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 Ransomware Gains Traction, UK BEC Fraud Spikes

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Aided by technology – and emboldened by the rise of cryptocurrencies – fraudsters are stepping up ransomware campaigns. In comments reported earlier this week, cyber insurance security responder Tom Bennett of CFC Underwriting told The Financial Times that that claims surged in June and July. Corporate Wire Fraud.

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U.S. Bank: Machine Learning Is Banks’ Best Bet Against Fraud

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Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. Fraudsters made off with account numbers and other personal details, which could later be used for different synthetic identity fraud or related schemes. digital bank Monzo.

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Signifyd Data Shows Fraud Is Actually Declining

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Fraud isn’t perpetrated by a random assortment of individuals; it’s organized crime. It’s “fraud as a Service.” It’s a very unfair match, if you ask Skye Spear, VP of eCommerce fraud-fighting firm Signifyd. “I Classic fraud deflection is rules-based. Fraud is dynamic. It’s a business. percent in Q1 2017.

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Synchrony Says Erroneous Email Not Tied To Data Breach

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Five senators wrote a letter to Amazon CEO Jeff Bezos, asking him to explain how security surveillance company Ring uses people’s data and video. Personal data can be exploited by foreign intelligence services to amplify the impact of espionage and influence operations,” the letter said.

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Theranos Thrashed By Investor Law Suit

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The suit was filed by San Francisco-based Partner Fund Management in Delaware Court of Chancery on Monday October 10. The letter accuses Theranos, founder Elizabeth Holmes and a former executive of deception by claiming that “proprietary technologies that worked” had been developed and were close to regulatory approval.

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Bitcoin Daily: India Gov’t Makes Blockchain Regulation Recommendation; Bitfinex Ordered To Freeze $860K Of Bitcoin Paid By Ransomware Attack Victim

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The National Institute for Smart Governance (NISG) in India has published a report recommending that laws around blockchain should be based on what the technology does, and not the technology itself, according to a report Tuesday (Jan. 28) by The Economic Times.

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Who Should Lead The Digital ID Push?

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Despite all the discussion about verifying digital IDs without creating friction for the user, recent incidents like cybercriminals using AI to impersonate an energy company’s CEO to falsely request money could give security professionals nightmares. There’s no question the world is moving in a digital direction. Department of Commerce.

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