Innovative Proxy Phantom ATO Fraud Ring Haunts eCommerce Accounts

A sophisticated fraud ring, dubbed Proxy Phantom, has pushed the boundaries of credential-stuffing attacks with a dynamic account takeover ATO technique that was flooding eCommerce merchants in the third quarter. Researchers at Sift uncovered the group, which is innovating in the realm of...

Fraud Ring Launders Money Via Fake Charity Donations

A money-laundering fraud ring is targeting donation sites, taking advantage of the outpouring of charity sparked by the global pandemic. Dubbed Cart Crasher by the Sift security firm, the fraud ring leverages guest checkout options on donation sites to steal money and launder stolen payment cards...

Operation High Roller Banked on Fast-Flux Botnet to Steal Millions

A fraud ring that attacked financial transfer systems in an attempt to get at wealthy high-end banking customers used a complicated web of malware and compromised servers in several countries to walk off with an estimated $78 million earlier this year. While the attacks targeted financial systems...

New Fraud Ring 'Operation High Roller' Targets the Rich

A recent fraud ring through which attackers raided high-value bank accounts, nicknamed Operation High Roller .PDF, employed attacks that were quick, required no human interaction and have already affected several tiers of credit unions, regional banks and large global banks, over the last several...

Four Face Jail Time for Ghost Market Crime Forum

Two U.K. teens and twenty-somethings received a collective prison sentence of fifteen years after administering the Ghost Market criminal forum, a meeting place and a classroom where nefarious individuals found anything from banking malware to methamphetamine recipes. Gary Paul Kelly, an unemploy...

Irish Banking Fraud Ring Uncovered

A Moldovan man alleged to be the mastermind behind an international fraud ring that targeted both private and corporate bank accounts has been arrested in Limerick, Ireland, in a joint operation by Gardai and customs officials. According to a report in the Irish Independent, this operation was...