Home 2012 April
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Report Finds Increase in Malware, Targeted Attacks at Medium-Sized Businesses

According to Symantec’s annual Internet Security Threat Report, malicious attacks increased 81 percent from last year while social engineering and targeted attacks increased as well. The report also found that targeted attacks are increasing against medium-sized businesses. Read More

 
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EU Implementing Minimum Authentication Standards for PSPs

The European Central Bank has drafted a set of recommendations to increase the security of online transactions in the European Union. The expectation is to implement these recommendations as minimum standards for online payment security which internet payment service providers in the EU must meet by mid-2014. Read More

 
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IRS May Share Information with Law Enforcement to Fight Tax Return Identity Fraud

Identity thieves filing fraudulent tax returns to claim refund checks have caused headaches for hundreds of thousands of tax payers and the IRS. But proposed legislation may enable the IRS to share taxpayer information with local law enforcement agencies in efforts to combat tax return identity fraud while the IRS also considers a pilot program

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As Consumers Use Debit Cards More and Checks Less, Fraudsters Adjust Accordingly

In recent years consumers have been using their debit cards more often while relying less on paper checks, meanwhile fraud rates on these billing instruments rise and fall with consumer use, but at different rates. Read More

 
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FCC Asks Major Wireless Carriers to Build Stolen Mobile Database

AT&T, Sprint Nextel, T-Mobile and Verizon have agreed to a deal with the FCC to build and maintain a database for information on stolen mobile phones so these devices can be blocked from service. Read More

 
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Flashback Botnet Infects 600,000 Apple Computers

Apple fans and users have often bragged that viruses and security threats just aren’t as prevalent in their world as it is for the typical PC user. A recent investigation, however, uncovered a large botnet affecting more than half-a-million Mac machines. Read More

 
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Top U.S. Cities for Fraud Fraudulent Transactions

Analyzing around 1 billion transactions placed with U.S. eCommerce merchants and where they originated during the first quarter of 2012, fraud solution provider ThreatMetrix tallied a list of the top U.S. cities where fraudulent transactions are attempted online. Consider taking a closer look at transactions originating from these locations: Read More

 
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IBM Predicts Biometrics to Replace Passwords in Five Years

According to IBM, the biometric technology they are continuing to develop, such as retinal scans and voice recognition, will replace passwords and other memory-based authentication techniques in many commercial applications sometime in the next five years. Read More

 
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Common Chargebacks Often Associated with First Party Fraud

There are many schemes used to defraud eCommerce merchants which range from buying goods with compromised identity and payment account information to consumers using their real information and later abusing either the merchant’s return policies or their issuing bank’s chargeback and dispute process in attempts to keep both the purchased good or service and their

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Issuing Banks Becoming More Strict with Friendly Fraud Chargeback Claims

In response to an increasing number of consumers making erroneous chargeback claims that a good was never received or a transaction was never authorized, issuing banks have adjusted their chargeback procedures to demand more from consumers initiating the chargeback while also ruling in favor of the merchant more often than before. Read More

 
© The Fraud Practice LLC 2012