Cyber Fraud

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.

More cyber crime rings will be broken up in 2012, but the risk/reward ratio for cyber crime will remain criminal friendly.

Victories in the fight against cybercrime, from indictments and arrests to asset recovery, should be celebrated, even if there are not yet enough of them.

Businesses in North America are expected to lose $210 million this year to corporate bank account takeovers, according to a new report from financial research and consulting firm Aite Group. The report, "Banks and Business in the Crosshairs: Cybercrime and Its Impact," estimates that losses from these seizures, by which hackers gain control of online bank accounts to make unauthorized transfers, will grow to $371 million by 2015. Moreover, the number of new, unique strains of malware released each year is expected to increase - from 25 million by the close of 2011 to 87 million by the end of 2015.

If the policy discussion around digital risks continues on its current course, the U.S. government may make some unwise decisions, according to a new academic research paper.

The FBI issued a warning on Wednesday about so-called "smishing" and "vishing" scams, which are likely to be prevalent this holiday season.

To get a basic understanding of what drives cyber fraudsters, ESET's Jeff Debrosse provides some insight as to what makes them tick.