Criminals have begun targeting ATMs in Western Europe using malware, as well as a new generation of stealthier skimmers designed to capture card data and PIN codes. But the stolen data is often used for fraud elsewhere, especially the U.S.
Bulgarian and French law enforcement authorities made 11 arrests in an effort to take down a Bulgarian organized crime network suspected of conducting an electronic payment fraud and currency counterfeiting operation.
Concerns about ATM cash-outs and fraud reach new heights, as U.S. federal banking regulators warn institutions to watch out for the fraudsters' latest scheme, known as "unlimited operations."
Seventeen individuals are facing charges for their alleged roles in an international ATM skimming and money laundering scheme. The indictments of multiple individuals for a low fraud amount is encouraging, experts say.
A review of the RSA 2014 agenda shows several seminars, panels and speakers of particular interest to healthcare-focused attendees, including those focused on mobile device security and medical device hacks.
A recent ATM fraud scheme that targeted banks in three states illustrates just how sophisticated ATM attacks have become, experts say. Learn how fraudsters are increasingly keeping their skimming schemes concealed.
The author of the forthcoming book "Secrets and Leaks" explains why the acts of NSA whistleblower Edward Snowden don't carry the same weight as those of Pentagon Papers leaker Daniel Ellsberg.
Advanced threats and mobile security were the buzzwords of the Gartner Security & Risk Management Summit. What new insights did thought-leaders share, and how can they reshape our security posture?
Another organized cyber-attack and subsequent cash-out scheme illustrates increasing risks to the U.S. payments chain. One fraud expert says this trend "is of grave concern" for banking institutions and their accountholders.
Financial fraud expert Joe Rogalski explains why card issuers are ultimately responsible for losses linked to ATM cash-out schemes, like the $45 million worldwide cyberheist that made headlines last month.
A recent ATM cash-out scheme that netted $45 million puts a spotlight on the need for preventive measures, says John Buzzard of FICO's Card Alert Service. He offers several fraud mitigation tips.
How could global fraudsters steal $45 million from banking institutions without being detected or stopped? It was a process breakdown, not a technology failure, says fraud expert Avivah Litan of Gartner.
Gary Warner, a computer forensics researcher at the University of Alabama at Birmingham, says malware aimed at POS systems isn't likely to affect ATMs. But others say the threat to ATMs is viable.
Visa has warned U.S. payment card issuers to be on the lookout for global ATM cash-out fraud. What are the signs banking institutions should monitor to help detect, prevent and report these schemes?
The continuing loss of data to China suggests that the federal government should carefully assess the cybersecurity implications associated with the expansion of Chinese cloud and mobile providers in the U.S.
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