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Fraud

Email Fraud Threat Report: Year in Review 2017

In its Email Fraud Threat Report: Year in Review 2017, Proofpoint (our parent company) highlights the rise of business email compromise (BEC) attacks during the course of 2017. The report draws from analysis of more than 160 billion emails sent to more than 2,400 organizations across 150 countries. Following are some of the key findings related to these specialized phishing attack patterns.

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Merchants have new cause for concern

Reuters published an article on December 5th talking about new lawsuit status that could leave merchants and other taking credit cards for payment with more concern than ever. A judge in Minnesota ruled that a class action lawsuit from banks and other financial institutions can proceed against Target. U.S. District Judge Paul Magnuson found that the banks were foreseeable victims of Target’s negligent conduct. The suit seeks to recover some of the billions the banks and financial institutions spent replacing customers’ compromised credit and debit cards. Target filed to dismiss because there was no contract in place between the card issuers and Target. Magnuson agreed with the bank’s argument that the case is about plain old negligence, not third-party contract harm. He also found that imposing a duty of care on target “will aid minnesota’s policy of punishing companies that do not secure consumers’ credit- and debit-card information”, a policy he found followed from Minnesota’s Plastic Card Security Act which holds merchants liable for card issuers’ cost on Minnesota business that have violated the law’s restrictions on retaining customer data. To read the full story, Click Here
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Travel Smart During Spring Break

This spring break, students and families will step away from school and travel to warmer locales.

Before you jet to your spring break destination, don’t forget to pack your passport, sunscreen, and these mobile safety tips from Stop.Think.Connect.:

Keep a Clean Machine. Ensure all devices that connect to the Internet, including smart phones, tablets, and laptops, have the latest mobile security software, web browsers, and operating systems. This is the best way to defend against viruses, malware, and other online threats.

Protect Your Personal Information.Keep your phone securely locked (with a passcode) and in your possession. Disable geotagging features on your phone and applications so that your movements are not tracked and broadcast. Only give your phone number to people you know, and don’t share your friends’ numbers without their permission.

Connect with Care. While conducting online banking or shopping, look for websites that begin with “https.” These sites have taken extra measures to secure your information. Also, be wary of using public Wi-Fi or Internet hotspots to conduct sensitive online activities, such as banking and shopping.

Be a Good Online Citizen. Think before you upload photos or videos. What you put online can have consequences in the future. Ask your friends’ permission before uploading photos of them as well.

For more cybersecurity tips for those on the go, download the Stop.Think.Connect. Mobile Safety Tip Sheet.

DHS_logo This information was published by GovDelivery on behalf of the US Department of Homeland Security in a March 2014 newsletter email.
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Be Aware of Online Fraud – Protect Yourself.

Online fraud is big business for criminals. The Internet Crime Complaint Center (IC3), jointly run by the Federal Bureau of Investigation and the National White Collar Crime Center, reported receiving over 289,000 complaints in 2012, which resulted in more than $525 million dollars in losses. Many long-running telemarketing and mail fraud techniques are now being used on the Internet, with criminals preying on people’s trust to bilk Americans out of millions of dollars. In addition, some criminals target older Americans or small businesses with specific scams.

Common online fraud scams include:

  • People selling items, such as automobiles, that they do not own. These transactions can take place over sites like Craigslist or eBay, with the buyer transferring money electronically and receiving no product in return.
  • Phishing and spoofing, where criminals pretend to represent a legitimate company or agency and request personal information from their targets. These attempts can include a legitimate-looking email or website. In these cases, the criminals have “spoofed” a real company’s site.
  • Nigerian letter scam, where people are offered to share in a large sum of money if they can help place this money in overseas bank accounts. Victims give criminals their bank account information and send money to the criminals to help pay for bribes and taxes with the promise of repayment.
So how can you protect yourself? Follow these tips from the Stop.Think.Connect.™ Campaign and the National Cyber Security Alliance (NCSA):
  • Think Before You Act. Be wary of “too good to be true” deals. Free money, cheap iPads, cheap cars – if a deal sounds too good to be true, then it probably is.
  • When in Doubt, Throw it Out. Do not click on links or emails that seem suspicious or are from unknown, unsolicited sources.
  • Shop Only at Reputable Online Retailers. Look for the padlock symbol or for URLs that start with “https” or “shttp.” For auction sites such as eBay, check the seller’s reviews.
  • Use Safe Payment Options. Use a credit card if possible. Credit cards have higher protection measures than debit cards. If you do become a victim of fraud, credit cards offer a better chance that you will not be liable for fraudulent charges.
If you believe you have been a victim of online fraud, file a complaint with Fraud.org’s online complaint form at http://fraud.org/complaint or with IC3 at http://www.ic3.gov/complaint/default.aspx. DHS_logo This information was published by GovDelivery on behalf of the US Department of Homeland Security in a March 2014 newsletter email.
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