Showing posts with label mobile banking fraud. Show all posts
Showing posts with label mobile banking fraud. Show all posts
Thursday, September 26, 2013
Mobile malware to have doubled in 2013, says McAfee
"The Internet security firm McAfee Labs said it identified 17,000 new unique forms of mobile malware targeting Android-based devices in the second quarter of 2013, a 21-percent rise on the 14,000 new unique strains it identified in the first quarter.
In the document, 'McAfee Threats Report: Second Quarter 2013,' the Santa Clara, Calif.-based firm said it expects malware strains to double this year from 2012. A key driver in the growth is the proliferation of backdoor Trojans that steal personal data without the victim's knowledge, along with banking malware that attacks user log-in information." Continue Reading
In the document, 'McAfee Threats Report: Second Quarter 2013,' the Santa Clara, Calif.-based firm said it expects malware strains to double this year from 2012. A key driver in the growth is the proliferation of backdoor Trojans that steal personal data without the victim's knowledge, along with banking malware that attacks user log-in information." Continue Reading
Wednesday, July 24, 2013
Mobile Banking Security - July 24
Easy Solutions Helps Fight Mobile Banking Fraud with Detect Safe Browsing (DSB) 4.0, Now Available for iPhone and Android
"Easy Solutions, the Total Fraud Protection(R) company, today released Detect Safe Browsing (DSB) version 4.0. With DSB 4.0, financial institution can provide an important additional layer of fraud prevention to the end-user, to better protect against malware and other sophisticated threats such as, pharming, man-in-the-middle (MITM) and man-in-the browser (MITB) attacks. With DSB 4.0, Easy Solutions now extends this support to the two most popular mobile platforms: Android and iOS, ensuring that over 90%(1) of mobile users can securely access their mobile banking accounts."
Threat of the Week: Time to Disconnect Android Phones?
"The news could not get worse. A week ago security firm BlueBox announced it had found a “master key” vulnerability – affecting 99% of Android phones – that theoretically would enable a cybercriminal to transform just about any app into malware. On its face, that says almost all Android phones are ticking time bombs and so the rumbling has started that just maybe credit unions and other financial institutions should politely but firmly advise their members to take their Androids elsewhere."
Banks Work Against Fraud Issues with Mobile Check Deposit
"The mobile banking feature that allows customers to deposit checks using their smartphones is now available at many banks and credit unions. Several readers have commented about the potential of fraud and abuse with this service. For example, how will banks prevent scammers from depositing a check into multiple accounts? This American Banker article, Mobile Check Deposit Boom Brings Risks, has an interesting review of the issue."
Banking Criminals Zero in on Cellphones
"Plain facts: more of us are doing a lot more reading of email, surfing of web pages and clicking on text messages on smartphones than ever before - duh. Obvious of course. What is not so obvious is that cybercriminals are connecting the dots, and they are zeroing in on the heightened vulnerabilities that come with reading on a small screen that can be downright peculiar in how legibly it shows text in lighting that is less than perfect."
"Easy Solutions, the Total Fraud Protection(R) company, today released Detect Safe Browsing (DSB) version 4.0. With DSB 4.0, financial institution can provide an important additional layer of fraud prevention to the end-user, to better protect against malware and other sophisticated threats such as, pharming, man-in-the-middle (MITM) and man-in-the browser (MITB) attacks. With DSB 4.0, Easy Solutions now extends this support to the two most popular mobile platforms: Android and iOS, ensuring that over 90%(1) of mobile users can securely access their mobile banking accounts."
Threat of the Week: Time to Disconnect Android Phones?
"The news could not get worse. A week ago security firm BlueBox announced it had found a “master key” vulnerability – affecting 99% of Android phones – that theoretically would enable a cybercriminal to transform just about any app into malware. On its face, that says almost all Android phones are ticking time bombs and so the rumbling has started that just maybe credit unions and other financial institutions should politely but firmly advise their members to take their Androids elsewhere."
Banks Work Against Fraud Issues with Mobile Check Deposit
"The mobile banking feature that allows customers to deposit checks using their smartphones is now available at many banks and credit unions. Several readers have commented about the potential of fraud and abuse with this service. For example, how will banks prevent scammers from depositing a check into multiple accounts? This American Banker article, Mobile Check Deposit Boom Brings Risks, has an interesting review of the issue."
Banking Criminals Zero in on Cellphones
"Plain facts: more of us are doing a lot more reading of email, surfing of web pages and clicking on text messages on smartphones than ever before - duh. Obvious of course. What is not so obvious is that cybercriminals are connecting the dots, and they are zeroing in on the heightened vulnerabilities that come with reading on a small screen that can be downright peculiar in how legibly it shows text in lighting that is less than perfect."
Friday, July 5, 2013
Mobile Banking Security - July 5
Banking fraud targets device vulnerabilities
"A statement released by the South African Banking Risk information Centre (Sabric) has highlighted the importance of vigorous security measures for both PC and mobile consumers to avoid banking fraud. According to Sabric, criminals are able to send malware, or malicious software, to customers’ devices, enabling them to capture keystrokes, while mobile banking takes place from that device. The malicious software can include worms, viruses or Trojans, and devices are often infected when users download software from unverified sources."
Is Mobile Guidance on the Way?
"U.S. banking institutions should be bracing now for new mobile banking and payments security guidelines from regulators or updates to existing guidance, a growing number of banking leaders and mobile experts are concluding. Recent discussions among regulators and banking leaders about mobile risks, as well as the issuance of papers related to mobile best practices, suggest some type of security update related to mobile is on the way."
ACI Worldwide Bolsters Online and Mobile Fraud Management Capabilities
"ACI Worldwide (NASDAQ: ACIW), a leading international provider of banking and payment systems, today announced the release of the latest version of ACI Proactive Risk Manager, the company’s payments fraud management solution. Designed to help customers better detect and prevent fraud across a range of payment types, Release 8.2 offers unprecedented flexibility in monitoring both online and mobile channels, as well as wholesale transactions including wire and ACH for potential fraud. This will enable businesses to more quickly and easily uncover and mitigate incidents before they adversely impact the bottom line."
"A statement released by the South African Banking Risk information Centre (Sabric) has highlighted the importance of vigorous security measures for both PC and mobile consumers to avoid banking fraud. According to Sabric, criminals are able to send malware, or malicious software, to customers’ devices, enabling them to capture keystrokes, while mobile banking takes place from that device. The malicious software can include worms, viruses or Trojans, and devices are often infected when users download software from unverified sources."
Is Mobile Guidance on the Way?
"U.S. banking institutions should be bracing now for new mobile banking and payments security guidelines from regulators or updates to existing guidance, a growing number of banking leaders and mobile experts are concluding. Recent discussions among regulators and banking leaders about mobile risks, as well as the issuance of papers related to mobile best practices, suggest some type of security update related to mobile is on the way."
ACI Worldwide Bolsters Online and Mobile Fraud Management Capabilities
"ACI Worldwide (NASDAQ: ACIW), a leading international provider of banking and payment systems, today announced the release of the latest version of ACI Proactive Risk Manager, the company’s payments fraud management solution. Designed to help customers better detect and prevent fraud across a range of payment types, Release 8.2 offers unprecedented flexibility in monitoring both online and mobile channels, as well as wholesale transactions including wire and ACH for potential fraud. This will enable businesses to more quickly and easily uncover and mitigate incidents before they adversely impact the bottom line."
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