Blog

Blog

What Is Application Fraud?

Tax Form Application FraudApplication fraud is a form of identity theft.Applying for new products, often credit cards, bank accounts, loans, tax rebates using somebody else’s stolen identity and costs the financial sector millions each year.In addition to the financial loss, this type of fraudulent activity can create high levels of brand damage and negative publicity, customer loss and reduced levels of satisfaction.Our recommendationsEarly behaviour profiling is a key part to combating Application Fraud.Real customers don’t apply for credit cards and loans everyday.For your company’s

Read More >

NuData Security Supports Petition Against Passwords

locked padlock[text size='1.5em'] NuData Security is proud to be supporting the Petition Against Passwords in their quest to make businesses and consumers aware of their inherent weaknesses.[/text] [text size='1.1em'] We specialize in real-time web threat detection, primarily with Fortune 50 companies - One of the largest, most devastating threats to their financials and reputation is “account takeover” where a malicious user gains access to a previously legitimate user’s account, increasingly through stolen passwords. Passwords are an Enabler to Fraud Imagine what

Read More >

Ubuntu Forums Hacked – 1.82 Million Usernames Stolen

canonical logoIn a press release on their website, Canonical Ltd announced that on 14 July there was a breach of Ubuntu’s forums leading to the theft of 1.82 million of it’s users’ details. The attacker used a method known as “cross site scripting” or “XSS” which is a string of code that executes a command, in this case, to steal cookies from a logged in user. By sending this code, disguised as a hyperlink in a message to an administrator, the

Read More >

Stolen Credit Cards Just the Beginning of a Costly Cycle for eCommerce Merchants

credit cardsOn July 26th, a 5 man Eastern European credit card hacking ring was caught and broken. The defendants were discovered with over 160 million credit card and debit card numbers.  Although this is the largest bust in US history, the proliferation of this type of crime is growing and understanding the tools that these criminals use once the card numbers are exposed is critical to curb the financial damage once the card has been breached. Just as eCommerce merchants and

Read More >

What is New Account Fraud?

Create Account ButtonSometimes known as: Automated Account Creation, Account Creation Fraud Applying for new online accounts and memberships using fictional user information. The end goal of the fraudster may not be strictly financial. It can be used to “test” stolen credit card details, flood a review site with positive reviews, falsely fully book a restaurant, download software or apps many times in order to get it noticed on a ‘most downloaded’ list or ‘top rated’. Similar to Application Fraud - fraudsters will

Read More >