Chinese hackers have just pulled off one of India’s biggest cyber fraud ever by convinceing the head of a local Indian subsidiary of an Italian firm to wire $18.6 million from bank accounts in India to a bank account in Hong Kong.
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.
The pace of cross-industry fraud is accelerating and becoming more costly and this is exacerbating the identity theft problem. New fraud study from LexisNexis reports that 84% of organizations had been the victim of cross-industry fraud.
Because gift cards are widely accepted, equivalent to cash, and mostly anonymous, the industry is the target of many criminal schemes. How do you avoid becoming a victim of gift card fraud?
With the aid of technology, insider fraud has outranked all other forms of fraud for modern businesses, ironically the companies are also using it to pre-emptively stop fraudsters in their tracks.
With mobile comes great opportunities both for consumers and businesses, but also for criminals. Over half of businesses surveyed in the Sixth Annual Fraud Report from IDology experienced an increase in mobile fraud. What is the cause?
Love is in the Cloud as millions of people are looking to meet their match online. However, Cupid isn't the only one taking aim at people seeking love on dating apps during this time of year. Catfishers and scammers are on the prowl, taking advantage of those looking for love.
Recent survey on 200 banks worldwide found 4 in 5 of them had experienced at least one SWIFT fraud attempt since 2016, and the problem appears to be growing.