Automated cyber-attacks are on the rise across industries and platforms, as fraudsters update old techniques to gain control of users’ machines for their own nefarious purposes. This article looks at botnet attacks-what they are, how they are used to conduct large-scale fraud, and how knowledge and best practices can help prevent account takeovers and widespread
Understanding the human side of fraud might be the most important aspect of digital security. Trusting in others is natural and something that we need to have a productive society-without it, our very way of life and everyday interactions cease to exist. But the human desire to trust is exploited every day by fraudsters using
As more of our financial and personal lives happen online, the incentives for fraud and theft continue to grow. While inelegant, brute force attacks to take over accounts continue to be effective and popular. In the last quarter of 2021 alone, brute force attacks increased a staggering 274%. These hacks are frustrating, time-consuming, costly and
Account takeover (ATO) plagues digital businesses and cause significant financial and reputational losses. This persistent and often sophisticated tactic affects individuals and industries across demographics and industries. According to Consumer Affairs, 72% of financial institutions reporting that account takeovers are their primary security concern. As more of our daily lives move online, ATO attempts are
Although most consumers are aware of traditional identity theft, many are unaware of the many techniques fraudsters use to steal millions of dollars from their accounts daily. According to a recent public service announcement, the Internet Crime Complaint Center received 1,611 SIM swapping complaints in 2021, an alarming increase from the reported 320 complaints from
Got a social security number? How about a name and address? With just a few pieces of personal information like these, a skilled fraudster can create a synthetic identity. Synthetic identity fraud is a crime where bad actors create fake identities by combining bits of real information, like valid social security numbers, with fake information,
Netflix’s latest true-crime documentary “The Tinder Swindler” has taken the internet by storm. The documentary chronicles the dating horror stories of three women who were defrauded by Simon Leviev, the alleged son of a billionaire and diamond tycoon. Leviev wined and dined his Tinder matches and shared his lavish lifestyle – private jets, caviar-filled meals,
Fake users infecting social networks, fintech platforms, and ecommerce sites is a problem growing at an alarming rate, and the costs are real. Recent Wall Street earnings highlight that fake users are more than a nuisance – they can damage your reputation and cause monumental financial and market value losses. Enterprises can no longer ignore
Phishing attacks are when a fraudster sends out deceptive messages, typically via email, dressed up to appear valid. When recipients fall victim to a phishing email or SMS, thieves often steal information such as banking or credit card details or infect their device with malware. Nearly 75% of companies claimed to have been impacted by
The holiday season brings an influx of activities involving making purchases, booking travel plans, giving to seasonal charities, and more. With this ramp-up comes the potential for fraud to rear its ugly head. Fortunately, with a bit of planning and forethought, you can drastically reduce the chances of holiday fraud. This article will prepare