Tag: banking

Fraud

Will Big Data Transform Fraud Detection? | SmartData Collective

The folks over at Smart Data Collective have an interesting story today on Big Data and its (expected) impact on a variety of industries and business practices. Fraud (and fraud detection), it turns out, may be one area that is transformed by better data analytics. According to the article, by Monte Zweben, fraud analytics are posed to be transformed not just by “Big Data,” but by better and faster analytics. The article looks at a variety of industries, including consumer marketing and logistics that stand to benefit from the growth in data and data analytics. Fraud detection is one of them. Zweben cites statistics on the growth of fraud as a global problem. Kroll’s most recent Global Fraud Report found the number of companies falling victim to fraud has increased to 70 per cent. Credit card companies were among the first to embrace “Big Dat” analytics to spot irregularities in patterns of charges […]

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The Home Depot Logo

Report: Home Depot A Common Thread Linking Trove Of Stolen Credit Cards

Home Depot said it is investigating “some unusual activity” on its networks and working with “banking partners and law enforcement,” after security blogger Brian Krebs named the company as a common thread connecting a trove of stolen credit card accounts that have appeared in underground forums.  Krebs reported on Tuesday that “multiple banks” see evidence that Home Depot stores are the source of a “massive new batch” of stolen credit and debit cards that went on sale this morning in underground “carding” forums. The breach is believed to have affected Home Depot stores throughout North America – around 2,500 stores in total. The company has held off from confirming a breach, so far. And as of early Wednesday, Home Depot’s home page made no mention of the incident. In a statement to Reuters, spokesperson Paula Drake said that the company is holding off pending an internal investigation, and is working with law enforcement. […]

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Moscow International Business Center

Must Read: How Russian Hackers Stole the Nasdaq – Businessweek

If there’s one story you should read this week, its Michael Riley’s extensive report over at Businessweek on the 2010 compromise of systems belonging to the Nasdaq stock exchange, “How Russian Hackers Stole the Nasdaq.” The incident was extensively reported at the time, but not in great depth. Obviously, the parties involved weren’t talking. And Nasdaq’s public statements about the compromise woefully downplayed its severity, as Riley’s report makes clear. Among the interesting revelations: the Nasdaq may have fallen victim to a third-party compromise – similar to the hack of Target earlier this year. In the case of Nasdaq, investigators from the FBI, NSA and (eventually) CIA found discovered that the website run by the building management company responsible for Nasdaq’s headquarters at One Liberty Plaza had been “laced with a Russian-made exploit kit known as Blackhole, infecting tenants who visited the page to pay bills or do other maintenance.” What’s clear is […]

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Update: Cyber Spies Digging For Clues On Iraq?

The folks over at CrowdStrike have dug deep into a campaign of targeted cyber attacks targeting Washington D.C. think tanks and say they have evidence that whomever is behind the attacks has taken a sudden interest in U.S. policy towards Iraq. Editor’s Note: This story was updated to include comments from Adam Meyers, Vice President of Security Intelligence at CrowdStrike. – PFR July 8, 2014 14:30 Writing on Tuesday, CrowdStrike CTO Dmitri Alperovitch described a new campaign by a group they dubbed “DEEP PANDA” that was targeting think tanks specializing on U.S. foreign policy and national security. Alperovitch said CrowdStrike observed a pronounced shift in targets from think tank experts on Asia to experts on Iraq and the Middle East in recent weeks. The shift corresponded with the rapid escalation of violence in Iraq as the Islamic extremist group ISIS took control of large parts of the country. “This actor, who was engaged in […]

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Boleto Malware

RSA: Boleto Fraud Ring in Brazil Linked To Billions in Bogus Transactions

RSA, the security division of EMC Corp. said on Wednesday that its researchers uncovered a massive online fraud ring that has infiltrated The Boleto, a popular payment method in Brazil. RSA said in a blog post on Wednesday that a coordinated investigation a “Boleto malware or ‘Bolware’ fraud ring that may have compromised 495,753 Boletos transactions over a two-year period. The value of the transactions is estimated at $3.75 billion USD, or $8.57 Brazilian Reals.  The Boleto is a popular and regulated electronic payment system that is the second most popular form of payment in the country, after credit cards. According to RSA, the malware in question allows attackers to carry out man-in-the-browser attacks that modify transaction details on an infected client system so that funds are directed into mule banking accounts controlled by the fraudsters. RSA researchers discovered 8,095 fraudulent Boleto ID numbers tied to 495,753 compromised transactions. The Bolware botnet is […]

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