Tagged: cybercriminals

February 25, 2025 @ 9:32 pm By Omar Faridi  |  

In 2024, cybersecurity firm Kaspersky reportedly blocked 26% more phishing attempts worldwide compared to the previous year. Cybercriminals continued to capitalize “on well-known brands like Booking, Airbnb, TikTok and Telegram to steal credentials or install malware.” Additionally, users encountered more than “125 million attacks involving… Read More

February 6, 2025 @ 3:12 pm By Omar Faridi  |  

Kaspersky has discovered a new data-stealing Trojan, SparkCat, active in the Apple App Store and Google Play. This is said to be the “first known instance” of optical recognition-based malware appearing in AppStore. Kaspersky said they found comments in the code written in Chinese, possibly… Read More

August 5, 2024 @ 8:31 am By Omar Faridi  |  

With a vast array of tools and samples at their disposal, organized ransomware cybercriminal groups often have proprietary ransomware samples, while standalone criminals frequently rely on leaked DIY variants to launch their attacks. Latest research by Kaspersky reveals the recent ransomware attacks “using the leaked… Read More

June 9, 2023 @ 3:16 pm By Omar Faridi  |  

On June 8, 2023, Binance, which is being sued by US regulators for a wide range of issues, conducted a one-day training program in collaboration with Taiwan’s Criminal Investigation Bureau (CIB) in Taipei. This collaboration is “part of their broader commitment to contribute to combating… Read More

April 20, 2023 @ 8:31 am By Omar Faridi  |  

The digital bank N26 announced its new campaign, “Security Explained Simply” in order to help “decode the increasingly complex landscape of security in digital banking.” Each of the five updates featured in the campaign “discuss a separate security concept narrated by a character that relates… Read More

December 22, 2022 @ 8:45 am By Omar Faridi  |  

Group-IB, which claims to be one of the global cybersecurity leaders, has presented its findings about Godfather, an Android banking Trojan that is currently being utilized by cybercriminals “to attack users of leading banking and crypto exchange applications in 16 countries.” To date, Godfather has… Read More

December 11, 2022 @ 12:30 pm By Omar Faridi  |  

LexisNexis Risk Solutions released the results of its first Global State of Fraud and Identity Report, exploring research and insights from industry experts “on recent statistics and trends from [their] industry-recognized studies on the Global True Cost of Fraud and transaction data from over 39B transactions… Read More

November 8, 2022 @ 11:40 am By Omar Faridi  |  

Since its inception, SEON has been making effective online fraud prevention more accessible for “all businesses operating online.” Now, the company has “taken the next step in that mission by announcing a ‘forever free’ version of its online fraud prevention platform.” The free plan will… Read More

October 10, 2022 @ 10:11 pm By Omar Faridi  |  

Visa Inc. (NYSE:V), the leader in digital payments, shared an updated look at how fraud has evolved since the height of the pandemic, with criminals simultaneously “targeting online and offline vulnerabilities as our daily lives return to a blend of in-person and e-commerce experiences.” Paul… Read More

August 31, 2022 @ 10:00 am By Omar Faridi  |  

The FBI [Federal Bureau of Investigation] is warning investors that cybercriminals are “increasingly exploiting vulnerabilities in decentralized finance (DeFi) platforms to steal cryptocurrency, causing investors to lose money.” The FBI has “observed cybercriminals exploiting vulnerabilities in the smart contracts governing DeFi platforms to steal investors’… Read More

August 22, 2022 @ 8:43 am By Omar Faridi  |  

The past 12 months have seen phishing attacks rise 29% globally to reach a new record of 873.9M attacks, with the highest uptake of over 400% in the retail and wholesale industries, according to the 2022 ThreatLabz Phishing Report by ZscalerTM. The United States, Singapore,… Read More

July 11, 2022 @ 7:47 pm By Omar Faridi  |  

Cybercriminals have reportedly “duped” a senior engineer at a crypto-based online gaming company, Axie Infinity, into applying for a job at a “fictitious” company. The result: “the loss of $540 million in cryptocurrency,” according to an update shared with CI (and also widely reported). While… Read More

April 19, 2022 @ 8:34 am By Omar Faridi  |  

CipherTrace, a Mastercard Company, has reported a significant increase in the number of payments “made to ransomware groups in 2021.” The growth in this criminal enterprise “is so large that the first six months of 2021 saw payments that matched the whole of 2020.” With… Read More

December 21, 2021 @ 4:29 pm By Omar Faridi  |  

We recently connected with Hubert Rachwalski, CEO at Nethone, a company focused on a “Know Your Users” strategy to resolve fraud, so clients are able to gain more loyal customers while rejecting only fraudsters. Hubert talked about how cybercriminals are attempting to exploit online platforms… Read More

August 9, 2021 @ 8:36 pm By Omar Faridi  |  

Carole House, Director of Cybersecurity with the White House National Security Council, recently discussed online security issues at the FinCrime Virtual Week. Blockchain security firm CipherTrace notes in a recent update that headlines such as the Colonial Pipeline Ransomware attack indicate that cybercrime is “on… Read More

May 16, 2021 @ 1:36 pm By Omar Faridi  |  

The team at blockchain analytics firm Elliptic revealed recently that they followed the Bitcoin (BTC) ransoms paid by Colonial Pipeline and other DarkSide ransomware victims. Dr. Tom Robinson, Co-founder and Chief Scientist at Elliptic, regularly discusses crypto forensics, investigations, compliance, and sanctions. Elliptic clients are… Read More

May 14, 2021 @ 1:57 pm By Omar Faridi  |  

UK Finance, a trade association for the UK banking and financial services sector (representing around 300 local companies offering credit, banking, markets and payment-related services), has shared an analysis of almost 7,000 authorized push payment (APP) scam incidents. The analysis reveals that around 70% of… Read More

April 29, 2021 @ 8:35 am By Omar Faridi  |  

Almost three-quarters or 75% of financial institutions have reported an increase in cybercrime activities since the Covid-19 outbreak (around February 2020), according to a survey released by BAE Systems. The survey of 902 banking institutions and insurance providers, based in the US and the UK,… Read More

February 7, 2021 @ 10:53 am By Omar Faridi  |  

European online lender October recently alerted consumers about the money muling fraud. The company explained what usually takes place when bad actors carry out these fraudulent activities and shares tips to avoid getting scammed. October notes that if you’re being offered “opportunities” to make easy… Read More

December 9, 2020 @ 7:36 am By Omar Faridi  |  

The global shift by individuals and organizations towards working from home during the COVID-19 pandemic has led to a significant increase in the overall costs related to cybercrime – which is on track to surpass $1 trillion this year for the very first time ever…. Read More