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Report: Big U.S. Banks Are Stiffing Account Takeover Victims

Krebs on Security

consumers have their online bank accounts hijacked and plundered by hackers, U.S. But new data released this week suggests that for some of the nation’s largest banks, reimbursing account takeover victims has become more the exception than the rule. Bank , and Wells Fargo.

Banking 291
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The Risk of Weak Online Banking Passwords

Krebs on Security

If you bank online and choose weak or re-used passwords, there’s a decent chance your account could be pilfered by cyberthieves — even if your bank offers multi-factor authentication as part of its login process. Image: Hold Security.

Banking 258
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How social engineering is related to Cybersecurity

CyberSecurity Insiders

Social engineering is a term used to describe the manipulation of people into revealing sensitive information or performing actions that they otherwise wouldn’t. Social engineering is an age-old tactic that is often used in phishing attacks. In conclusion, social engineering is a significant threat to cybersecurity.

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Interpol arrests 2000 criminals launching social engineering attacks

CyberSecurity Insiders

In what appears as an operation first of its kind, Interpol has arrested over 2000 criminals who launched social engineering attacks worldwide. But in reality, they pose as others and perform acts in such a way that the victim reveals sensitive info, such as bank account details or e-wallet information disclosure.

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MY TAKE: Account hijackers follow small banks, credit unions over to mobile banking apps

The Last Watchdog

Outside of giants JP Morgan, Bank of America, Citigroup, Wells Fargo and U.S. firms are comprised of community banks and regional credit unions. These smaller institutions, much like the giants, are hustling to expand mobile banking services. This is the new space that allows for combining these channels in banking.

Banking 147
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Cybercriminals attack banking customers in EU with V3B phishing kit – PhotoTAN and SmartID supported.

Security Affairs

Resecurity uncovered a cybercriminal group that is providing a sophisticated phishing kit, named V3B, to target banking customers in the EU. “Currently, it is estimated that hundreds of cybercriminals are using this kit to commit fraud, leaving victims with empty bank accounts. .

Banking 130
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What Are Social Engineering Scams?

Identity IQ

What Are Social Engineering Scams? Thanks, Your CEO This common scenario is just one example of the many ways scammers may attempt to trick you through social engineering scams. In this scheme, scammers gain unauthorized access to a victim’s account and exploit it for malicious purposes.