The U.S. Secret Service is combining its electronic and financial crime units into a single task force that will focus on investigating cyber-related financial crimes, such as BEC schemes and ransomware attacks. The move comes as lawmakers push for the Secret Service to take a more active role in fighting cybercrime.
To mitigate cyberthreats, telecommunications companies in the GCC region need to enhance their incident detection and response capabilities, says Doha, Qatar-based Mustapha Huneyd, former global CISO of Ooredoo, a regional telecom firm.
A Nigerian entrepreneur has pleaded guilty to charges stemming from an $11 million business email compromise scheme that targeted a U.K. affiliate of U.S. heavy equipment manufacturer Caterpillar.
Southeast Asia has become a hotbed for cybercrime activities, says Anthony Bargar, former deputy CISO of the U.S. Department of Defense, who says enterprises in the region need to take a collaborative defense approach to respond to this new threat environment.
The attack sounds ripped from an episode of TV show "24": Hackers have infiltrated a government network, and they're days away from unleashing ransomware. Unfortunately for Florence, a city in Alabama, no one saved the day, and officials are sending $300,000 in bitcoins to attackers for a decryption key.
Europe is targeting financial and economic crime, including fraud and money laundering, via the new European Financial and Economic Crime Center, hosted by the EU's law enforcement intelligence agency Europol. Officials say the launch of such a center during the COVID-19 pandemic is no accident.
Addressing digital payment security challenges requires having good identity verification capabilities as well as a strong authentication process that's friction-free for consumers, says Singapore-based Gautam Aggarwal, senior vice president and regional chief technology officer, Asia Pacific, at Mastercard.
The identity and access management strategy for the remote workforce should ensure contextual authentication to establish the credentials of the users, apply risk-based authentication for measuring user risk profiles, and establish a multifactor authentication mechanism, a panel of experts says.
Fraudsters have conned Norfund, a private equity investment firm based in Oslo, Norway, out of more than $10 million in what the company calls an "advanced data breach." But the incident bears the hallmarks of a business email compromise scam.
As phishing campaigns and hacker attacks spread during the COVID-19 global pandemic, it's more important than ever for organizations to promptly report fraud to authorities to help them crack down on cybercrime, says Dr. Karnika Seth cyberlaw expert and advocate at Supreme Court of India.
Fraudsters are taking advantage of the uncertainty over the global COVID-19 pandemic to ramp-up business email compromise scams designed to steal money, the FBI and security researchers warn.
Nigerian cybercriminal gangs have become even more proficient in waging business email compromise attacks, according to an analysis from Palo Alto Network's Unit 42 that describes recent trends.
TA505, a notorious cybercriminal group believed to be operating in Russia, is using business email compromise tactics to target a new group of victims - HR departments, according to security researchers, who describe the new scheme.
Federal government agencies certainly are not immune from phishing scams, and Aaron Higbee of Cofense is focused on tackling the unique challenges that government faces in detecting and stopping the crimes.
Visser Precision, a U.S. manufacturer that supplies Boeing, Lockheed Martin, Tesla and SpaceX, appears to have been hit by the DoppelPaymer ransomware gang, which has begun leaking internal data and threatening to leak more unless the victim pays a ransom.
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