The operators behind the Ryuk strain of malware are increasingly relying on a malware-as-a-service tool - the Buer loader - to deliver the malware, rather than botnets such as Trickbot and Emotet, the security firm Sophos reports.
Implementation of 3D Secure 2.0, a protocol designed to be an additional security layer for online credit and debit card transactions, by banks and merchants alike can play a critical role in reducing "authorized payment fraud," two security experts say.
Security researchers at Imperva have uncovered a botnet that attacks vulnerabilities in websites' underlying content management systems and then uses these compromised servers to mine for cryptocurrency or send spam to more victims.
"Cybercrime is an evolution, not a revolution," says Europol's Philipp Amann, who oversees the EU law enforcement intelligence agency's annual study of the latest cyber-enabled crime trends. Ransomware, social engineering and the criminal abuse of cryptocurrency and encryption are some of the top threats.
Microsoft and its partners are continuing to put pressure on the Trickbot malware operation, eliminating an estimated 94% of its infrastructure. But some security researchers warn that the botnet's operators are developing workarounds to re-establish its infrastructure, enabling the group to resume its activities.
MAXEX, a company that develops a digital trading platform for the secondary mortgage market in the U.S., leaked 9 GB of internal documentation as well as full mortgage applications for 23 individuals. The data was released by a Swiss-based developer who apparently was unaware it was sensitive.
A international law enforcement operation involving 16 countries has resulted in the arrest of 20 individuals suspected of belonging to the QQAAZZ criminal network, which helped launder cash and cryptocurrency for other cybercriminals.
The Joker's Stash darknet marketplace has posted a fresh collection of 3 million credit cards that are likely related to a breach of the Dickey's Barbecue Pit chain of franchised restaurants, according to Gemini Advisory.
Criminals have been seeking innovative new ways to steal cash from ATMs. In the U.S., there has been a surge in physical attacks, while Europe has seen a sharp increase in "black box" attacks designed to make ATMs dispense cash on demand.
A newly identified financially motivated threat group, dubbed "FIN11," is deploying Clop ransomware and exfiltrating data from its targets for extortion efforts, according to researchers at FireEye Mandiant.
As new payment trends emerge, such as the surge in ecommerce during the COVID-19 pandemic, payment card standards also must change, says Jeremy King of the PCI Security Standards Council, who will be a featured speaker at ISMG's Virtual Cybersecurity and Fraud Summit: London on Oct. 20.
To help prevent merchant refund fraud, ecommerce firms must carefully track all data from the time a transaction is initiated until returned items are received at the warehouse, says Karisse Hendrick, an independent ecommerce fraud consultant.
Business email compromise scams continue to proliferate around the globe, with the U.S. now second only to Nigeria as a home base for the cybercriminal organizations waging the campaigns, according to a study by the security firm Agari.
The rapidly changing threat landscape is making it easier for malicious actors to commit fraud - and COVID-19 has made it even more challenging. Cybercriminals are ramping up sophisticated phishing scams, deploying malware to capitalize on the spike in mobile users, and accelerating mule recruitment.
To combat this...
The COVID-19 pandemic accelerated trends toward remote banking, digitization, and remote work. Around the world, we now rely more than ever on digital solutions for interactions and transactions that have traditionally involved a visit to the branch.
The new normal is here. eSignatures and remote ID verification...