Deepfake technology, powered by artificial intelligence (AI), is reportedly becoming a favored tool for criminals engaged in imposter scams, posing a significant threat to individuals and the banking industry. This surge in cybertheft and financial scams has prompted regulators, law enforcement agencies and financial institutions...
Digital authentication company Twilio said some employees and customers were victims of a hack, a Bloomberg report said Monday (Aug. 8). The hackers tricked employees into giving up their passwords. The report said attackers targeted Twilio employees with fake texts, which said the staffers’ password...
The typical image of digital fraud is that of criminals forcing their way into systems and secretly stealing money or data without victims’ knowledge. Some fraud is even more brazen, however. Social engineering scams rely on tricking individuals with fraudulent interactions that appear legitimate, thereby ensnaring...
At a time when more consumers are being tricked into giving fraudsters access to their money and accounts, Valley Bank’s Milliesia Armogan explains why customer education is a bank's best weapon in the fight against increasingly sophisticated social engineering fraud.
March 04, 2024
Behavioral fraud and social engineering scams are getting more dangerous for businesses. Despite the increasingly sophisticated weapons fraudsters have on hand to execute their scams, social engineering tactics remain one of their most effective ploys. This, as a study published Thursday (Feb. 29) by researchers at the University of Texas at Austin found that at least $75 […]
August 22, 2023
Deepfake technology, powered by artificial intelligence (AI), is reportedly becoming a favored tool for criminals engaged in imposter scams, posing a significant threat to individuals and the banking industry. This surge in cybertheft and financial scams has prompted regulators, law enforcement agencies and financial institutions to take urgent action to protect consumers, Bloomberg reported Tuesday (Aug. […]
August 08, 2022
Digital authentication company Twilio said some employees and customers were victims of a hack, a Bloomberg report said Monday (Aug. 8). The hackers tricked employees into giving up their passwords....
