A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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February 9, 2022
On the wires
“Today, as part of our ongoing efforts to enforce our Terms and protect people against abuse, Meta and a financial services company filed a joint lawsuit against two Nigerian-based individuals engaged in international financial scams through online impersonation…Between March 2020 and October 2021, the defendants engaged in phishing attacks intended to lure people using Facebook and Instagram to phishing websites with the goal of compromising their financial services accounts for profit.”
May 19, 2021
On the web
“While some parts of the economy slowed in 2020, criminals paid no mind to that as their phishing attacks against companies in the financial sector increased 45% over 2019 to 3.4 billion, Akamai Technologies Inc. found in its “State of the Internet / Security report: Phishing for Finance” released Wednesday. Overall, Akamai tallied 193.5 billion credential-stuffing attacks globally in 2020. In credential stuffing , criminals pull data from a database containing valid passwords and usernames and attempt to get into a consumer’s online accounts, without much operator action.”
May 14, 2021
On the web
“The most sophisticated cyberattacks can begin with something as simple as a text message. It’s more common in retail than in other industries for the attacker to use text messaging to trick a retail employee into initiating a money transfer, according to the 2021 Verizon Data Breach Investigations Report… With criminals motivated to seek retail targets as a way to cash in on exposed payment card data and personal information, Verizon cited system intrusion, social engineering and basic web application attacks as being the most common in 77% of the retail breaches. Through the work of 83 contributing organizations, the Verizon investigators analyzed 79,635 security incidents across various industries, of which 29,207 met standards for further research — with 5,258 being confirmed breaches highlighted for data in this year’s report.”
November 23, 2020
On the web
Krebs on Security
“Fraudsters redirected email and web traffic destined for several cryptocurrency trading platforms over the past week. The attacks were facilitated by scams targeting employees at GoDaddy, the world’s largest domain name registrar, KrebsOnSecurity has learned. The incident is the latest incursion at GoDaddy that relied on tricking employees into transferring ownership and/or control over targeted domains to fraudsters.”
September 1, 2020
On the web
“At first glance, the email looks like a textbook phishing attempt. Subject line: “Invoice from Help those affected by the California Wildfires. Body text: “‘Help those affected by the California Wildfires’ sent you an invoice for $35.00 USD.” A button in the email reads “View and Pay Invoice.” Who in their right mind would click that?”
May 27, 2020
On the web
Wall Street Journal (paywall)
“Fraudsters are increasingly using pilfered credit-card numbers and phishing attacks to prey on overwhelmed consumers and banks during the coronavirus pandemic. There has been a big jump in attempted credit- and debit-card fraud since coronavirus shut down the U.S. economy earlier this year, according to Fidelity National Information Services Inc., known as FIS, which assists about 3,200 U.S. banks with fraud monitoring. The dollar volume of attempted fraudulent transactions rose 35% in April from a year earlier, FIS said, a trend that appears to be continuing in May.”
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