On The Web

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Risk & Fraud

Payfone Partners With TransUnion to Identify Bank Customers

January 24 2020

“Consumer credit reporting agency TransUnion has been named as the primary data provider for Payfone , which provides mobile and digital identity authentication solutions to top U.S. financial institutions. The partnership will enable Payfone to use TransUnion’s algorithms to strengthen the accuracy of its fraud detection capabilities”

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Risk & Fraud

Lawmakers Prod FCC to Act on SIM Swapping — Krebs on Security

January 10 2020

• in
• SIM Swap

“Crooks have stolen tens of millions of dollars and other valuable commodities from thousands of consumers via “SIM swapping,” a particularly invasive form of fraud that involves tricking a target’s mobile carrier into transferring someone’s wireless service to a device they control. But the U.S. Federal Communications Commission (FCC), the entity responsible for overseeing wireless industry practices, […]

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Risk & Fraud

Chinese Mobile Payments Users Report High Levels of Fraud

January 10 2020

A survey of more than 150,000 Chinese digital payment users has found that two-thirds have come across deceptive QR codes and 40.8% have had their codes surreptitiously forwarded to other people in the past year.

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Risk & Fraud

Unpatched VPN Makes Travelex Latest Victim of “REvil” Ransomware

January 8 2020

“Security researcher Kevin Beaumont found that Travelex had seven unpatched Pulse Secure servers. An exploit for the vulnerability has been available on Internet bulletin boards since August of 2019.”

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Risk & Fraud

As Ransomware Spreads, Ransoms Balloon And Attacks Grow More Sophisticated

January 28 2020

“The criminals behind ransomware attacks are becoming dramatically bolder. The average payment demanded in fourth-quarter attacks reached $84,116, more than double the average sum in the third quarter, according to the latest data from Coveware Inc., a Westport, Conn.-based cybersecurity firm that tracks data from cases it has handled. Worse yet, that average ransom has […]

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Risk & Fraud

Wawa Breach May Have Compromised More Than 30 Million Payment Cards — Krebs on Security

January 28 2020

“In late December 2019, fuel and convenience store chain Wawa Inc. said a nine-month-long breach of its payment card processing systems may have led to the theft of card data from customers who visited any of its 850 locations nationwide. Now, fraud experts say the first batch of card data stolen from Wawa customers is being sold […]

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Risk & Fraud

Ransomware Attacks Grow, Crippling Cities and Businesses

February 10 2020

“New Orleans’s city government crippled. A maritime cargo facility temporarily closed. Hospitals forced to turn away patients. Small businesses shuttered. The cause in each of these incidents: ransomware attacks. In recent years, hackers have taken to locking down entire computer networks and demanding payments to let users back into their systems.”

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Risk & Fraud

Travelex Puts Money Transfer Systems Online After Cyberattack

January 30 2020

“Travelex has said that its international money transfer service in the UK is fully operational as the firm seeks to recover from a damaging cyberattack . A majority of Travelex services are still down The attack, which occurred on New Year’s Eve 2019 , forced the foreign exchange company to shut down its websites and […]

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Risk & Fraud

British Court Freezes $860,000 in Bitcoin Linked to Ransomware Payout

January 29 2020

“The victim of the ransomware attack had paid $950,000 in bitcoin to the perpetrator through an insurance company, according to a filing published last week by the England and Wales High Court (Commercial Court) and first reported by New Money Review . While some of the bitcoin was converted into fiat currency, the remainder appears […]

On The Wires

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Risk & Fraud

Chinese Military Personnel Charged with Computer Fraud, Economic Espionage and Wire Fraud for Hacking into Credit Reporting Agency Equifax

February 10 2020

““This was a deliberate and sweeping intrusion into the private information of the American people,” said Attorney General William P. Barr, who made the announcement. “Today, we hold PLA hackers accountable for their criminal actions, and we remind the Chinese government that we have the capability to remove the Internet’s cloak of anonymity and find the hackers that nation repeatedly deploys against us. Unfortunately, […]