More businesses lost larger sums of money to phone scams in past year

Fraudulent phone calls have been an issue for years, and they’re becoming more common. According to a recent report from Truecaller, 59.49 million Americans lost money to scam calls in the past year, costing $29.8 billion. These threats have risen in both number and cost, and businesses can’t afford to ignore this trend. Small and medium-sized businesses are popular targets for fraud, as they often have less security.


Lookout Unearths Android Crypto Mining Scams

Cryptocurrencies, once the exclusive domain of an idealistic fringe movement, have recently become attractive to mainstream retail investors. During the COVID-19 pandemic, the valuation of cryptocurrencies rose exponentially, reaching a market capitalization of over $2 trillion. Cybercriminals are always looking for the path of least resistance to make money and cryptocurrencies are now in their crosshairs.


How to Prevent Man-In-The-Middle Attacks and Fight Financial Fraud

You just started reading this blog post. But are you reading it alone? Or is there a “man in the middle” watching and recording everything you do online? While it may sound like a plot from a Hollywood blockbuster, the reality is far from amusing. A man-in-the-middle (MitM) attack can quickly occur when an unsuspecting victim joins the same public Wi-Fi network as a malicious attacker, for example, at a cafe.


Top 5 Scam Techniques: What You Need to Know

Scammers are increasingly resourceful when coming up with scam techniques. But they often rely on long-standing persuasion techniques for the scam to work. So, you may hear about a new scam that uses a novel narrative, but there is a good chance that the scam relies on proven scam techniques once the narrative is stripped away. These scam techniques often exploit our characteristics and heuristics, or things that make us human and fallible.


How can businesses stay ahead of loyalty point fraud?

In our recent webinar featuring Netacea’s Head of eCommerce, Tom Platt, we explored the rising threat of loyalty point fraud and how businesses can reap the benefits of loyalty schemes while staying protected from attacks and retaining customer loyalty. Watch the full webinar on demand or catch up on the takeaways here.


How data poisoning is used to trick fraud detection algorithms on ecommerce sites

Artificial intelligence (AI) and machine learning (ML) systems have become the norm for using client data to provide recommendations to customers. As more people are working from home and conducting business online, it is imperative that fraud detection software is used to protect user information. But these protective systems also utilize ML to automate the process and understand when a potential attack is taking place.


Why False Declines Cost You More Than Fraud and What to Do About It

Do you remember a time when you were amped up to buy that new pair of shoes, or any special item online – only to have your credit card or other payment information (which you know is real), declined? All of that time spent browsing, selecting, getting off of your couch to find your credit card, entering payment information wasted? You are not alone!


Are fraudsters using automation to execute mass cyber-attacks?

As our digital world turns toward advances in automated technology to increase efficiency and productivity, cybercriminals are also learning how to execute mass automated cyber-attacks. According to the 2021 AT&T Cybersecurity Insights Report, most people are concerned about the security of various applications and 52% believe that these threats challenge the integrity of networks.


New SMS Phishing Campaigns Target Retail Customers

SMS-based phishing attacks are nothing new. They’ve been around in one form or another since the technology became mainstream in the mid-90s, and more so since the introduction of smartphones a decade and a half ago. However, in their latest incarnation, AKA Smishing, such attacks are progressively executed on a scale never seen before. In the last couple of months, Cyberint has seen an increase of SMS phishing attacks targeting the customers of retail companies.


Ofwat reveals it has received 20,000 spam and phishing emails so far this year

Ofwat, the water services regulator for England and Wales, has revealed that it has received over 20,000 spam and phishing emails so far this year. The Water Services Regulation Authority (better known as Ofwat) which is the government department responsible for regulating the privatised water and sewage industry in England and Wales, said it had received 21,486 malicious emails so far this year – with 5,149 classified as phishing attacks.