Financial Fraud

Security firm notes sharp increase in SMS phishing attacks


Researchers at security firm Cloudmark have seen a 913 percent increase in daily SMS phishing reports.

Securities fraud hacker charged after $1 million heist


A Russian national is in custody in Newark, N.J., facing charges of hacking into the web accounts of several brokerages to initiate sham stock trades that allegedly netted $1 million.

Court tosses claims against Heartland Payment over breach


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.

Three indicted in New York on ATM skimming charges


Two of the three men accused of swiping the debit card credentials of 1,490 ATM users in Manhattan remain behind bars. The other defendant is at large.

Banker trade group warns of phishing uptick


Cybercriminals typically ramp up their phishing efforts during the holiday season and following natural disasters, according to the American Bankers Association.

More than 100 charged in ID theft ring


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

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


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.

Hackers compromise Wisconsin arcade supplier's credit card systems


The personal information of tens of thousands of individuals is at risk after hackers broke into the credit card processing systems of Vacationland Vendors

Bitcoin currency exchange compromised, database stolen


The largest Bitcoin currency exchange market, Mt.Gox, is currently offline after suffering a cyberattack that caused the market to crash.

New trojan aims to steal Bitcoin virtual currency


Criminals are targeting the digital currency Bitcoin with new malware designed to steal victims' online wallets, several security firms warned this week.

Judge rules bank not at fault for corporate account fraud


In a potentially precedent-setting court ruling, a U.S. magistrate judge has ruled that a bank is not responsible for covering the loss of nearly $300,000 that was illegally wired out of the bank account belonging to a Maine construction company.

DoJ, FBI disable massive Coreflood botnet


Federal authorities have taken over the control hub of the prolific Coreflood botnet and filed a civil complaint against 13 unnamed defendants.

Trojan steals session IDs, bypasses logout requests


A new banking trojan targeting U.S. customers has the ability to keep online account sessions open after customers believe they have logged off, enabling criminals to surreptitiously steal money.

FDIC phishing emails use Patriot Act scare tactic


Fraudulent emails claiming to come from the Federal Deposit Insurance Corp. (FDIC) are attempting to trick users into handing over their sensitive personal information, the agency said in a warning issued Wednesday to clients and customers. The messages claim that the FDIC has withdrawn deposit insurance from the targeted user's account "due to account activity that violates the Patriot Act." Recipients are directed to follow a link included in the message that could lead to phishing sites or malware, the agency said. Financial institutions and consumers should not follow the link or provide any personal information. - AM

Murky FinCEN SAR reporting: Is malware responsible?

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?


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