The Anti-Fraud Lifecycle

It is a known fact that cybercriminals choose the path of least resistance. Naturally, easy cashout methods with good returns are much more favorable than methods that are high risk, complicated or yield small profits. While this is not the only factor in determining how much fraud is committed through a certain vector (for example, it takes time for cashout methods to become public knowledge in cybercriminal circles and thus become widely adopted), it is a major aspect.

If a certain financial institution is dramatically more targeted than its counterparts by cybercriminals, it is usually because it is the easiest prey. If fraudsters find a way to reliably circumvent anti-fraud measures (i.e. the bank automatically approves all transactions under a certain sum), or in more rare instances, a vulnerability in the processing parameters, criminals will set their sights on that particular bank. 

The dynamic digital world provides criminals with more vectors than ever to commit fraud. The rise of fintech, digital currency and e-commerce solutions have opened up new cashout methods and enabled fraudsters to diversify fraud, extending their work to more than carding and online banking.

Continue reading on SecurityWeek

Facebook
Twitter
LinkedIn

IntelFinder is the most cost effective threat intelligence solution on the market, offering customer-specific and actionable therat intelligence at a fraction of the cost. We cover a wide variety of threats, such as similar domain registration, rogue apps, leaked employee credentials, leaked source code, leaked documents, exposed subdomains and more – all for only $250/month per brand.

IntelFinder is offered with a one month free trial – no strings attached and no credit card information required! 

TRY INTELFINDER NOW

Let's Be In Touch

Do you prefer talking with us before trying out the service? no problems!