Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

Customer fraud losses and remediation are often integrated as an inevitable cost of doing business Fraud’s impact on the bottom line is often considered when pricing products and services. This has happened since the first thief swiped a product from a marketplace stand. Today, scams responsible for severe business impact have become increasingly sophisticated, and the creeping costs are increasingly hard to budget for.

Vishing attacks, also known as voice phishing scams, are the newest way for cybercriminals to take advantage of weak spots. What is a vishing strike, though? Vishing is a type of social engineering scam in which people are tricked into giving up private information like passwords, credit card numbers, or business details over the phone or through voice mail. Vishing is different from phishing emails because it involves talking to people in person.

Forget ‘billions’, fraud is now a trillion-dollar challenge according to McKinsey, with phishing, account takeovers (ATOs), and credential-based attacks driving unprecedented losses. Needless to say, this step change underlines the urgency for scam-prone enterprises to add further protective layers as part of a fraud prevention strategy that combines emerging technologies.

For decades, we have all been warned to be appropriately skeptical of internet search engine results. Sadly, most people are not. Most people think that what Google, Bing, or Duck Duck Go brings back is heaven sent and can be trusted. It cannot. Results often include malicious links from search engine optimization (SEO) poisoning, where the attacker has been able to trick the search engine into returning its URL when a user searches for something.

The FBI issued an advisory on December 3rd warning the public of how threat actors use generative AI to more quickly and efficiently create messaging to defraud their victims, echoing earlier warnings issued by Trustwave SpiderLabs. The FBI noted that publicly available tools assist criminals with content creation and can correct human errors that might otherwise serve as warning signs of fraud.

A brushing scam occurs when you receive a package containing items you never ordered. The unexpected package will be addressed to you, but it will most likely not have a return address on it. Some scammers send packages through popular third-party sellers, such as Amazon, to make you believe you’ve received a package by mistake.

Technological advances usually lead to a brighter future. While that may be true, these developments could also be used to refine and increase cybersecurity scams. Attackers do not care about who they target as long as they get people's and establishments' information and credentials. Cybersecurity professionals must be aware of the current scams plaguing the digital world and how to combat them. Here are a few examples and their implications for the future.

We kicked off the holiday shopping season with expectations of sales, but beware: a new wave of fake e-shops is spreading on the internet.

MobiFin, a leading provider of unified digital banking and payment solutions, has entered into strategic partnership with INETCO, an innovative real-time transaction monitoring and fraud prevention company. INETCO has established a significant global footprint by implementing its innovative solutions across more than 27 nations, serving some of the most prominent financial powerhouses worldwide.