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Fraud – Take a Look at these Articles

You may not keep track of the trends in banking and fraud, but it affects consumers like us. Take a look at these articles to learn more. You’ll want to know this information.

Criminals Hit More Firms in 2016 as Check, ACH Debit, and Email Fraud Attempts Rose Nearly three-fourths of corporate treasury and finance executives say their organizations were hit by actual or attempted payment fraud in 2016, with check, automated clearing house debit, and email fraud attempts all rising…

Big Data versus money laundering: Machine learning, applications and regulation in finance

ZDNet – “Predicting and acting upon financial fraud is one of the prime areas of application of advanced big data techniques like machine learning (ML). Earlier this week, a case of money laundering known as the Laundromat was uncovered by the Organized Crime and Corruption Reporting Project (OCCRP) …

Why I Always Tug on the ATM

Once you understand how easy and common it is for thieves to attach “skimming” devices to ATMs and other machines that accept debit and credit cards, it’s difficult not to closely inspect and even tug on the machines before using them. Several readers who are in the habit of doing just that recently shared images of skimmers they discovered after gently pulling on various parts of a cash machine they were about to use. From Krebs Security

How Hackers Hijacked a Bank’s Entire Online Operation

The traditional model of hacking a bank isn’t so different from the old-fashioned method of robbing one. Thieves get in, get the goods, and get out. But one enterprising group of hackers targeting a Brazilian bank seems to have taken a more comprehensive and devious approach: One weekend afternoon, they rerouted all of the bank’s online customers to perfectly reconstructed fakes of the bank’s properties, where the marks obediently handed over their account information. From Wired.

 

 

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