Payment Card Fraud and Cryptocurrency Attacks Saw Significant Increase Last Quarter

The financials sector saw an increase in incident volume in the third quarter of 2017, and much of that increase revolved around cyber-attacks targeting various cryptocurrency platforms, as well as payment card breaches in the consumer goods sector that led to increased fraud activity on cybercriminal markets. Key takeaways from SurfWatch Labs’ threat intelligence findings… Read More

Dark Web Markets, Equifax Breach Raise Authentication Concerns

The recent Equifax breach once again has the whole nation talking about cybercrime — and the widespread fraud and identity theft likely to follow in the wake of 143 million compromised consumers. Identity theft is a major concern for individuals, but as SurfWatch Labs chief security strategist Adam Meyer noted, malicious actors spring boarding off… Read More

Weekly Cyber Risk Roundup: Ashley Madison Blackmail Returns, Facebook and Google Victims of Fraud

An old data breach came back to life this week as Ashley Madison users who had their data compromised back in July 2015 are once again being blackmailed — this time by an extortion group threatening to launch a public website and contact people in victims’ social media networks. The website will allegedly be launched… Read More

Behind the Scenes of a $170 Million Payment Card Fraud Operation

On Friday, 32-year-old Russian hacker Roman Seleznev was sentenced to 27 years in prison for running a cybercriminal operation that stole millions of payment cards, resulting in at least $169 million in damages to small business and financial institutions. It’s the longest sentence ever issued in the U.S. for cybercrime, and the court documents and… Read More

IRS and Cybercriminals Battle Over Billion Dollar Tax Fraud Industry

While new initiatives by the Internal Revenue Service (IRS) are making it harder for cybercriminals to successfully file fraudulent tax returns, those measures have not slowed down the theft of employee W-2 information this year. The SurfWatch Labs analyst team has observed groups of malicious actors sharing concerns about government efforts to combat fraud, as… Read More

Weekly Cyber Risk Roundup: Cloudflare Aftermath and Online Stores Breached

The Cloudflare software bug that resulted in the potential leaking of sensitive data remained as the top trending cybercrime event of the past week as researchers continued to investigate and quantify the effects of the incident. In a March 1 blog post, Cloudflare CEO Matthew Prince described the “Cloudbleed” impact as “potentially massive” and said… Read More