A fraudulent e-commerce website promoted by Facebook has led to the victimisation of at least 1000 people while unknown victim figures are likely to be much higher.
The best way to avoid account opening fraud is to detect fraudsters before they can gain access to any account opening processes. Other fraud detection techniques include location analysis, checking for automation vs human etc
Learning algorithms are capable of recognising patterns in data and discern fraudsters from legitimate clients by correlating thousands of pieces of information that, most probably, wouldn't be otherwise noticeable to a human.
Even once there's buy-in from fraud and infosec teams, there are often fundamental disconnects in perceptions and points of view that can get in the way of working together.
Fraud-minded spammers continue to globally exploit the zeitgeist of current events that make opening unsolicited email irresistible, accounting for the 59 percent increase in phishing attacks last year.
The travel industry needs to act swiftly: the airline sector alone faces estimated losses of €1 billion a year from ticket fraud. It's time to improve fraud prevention and get better at attempts to hack back-end systems.
The small US Iowan city of Keokuk has disclosed that a cyber-criminal used a phishing scam to fraudulently obtain an electronic file containing the 2017 W-2 tax forms of current and former employees and elected officials.
Fictional cryptocurrency SpriteCoin cooked up by cyber-crooks as a ruse to infect wannabe miners with a particularly devilish ransomware program.
Certificate authority Let's Encrypt has disabled TLS-SNI-01 validation on its service. Through the vulnerability, a hacker could have requested certificates for domains that were not theirs.
Action Fraud, the UK's national fraud and cyber-crime reporting centre, has launched a 24/7 live cyber-attack helpline. During its pilot since October 2016, Action Fraud's 24/7 cyber-helpline received 377 reports.
Consumers are now able to authenticate themselves with their credit and debit card issuers when buying online by using web browsers or via mobile applications using the new EMV® 3DS standard, designed to cut online card fraud.
Cyber-criminals took advantage of popular cryptocurrency exchange Poloniex's lack of an official app to dupe unsuspecting users into downloading credential stealing malware.
Fraud and computer misuse offences accounted for almost half of the 10.8m criminal acts recorded by the Office for National Statistics (ONS) in its Crime Survey for England and Wales (CESW), accounting for some 5m crimes.
Banks face a new hybrid threat from hackers that has already netted criminals a cool £30 million, according to a new report.
Flashpoint researchers spotted Russian speaking cyber-criminals using Voice over Internet Protocol (VOIP) services to bypass phone call transaction verifications.
Ukrainian police arrested a man earlier this month for helping spread the NotPetya ransomworm through his social media outlets.
The company rushed to emphasise that he did not fall for a type of crime which it protects against.
As fraud rises, a new report has revealed that biometric-based authentication is set to become more prevalent in the UK.
New report from security company Trustwave illustrates a wave of crime looking to steal payment information from those in the hospitality, retail and food and beverage industries.
The biometrics firm argues that the issues with biometrics often cloud over the benefits gained from using them.
The European law enforcement organisation says that thanks to the malicious activities carried out by the group, 3,000 victims have lost roughly half a million Euros.
David Emm discusses the various types of tax scams and top tips for staying safe when managing tax affairs this year.
John Cannon evaluates the debate on the impact of Brexit on fraud in the UK, examining the reasons why fraud may not be as catastrophic as businesses think.
A survey conducted by new data global law firm Paul Hastings reveals fears British consumers have when using new payment methods.
Carl Boraman looks at the analytics available from cloud-based services and what customers can do to detect fraud in VoIP services.
Financial Fraud Action UK (FFA UK) has released official figures showing that the UK lost £2 million each day during 2016 as a result of financial fraud.
Nine out of 10 fraudulent applications for bank accounts and other financial products made online.
According to Rik Ferguson, VP of security research at Trend Micro, businesses should be paying close attention to how their business operates and ensuring they secure the process, and don't allow anyone to hack it.
New survey indicates 3 million British businesses were compromised by cyber-attacks last year.
More than half of retail fraud is now cyber-enabled, amounting to approximately £100 million in losses.