Articles Tagged with ''fraud''

The Federal Trade Commission (FTC) released data on which brands were most often impersonated by scammers, and which scams were the most costly.

There has been an increase in “selfie spoofing” scams, or scams in which a fraud actor takes a target’s selfie in order to authenticate a stolen identity and open fraudulent accounts.

The U.S. Department of the Treasury released a report regarding cybersecurity threats in the financial sector, specifically related to AI. 

The report discusses the five fraud threats that are predicted to emerge in 2024. 

The financial sector has been deeply impacted by fraud, and security professionals are finding ways to mitigate it via artificial intelligence (AI).

Cybercriminals can trick business owners and employees into disclosing sensitive information like credentials and passwords, eventually resulting in data breaches and ransomware installations on a business’s network.

With increasingly digital payment methods, financial institutions are working to protect consumer data and improve payment data security.

A new survey found that fraud attacks on call centers are on the rise, based on growth from 2021 to 2022, with financial industry respondents noting an even more acute increase.

Generative AI can create efficiencies that will increase productivity, improve internal operations and enhance creativity.
Yet, the evolution of large language models and the use of generative AI can open doors for fraudsters.

Many workers have a watchful eye for attempted scams. But what if they receive a phone or video call from someone who looks, and sounds, exactly like their boss?