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.
Deploying layered fraud protection is a must for financial institutions in order to protect customers, meet compliance regulations, and reduce fraud losses. It is good for the customer, good for business, and makes life a bit easier for fraud managers and executive management. Sometimes lost in the decision making process, however, is that strong fraud protection is good for marketing. Read more
The new Shellshock vulnerability that affects the bash shell is one of the kind of vulnerabilities that makes old infosec guys chuckle. The bash vulnerability and its exploitation is not a marvel of complexity. We’ll get into the specifics of how it works shortly. But first, let’s address who’s at risk. Read more
As a security provider focused solely on fraud detection and prevention, Easy Solutions has a unique perspective on fraud as it occurs around the world. Trends like the adoption of digital payment services and mobile device use vary by geography, and have a direct influence on fraud. Here are five trends we are watching as it relates to fraud in Europe, that will likely impact the landscape in both the short- and long-term.