Russian-born Alexander Tverdokhlebov has been sentenced to serve nine years in U.S. prison after pleading guilty to causing damages of between $9.5 million and $25 million by running botnets, using malware to steal payment card data, selling "dumps" of that data as well as hiring money mules.
In an in-depth interview, Guru Bhat, head of engineering at PayPal, describes how the online payments provider has used a mix of sophisticated automation, including machine learning, and human insight to maintain a fraud loss rate of just 0.32 percent.
Clothing retailer Buckle says malware installed on its point-of-sale systems apparently stole customers' payment card details for nearly six months. Buckle's warning, which follows a breach alert from Kmart, shows the fight against payment card fraud is far from over.
Police in Europe have dismantled a cross-border gang devoted to perpetrating payment card fraud that they say used card skimmers, micro cameras and other devices to harvest payment card data from at least 3,000 victims.
Banks that collectively own SWIFT saw their profits vanish last year as the organization increased its investments in information security, even as the interbank messaging service handled record volumes of money-moving messages.
The annual Infosecurity Europe conference returns to London this week, offering discussions of the latest information security practices, procedures and technologies as well as deep-dives into privacy, cybercrime, policing, surveillance, GDPR and more.
Two researchers who launched a crowdsourced effort to subscribe to the Shadow Brokers' monthly leak of stolen Equation Group exploits - on behalf of the entire information security community - have dropped their effort, citing legal concerns.
A new open payments standard aims to not only enhance card security but also improve and expand the functions available through EMV. Payments expert Roger Applewhite says the standard will open new doors for cryptology and transaction routing.
Russian threat intelligence firm Group-IB alleges that North Korea is behind recent attacks against financial institutions in Europe employing fraudulent SWIFT messages. But other experts caution that such conclusions shouldn't be made solely based on technical data.
Restaurant chain Chipotle Mexican Grill says customers' payment card data was stolen via point-of-sale malware installed at the vast majority of its more than 2,000 restaurant locations for more than three weeks.
Target has reached a record settlement agreement with 47 states' attorneys general over its 2013 data breach. The breach resulted in hackers compromising 41 million customers' payment card details and contact details for more than 60 million customers being exposed.
In a rare acknowledgment of a data breach by an Indian company, online restaurant guide and food ordering service Zomata says 17 million users' email addresses and hashed passwords were stolen from its database. The company was hacked by a white-hat hacker back in 2015.
Criminals have long aimed to separate people from their possessions. So for anyone who follows ransomware, the WannaCry outbreak won't come as a shock. Nor will longstanding advice for surviving ransomware shakedowns: Prepare, or prepare to pay.
Travel industry software giant Sabre has alerted hotels that its software-as-a-service SynXis Central Reservations system - used by more than 36,000 properties - was breached and payment card data and customers' personal details may have been stolen.