The Financial Fraud Epidemic
As the COVID-19 pandemic turns one, bankers and cyber experts reflect on the rapid rise of scams and fraud schemes aimed at banks and their customers.
Browsing: Social engineering
Executive Privacy Breaches: Serious Risks for Banks
Criminals do not need to bother scouring the depths of the dark web to dig up this personal information. Too often, it’s sitting out in the open for all to see.
Podcast: Predicting Bank Risk in an Unpredictable Year
What’s top of mind for community bank risk managers in 2021? Kristina Schaefer provides an overview of what’s on her radar screen as chief risk officer and general counsel at First Bank and Trust.
Emerging Vectors for Payments Fraud
With EMV card deployment reducing fraud at the point of sale, cyber-criminal schemes are targeting email, mobile devices and other channels.
Bonus Podcast: Cybersecurity Trends for 2020
According to a recent survey of community bankers, cybersecurity was the highest-rated risk concern, with over 96% of community bank CEOs reporting that they considered it an important or very important risk factor for their bank.
Report: Email Impostor Fraud Up 60% Year-on-Year
Imposter attacks against financial services organizations rose by 60% from the end of 2017 to the end of 2018, according to a report released today by cybersecurity firm Proofpoint.
FBI: Social Engineering Scams Cost U.S. Businesses $1.6B since 2013
Social engineering wire transfer scams cost U.S. businesses nearly $1.6 billion between October 2013 and December 2016, according to figures from the FBI’s Internet Crime Complaint Center yesterday.
FinCEN Issues Advisory on Email Compromise Fraud
With email compromise schemes — in which criminals fraudulently persuade individuals and companies to transfer funds — on the rise, the Financial Crimes Enforcement Network issued an advisory to financial institutions today to help them identify and prevent these frauds.
FBI Issues Warning about Email Scams
The FBI yesterday issued a notification warning companies of the ongoing threat of business email compromise scams that caused losses of nearly $76 million between December 2015 and March 2016.
ABA, FS-ISAC Issue Statement on SWIFT Compromises
In response to recent high-profile compromised communications sent through the SWIFT communications network, ABA — together with the Financial Services Information Sharing and Analysis Center and other financial groups — today issued a statement with insight and analysis on the incidents, as well as recommendations for mitigating cyber risks.