Behind every business is a group of individual employees. And, in most cases — and for most firms — those individuals use their work, or even personal, email accounts to conduct business. That one fact alone makes them a prime target for bad actors and...
What’s better than $10,000? Try $25 million. That, it appears, is the thinking of an emerging cohort of bad actors and financial criminals behind a worrying rise in commercial banking fraud. After all — why target individuals when you can target big ticket business-to-business (B2B)...
Cybercriminals have shown over the past year that sophisticated technology is not always necessary to carry out successful cyberattacks. Several incidents in 2023 have highlighted the effectiveness of simple hacking techniques in breaching security, Bloomberg reported Wednesday (Dec. 27). One notable trend is the use of social...
Financial fraud remains a persistent challenge across industries, and its threat is further sharpened by technological complexity and the growing sophistication of bad actors. “Fraud is growing and the recipes are getting slicker,” Gerhard Oosthuizen, CTO at Entersekt, told PYMNTS. “It is dovetailing nicely with generative AI...
June 24, 2024
As travelers pack their bags for long-awaited summer trips, a new breed of scammer is tagging along — powered by artificial intelligence (AI). From fake rental listings to phantom flight deals, AI-assisted travel fraud is surging, leaving vacationers out of pocket and out of luck. Industry watchdogs and cybersecurity experts warn that traditional safeguards are […]
December 18, 2023
Financial fraud remains a persistent challenge across industries, and its threat is further sharpened by technological complexity and the growing sophistication of bad actors. “Fraud is growing and the recipes...
November 06, 2023
The holidays are upon us, and gift cards remain a favorite to give and receive. And the fraudsters lie in wait — armed with advanced technologies and sophisticated schemes. Doriel...
September 28, 2022
No matter where you look, fraud attacks on banks and merchants are on the rise. The fraudsters are getting more creative in their schemes, leveraging the great digital shift to...
December 27, 2023
Cybercriminals have shown over the past year that sophisticated technology is not always necessary to carry out successful cyberattacks. Several incidents in 2023 have highlighted the effectiveness of simple hacking techniques in breaching security, Bloomberg reported Wednesday (Dec. 27). One notable trend is the use of social engineering tactics by hackers, according to the report. The hacking […]
August 07, 2023
Social engineering enabled the July 22 hacker attack and theft of $37 million from crypto payments provider CoinsPaid. The hackers gained access to an employee’s computer by contacting them with...
