Collaborate Disseminate
Two Muscovites have been sentenced to years in prison for their roles in the biggest data breach conspiracy ever prosecuted in the United States. Three co-conspirators are still at large. Vladimir Drinkman, 37 and Dmitriy Smilianets, 34, had previously… Continue reading Russian hackers sentenced to prison in US for compromising 160 million credit cards
Identity fraud is one of the biggest fears associated with data breaches involving personally identifiable information. No one wants someone to compromise their financial or credit accounts, or worse yet — have their identity successfully stolen…. Continue reading Identity fraud adapts to new defenses, study finds
DataVisor, a company that uses machine learning to detect fraud, announced a $40 million Series C funding round Monday led by Sequoia Capital China. The company, founded by two former Microsoft Research employees, uses unsupervised machine learning to discover malicious behavior. Unsupervised learning allows machines to track patterns across data sets in order to make decisions on their own, as opposed to supervised learning, which trains computers through data feeds provided by engineers. DataVisor detects various types of fraud and abuse, including fraudulent transactions, fake content, spam and abuse, identity theft, application fraud and money laundering. The company says its technology protects 2 billion users globally, with a client list that includces Pinterest, Yelp, Alibaba Group, Dianping, Toutiao, Cheetah Mobile and Tokopedia. “Enterprises today are facing constantly evolving threats from sophisticated and tech-savvy fraudsters who continuously experiment and find ways to evade detection,” said Yinglian Xie, CEO and co-founder of DataVisor. “This new […]
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Continue reading DataVisor raises $40 million Series C for machine-learning fraud detection
IBM Security’s “Future of Identity Study” found that consumers don’t trust social media networks to securely collect their identity data, such as biometrics and other PII.
The post IBM Study Shows Consumers Don’t Trust Social Networks With Identity Data appeared first on Security Intelligence.
Continue reading IBM Study Shows Consumers Don’t Trust Social Networks With Identity Data
A Treasury Department watchdog says the Internal Revenue Service has made progress in improving its identity management controls for people filing their taxes online, but still has some work to do when it comes to identifying fraudulent profiles and activity. The Treasury Inspector General for Tax Administration (TIGTA), which audits the IRS, released a report Thursday appraising the agency’s implementation and improvement of authentication controls. TIGTA credited the IRS for requiring taxpayers to use two-factor authentication to log on to use the IRS’s online services. The auditor also said the IRS improved its ability to automatically to monitor activity across different systems and detect any anomalies. “Using this tool, the Cyber Fraud Analytics group identified fraudulent activity in which fraudsters improperly used data stolen from sources outside of the IRS to successfully perpetrate a small number of targeted attacks,” TIGTA said. However, the auditor added that those monitoring tools need […]
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Continue reading Watchdog: Despite progress, IRS needs to improve electronic fraud detection
To defeat increasingly sophisticated fraudsters, security teams should pair their fraud detection tools with a device ID spoofing mechanism that automatically adapts to new threats.
The post Why Device ID May Not Be Enough to Stop Fraud appeared first on Security Intelligence.
Continue reading Why Device ID May Not Be Enough to Stop Fraud
Financial institutions looking to improve the customer experience in 2018 should implement multilayered security solutions to crack down on identity theft and detect new account fraud.
The post New Year, New Account Fraud: Identity Theft May Be Holding Back Your Customer Experience Resolutions appeared first on Security Intelligence.
You may have heard of catfishing, where people lure romancers online by faking their identity. But what about catphishing? This dangerous practice uses similar romantic triggers, only its goal is to dupe users and businesses out of personal info.
… Continue reading Bad romance: catphishing explained
While consumers can’t change their personal information, they can take preventative measures to protect their data from new account fraud.
The post Don’t Be Catfished: Protecting Yourself From New Account Fraud appeared first on Security Intelligence.
Continue reading Don’t Be Catfished: Protecting Yourself From New Account Fraud
New account fraud is rising in popularity among cybercriminals due to the frequency with which users are opening new online banking accounts.
The post Massive Identity Data Exposure Leads to Rising Tides of New Account Fraud — What’s Next? appeared first on Security Intelligence.