Israel is well known as a world leader in cybersecurity and a critical innovation hub driving the development of tools and resources aimed at fighting cybercrime and managing the increased digital security risks organizations face today. Investors know this all too well. According to Israel...
Time to leave the passwords behind. Consumers are leaning that way — and would be happy to abandon that age-old, friction-filled relic that traces its genesis to the dawn of the Internet. The latest edition of The Digital Fraud Tracker found that a majority of individuals would...
Security firms are scrambling to assess total losses after hackers hit thousands of Solana wallets and drained millions in assets in an attack that started sometime late Tuesday (Aug. 2) and continued into Wednesday morning. Hackers got about $8 million from at least four Solana...
Eric Greenstein, product manager of compliance and fraud at Modern Treasury, told PYMNTS that the rules of anti-money laundering (AML) and the Bank Secrecy Act can be boiled down to one truism: If you don’t have a compliance program — geared toward battling money laundering...
The $190 million hack of Nomad, a cross-chain bridge protocol used to make transactions between different blockchains is unusual in one regard. The theft on Monday (Aug. 1) theft wasn’t carried out by one bad actor — but apparently by hundreds who were simply able...
The Federal Trade Commission on Monday (Aug. 1) fined online home buying firm Opendoor Labs $62 million, saying it must stop cheating potential home sellers by tricking them into thinking that they could make more money selling their homes to Opendoor, according to an FTC...
The Securities and Exchange Commission (SEC) has charged 11 people for their roles in allegedly creating and promoting fraudulent cryptocurrency pyramid and Ponzi scheme Forsage, which raised $300 million from millions of retail investors around the world, according to a Monday (Aug. 1) press release....
Cybercriminals engaged in ransomware-as-a-service (RaaS) have been forced to pivot in how they run their fraudulent operations, as fewer victims coughed up payments this year and law enforcement, regulators and security firms stepped up pressure and tactics. As more ransomware gangs were sidelined over the...
Financial firms — including banks and trading houses — are becoming increasingly victimized in attacks where hackers aim to use their computer systems to mine cryptocurrencies. These so-called “cryptojacking” attacks on financial companies more than tripled in the first half of 2022 compared to the...
