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Online Fraud Detection

Security and Risk Complains Online : Elbit's Cyberbit Hones Military Technology for Commercial

RAANANA, Israel (Reuters) - Israeli defense Electronics Company Elbit Systems forecasts double-digit growth for its Cyberbit business, which is transforming the technology it has long provided for military intelligence to the fast-growing commercial market. Cyberbit took shape after Elbit's $150 million acquisition of the cyber and intelligence unit of Israel's Nice Systems in 2015, blending Nice's technology designed for law enforcement and intelligence agencies with Elbit's military-focused capabilities.

 

Today Cyberbit operates as two companies - one focused on government security and intelligence and subject to Israeli export restrictions, the other catering for the commercial market, mainly financial firms and utilities. Both are headed by Cyberbit Chief Executive Adi Dar.

 

 

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A massive failure that leaves iPhones, Android mobes open to tracking

Security flaws smash worthless privacy protection

 

Analysis To protect mobile devices from being tracked as they move through Wi-Fi-rich environments, there's a technique known as MAC address randomization. This replaces the number that uniquely identifies a device's wireless hardware with randomly generated values.

 

In theory, this prevents scumbags from tracking devices from network to network, and by extension the individuals using them, because the devices in question call out to these nearby networks using different hardware identifiers.

 

It's a real issue because stores can buy Wi-Fi equipment that logs smartphones' MAC addresses, so that shoppers are recognized by their handheld when they next walk in, or walk into affiliate shop with the same creepy system present. This could be used to alert assistants, or to follow people from department to department, store to store, and then sell that data to marketers and ad companies.

 

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ONLINE SECURITY - CYBER RANSOMING A GROWING PARASITICAL BUSINESS FOR UK HACKERS

'There are minimal overheads and profits can be limitless'

 

Cybercriminals are increasingly targeting UK workers files and data, and the Metropolitan Police have warned that “no one is safe”.

 

The FBI, Metropolitan Police, and security experts all agree that cyber ransoming has fast become one of UK’s biggest economic crimes.

 

Unpredictable, unstoppable and potentially fatal to a business, the rapid emergence of ransomware has become a threat to people across the nation.

 

August Graham, the editor of the Sentinel, arrived at work one morning last summer to find a note pop up on one of the computer screens. It informed him that all the files on the firm’s server had been encrypted and were being held ransom.

 

He was told he had to pay £500 to get them back, or they'd be destroyed.

 

Last year, 54 per cent of businesses in the UK were hit by ransomware attacks, according to a survey by Osterman Research on behalf of Malwarebytes. In 20 per cent of the cases, it stopped b

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Online Security Review: Fraud-tervention on Identifying and Preventing Financial Fraud

Financial fraud continues to evolve; it's more sophisticated, harder to detect, and takes advantage of people's emotions like fear and excitement. According to a recent TD survey, 85 per cent of Canadians worry about themselves or their loved ones becoming a victim of financial fraud. More than one-third (37 per cent) worry that their elderly family members are too trusting, and that their children are unaware of the risks.

 

"Debit card, credit card and cheque fraud are more common because of sophisticated approaches that target emotion as well as transactions," says Mushtak Najarali, Senior Vice President of Everyday Banking Products at TD Bank Group. "Prevention and protection are key to fighting financial fraud, and so is the relationship between customers and their financial institution. Both parties working together is the best first line of defense to help identify and avoid financial fraud."

 

Many Canadians know the basics of protecting themselves from financial fraud. In

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Cyber security: Fraud rises as cybercriminals flock to online lenders

Cybercrime is becoming more automated, organized and networked than ever before, according to the ThreatMetrix Cybercrime Report: Q4 2016.

                      

Cybercriminals are increasingly targeting online lenders and emerging financial services, says Vanita Pandey, vice president of strategy and product marketing, ThreatMetrix.

 

[ Related: 8 tips to defend against online financial fraud threats ]

 

 

ThreatMetrix's report is based on data drawn from its ThreatMetrix Digital Identity Network, which analyzes about 2 billion transactions per month for insight into traffic patterns and emerging threats. The network uses a real-time policy engine to analyze transactions — about 44 percent of which originate from mobile devices — for legitimacy based on hundreds of attributes, including device identification, geolocation, previous history and behavioral analytics.

 

 

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Cyber Attacks Against Financial Services Cost Consumers £8bn in 2016, Research Reveals

Online financial services and lending companies are increasingly being targeted by fraudsters and costing consumers millions of pounds around the world last year alone, according to research.

Cyber attacks against online lending companies and alternative payment systems increased 122pc last year, according to Threat Metrix, a security company that monitors more than 20bn online transactions a year.

The fraud is estimated to have cost consumers as much as £8bn in 2016, the company said.

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The spike in fraud comes as online financial services are growing in popularity. A combination of greater trust and ease of use means customers are increasingly opting to use digital businesses. In the UK, financial services transactions online grew by 10pc last year.

 

But this uptick has made the industry a prime target for cyber attacks, ThreatMetrix said after detecting 80m attacks on the financial sector using fake or stolen credentials in 2016. 

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Online Fraud Detection on 5 ecommerce fraud predictions for 2017

Ecommerce fraud is on the rise as more consumers turn to online shopping. Luckily, by being vigilant, merchants can fight fraud and win.

 

As the number of consumers turning to online shopping increases, the rise of online fraud is also rising.

 

Those committing internet crimes are depriving their victims of either funds, interests, personal property and/or sensitive data. As the threat escalates, consumers and companies alike are seeking various methods to tackle the phenomenon.

 

 

Ecommerce fraud has a long and controversial history. Thus, providing a forecast for the months ahead can help retailers adopt an adequate solution to confront the many challenges in 2017.

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Cyber Attacks Against Financial Services Cost Consumers

Online financial services and lending companies are increasingly being targeted by fraudsters and costing consumers millions of pounds around the world last year alone, according to research.

 

 Cyber attacks against online lending companies and alternative payment systems increased 122pc last year, according to Threat Metrix, a security company that monitors more than 20bn online transactions a year.

 

The fraud is estimated to have cost consumers as much as £8bn in 2016, the company said.

 

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The spike in fraud comes as online financial services are growing in popularity. A combination of greater trust and ease of use means customers are increasingly opting to use digital businesses. In the UK, financial services transactions online grew by 10pc last year.

 

But this uptick has made the industry a prime target for cyber attacks, ThreatMetrix said after detecting 80m attacks on the financial sector using fake or stolen credentials in 2016. 

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Online security review: Hacking Is About to Get a Lot Harder With Card less ATMs

A few years back, a friend of mine was traveling from New York City to Paris. After landing at Charles de Gaulle Airport, he reached for his wallet, but realized it was no longer in the back of his trouser pocket. He had been pick-pocketed during his metro ride. All of his cash, credit cards, and debit cards were gone.

 

 

 

Were something like this to happen in the near future, my friend would’ve had a much easier time making it through the next 48 hours, so long as he had his smartphone. In just the last few weeks, a number of banks have announced plans for cardless ATMs. Wells Fargo (WFC, +0.26%), J.P. Morgan Chase (JPM, -0.32%), and Bank of America (BAC, -0.16%) are all piloting their own initiatives. The basic idea is that a code will be generated on the banks’ mobile apps that consumers can use to unlock their bank accounts, enabling them to withdraw money from an ATM simply by tapping their device when they’re in front of the ATM.

 

 

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Cyber Security - Biometrics of Mass Defense?

With so much buzz surrounding biometric authentication, it should come as no surprise that several companies looked to increase and improve the biometric options they offer over the past month. HYPR, for example, debuted what it is calling a biometric shopping platform at the National Retail Federation’s BIG Show in New York City in January. The platform is designed to help retailers combat an uptick in online retail fraud, caused largely by ineffective or stolen password credentials.

 

She noted that advanced security features, such as biometric authentication devices, are being built directly into the smartphones that consumers use every day, giving companies new tools in the fight against fraudsters. She also pointed out that as fraudsters utilize better and more sophisticated fraud techniques, companies and their leaders are taking security more seriously than they have before, investing in cutting-edge solutions and methods to beat fraudsters at their own game.

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