Articles about fraud

Cybersecurity researchers at Malwarebytes say they have uncovered a phishing campaign in which scammers pose as Netflix recruiters to target jobseekers, particularly marketing professionals.

The goal is to trick victims into handing over their Facebook credentials, potentially compromising both personal and business accounts.

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A new kind of savings account built to stop fraud before it starts is now available nationwide. Fort Knox Bank’s High-Security Savings Account, developed by Austin Capital Bank, removes passwords entirely and uses biometric identity verification with proprietary Closed-Loop technology to keep criminals out.

The launch comes at a time when U.S. consumers are facing unprecedented levels of financial crime. According to the Federal Trade Commission, losses from fraud hit $12.5 billion in 2024, a 25 percent leap from the year before.

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AI-powered fraud is evolving faster than most organizations can detect it. That’s the message from Proof, the identity authorization company, in its new report, The Trust Ledger: Transaction & Identity Fraud Bulletin.

The research reveals how synthetic identities, stolen credentials, and generative AI are fueling a surge in digital impersonation and fraud across industries.

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Tricking applications into altering their processes or surrendering information is a highly efficient way for attackers to carry out theft or fraud while minimizing the risk of detection.

We asked Mohammad Ismail, VP of EMEA at Cequence Security, to explain how this business logic abuse is carried out and why it’s becoming a growing problem.

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As summer travel plans ramp up, so do concerns around identity theft, fraud, and safety – especially as travelers engage with everything from airlines to Airbnbs, ride shares to public Wi-Fi.

We spoke to Bala Kumar, chief technology and product officer at Jumio, to discuss the AI-powered scams threatening enterprises' customers this summer, and how businesses can ensure safe, secure, and efficient identity verification.

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International bad actors -- like fraudsters from Russia and China -- are driving one in eight fraud attempts in the US, seeking everything from access to government services to loans, according to a new report.

During the pandemic, government agencies were flooded with fraudulent applications that went undetected by outdated methods. This study from Socure shows AI-powered technologies are enabling fraudsters to supercharge their efforts, hitting government agencies and commercial entities at once, with relentless speed, and at scale.

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Digital security is undergoing profound transformations catalyzed by the shortcomings of traditional authentication methods. Security strategies often force businesses to choose between robust defenses that frustrate users and seamless experiences that heighten vulnerability. Recently, behavioral biometrics -- using unique users’ digital interaction patterns -- has emerged to offer a compelling resolution to this longstanding challenge by providing continuous, invisible authentication based on unique human behaviors.

Behavioral biometrics can best be understood as digital body language. Like physical mannerisms, such as walking gait or vocal tone, users exhibit distinctive digital behaviors in interacting with their devices -- from typing rhythms and mouse trajectories to touchscreen pressures and even how devices are held. Behavioral biometrics captures and analyses these subtle distinctions to establish a unique digital fingerprint that fraudsters -- and their machinations -- find nearly impossible to replicate. By integrating behavioral biometrics into security and anti-fraud frameworks, organizations can attain a sophisticated balance between strong, proactive fraud postures and the frictionless user experiences that modern consumers expect.

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A new report reveals that 73 percent of UK fraud professionals report that online fraud has negatively affected their company's revenue in the past year.

The UK Fraud Industry Pulse Survey from Veriff shows 72.5 percent of businesses have seen an increase in online fraud over the past 12 months.

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With fraud on the increase and more sophisticated attack methods being used, payments company Visa is turning to AI to help businesses and financial institutions fight back.

It's introducing ARIC Risk Hub, developed by Featurespace -- a company recently acquired by Visa -- which uses adaptive AI to build profiles around genuine customer activity making it easier to spot suspicious actions.

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Lookalike domains, crafted to closely resemble authentic domains, enable a wide range of deceptive activities. By sending emails that appear to originate from trusted sources, attackers can effectively conduct a variety of scams from phishing and social engineering attacks to invoice fraud.

A new report from BlueVoyant looks at how cybercriminals encourage their victims to click on lookalike domains, whilst highlighting the critical need for vigilance and proactive measures to counteract these threats.

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As we approach the 31st March deadline for compliance with the new PCI DSS 4.0 payment security standard, new data from Cequence Security shows automated fraud is increasing with retailers facing 66.5 percent of all malicious traffic.

Using data from real transactions and attack data from Cequence's Unified API Protection (UAP) platform, the report highlights the growing attack surface cybercriminals exploit in payment infrastructure, loyalty programs, and product pricing systems.

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A new report from Sift reveals an alarming democratization of cybercrime, with 34 percent of consumers seeing offers to participate in payment fraud online, an 89 percent increase over 2024.

The report details how fraudsters openly advertise and sell stolen payment information and fraud services on social media platforms and deep web forums like Telegram, significantly lowering the barrier to entry for anyone to participate in fraudulent activities.

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With deepfakes getting more sophisticated and harder to detect both organizations and individuals are at risk of falling victim to fraud and phishing attempts.

We spoke to SURF Security CTO, Ziv Yankovitz, to learn more about the increasing threat of deepfakes and best practices that can be used to for combat attacks.

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Businesses could be forfeiting up to five percent or more of their revenue to fraud, considering the hidden costs of operational inefficiencies, compliance penalties and customer attrition, according to a new report.

Based on responses from almost 600 decision-makers and strategic leaders across financial services, fintech, payments, eCommerce and iGaming, the study from fraud prevention and compliance specialist SEON, finds budget allocations indicate that 86 percent of companies are spending over three percent of revenues on anti-fraud measures.

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AI-generated voice impersonation scams are an increasing threat, with 31 percent of US consumers, 27 percent of Canadians, and 26 percent of UK consumers reporting encounters with deepfake fraud calls.

A new report from Hiya, based on data from the company's Voice Intelligence Network and a January 2025 survey of 12,000 consumers across the US, Canada, the UK, Germany, France, and Spain, shows that more than 30 percent of those targeted fell victim, suffering significant financial losses. In the US, the average reported loss was $539, while UK victims faced the steepest losses at £1,479 ($1,867).

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