Constella Intelligence’s Post

WOW… just Wow! The power behind the recaptured breach data in Constella Intelligence’s datalake repeatedly proves how we are a crucial component in cyber criminal investigations. This investigation highlights the critical role of advanced cyber intelligence and collaboration in combating cybercrime. Kudos to #KrebsOnSecurity for driving this high-impact investigation and bringing these issues to light. Brian Krebs article can be found here: https://lnkd.in/edDsRwxS #Cybersecurity #FraudInvestigation #ConstellaIntelligence #KrebsOnSecurity #Cybercrime #DigitalForensics

Interesting strategy to market actual fuel lines of criminality...

Look at this guy, Punchmade Dev, who has been suspected of selling stolen payment cards and identity data online. He's known for flaunting his expensive jewelry and rapping about cybercrime, but there wasn't much evidence to support the claims, until recently. Lately, Punchmade Dev started promoting an online shop selling stolen payment cards and identity data. Which is now leading people to believe that he's actually involved in cybercrime now. Important? Of course, because it sheds light on the potential connection between cybercrime and the online personas of some people. It also raises concerns about the ease with which stolen data can be bought and sold online. Overall, it's a pretty interesting article that makes you think about the dark side of the internet. https://lnkd.in/g2fC7aMq #cybercrime #rap #darkweb #databreach #yourpartnerinsuccess

Happy lunch time to everyone out there in #linkedin land! I wanted to get this out there for all of you to read over your lunch. I want to call attention to this new lawsuit filed in the State of New York against Citi. I was surprised to see this because #FinTech security is one of the industries that I try to emulate. This is evident in some of the better website security scoring out there (for example, they have A or better scores in security headers and SSL configuration). The one area of the lawsuit that I find more interesting was this part: "The OAG found that Citi’s systems do not respond effectively to red flags, such as scammers who are using unrecognized devices, are accessing accounts from new locations, or are changing banking passwords or usernames. Additionally, Citi systems do not flag and stop efforts to transfer funds from multiple accounts into a single account and then send tens of thousands of dollars out the door in minutes." I think this is an area where AI in #cybersecurity can help prevent things like fraud. I will be keeping a closer eye on this lawsuit, in the hopes that Citi doesn't let me down. :) Brett Johnson What are your thoughts on this from a fraud prevention POV? Original link credited to CNN

We are all increasingly aware of cybercrime attacks, from WA messages from hacked accounts of friends and family asking for money, people posing as your boss asking to buy amazon gift coupons, callers claiming your FEDEX or Blue Dart courier being confiscated due to illegal stuff being found in it, SMS messages threatening your bank account being shut down unless you provide KYC documents on a link etc etc. The one thing common in these is access to your phone number. And since our phone number is linked with Aadhar card, bank accounts and PAN card due to government mandate, it is a really sensitive and precious number, to be guarded and kept private unless absolutely necessary to be divulged. Imagine my surprise last week that Lenskart.com refused to issue a receipt for an off-the-shelf spectacle cleaning solution unless I shared my phone number which they wanted to verify with an OTP which has to be provided by me before the receipt for Rs 110 can be issued! I argued with the salesperson that I was not purchasing a prescription medicine and that I was not required to give my phone number but she continued insisting, having checked with her manager over the phone. I thought this was an anomaly and tried Vision Express, another company that sells spectacles and accessories. Same story! No receipt without providing one's mobile number for them to verify with OTP, store and use for marketing against one's will. The salesperson there gave me a hand-written receipt as a compromise on her part as I was not willing to provide my number. Around 10 years ago most shops such as Ratnadeep, Lifestyle, asked customers' numbers in the guise of sharing special offers or reward points. But if I refused, they didn't insist on it and entered some generic phone number to bypass their system prompts and issued a printed receipt. I guess they must have learned it is illegal to refuse to give an official receipt if a customer doesn't wish to provide their phone number; now they don't even ask for it. Yet companies such as Lenskart and VisionExpress are still hard-wiring processes that increase their customers' risk of cybercrime and identity theft. When will they learn and mend their ways? #datasecurity #privacy

The Payment Systems Regulator (PSR) is pushing firms to adopt #CoP to prevent #APP fraud. Paul Gbenga Olukoya and Terry Taylor discuss how to protect customers and reduce #fraud. https://lnkd.in/eU6KdjHv #financialservices #payments #cyber #PSR #SCA

“Your transaction of $2.21 to Acc. XXX-9210 was successfully processed.” It’s never a good day when you get a text about a payment you didn’t make. This happened to me last month with a credit card I hadn’t used for a year. I didn’t lose the card. Chances are, a site I bought from got hacked and my details were stolen. It’s not just me, there’s a much bigger problem. This year, 93% of credit card fraud cases in the U.S. were “card not present” transactions. Hackers don’t need your physical card to pull this off, just its details. I don’t know how they got my card details, but scammers have a bunch of ways to do this: ↳phishing: tricking people into sharing their passwords and card info through email by pretending to be from a real company (500 million attacks in the U.S. in 2022) ↳hacking databases: using tactics like guessing passwords to illegally access large sets of customer data from corporations (like the 70 million current and former AT&T customers last year) ↳skimming devices: physical attachments to fuel pumps or ATMs that copy data from a swiped card ↳buying people’s card information from the dark web: where card and account information sells for as little as $5 With the increasing digitization of our lives, this type of fraud is only going to get worse. That’s why my co-founder Francisco Rubin and I are building Archer, to stop fraudsters from getting your money. Archer is an anti-fraud system that unites banks and fintechs against their common enemy, fraudsters, and protects their customers in real time from fraud. Has this happened to you? What’s your story?

### Credit Card Scams and How to Avoid Them #### Introduction Credit card scams threaten both individuals and businesses, causing financial losses and data breaches. This post explores common scams, their impacts, and strategies for avoiding them, providing insights for industry professionals. #### Understanding Credit Card Scams **Phishing Scams** - **Description**: Scammers trick victims into providing credit card details via emails, texts, or calls. - **Example**: Fake bank emails asking to "verify" account information. **Skimming** - **Description**: Devices capture card information during transactions. - **Example**: Skimmers on gas station pumps. **Carding** - **Description**: Using stolen card info for unauthorized purchases. - **Example**: Online shopping with stolen card details. **Fake Websites** - **Description**: Counterfeit sites mimic legitimate ones to steal card info. - **Example**: Fake online stores with too-good-to-be-true deals. **Mail Theft** - **Description**: Thieves steal credit card statements or cards from mailboxes. - **Example**: Intercepting mail with sensitive information. #### Impact of Credit Card Scams **Financial Loss** - **Description**: Unauthorized transactions lead to monetary losses. - **Example**: Drained bank accounts. **Identity Theft** - **Description**: Stolen info used to commit identity theft. - **Example**: Opening new credit accounts in the victim's name. **Damage to Credit Score** - **Description**: Unauthorized transactions affect credit ratings. - **Example**: Increased debt and missed payments. **Legal and Regulatory Consequences** - **Description**: Businesses face penalties for failing to protect data. - **Example**: Fines for non-compliance with data protection regulations. How to Avoid Credit Card Scams **Vigilance and Education** - **Description**: Stay informed and educate employees/customers. - **Example**: Training on recognizing phishing attempts. **Secure Transactions** - **Description**: Use secure and trusted payment channels. - **Example**: Verifying the security of online shopping sites. **Monitor Accounts Regularly** - **Description**: Review statements for unauthorized transactions. - **Example**: Setting up account alerts. **Use of Advanced Technology** - **Description**: Implement security solutions. - **Example**: EMV chip cards, two-factor authentication. **Proper Disposal of Sensitive Information** - **Description**: Shred sensitive documents. - **Example**: Shredding old credit card statements. **Strong Passwords and Authentication** - **Description**: Use strong passwords and multi-factor authentication. - **Example**: Using a password manager. **Be Cautious with Public Wi-Fi** - **Description**: Avoid financial transactions on public Wi-Fi. - **Example**: Using a VPN. **Report Suspicious Activity Promptly** - **Description**: Report suspicious activity to issuers and authorities. - **Example**: Contacting the bank’s fraud department.

Have you found anything concerning in your payment history? 🚩 For example, small transactions in places you've never visited? If so, contact your bank immediately - scammers use this method to test stolen payment card data! Thanks to advanced IT infrastructure, hackers do this conveniently and remotely, and the account owner doesn't notice the minimal expenses. Therefore, remember to check your payment history as often as possible 💡 The US Department of Justice recently revealed the operation of the "Try2Check" website, which allowed criminals to check stolen cards. Despite neutralizing this one platform, there are still plenty of similar places on the internet. At Mastercard, we work hard to identify and disarm constantly emerging threats. However, remember that your vigilance and awareness are equally important! So, if you want to learn more about this method of theft, check the linked article 👇 #Mastercard #cybersecurity #security #fraud #payment #banking

Beware of fraudsters posing as government officials trying to steal your cash Impersonation scams are often used by scammers to steal your hard-earned money, and their latest trick involves posing as government officials. The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has issued a warning that scammers are trying to impersonate its officials and ask people to wire money, send cash, use cryptocurrency or purchase gift cards. GET SECURITY ALERTS, EXPERT TIPS – SIGN UP FOR KURT’S NEWSLETTER – THE CYBERGUY REPORT HERE In a notice on its site, CISA has warned Americans that phone scammers have begun impersonating the agency online. CISA is a part of the U.S. Department of Homeland Security. It is responsible for maintaining the security, resilience and reliability of the nation's cyber and physical infrastructure. "Impersonation scams are on the rise and often use the names and titles of government employees. The Cybersecurity and Infrastructure Security Agency (CISA) is aware of recent impersonation scammers claiming to represent the agency," CISA said in the notice. "As a reminder, although CISA staff will occasionally contact organizations with important notifications, CISA staff will never contact you with a request to wire money, cash, cryptocurrency, or use gift cards and will never instruct you to keep the discussion secret," the agency added. Scammers often claim to represent a company or organization when they try to scam you over a call – remember the famous Microsoft customer support calls? However, it becomes more effective when they claim to represent a government. CISA advises you to hang up immediately when scammers ask for money and note their number. You can validate the contact by calling CISA at 844-SAY-CISA (844-729-2472) or report it to law enforcement. CISA is not the only agency being impersonated by scammers. Government agencies like the CIA and FTC are also frequently targeted. A recent example involves Charlotte Cowles, a financial advice columnist, who was scammed out of $50,000 by people posing as government officials. She shared her experience to help others from being scammed. ALERT: 106 MILLION AMERICANS EXPOSED AS MASSIVE DATA LEAK ROCKS BACKGROUND CHECK FIRM BEWARE OF ENCRYPTED PDFs AS LATEST TRICK TO DELIVER MALWARE TO YOU Impersonation scams have led to huge monetary losses. Americans lost over a billion dollars to scammers impersonating businesses or government agencies in 2023, the Federal Trade Commission said in April. The FBI’s IC3 reports suggest these scammers mainly targeted older Americans, stealing $589.8 million from individuals over 60 in tech support scams and $179.6 million by impersonating the government. You can avoid impersonation scams by being careful and following some of the tips I've listed below. 1) Stay updated: The first step in protecting yourself from government impersonation fraud is simply being educated about it. Keep yourself updated about these...