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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 259
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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.

Insiders

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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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How to protect your small business from social engineering

Malwarebytes

In the email, Gary Bragg, then-president of Pennsylvania law firm O'Neill, Bragg & Staffin, asked Staffin to wire $580,000 to a Bank of China account. Staffin, who was VP and in charge of banking, sent the money through as asked. BEC is one of the most damaging forms of social engineering attacks faced by small businesses.

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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.

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Social engineering, deception becomes increasingly sophisticated

Security Affairs

Social engineering techniques are becoming increasingly sophisticated and are exploiting multiple emerging means, such as deep fakes. The increasing use of videoconferencing platforms and the various forms of remote work also adopted in the post-emergency covid make interpersonal collaborations increasingly virtual.

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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).