Author Archives: Tiffany Riley
Fraudulent Needles in ACH Haystacks
We’ve been talking with a wide variety of financial institutions for a number of weeks leading up to the announcement of our latest anomaly detection solution, FraudMAP ACH. We’ve heard story after story of the time consumed by staff manually … Continue reading
PATCO ACH Fraud Ruling – Lessons Learned
As you’ve probably read by now, on July 3 the First Circuit Court of Appeals in Boston ruled in favor of PATCO in their lawsuit against Ocean Bank over fraud losses, reversing the U.S. District Court‘s 2011 judgment that favored … Continue reading
New Online Banking Attacks – Criminals in the Cloud
Today, the Guardian Analytics Fraud Intelligence team and McAfee released a joint fraud report, “Dissecting Operation High Roller,” describing a new generation of attacks against online banking. Criminals are evolving Man-in-the-Browser schemes to move execution of key criminal activity away … Continue reading
Beware the Business Mule: Why Commercial Payees Merit Vigilance
Fraudsters increasingly are targeting the larger account balances of commercial banking customers and hiding behind the more frequent account activity present in business-to-business transactions. The large, frequent fund movements common between organizations are making fraud harder to detect by financial … Continue reading
Online Banking Fraud News Roundup
2012 started with an explosion of new malware variants. It’s clear already that banking Trojans are propagating at an alarming rate while the ongoing rapid expansion of mobile banking will open a particularly threatening new front in the war on … Continue reading
Anomaly Detection Demystified [infographic]
In its updated guidance issued June 2011, the FFIEC specifically identified anomaly detection as one of the two minimum components of a layered security program required for any financial institution offering online banking (see page 5!). We recently released an … Continue reading
Mules & Jewels: “Gameover” in 9 Steps
The new “Gameover” malware driving online banking fraud has gotten much attention in the press lately, but I realized that most of it has focused on the distributed denial of service (DDoS) attacks launched by this malware variant to bypass common … Continue reading
August Fraud Roundup
For cyber criminals, security researchers, regulators and financial institutions, there’s been no summer break. The FFIEC announced a Supplement to its 2005 Authentication Guidance, hackers produced significant volumes of new malware, more businesses lost money and another lawsuit was filed. … Continue reading