This week we launched a new addition to the Total Fraud Protection platform—DMARC CompassTM. DMARC Compass is a cloud-based service that was built to fill a giant, gaping hole in most anti-fraud programs and to provide huge and wide-ranging benefits to infosec, marketing, advertising, legal and sales teams. The problem with B2B or B2C email is two-fold—email is critical and nobody trusts it, especially with 100 billion pieces of spam sent on a daily basis. Read more
Today, we announced a new product offering in our fraud intelligence family of products called DMARC CompassTM. If you are not yet familiar with the term, Domain-based Message Authentication, Reporting & Conformance or DMARC, is a technical specification and emerging standard designed to help reduce email fraud. You can read some earlier blog entries and announcements that we have made here, here and here.
We have recently become aware of a new scheme targeting businesses through some of the partners they trust and are closest to – their vendors and third-party providers. We are seeing evidence of these schemes popping up in the Deep Web – the black markets where criminals often sell the credentials or information they have to offer to other criminals eager to act on that information. In this emerging man in the middle scheme, fraudsters convince businesses that their vendors’ bank account information has changed, thereby funneling legitimate payments into illegitimate accounts.
Almost every day we hear of a new retailer that has experienced a data breach, frustrating financial institutions that must then deal with the fall-out. According to the recent Faces of Fraud survey, conducted by ISMG, over 70% of financial institutions were impacted by the Target breach last December alone. But how does the fraud economy work? What exactly happens to all this data that is stolen? How is it sold, and what is it worth?
As IOS8 was made available last month, numerous organizations have jumped on Touch ID fingerprint bandwagon and updated with their application with Touch ID support. I think this is a step in the right direction as passwords are slowly becoming a thing of the past and have shown to be easily hacked by most hackers. Not only are passwords weak protection against breaches, they are also hard to memorize especially with volume of password a single person has to remember and the different and often complex configurations sites require today. Read more
The Total Fraud Protection team at Easy Solutions is delighted to announce that the latest version of our transaction monitoring solution, DetectTA, is now available. DetectTA’s new capabilities include an innovative fraud alert review process and case management resources aimed at increasing fraud detection rates and giving users more flexibility when investigating new cases of fraud. Read more
Apple Pay went live yesterday. And while there has been much talk about how it’s going to disrupt the payment system, and how easy it will be to use, security is once again being overlooked in the urgency for speed and convenience above all else. Read more
Every major world crisis represents a new opportunity for fraudsters to take advantage of our good faith and the Ebola virus is no different. Different advisories have been issued cautioning banks and other organizations to reemphasize their customers the necessary skepticism with opening, clicking, or answering Ebola-based notifications. Read more
Keyloggers are one of the most effective forms of malware for stealing sensitive personal information and access to financial accounts because they are so common and difficult to detect on end user devices. Victims often don’t even realize a keylogger has been installed on a device until they find out that money has been removed from their bank account. Furthermore, cybercriminals are constantly improving the deployment of keylogger attacks through new and emerging technologies and using increasingly sophisticated techniques to avoid being discovered. Read more
Unsurprisingly, Bash has been dominating countless new sites over the past week. I recently spoke to Penny Crosman with American Banker and she wrote a story on what bankers need to know about Bash – it’s a must read.