum for cybercriminals to buy and sell credit card details stolen from victims.

Russian Pleads Guilty in Virginia to Large-Scale Card Fraud
2020-01-24 06:19

A Russian national pleaded guilty Thursday to running a website that helped people commit more than $20 million in credit-card fraud. Aleksei Burkov, 29, of St. Petersburg, Russia, entered the plea to charges including fraud and money laundering in a federal court in Alexandria.

More authentication and identity tech needed with fraud expected to increase
2020-01-24 05:00

The proliferation of real-time payments platforms, including person-to-person transfers and mobile payment platforms across Asia Pacific, has increased fraud losses for the majority of banks. "While the convenience of real-time payments is great news for customers, increasingly, banks have zero time to clear a transaction or payment. AI can't slow down the clock, but it can help create systems that are radically quicker to recognize a transaction that smells likely to be fraudulent," said Dan McConaghy, president of FICO in Asia Pacific.

Russian super-crook behind $20m internet fraud den Cardplanet and malware-exchange forum pleads guilty
2020-01-24 04:40

A 29-year-old Russian scumbag has admitted masterminding the Cardplanet underworld marketplace as well as a second forum for elite fraudsters. Aleksei Burkov appeared in a US federal district court in Virginia this week to plead guilty [PDF] to access device fraud, and conspiracy to commit computer intrusion, identity theft, wire and access device fraud, and money laundering.

buguroo enhances its bugFraud solution with New Account Fraud prevention capabilities
2020-01-23 03:00

Buguroo, the online fraud prevention solutions specialist for the financial sector, unveiled further capabilities that make it easier for banks to identify fraudsters attempting to open new bank accounts. These enhanced New Account Fraud prevention capabilities - included in the latest version of buguroo's bugFraud solution - employ advanced deep learning technologies to analyze new customer onboarding sessions in real-time, analyzing each user's behavior and environment without adding friction to their journey.

Researchers create OT honeypot, attract exploits and fraud
2020-01-21 13:40

Trend Micro announced the results of research featuring a honeypot imitating an industrial factory. The highly sophisticated Operational Technology honeypot attracted fraud and financially motivated exploits.

Mobile Carrier Customer Service Ushers in SIM-Swap Fraud
2020-01-17 21:03

Mobile carriers have left the door wide open to SIM-swap attacks, particularly when it comes to prepaid accounts, researchers have found. According to PhishLabs, a typical attack would start with an attacker phishing personal and banking information - often via SMS phishing, which has the added benefit of confirming that a victim's cell phone number is an active line.

Live Webinar | Changing the Equation: Ensuring Faster Payments Do NOT Equate to Faster Fraud
2020-01-17 18:34

Faster payments are the new reality in more than 40 countries, and this innovation is benefiting consumers and businesses alike. Criminals are also enjoying the speed and non-refutable nature of these transfers, and in many deployments faster payments quickly translates to faster fraud.

Fraud prevents a third of businesses from expanding digital capabilities
2020-01-14 05:30

Kount released a new research report on digital innovation and emerging fraud, which found that the most innovative businesses are also the ones facing the greatest fraud threats. The report, conducted by Javelin Research, surveyed hundreds of respondents across the retail, restaurant, insurance, and financial industries and revealed more than 40% of businesses say fraud impedes their expansion into new digital channels and services.