Superfish Adware Acting as “Man-In-The-Browser” Business and Banking Malware Is Outlined in the Latest ThreatMetrix Labs Report Not familiar with Superfish? Ask any buyer of a Lenovo laptop purchased between October and December 2014 whose computer came preinstalled with the adware. But don’t think you’re going to hear kudos. “Superfish Adware – A Closer Look” Comparing Superfish and similar adware to “man-in-the-browser” (MitB) banking Trojans, the ThreatMetrix Labs report, “Superfish Adware – A Closer Look,” details the nature and behavior of this software. It also…

Following on the Heels of Apple Pay Comes Samsung Pay with Magnetic-Stripe Radio Field Technology Samsung’s recent acquisition of LoopPay, which provides Samsung with near-field communication (NFC) and magnetic-stripe radio field capabilities, makes it possible for Samsung to launch Samsung Pay this summer. The service, which will be available on Galaxy S6 and S6 Edge smart phones, attempts to go Apple Pay one better by offering magnetic-stripe tech. This will presumably let consumers use Samsung Pay at approximately 8 million point-of-sale terminals in the U.S.…

The ThreatMetrix Global Trust Intelligence Network’s Expansion Means More Businesses Stopping Fraud in Real Time without Customer Friction ThreatMetrix’s Global Trust Intelligence Network (The Network) enables businesses to seamlessly differentiate between trusted consumers and potential cybercriminals. This prevents hundreds of millions of dollars in fraud losses globally, without impacting the customer experience for legitimate users. 15 billion transactions analyzed by end of 2015 Using The Network, ThreatMetrix® expects to analyze more than 15 billion total transactions by the end of this year. This volume is…

Central Florida Law Firm Filed Proposed Class-Action Suit in Orlando Federal Court as Fallout from Anthem Breach Continues Though Florida was not named as one of the states hardest hit by the Anthem breach, it is one where a class-action suit was filed on behalf of Florida customers of Indiana-based Anthem. As they say at Orlando’s Walt Disney World, “It’s a small world after all.” Two representative plaintiffs, David and Maria Haag, live in the Orlando area. Their case is being handled by lead attorney…

EC3 Supports 18-Month EU-Funded “Project Sandpiper” to Stop Payment Card Fraud in Its Tracks The latest statistics published by the European Central Bank reveal that card-not-present (CNP) fraud is on the rise accounting for 60% of all fraud losses on cards issued in the European Union. To address the problem, Europol’s European Cybercrime Centre (EC3) has launched several investigations. Project Sandpiper Initiated by UK authorities and supported by Europol’s European Cybercrime Centre (EC3), Project Sandpiper took out after the bad guys. The score after eighteen…

Beyond EMV, Industry Giants Look to Upgrade Security Measures to Improve Protection for Shoppers and Merchants Coming this spring to a store near you – better protection from fraud and theft. At least that’s what Visa and MasterCard are hoping to accomplish with two new programs. In her story on consumerist.com, Kate Cox describes the technology each company is planning to introduce. The following has been excerpted from Cox’s piece and edited to fit our format. You may find the full article by clicking on…

    Plus Security Experts Join ThreatMetrix’s Alisdair Faulkner for a Panel on “Combatting Payment Fraud through Enhanced Tools and Technology” More than 700 payments professionals and solution providers will attend BAI Payments Connect 2015 from March 2-4 at Phoenix Convention Center West Building in Phoenix, Arizona. A one-of-a-kind event concentrating on current issues in the payments space, BAI Payments Connect provides the opportunity to attend expos, panel discussions and demo sessions. In addition attendees can take part in the second-annual digital day, focusing on…

CAGR (Compound Annual Growth Rate) Has Mobile Commerce Growing at 3X the Rate of eCommerce 42 Percent to 13 Percent Research conducted by PayPal in conjunction with market research firm, Ipsos, found that from 2013 to 2016, the multi-country average CAGR for mCommerce is projected to be 42 percent as opposed to 13 percent for eCommerce (including mobile commerce). ThreatMetrix’s Alisdair Faulkner predicted mCommerce’s rapid growth and warned of possible dangers The growth in mCommerce was hardly a surprise to Alisdair Faulkner, chief products officer…

Mobile Device Fraud Makes Up a Disproportionate Share of the $6 Billion Fraud Costs Merchants and Card Issuers in the U.S. Each Year Forrester Research says mobile payments accounted for $52 billion worth of U.S. transactions in 2014, up from $32 billion in 2013. And this year that number is expected to hit $67 billion. A LexisNexis survey of 1,100 companies found that while mobile payments account for 14 percent of transactions among merchants, they make up 21 percent of fraud cases. In her story on bloomberg.com,…

The 12 Worst Scams the Internal Revenue Service Warns Taxpayers to Be Wary of This Tax Season What do you want to be when you grow up? At one time or other that question’s been asked of everyone who’s ever grown up, Peter Pan being the exception. But, no one to our knowledge has ever answered, “A tax collector.” Face it. Tax collectors are not the most popular members of any civilized society. After all, they take our hard-earned money and, in return, give us…well…nothing.…

Security Experts Discuss What Lessons Were Learned from 2014’s Data Breach Deluge To be exact, there were 904 million records compromised in 2014, a record-breaking year in every sense of the word “record.” While a great deal was lost monetarily and even psychologically, i.e., a feeling of security, a great deal was learned as well. In a far-ranging piece on cio.com, Steve Ragan has security experts offer up their observations on what organizations can take away from a very tough learning experience. The following has…

We recently took a look at fraudulent transactions stopped by our Global Trust Intelligence Network over just one week in January 2015 and found that mobile is a growing threat vector in the Middle East and Africa region. Some 9.4% of mobile transactions were declined in MEA as opposed to just 3.2% worldwide. Android (50%), iPad (13%) and iPhone (31%) are the most popular platforms. The fraudsters have obviously spotted what they believe to be a way to circumvent traditional fraud filters – by targeting…

A Panelist at the Annual AlwaysOn Summit, ThreatMetrix CEO Reed Taussig Will Deliver His Keynote Speech on Security in the Cloud AlwaysOn’s OnCloud 2015 Summit will take place at the College of San Mateo (San Mateo, CA) on February 26, 2015. The Summit brings together “the best and the brightest” including top entrepreneurs, investors, and corporate players in the business-to-business application and cloud infrastructure space to discuss and debate the future of cloud technology. Reed Taussig’s keynote Titled “Global Shared Intelligence: The Best Solution to…

President Calls for Threat Information Sharing and Right to Privacy In the wake of the White House Cybersecurity Summit held at Stanford University last week, Alisdair Faulkner, chief products officer, ThreatMetrix® wrote: In light of President Obama’s visit to Silicon Valley, now is a better time than ever to address online security and privacy. Collecting an unreasonable amount of personal information will lead to a “Privacy Pearl Harbor.” How much information collection is too much? Threat intelligence sharing is necessary but only to a certain…

ThreatMetrix’s Alisdair Faulkner Warns of a Possible “Privacy Pearl Harbor” Should Collecting Personal Info for Security Destroy Privacy The long awaited presidential summit on cybersecurity taking place at Stanford University in Palo Alto, California brings together experts from industry, hi-tech, and law enforcement as well as consumer and privacy advocates, law professors who are specialists in the field, and students. In its announcement of the Cybersecurity Summit, The White House says the Obama administration is pursuing five key priorities that will strengthen [the U.S.] approach…