Mobile-only banking app Dave has suffered a data breach that exposed personal details for at least 3 million users. But the fintech startup says no account information was exposed, and there are no signs of fraud. Dave says the incident traces to credentials stolen from Waydev, a third-party service provider.
The latest edition of the ISMG Security Report analyzes the hacking of high-profile Twitter accounts. Also featured: Addressing security when offices reopen; the role of personal protective equipment, or PPE, in money laundering during the pandemic.
The latest edition of the ISMG Security Report analyzes the latest developments in banning Huawei technology from 5G networks. Also featured are discussions of how to respond better to cybercrime and whether we're on the cusp of a digital currency revolution.
The U.S. Secret Service is combining its electronic and financial crime units into a single task force that will focus on investigating cyber-related financial crimes, such as BEC schemes and ransomware attacks. The move comes as lawmakers push for the Secret Service to take a more active role in fighting cybercrime.
A hacking group known as "Keeper" has been using Magecart-like web skimmers to target the online checkout sites and portals of hundreds of e-commerce sites in order to steal the payment card data from about 184,000 customers, according to Gemini Advisory. The thefts are estimated to total in the millions.
Hackers with apparent ties to North Korea have extended their bag of online attack tricks beyond cryptocurrency mining, online bank heists and ransomware. Now, they're also hitting e-commerce merchants in the U.S. and Europe with Magecart attacks to steal payment card data, security firm Sansec reports.
Aleksey Burkov, who operated a site called "Cardplanet" that trafficked in stolen payment card data used to make millions of dollars in fraudulent purchases, has been sentenced to nine years in federal prison. His case also involved high-level negotiations between the U.S., Russia and Israel.
The latest edition of the ISMG Security Report discusses Europol's launch of the European Financial and Economic Crime Center, and also details the London Met's perspective on recent cybercrime trends, and to need to maintain a paper audit trail for mobile voting.
The FBI is warning that cybercriminals and fraudsters are increasingly targeting mobile banking apps with malware in order to steal credentials and conduct account takeover attacks. The shift to mobile banking has increased since the COVID-19 pandemic.
Europe is targeting financial and economic crime, including fraud and money laundering, via the new European Financial and Economic Crime Center, hosted by the EU's law enforcement intelligence agency Europol. Officials say the launch of such a center during the COVID-19 pandemic is no accident.
Payment fraud continues to evolve during the COVID-19 pandemic, exploiting changing habits and behaviors of consumers. Melissa Gaddis of TransUnion, who has been tracking these changes, says one of the surprising changes concerns millennials: They're now fraudsters' top target.
The lines are rapidly blurring between traditional fraud and rising cybersecurity threats. Financial services leaders are challenged to find ways to rapidly increase visibility across their environments while accelerating responses to threats effectively and efficiently.
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The latest edition of the ISMG Security Report offers a discussion of the potential insider threats posed by the remote workforce during the COVID-19 crisis. Also featured: An update on payment fraud shifts and the long-term outlook for the cybersecurity market.
The latest edition of the ISMG Security Report discusses the ramifications of the U.K's decision to allow limited use of Huawei's equipment in 5G networks. Plus: Updates on Wawa's stolen card data offered for sale and nascent security threats from social networks and drones.