Remove Accountability Remove Banking Remove Passwords Remove Social Engineering
article thumbnail

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 264
article thumbnail

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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 250
article thumbnail

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.

article thumbnail

The Rise of AI Social Engineering Scams

Identity IQ

The Rise of AI Social Engineering Scams IdentityIQ In today’s digital age, social engineering scams have become an increasingly prevalent threat. In fact, last year, scams accounted for 80% of reported identity compromises to the Identity Theft Resource Center (ITRC). Phishing attacks.

article thumbnail

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. Related: OneSpan’s rebranding launch. Key takeaways: Shifting risks.

Banking 147
article thumbnail

Digital Banking - Case Study

Approachable Cyber Threats

Banks are taking revolutionary approaches to digitize and streamline the customer experience - but these measures could come with a cost without strategic cybersecurity measures. The world is changing, and the banking industry is evolving too. The Industry Digital banking is transforming the way people access and manage their finances.

Banking 94