nbsp;

Risk & Fraud

Accenture Report Reveals New Cybercrime Operating Model Among High-Profile Threat Groups

August 15 2019

“Cybercrime campaigns and high-profile advanced persistent threat groups are shifting how they target victims and focusing more on intricate relationships with “secure syndicate” partnerships to disguise activity, according to the latest 2019 Cyber Threatscape Report from Accenture (NYSE: ACN).”

On The Web

nbsp;

Reports

EAST Publishes European Fraud Update 2-2019

July 16 2019

“Two countries reported mobile wallet fraud in relation to Apple Pay. One reported that mobile wallets are fast becoming the new money mules – fraudsters are enrolling cards that are not yet associated to a specific wallet. Another country reported that fraudsters are obtaining security codes through phishing, with which they can then install a […]

nbsp;

Risk & Fraud

Japanese Exchange Bitpoint Hacked by $32 Million Worth in Cryptocurrencies

July 12 2019

• in
• Data breach

“According to a CoinDesk Japan report on Friday, Bitpoint halted all services including trading, deposit and withdrawal of all crypto assets on Friday morning after it noticed irregular withdrawal from its hot wallet on Thursday. It is not yet clear at this stage which types of assets were lost, the exchange offered trading for five […]

nbsp;

Risk & Fraud

Bitcoin ATMs Show Gap in EU’s Money Laundering Rules, Police Say

July 11 2019

“A Spanish effort to prosecute a gang that used Bitcoin automated cash machines suspected of being a front for illegal-drug payments has exposed a hole in European anti-money-laundering controls, law-enforcement authorities in the country said.    Rules designed to force money handlers to vet their clients don’t apply to the cash machines’ owners or to […]

nbsp;

Risk & Fraud

How the Accused Capital One Hacker Stole Reams of Data From the Cloud

August 5 2019

• in
• Data breach

“Ms. Thompson was allegedly able to find an opening in Capital One’s systems and exploit a weakness in some misconfigured networks, according to a Wall Street Journal analysis of hundreds of Ms. Thompson’s online messages and interviews with people familiar with the investigation. Security professionals for years have warned about that gap, which the messages […]

nbsp;

Risk & Fraud

Instagram’s Lax Privacy Practices Let a Trusted Partner Track Millions of Users’ Physical Locations, Secretly Save Their Stories, and Flout Its Rules

August 8 2019

• in
• Data breach

“A combination of configuration errors and lax oversight by Instagram allowed one of the social network’s vetted advertising partners to misappropriate vast amounts of public user data and create detailed records of users’ physical whereabouts, personal bios, and photos that were intended to vanish after 24 hours. The profiles, which were scraped and stitched together […]

nbsp;

Risk & Fraud

Mexico Considers Banning Cash for Gasoline Purchases, Highway Tolls

August 12 2019

• in
• Cash
• Money laundering

“Mexico is considering a ban on the use of cash for purchasing gasoline and to pay for tolls as a way to fight tax evasion and money laundering, according to people with direct knowledge of the discussions. The plan, which has been discussed between the banking industry and the government, hasn’t been fully approved. A […]

nbsp;

Risk & Fraud

Mexico Commerce Upended With Part of Banking System Offline

August 12 2019

• in
• Operations

“Problems at a Mexico City data-processing center caused widespread failure across the nation’s banking system on Saturday, with companies and consumers reporting a spike in declined payments and transactions.  Banks including Grupo Financiero Banorte SAB and the Mexican units of HSBC Holdings Plc and Banco Santander SA reported the problems on Twitter. The issue was […]

nbsp;

Risk & Fraud

Meet Bluetana, the Scourge of Pump Skimmers — Krebs on Security

August 15 2019

• in
• Card fraud

““Bluetana,” a new mobile app that looks for Bluetooth-based payment card skimmers hidden inside gas pumps, is helping police and state employees more rapidly and accurately locate compromised fuel stations across the nation, a study released this week suggests. Data collected in the course of the investigation also reveals some fascinating details that may help […]

nbsp;

Risk & Fraud

The Risk of Weak Online Banking Passwords

August 5 2019

“If you bank online and choose weak or re-used passwords, there’s a decent chance your account could be pilfered by cyberthieves — even if your bank offers multi-factor authentication as part of its login process. This story is about how crooks increasingly are abusing third-party financial aggregation services like Mint , Plaid , Yodlee , […]