Frauds & Ends Blog
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Casual Disconnect: Fraudsters Take Fun & Profit Out Of Social Games
Scammers threaten to make casual gaming not-so-casual. Virtual goods—the currency of trade for social games are coveted by cybercriminals for their hard cash value. According to a new article in the Wall Street Journal titled Fraudsters Like Virtual Goods, “merchants that sell digital goods lost 1.9% of all revenue to fraud in 2009, [...]
Proxies
Catch Me If You Can – Mining Data to Spot Cybercrime Patterns
Which country was hiding behind US proxies more any other as a percentage of all transactions (drum roll please)? The winner is…
Account CompromiseIdentity Theft
Boys Will Be Boys—And Fraudsters
Two eighteen year old “schoolboys” in the UK prove once again that there is no typical archetype when it comes to fraudsters. The Sun reported that two kids allegedly hacked 65,000 bank accounts worldwide, selling the pilfered account credentials via a website collecting over £8M—about $12M. The Sun reports that Nick Webber and Ryan Thomas [...]
Analysts and ResearchCredit Card TransactionsDevice FingerprintDevice IdentificationEventsOnline Credit Card Transactions
IRCE 2010 Report: What Internet Retailers Really Want for Christmas This Year
In a word, I would describe this year’s Internet Retailer conference in Chicago as this: more. In fact, except for the number of servers walking the floor serving hors d’œuvres at the opening night reception it felt like there was more of everything compared with last year’s conference in Boston: more exhibitors, attendees, sessions—and more [...]
Credit Card Transactions
Marketing & Fraud Detection: Friction or Faction?
More revenue—less fraud: the marketers at Internet retailers that drive customers to and through their websites want the former, and their counterparts—fraud analysts strive for the latter. How should an internet retailer balance these two objectives? Adam Sutton, a reporter for the marketer’s best practices website MarketingSherpa.com recently asked me about the relationship between marketers [...]
Botnets
Botnets: The Web Boogeyman Is Here
Next to anonymity, automation is a cybercriminal’s best friend. Botnets—a network of compromised computers on the Internet under the command and control of a single computer—are a game-changer for e-fraudsters. Cybercriminals with a sufficiently large botnet have the potential computing power equivalent to a supercomputer at their disposal. A botnet can originate fraudulent transactions from [...]
Online Fraud Trends
Does Your Browser Threaten Your Privacy?
The Electronic Frontier Foundation wants to let you in on a little-known fact about your browser: it talks behind your back. The secret’s out thanks to a newly published study from a project EFF calls Panopticlick that set out to show how your browser can be used as a way to uniquely identify your computer.
This [...]
Credit Card TransactionsOnline Fraud
Payment China Conference Web Fraud Survey Results
Fresh on the heels of ThreatMetrix CTO David Jones’ blog entry from Payments China 2010 this week comes the results of our booth survey from the conference. About one hundred attendees completed our three-question survey to help us gauge the current state of payments web fraud in China. Here’s what they had to say:
Respondents were [...]
Online Fraud
Fraud, ThreatMetrix and China Payments 2010
China’s economic juggernaut is unstoppable. With a middle class now exceeding 60 million people, the contrasts of wealth are extremely stark. In Beijing’s Chaoyang (朝阳区) district you can step out of a glamorous shopping mall with Gucci and Chanel while in a backstreet someone is cooking noodles over a naked flame.
Internet e-commerce magnifies these contrasts: [...]
Payments Management
Fraud Report: ThreatMetrix NACHA Payments 2010 Survey
We surveyed 185 attendees who stopped by our booth at last week’s NACHA Payments 2010 Conference in Seattle to take their pulse on web fraud. Payments 2010 brings together payments industry professionals from Risk Management, Online Fraud Detection, Loss Prevention, Card Services, Retail Banking, Internet/Electronic/Mobile banking and more. Here are the Payments 2010 survey results [...]
