Bank fraud

How to Lie to Your Bank and Get Away With It

While we talk about the periodic leakages of personal information from Facebook and how that information is leveraged by cybercriminals, the community of Facebook users can change their ways. Let’s pair up victims with criminals based on what’s broadcast by the victim. Here are Facebook’s seven deadly sins matched up with the most likely categories

Banking Fraud? Tell me and tell me quick!

In the survey, banks that were notifying consumers as quickly as possible or immediately across multiple channels performed well [and] they also improved cardholder confidence. Notifications over multiple channels were also significant.

European Cybercriminal Gangs Target Middle America SMBs

 Better get your CFO to review UCC Article 4A and realign protocols with your business bank – The clear and present danger to our banking through malware hits at the heart of our economy: the SMB. Stealthy malware-based theft of funds start the clock ticking much quicker than most SMB owners realize and without action

Facebook checked out, 1.5 million accounts overdue for password changes?

The Internet is abuzz with the announcement from Verisign’s iDefense Labs that a criminal hacker on a Russian forum who goes by the nom-de-plume "Kirllos" (Carlos?) is selling the credentials for 1.5 million Facebook accounts in batches of a thousand for between $8 and $30, depending upon their quality (which, in this case, means dates

Insider Threat: Malware on your ATM

  Insider Threat – your ATM may now be hacked from the inside. According to Wired’s Threat Level Blog… A Bank of America worker installed malicious software on his employer’s ATMs that allowed him to make thousands of dollars in fraudulent withdrawals, all without leaving a transaction record, according to federal prosecutors. According to the

Damn The Icebergs, Full Steam Ahead!

A couple of weeks ago I posted an entry on here about the size of the cybercrime problem from a dollar perspective. I pointed out that is was reported that US banks had lost US$40 million per month for the third quarter of 2009 due to online banking fraud. Also, the 2009 Internet Crime Report

We’re Not Talking Peanuts Here, Folks

We have recently seen some reports that give some idea of the real size of the cybercrime problem. Recently Federal Deposit Insurance Corporation (FDIC) Examiner Dave Nelson reported that online banking fraud involving the electronic transfer of funds cost US banks more than $40 million dollars per month for the third quarter of 2009. The

PIN Money

Further to an earlier blog about the "broken" Chip & PIN credit card security system (strictly speaking, the primary problem described is with EMV), it's noticeable that, as John Leyden puts it, "Industry groups [have] leap[t] to Chip and PIN's defence." In fact, the response has been a bit more mixed than that. But there

Has Chip & PIN Had Its Chips?

[Update: added some extra links at http://avien.net/blog/?p=422] Here, so to speak, is a bit of hot potato*. Flippancy notwithstanding, this isn't really funny. For several years now, Brits have enjoyed a banking card system called chip and PIN, a simple form of two-factor authentication for in-person credit and debit card transactions. In countries where the

Verified by Visa – Pushmi-pullyu*

* http://en.wikipedia.org/wiki/Pushmi-pullyu#The_Pushmi-pullyu In an article in the Register with the eye-catching title of "Verified by Visa bitchslapped by Cambridge researchers", John Leyden comments on the argument by Cambridge researchers Ross Anderson and Steve Murdoch that the 3D Secure system, better known as Verified by Visa or Mastercard Securecode is better suited to shifting liability for

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