Established provider LexisNexis Risk Solutions remains atop Forrester's digital fraud management rankings, while upstart Sift broke into the leaders category for the first time. Many providers in the space have expanded from payment transactions to account takeover fraud as well as handling scams.
With only 90 early adopters, Federal Reserve's FedNow program faces the challenge of persuading U.S. banks to sign on to the real-time payments initiative launched in July. Experts say the Fed could learn some lessons from successful efforts in Brazil and India.
Inadequate authentication measures leave your digital identity vulnerable to cybercriminals. Tools like multi-factor authentication, biometrics, passwords, PINs, and tokens are all more vulnerable to attacks and social engineering than you realize. And one wrong move leaves you and your organization powerless in the...
Netcraft purchased an online brand protection vendor to incorporate security analysts into the company's highly automated cybercrime takedown process. The deal will expedite the takedown of fraudulent websites by capitalizing on their joint knowledge of the global infrastructure provider landscape.
Synthetic ID fraud is nothing new, but it is expanding beyond fraudulent bank accounts to identity scams for auto loans. Many organizations fail to understand the link between data breaches and fraudulent IDs, said Jason Lord, vice president of product marketing at TransUnion.
The lack of an understanding of what constitutes first-party lending fraud is causing massive losses at banks. Anna Bleazard, head of Singapore and South East Asia in financial crime compliance at FTI Consulting, recommends that banks intervene as early as possible.
BumbleBee is a malware loader that specifically targets Windows computers. Initially discovered in March 2022, it has marked over a year of continuous evolution since its emergence. Since its early stages, BumbleBee was under active development. With consistent refinement and the integration of new features, the...
Insider threats continue to pose significant concerns in today's digital landscape. While malicious insiders have garnered attention due to harmful intent, negligent users often make unintentional mistakes, contributing to potential cybersecurity risks.
FICO research has found that macroeconomic factors can significantly impact fraud trends, and with inflation and fears of a recession looming, banks are facing new threats from fraudsters whose methods are becoming significantly more sophisticated. One of the areas most impacted is first-party fraud, where fraudsters...
The nature of fraudulent content has taken on new dimensions with the emergence of generative AI. This new era has ushered in tools capable of creating fake images, voices and videos that can be difficult to distinguish from genuine content, warned Bryan Ware, chief development officer at ZeroFox.
Recently acquired RiskLens edged out startup Axio and incumbent ThreatConnect for the top spot in Forrester's first-ever cyber risk quantification rankings. Cyber risk quantification focused on theoretical methodology for about 10 years but shifted to practical applications over the past five years.
In this episode of CyberEd.io's podcast series "Cybersecurity Insights," Alisdair Faulkner of security and fraud prevention startup Darwinium discussed how the FedNow Service will add a layer of complexity to defending against real-time financial fraud scams used in faster payments transactions.
Collaborative AI - the process of one AI model learning from another - is one of the most effective ways for financial institutions to fight the sophisticated techniques fraudsters use for scams, said Johan Gerber, executive vice president of security and cyber innovation at Mastercard.
The Rapid Risk Reduction Checklist is a tool to help you quickly assess your organizations incident response readiness in the event of an advanced, stealthy attack. Find out whether you are well positioned against the threat or have a lot of work to do to reduce the risk of a sophisticated attack.
Human Factor Security expert Robin Lennon Bylenga advised that in building an internal threat management program, it is imperative to not send mixed messages to the broader workforce. It's wise to conduct an assessment of human risk - not just IT risk, she said.
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