Blog Posts Tagged with "Account Fraud"

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Insider Threat: Former PNC Manager Pleads Guilty to Bank Theft

May 25, 2012 Added by:Headlines

Laird stole the funds through a number of means: opening credit accounts in her father’s name without authorization; making redemptions from CD accounts of five customers; opening checking accounts in other names and wroting checks to pay her personal bills and expenses...

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Manager of Phishing Ring Sentenced to Five Years in Prison

May 15, 2012 Added by:Headlines

A principal figure in the domestic arm of an international “phishing” operation that used spam e-mails and bogus websites to defraud American banks was found guilty of bank and wire fraud, identity theft, computer fraud, and money laundering and sentenced to five years in federal prison...

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How to Protect Yourself from Skimmers

February 28, 2012 Added by:Christopher Rodgers

When you swipe your credit or debit card, are you handing over your personal information to criminals? Skimming is a process scammers use to steal credit or debit card information. Scammers use devices called skimmers to accomplish skimming in everyday transactions...

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Remote Deposit Capture (RDC) Could Escalate Fraud

November 22, 2011 Added by:Headlines

"With banks and financial institutions expanding this service to a retail customer base that often undergoes less stringent due diligence than do their commercial customers, is the potential for fraud increasing?"

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Five Information Security Issues We All Face Today

November 09, 2011 Added by:Bozidar Spirovski

Technology has done a great deal for changing the way we live and do business today. While the benefits are numerous, however, there have been challenges that come with that development. Here’s a look at some of the information security issues we all face...

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Javelin Study Shows Increased Credit Card Fraud Risk

November 01, 2011 Added by:Robert Siciliano

Not a week goes by when we don’t hear of another major breach affecting thousands or even millions of customer accounts. Criminal hackers are getting smarter and savvier all the time, and they often have better technology than the banks and retailers tasked with protecting your data...

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Citigroup Faces Class-Action Lawsuit for May Breach

October 10, 2011 Added by:Headlines

“Defendants have taken no steps that adequately or effectively protect cardholders against illegal use of the cardholders’ sensitive and extensive financial records since the breach,” the suit states. Officials estimate that $2.7 million was stolen from 3,400 accounts in the attack...

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Study Shows Banks Blocking More Fraud

October 07, 2011 Added by:Robert Siciliano

The FS-ISAC consists of a group of banks that shares threat information and interacts with the federal government on critical infrastructure issues. Its members include Citi, Prudential, Bank of America, JPMorgan Chase, Goldman Sachs and Wells Fargo, among others...

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Usernames and Passwords Are Facilitating Fraud

September 30, 2011 Added by:Robert Siciliano

Here we are in 2011 and well over half a billion records have been breached. While not all of the compromised records were held by financial institutions or were accounts considered “high-risk”, many of those breached accounts have resulted in financial fraud or account takeover...

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FBI Investigating Over 400 Corporate Account Takeovers

September 16, 2011 Added by:Headlines

"The FBI is currently investigating over 400 reported cases of corporate account takeovers in which cyber criminals have initiated unauthorized ACH and wire transfers... These cases involve the attempted theft of over $255 million and have resulted in the actual loss of approximately $85 million..."

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New SpyEye Variant Targeting Android Devices

September 15, 2011 Added by:Headlines

The new variant is designed to harvest text messages that contain a one-time use code sent to customers by institutions as an added security measure for clients engaged in mobile banking transactions, making SpyEye an even more powerful tool for stealing financial login credentials...

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U.S. Bank Employee Pleads Guilty to Account Theft

September 01, 2011 Added by:Headlines

Hurtado accessed U.S. Bank’s computer system and changed the contact information for the accounts of two elderly customers at the bank. After changing their contact information, Hurtado then allegedly closed these accounts and took out cashier’s checks for the balance of each account...

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Identity Theft Has Long Lasting Psychological Effects

August 19, 2011 Added by:Robert Siciliano

The lack of specifics makes it difficult for victims to attain any closure and move forward. “No matter how well they monitor their financial records for the rest of their lives, they may still feel vulnerable,” Van Vliet says...

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Are Hijacked Facebook Accounts Identity Theft?

August 08, 2011 Added by:Kelly Colgan

An interesting Appellate Court opinion was recently issued that requires us to acknowledge the expanding realm of our own identity footprints and the need for evolving views of how we define identity theft. The case stemmed from a Juvenile Court case in Kings county California...

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Fraudulent Credit Applications Start with the Device

June 28, 2011 Added by:Robert Siciliano

Device fingerprinting coupled with the device’s reputation and risk profile helps identify the bad guys in the acquisition channel, so you don’t have to rely on other fraud detection tools that drive up the cost to decision an application...

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Bank Employee Arrested for Hijacking Accounts

May 26, 2011 Added by:Headlines

Hurtado secretly accessed U.S. Bank’s computer system and changed the contact information for the accounts of two elderly customers. After changing their contact information, Hurtado then allegedly closed these accounts and took out cashier’s checks for the balance of each account...

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