The battle against synthetic identity fraud has reached a critical point, as credit repair companies now play a major role in exacerbating this pervasive form of fraud. Synthetic identity fraud now comprises 85% of all identity fraud cases, with up to $20 billion in annual losses.
Genetics testing firm 23andMe is investigating a data leak of ancestry DNA information for certain customers whose usernames and passwords were previously hacked on other websites. The company suspects a massive credential stuffing attack on individual accounts using recycled passwords and no MFA.
The credit repair industry plays a pivotal role in propelling the latest synthetic ID tactics, which are being used to commit multiple types of account fraud. Two experts shared their insights on why fraudsters are more likely to abuse deposit bank accounts than credit cards these days.
In the aftermath of the pandemic and global political unrest, the risks of identity and credential theft have surged, and a deluge of scams are exploiting the crisis. Consumers facing disrupted incomes seek credit solutions, and fraudsters seek to exploit them by using application fraud tactics.
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.
Cybercriminals continue to rely on proven attack methods while developing new ways to infiltrate digital environments and break through your human defense layer.
But how can you reduce your organization’s attack surface? We looked at 12.5 million users across 35,681 organizations to find out.
In this webinar...
Phishing attacks have come a long way from the spray-and-pray emails of just a few decades ago. Now they’re more targeted, more cunning and more dangerous. And this enormous security gap leaves you open to business email compromise, session hijacking, ransomware and more.
Join Roger Grimes, KnowBe4’s...
Losses to fraud reported by Britain's financial services sector exceeded $1.5 billion in 2022, declining by 8% from 2021, says trade association UK Finance. About 40% of losses tied to authorized push payment fraud, in which victims get tricked into transferring funds to attackers.
In this 14th edition, M-Trends provides an inside look at the evolving cyber threat landscape drawn from Mandiant incident response investigations and threat intelligence analysis of high-impact attacks and remediations around the globe across the last year.
This report also includes:
Latest Incident Response...
As the attack surface expands and attacks become increasingly sophisticated, the traditional reactive approach cannot keep you ahead of adversaries. You need to take a proactive approach with a comprehensive understanding of the attackers and their methods throughout the attack lifecycle. Mandiant outlines a framework...
Threats that traditionally menaced other industries - including synthetic accounts and abuse of IT product platforms - are emerging worries for the healthcare sector, warns an industry report. Other experts also predict a similar evolution among criminal activities affecting the healthcare sector.
The rapidly evolving threat landscape means keeping up with the latest threat intelligence and swiftly operationalizing it can be challenging.
Picus Security recently analyzed over half a million malware samples to identify the MITRE ATT&CK techniques most commonly used by adversaries.
Watch this exclusive...
Identity verification and e-signature firm OneSpan is working with investment bank Evercore on a sale process that could attract interest from other businesses and private equity firms, Reuters reported. This follows five publicly traded cyber vendors agreeing to go private since the start of 2022.
ISACA's recently published Privacy in Practice 2023 survey report shares new research related to the privacy workforce, privacy skills, privacy by design and the future of privacy. Expert Safia Kazi shares ways organizations can align privacy goals with business objectives.