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Banking Fraud

Russian cyber crime market more organized, lucrative

Dan Kaplan April 24, 2012

Traditional mafia groups are entering the cyber crime scene in Russia, which is leading to more centralization and professionalization -- and bigger profits.

Malicious Android application loots bank login data

Marcos Colon March 19, 2012

Criminals are lessening their reliance on the PC. The latest proof is a rogue Android application that seeks to steal Spanish banking credentials through a man-in-the-middle-style attack.

Case study: SunTrust Bank and Trusteer

Greg Masters March 06, 2012

One of the nation's largest banking organizations determined to help its clients protect themselves against online fraud.

Secret Service charges Romanian man with ATM fraud

Dan Kaplan January 09, 2012

A Romanian citizen, with an expired U.S. visa, has been arrested on charges of serving as the "installer" of skimming devices on some 40 ATMs in the New York City area.

NYC authorities charge 55 in cyber fraud, ID theft ring

Angela Moscaritolo December 19, 2011

The defendants were part of a coordinated operation that resulted in the theft of more than $2 million from JP Morgan Chase Bank, TD Bank, Citibank, Discover and American Express.

Court tosses claims against Heartland Payment over breach

Angela Moscaritolo December 13, 2011

After more than two years of litigation, a U.S. District judge has dismissed nine of the 10 causes of action brought forth as part of a class-action lawsuit by nine banks.

Crooks using Zeus in new Facebook attacks

Angela Moscaritolo November 30, 2011

Variants of the Zeus trojan are being used in new Facebook and banking heists, security researchers and law enforcement are warning.

In the vault: The Coastal Bank and IronKey

Greg Masters November 29, 2011

A Georgia bank found a tool to protect financial transactions and payments...while meeting compliance demands, reports Greg Masters.

ACH debit transfer emails leading to malware

Angela Moscaritolo November 10, 2011

Attackers have been circulating a trojan via email messages with subjects such as "ACH payroll payment was not accepted by Central Trust and Savings Bank."

Keep your PCs closed to online criminals

Mike Cote, vice president, Dell SecureWorks October 14, 2011

Small and midsize businesses have been hit hard by corporate bank account takeovers. But there are easy-to-implement techniques to ensure the criminal passes them over in favor of a lower-hanging fruit.

More than 100 charged in ID theft ring

Angela Moscaritolo October 10, 2011

The organized structure of a huge identity theft operation, based in New York, allowed members to make millions in profits.

Official: FBI investigating 400 bank account takeovers

Dan Kaplan September 19, 2011

Despite fresh guidance and quicker fraud detection, the FBI actively is investigating more than 400 cases of corporate bank account takeovers, an official told federal lawmakers last week. Gordon Snow, the FBI's assistant director of the cyber division, told a House Financial Services subcommittee that these cases, in which criminals initiate unauthorized Automated Clearing House and wire transfers from seized accounts belonging to mostly small and midsize businesses, have resulted in the attempted theft of more than $225 million and actual losses of around $85 million. In his remarks, Snow also discussed risks related to ATM skimming, mobile banking and supply chain compromise.

Hacker "soldier" steals $3.2 million from U.S. companies

Angela Moscaritolo September 15, 2011

Researchers at Trend Micro say they have been hot on the tracks of a corporate hacker, and now they are turning over their findings to U.S. law enforcement.

Account takeover still common, but getting detected faster

Dan Kaplan August 25, 2011

A new survey from FS-ISAC shows that corporate account takeover remains a persistent issue for banks, but they are getting better at detecting the fraud before any money changes hands.

Criminals abusing Amazon cloud to spread SpyEye

Angela Moscaritolo July 29, 2011

Amazon's Simple Storage Service (S3) is being used to host malicious sites distributing the nefarious banking trojan.

FBI warns of millions lost in fraudulent transfers to China

Dan Kaplan April 27, 2011

The FBI is probing 20 new cases of U.S. businesses losing millions of dollars to cybercriminals, who then siphoned off the cash to accounts in China.

Zeus botnet targeting Macy's, Nordstrom account holders

Angela Moscaritolo December 09, 2010

A new Zeus botnet is targeting the credit card accounts of several major U.S. retailers, including Macy's and Nordstrom, according to researchers at online banking security firm, Trusteer.

Murky FinCEN SAR reporting: Is malware responsible?

Charles Jeter, ESET cybercrime investigator October 22, 2010

In a direct 10-year comparison, the Delaware banking industry's overuse of the FinCEN SAR category of 'Other' mirrors the growth pattern of the malware industry year after year. Are these related?