Toyota Boshoku, a seating and interiors supplier for Toyota cars, has revealed that it was tricked into moving a large amount of money into a bank account controlled by scammers. In a statement published on its global website, Toyota Boshoku Corporation said that its European subsidiary was duped into transferring approximately four billion yen (over US $37 million) out of the business and into a bank account controlled by criminals on 14 August.

The number of fraudulent email circulations seems to grow with each passing day. Scammers use email fraud with the main motive of deceiving users for their gain. This is especially true in the financial institutions where attackers use domain spoofing schemes to send emails to employees or customers.

Researchers at Sixgill recently discovered more than 23 million stolen debit and credit cards for sale on the dark web. The majority of stolen cards found on the site were issued in the US, more than 15 million, making up almost two out of every three cards. The UK was the second biggest hit. The researchers noted that only 316 stolen cards were Russian issued, claiming this is due to the relatively low GDP of the country that makes Russian citizens less attractive targets.

The elderly population in the U.S has been on a steady incline for the past few decades. With more seniors living longer new challenges arise. Unfortunately, many seniors become vulnerable to different types of abuse, neglect, and exploitation as they age. The National Council on Aging estimates that financial fraud and abuse against seniors costs older Americans up to $36.5 billion each year.

According to the Hacked Website Report by Sucuri, the number of websites getting compromised by hackers is increasing every year. The damage related to cybercrime is expected to hit $6 trillion by the end of 2020. If you are planning to launch an eCommerce website or already running a successful one, you must have to upgrade the security of your website regularly. Here, I am sharing some useful ways to keep your eCommerce site safe from hackers and fraudsters.

YouTube, the world’s top provider of streaming multimedia content, keeps reaching new heights in terms of its popularity. Nearly two billion monthly users and five billion videos watched every single day – these impressive statistics speak for themselves, and the numbers are steadily growing year over year. Everybody loves YouTube and so do cybercriminals, only in their very own nefarious way.

Netskope Threat Research Labs has recently discovered a new technique being used by scammers to reach potential victims: send emails and SMS messages that include links to common services, such as AWS, Azure, Alibaba cloud, and Google Docs. We have seen this technique used for well-known scams, like fake pharmacies, dating sites, and tech support, which seek to steal PII or blackmail victims.

In 1985, The Committee of Sponsoring Organizations of the Treadway Commission (COSO) originally formed to enable the National Commission on Fraudulent Financial Reporting. COSO’s original goal, to review causal factors leading to fraudulent financial reporting, ultimately evolved as more technologies became embedded in the process.

The US Federal Bureau of Investigations (FBI) includes the following in its definition of Internet fraud/web-based crime: phishing scams, data breaches, Denial of Service (DOS) attacks, email account compromise, malware, spoofing, and ransomware (among others). These activities cost the average global enterprise $2M in 2017 (out of the average $11.7M total cost for cybersecurity), according to last year’s “Cost of Cyber Crime” report from Accenture and the Ponemon Institute.

Cary, NC (Oct 22, 2018) - Analytics giant SAS has joined forces with leading digital identity solutions provider ThreatMetrix®, a LexisNexis® Risk Solutions Company. The alliance will help creditors better establish the “who” behind online credit applications, giving them a new edge in rooting out fraud, identity theft and synthetic identities. Today’s consumers expect to apply for credit at any time and from anywhere.