2024 is witnessing a surge in fraudulent activities, with techniques evolving swiftly. Staying informed is crucial to safeguard yourself and your customers in this ever-changing landscape.
The Fraud Bulletin is a bimonthly newsletter that shares the latest news, resources, and expert insights on both fraud trends and the technology that is fighting fraudsters on the front line.
A company lost $25 million after an employee was tricked by deepfakes of his coworkers on a video call: police
Takeaway: The concerns about deepfake technology being used for fraud reaches new heights: scammers made off with about $25 million after they used deepfake technology to trick an employee at the Hong Kong branch of a multinational company.
FinCEN underlines financial sector collaboration to address digital identity threat
Takeaway: The US Treasury Department's Financial Crimes Enforcement Network (FinCEN) released its Identity Financial Trend Analysis, offering a look at how bad actors are exploiting identity-related processes during account openings, access and transactions to perpetuate crimes.
Inside the Underground Site Where ‘Neural Networks’ Churn Out Fake IDs
Takeaway: A site called OnlyFake uses “neural networks” to generate realistic looking photos of fake IDs for $15- and its technology threatens to streamline everything from bank fraud to money laundering, and has huge implications for cybersecurity.
Pig Butchering Crypto Scams Advance to As-a-service Schemes
Takeaway: Fraud as a Service continues to advance with a new business model: sha zhu pan kits, also known as pig butchering. With origins in organized crime in China, these kits can help scammers conduct elaborate, romance-based cryptocurrency fraud.
What Is Friendly Fraud (and How Can You Combat It)?
While businesses must prevent a variety of fraud types, the most dangerous fraud is often the one that goes unnoticed for extended periods, and with no way of identifying malicious activity or the extent of damage caused. Continue reading ...
9 cybersecurity trends to watch in 2024
Analysts and experts like Blair Cohen of AuthenticID are sharing their cybersecurity trends and predictions for 2024. From zero-day attacks to generative AI security and increased regulations, is your organization ready? Continue reading ...
Our 2024 report is full of the latest fraud trends, tactics, and technologies. Plus, we are providing valuable insights from both business leaders and consumers in the realms of identity fraud, business challenges, and technology adoption. ... (no sign-up required)
