HID Global has announced a new partnership aimed at developing anti-fraud technologies for the financial services sector.
Its new partner, ThreatMark, bills itself as an RD lab specializing in malware detection, artificial intelligence, and behavioral biometrics. The firm is based in the Czech Republic and has a London office as well.
In a statement announcing their collaboration, the companies did not offer specifics as to the solutions they will develop, but suggested that their focus would be to develop capabilities that will enable financial institutions to better detect digital threats including “malware, application hacking, phishing, account takeover, identity theft and fraudulent transactions.” HID Global added that its Identity Access Management technologies will “complement ThreatMark’s expertise in cyber-criminal detection and fraud prevention.”
“Working with ThreatMark not only provides a partnership
The coming into force of the General Data Protection Regulation in 2018 will bring a duty to report data breaches for companies, with widespread implications.
The General Data Protection Regulation (GDPR) comes into force on 25 May 2018, introducing a duty to notify the Information Commissioner’s Office (ICO) of data breaches.
Fines of a much greater magnitude can be levied by the ICO on companies failing to comply with this duty and, where personal data has been leaked, follow on claims can be expected.
Reporting companies can expect to be asked to conduct investigations into cyber security breaches and report to the ICO.
Mandatory notifications of data breaches
2018 will see the implementation of the GDPR and its mandatory duty on data controllers in the UK to notify the ICO of a data breach involving personal data. We expect mandatory reporting to increase the risk of enforcement and civil litigation for corporations following cyber
The men created a botnet, named Mirai, that federal authorities said was used in what are called distributed denial of service, or “DDOS, attacks.
the men released the code to other criminals on the internet once they the FBI was onto them. Components of it have been seen in subsequent security breaches.
In some cases, the Mirai Botnet attacks shut down websites and either slowed or temporarily shut down the upstream internet service providers, Assistant U.S. Attorney Adam Alexander said.
“Those were some of the biggest botnet-based, DDOS attacks that the internet had seen to date, and resulted in pretty serious disruption and damage both here in the United States and abroad,” Alexander said.
In a separate case, two of the conspirators committed “click fraud,” a scam that makes it appear as if thousands of people are clicking on specific online ads.
The US Securities and Exchange Commission on Tuesday announced that its new cyber unit filed charges alleging initial coin offering (ICO) fraud. A company called PlexCorps raised up to $15 million from thousands of investors
LAS VEGAS (KXNT) – A Russian cyber-criminal was sentenced Thursday to 14 years in prison for his role in a $50 million cyber fraud ring and for defrauding banks of $9 million through a hacking scheme.
Acting Assistant Attorney General John P. Cronan of the Justice Department’s Criminal Division, Acting U.S. Attorney Steven W. Myhre of the District of Nevada, U.S. Attorney Byung J. Pak of the Northern District of Georgia, Assistant Special Agent in Charge Michael Harris of U.S. Immigration and Customs Enforcement’s Homeland Security Investigations (ICE HSI), Special Agent in Charge Brian Spellacy of the U.S. Secret Service in Las Vegas, and FBI Special Agent in Charge David J. LeValley in Atlanta made the announcement.
Roman Valeryevich Seleznev, aka Track2, Bulba and Neux, 33, was sentenced by U.S. District Judge Steve C. Jones of the Northern District of Georgia to serve 168
A Russian cyber criminal already serving a 27-year sentence in federal prison has been given an additional 14 years for his role in a $50 million scheme that involved trafficking stolen credit card numbers.
The Justice Department on Thursday sentenced Roman Seleznev, the son of a member of Russian parliament, to additional jail time for his role in the organized cybercrime ring and for defrauding banks of $9 million through a computer hacking scheme.
Seleznev has also been ordered to pay over $50 million in restitution, according to federal officials.
Seleznev pleaded guilty in both criminal cases, which were investigated in Nevada and Georgia, in early September.
The 33-year-old Russian was previously convicted in federal court in Washington on 38 counts related to his role in a wire fraud and computer hacking scheme targeting U.S. businesses.
Federal officials say that Seleznev netted over $169 million in profits from hacking into point-of-sale computers, stealing
Londoners are falling victim to at least 3,500 cyber fraud attacks a month, police revealed today.
Scotland Yard warned that the scale of the problem could be far greater because such offences were “vastly under-reported”.
The Met now says it wants to encourage stronger links with private sector volunteers to combat cyber crime.
Detective Chief Inspector Gary Miles, head of the Falcon cyber fraud unit, said one of the most prolific scams was online advertising fraud offering non-existent properties for sale or rent.
Others include romance frauds — tricking people into meeting their “perfect partner” through dating websites — and identity frauds, where criminals use victims’ details from social media. Individuals and businesses also face phishing emails, ransomware attacks and more complex hacking raids.
Mr Miles said his detectives were investigating about 1,000 “volume
Misspending government funding tops the list of current fraud risk areas, ahead of cyber crime and money laundering, according to accountancy firm Moore Stephens and the Chartered Institute of Public Finance and Accountancy (CIPFA).
Almost half of accountants surveyed by Moore Stephens and CIPFA said grant fraud – where an individual, business or charity applies for
A Mebane woman was jailed Tuesday, Nov. 7, after an Alamance County Sheriff’s Office investigation into a series of complaints alleging identity theft, credit card fraud and harassment.
Kristin Marie Stubbs, 51, 2561 Farrell Road, Mebane, was held in the Alamance County jail under a $58,000 secured bond. She was charged with identity theft, unlawfully obtaining a credit card, financial card fraud and violation of a court order. Outstanding warrants on cyber stalking and failure to appear in court were also served at the time of her arrest, the Sheriff’s Office said in a news release.
According to the Sheriff’s Office:
— On Oct. 18, Stubbs was the subject of a harassment complaint. The court had previously issued a no-contact order against Stubbs regarding the victim of that complaint.
— On Oct. 23, Stubbs was identified as the suspect in a “separate and unrelated” case of identity theft.
Hyderabad: The cyber crime unit of Cyberabad arrested a five-member Nigerian gang for cheating under the pretext of selling a medical product on Saturday.
The arrested accused were identified as Naagbo Benson Orayjuka, Neharika alias Noori Deep Oroyjuka, Nilesh Umesh Kumar, Anaya Linus Egwuchulewu and Vchena Fidelis Vqwu.
The gang has cheated in the name of products by cocodyma potogia, a dry nut used for medicines.
The arrest was made in Mumbai by the cyber crime unit based on a complaint from Kailash Choudhary, a businessman from Hyderabad, in which he stated that he contacted them via Facebook and ordered a sample for Rs 1.95 lakh.
“They asked the victim to pay Rs 26 lakh and when the businessman refused, they stopped replying,” said cyber crime officials. A team was sent to arrest the gang and incriminating materials were recovered from them. A few members of the gang are absconding.