Account takeover fraud is on the rise, and businesses and banks are bearing the costs. Because ATO fraud looks like activity by a trusted customer, detection can be difficult – but it is possible. Here's what businesses need to know to fight takeover attacks without declining good orders.
Cyber Security
Cyber criminals, state-sponsored hackers and even the occasional disgruntled employee are constantly looking to gain unauthorized access for a variety of purposes: theft of money, cyber espionage, personal information for sale or for use in scams, and damage to critical infrastructure for just a few of the most common.
So how does an organization mitigate an entire world full of continual cyber attacks? Just as buildings have a number of necessary elements of physical security: access control, cameras, alarms and so on; there are similar key elements of cyber security that are absolutely vital for just about any modern business.
It starts with identifying and closing the most common doors that attackers use. For example, phishing attacks on employees are far and away the most common initial point of entry. The breach of even a low-level employee account can quickly turn into an escalation in access privileges and the ability to reach sensitive information. This is also true of smart devices, which are generally more poorly secured than computers and phones.
2020 and 2021 were record years for ransomware payments at about $765 million. The take collected by ransomware operators is now down 40% to $457 million in 2022.
As merchants weigh the risks and rewards of expanding into the Metaverse, it’s important to understand the fraud and customer experience implications. Before making the leap, retailers should ensure their existing digital commerce platforms are secure.
The U.K.’s Information Commissioner’s Office has fined a South Staffordshire water supplier $1.3 million, following a multi-year data breach that affected more than 630,000 people.
Finastra, a fintech service provider for 45 of the 50 largest banks in the world, has sent out data breach notifications to customers tied to postings on criminal underground outlet BreachForums that offered a total of 400 GB of zipped data.
Recent cyber attacks that have done damage to critical infrastructure could be a pretext for a "real shooting war," according to Joe Biden, as the president addressed the growing threats to national security in the cyber sphere.
High-profile cyber attack that struck British budget airline EasyJet may have been carried out by Chinese hackers who have stolen email addresses and travel details of millions of passengers.
Hive ransomware, one of the biggest ransomware-as-a-service (RaaS) strains circulating since 2021, has at this point brought in $100 million in ransom payments and the total victim count is at least 1,300 organizations.
Dell Technologies is notifying customers of a preventable data breach that exposed their personal information via a poorly protected application programming interface (API). The notification follows a recent BreachForum post by a threat actor auctioning the stolen data, allegedly belonging to 49 million customers.
For IT asset disposition (ITAD), data safety and destruction isn’t just a technological issue, it’s a human one as well – based on procedure and trust. So how do we build a more trustworthy process?










