Zelle – Network Securitas

August 5, 2019

The Risk of Weak Online Banking Passwords

This post was originally published on this siteIf you bank online and choose weak or re-used passwords, there’s a decent chance your account could be pilfered by cyberthieves — even if your bank offers multi-factor authentication as part of its login process. This story is about how crooks increasingly are abusing third-party financial aggregation services like Mint, Plaid, Yodlee, YNAB and others to surveil and drain consumer accounts online. Crooks are constantly probing bank Web sites for customer accounts protected by weak or recycled passwords. Most often, the attacker will use lists of email addresses and passwords stolen en masse from […]

March 17, 2021

Fintech Giant Fiserv Used Unclaimed Domain

This post was originally published on this siteIf you sell Web-based software for a living and ship code that references an unregistered domain name, you are asking for trouble. But when the same mistake is made by a Fortune 500 company, the results can range from costly to disastrous. Here’s the story of one such goof committed by Fiserv [NASDAQ:FISV], a $6 billion firm that provides online banking software and other technology solutions to thousands of financial institutions. In November 2020, KrebsOnSecurity heard from security researcher Abraham Vegh, who noticed something odd while inspecting an email from his financial institution. […]

October 7, 2022

Report: Big U.S. Banks Are Stiffing Account Takeover Victims

This post was originally published on this site When U.S. consumers have their online bank accounts hijacked and plundered by hackers, U.S. financial institutions are legally obligated to reverse any unauthorized transactions as long as the victim reports the fraud in a timely manner. But new data released this week suggests that for some of the nation’s largest banks, reimbursing account takeover victims has become more the exception than the rule. The findings came in a report released by Sen. Elizabeth Warren (D-Mass.), who in April 2022 opened an investigation into fraud tied to Zelle, the “peer-to-peer” digital payment service […]