The Snifula family of malware has been making a name for itself recently in Japan, targeting multi-national and smaller regional financial institutions alike. The effectiveness of this kind of malware is putting banks at risk in other parts of the world too, including North and South America. Our research indicates that most financial institutions in …
Last week, reports flooded security forums and publications highlighting an increase in the rate of a fraud attack named Operation Emmental. The threat type was first noticed by security companies approximately 5 months ago, but the recent rise in successful attacks against mobile banking users has been alarming and underlined the effectiveness of the attack. …
Over the last two years, we have seen a tremendous increase in mobile malware, which grew 167 percent in the past year, according to the June 2014 McAfee Labs Threat Report. Here are two major reasons why mobile malware is increasingly the preferred method of attack for fraudsters: 1. As EMV technology is deployed in …
Cybersecurity risks remain the same for all financial institutions, regardless of size or resources. The FFIEC recently announced that examiners will be conducting "state of cybersecurity assessments" this summer, specifically targeting community banks. Examiners want to ensure that cybersecurity is engrained into the culture of all financial institutions, and that management is well aware of …
At Easy Solutions, we spend a lot of time anticipating fraud trends so that we can develop solutions quickly and ensure that our customers are always ahead of the game when it comes to fraud protection. This week, we added and enhanced several features to our anomaly detection solution, DetectTA, which now has the ability …
I write this post with mixed feelings about the adoption and use of crypto and digital currencies. For those who might not know, cryptocurrencies like Bitcoin, Dogecoin and others offer digital online wallets of virtual money. Initially envisioned as irreversible ‘peer-to-peer’ trustless exchanges, these currencies claim to offer the possibility of anonymous transactions between strangers, …
One of the things that we do at Easy Solutions, to help protect banks from fraud, is perform passive monitoring on paste sites, social media sites, and the black market. We see all kinds of crazy things and we wanted to share this example. In the case below, we found what appeared to be source …
InfoRiskToday (http://www.inforisktoday.co.uk/) has a great article out today, that highlights some of the key developments in the P.F. Chang's breach. While there are no indicators of card fraud yet, we'll be monitoring closely for any activity. Easy Solutions' Bryan Jardine also shares his insights within the piece, noting that "Often the valuation of a card decreases …
I read with interest the news that two 9th graders (14-year olds) in Canada found an online manual for a Bank of Montreal (BMO) ATM machine, and hacked in to Operator mode. The “damage” these two inflicted was to change the ATM surcharge (the amount the ATM owner charges the consumer during the transaction) to …
Over the last decade, I have spent the majority of my time focused on strategic planning for fraud prevention and fraud program enhancements. During this time, I have met and spoken with countless financial and law enforcement professionals who are facing the challenges of ever-changing fraud environments. Due to the nature of fraud, my programs …
