August 19, 2022

IT Regulatory Compliance Security

Timely Topics:

Combating Check Fraud: Still A Major Challenge In The Digital Age

Another recent check fraud scheme financial institutions have been combatting is fraudsters leveraging unwitting accomplices via Instagram. These individuals are contacting Instagram users and paying them to use their accounts to commit the scam. Then, the fraudster utilizes these accounts to post photos of bank account statements with large balances and claims how easy it was to make money through a “currency exchange.” If the target agrees, the fraudster sends the target a check to deposit in their bank account. Once the check is deposited, the fraudster tells the target to withdraw money from the deposit account and send it via an online money transfer system or through cash. After a couple of days, the bank notifies the victim that the check was fraudulent, and the victim could be responsible for the check’s amount.

From “ABA Risk and Compliance” Todd Robertson (7/21/2022)

Microsoft Warns Of Large-Scale AiTM Phishing Attacks Against Over 10,000 Organizations

The intrusions entailed setting up adversary-in-the-middle (AitM) phishing sites, wherein the attacker deploys a proxy server between a potential victim and the targeted website so that recipients of a phishing email are redirected to lookalike landing pages designed to capture credentials and MFA information.

From “The Hacker News” Ravie Lakshmanan (7/13/2022)

Job Hunting? Look Out For Phony Job Postings

Scammers are using the names of well-known employers to post job openings that don’t exist. The purpose? Tricking you into sending them personal information or money upfront to get the job.

From “Federal Trade Commission” Gema de las Heras (6/23/2022)

Keep An Eye Out For Norton Email Scams

As a trusted name in consumer Cyber Safety, NortonLifeLock brands are unfortunately used by hackers and scammers to take advantage of the trust we have built. These criminals fraudulently use our brand names and branding to try to trick and defraud consumers. The bad guys don’t stop with our brands—they also use the names and brands of major banks, telecoms, retailers, and credit card companies. So it is smart to be skeptical about any unexpected contact you receive—no matter how trusted the brand.

From “Norton LifeLock” Patrick Schwind (1/11/2022)

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