December 4, 2024 at 07:25AM The text discusses the presence of talented security professionals versus charlatans in teams. While genuine members contribute positively, charlatans disrupt morale and progress through tactics like targeting, cutting down peers, and overpromising. Recognizing these behaviors is essential to mitigating their impact and maintaining team integrity. ### Meeting Takeaways on Identifying … Read more
November 29, 2024 at 12:03PM Ridesharing apps, while convenient, face security concerns, prompting the use of AI for enhanced safety. AI aids in identity verification, fraud detection, and real-time threat monitoring, ensuring the protection of riders and drivers. Its evolving role strengthens security frameworks and addresses increasingly sophisticated cyber challenges in the ridesharing landscape. **Meeting … Read more
November 20, 2024 at 08:52AM Cybercriminals are exploiting a technique known as Ghost Tap, using near-field communication (NFC) to fraudulently withdraw funds from stolen credit cards linked to mobile payment services like Google Pay and Apple Pay. This method allows transactions without the physical card or phone, complicating detection for financial institutions and retailers. ### … Read more
October 30, 2024 at 11:54PM As AI deepfakes advance, regulators utilize existing fraud laws to address misuse despite the lack of specific federal legislation. Agencies like the FTC and SEC focus on combating deception and impersonation. Challenges around privacy, accountability, and recognition remain, necessitating proactive AI governance and monitoring to mitigate risks and maintain trust. … Read more
October 17, 2024 at 04:50PM Swift announced the launch of AI-enhanced fraud detection for global payments in January 2025, following successful collaboration with banks. This service builds on existing capabilities, using data to identify suspicious transactions in real-time. The initiative aims to combat financial fraud, which cost the industry $485 billion in 2023. **Meeting Takeaways: … Read more
October 9, 2024 at 12:13PM Multimodal AI is enhancing cybersecurity by aiding in email fraud detection and enabling attackers to craft more convincing scams. Sophos demonstrates 97% accuracy in identifying phishing emails using large language models. This technology could improve security analysts’ efficiency, though operational costs limit widespread use in email security tools. ### Meeting … Read more
September 27, 2024 at 10:21AM Visa intends to acquire Featurespace, a developer of real-time AI payments protection technology. Featurespace’s solutions analyze transaction data to detect fraud and financial crime. The acquisition is expected to enhance Visa’s fraud detection capabilities and provide benefits to financial institutions and consumers. The transaction is set to close in fiscal … Read more
August 14, 2024 at 02:23PM Experian, a global data and technology company, has acquired NeuroID, an industry leader in behavioral analytics. This move enhances Experian’s fraud risk suite by providing insights into digital behavioral signals for both new and returning users. The integration of NeuroID’s solutions aims to help clients proactively monitor and analyze real-time … Read more
May 30, 2024 at 09:04AM Researchers discovered two ad fraud rings called “Merry-Go-Round,” which redirect millions of online ads daily to shady websites. At its peak, the operation fed 782 million ads per day, but currently serves 200 million. Using complex techniques to evade detection, the fraudsters exploit flaws in online ad placement, causing substantial … Read more
May 10, 2024 at 02:20PM Reality Defender, an AI-based security startup, won the Most Innovative Startup at RSA Conference’s Innovation Sandbox for its deepfake detection platform. With a focus on preventing deepfake fraud, the company uses AI to identify manipulated audio, video, and text in real time. The competition also featured pitches from nine other … Read more