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Fraud

INETCO in the News: AI and Machine Learning as a Solution to the EBT Fraud Epidemic

Ali Solehdin – The Banking Exchange In 2022 alone, the Supplemental Nutrition Assistance Program (SNAP) distributed over $113.9 billion to nearly 22 million households across the United States. This figure represents an increase of over $5 billion from the year prior and nearly a $40 billion increase from 2020. Unfortunately, as the SNAP allocation has increased, criminals — from individuals to organized crime rings — have stolen an increasing share of these benefits.

New PCI Password Requirements Could Be the Impetus for Credential Harvesting Scams

As the retirement countdown for the current version of PCI is now less than six months, a new standard for password length, complexity, and change frequency may create some risk. Valid credentials have become a very hot item, as threat actors realize the low risk and high value of simply becoming an Initial Access Broker (rather than performing an entire cyber attack themselves).

Wordfence Becomes the Latest Brand to be Impersonated Putting 800 Million Sites at Risk

With its wide use and trusted state among Wordpress developers and website admins, a new campaign impersonating the website security brand could put hundreds of millions of websites at risk. Today, it's estimated there are over 810 million websites that run on Wordpress. One of Wordpress’ most used plugins is Wordfence – a security platform made specifically for the website platform.

Unraveling the Tactics and Impacts of Account Takeover Fraud

It’s the third day of your long-awaited vacation. While relaxing at the beach, you hear a not particularly welcome chime on your phone (because who takes a vacation from their phone), indicating a new email notification. Your bank notifies you that a significant transaction has been made on your account― a purchase you immediately realize you didn’t authorize. Your heart pounds as you log into your banking app only to find your account empty.

Boarding Pass Selfies and Cybersecurity Don't Mix

There is no such thing as a vacation for cybercriminals. We recently released our top summer cybersecurity travel tips to help keep you safe. Earlier this year, we posted about travel-themed phishing attacks, and Forbes just posted a great reminder about the dangers of sharing your boarding pass on social media. Read below for their advice.

What To Do if You Are a Victim of Credit Card Fraud

If you discover you are a victim of credit card fraud, start the recovery process by notifying your credit card issuer, placing a fraud alert on your credit report, freezing your credit and contacting the three major credit bureaus. However, before taking these steps, you should determine if you are in fact a victim of credit card fraud.

Bad Actor Uses Fake Android Chat to Install Malware

Researchers at CYFIRMA warn that the Bahamut threat actor is using a malicious Android app to deliver malware. “The suspected Android malware, known initially as ‘CoverIm’ was delivered to victims via WhatsApp, and was found to be disguised as a dummy chatting application named ‘SafeChat,’” the researchers write.