One of the more common ways cybercriminals cash out access to bank accounts involves draining the victim’s funds via Zelle, a “peer-to-peer” (P2P) payment service used by many financial institutions that allows customers to quickly send cash to friends and family. Naturally, a great deal of phishing schemes that precede these bank account takeovers begin with a spoofed text message from the target’s bank warning about a suspicious Zelle transfer. What follows is a deep dive into how this increasingly clever Zelle fraud scam typically works, and what victims can do about it.
A story in a national news source earlier this month about freezing your child’s credit file to preempt ID thieves prompted many readers to erroneously conclude that all states allow this as of 2016. The truth is that some states let parents create a file for their child and then freeze it, while many states have no laws on the matter. Here’s a short primer on the current situation, with the availability of credit freezes (a.k.a “security freeze”) for minors by state and by credit bureau.
U.S. state and federal law enforcement officials appear poised to tap into public concern over the terror attacks in France last week to garner support for proposals that would fundamentally weaken the security of encryption technology used by U.S. corporations and citizens. Here’s a closer look at what’s going on, and why readers should be tuned in and asking questions.
When it comes to reporting on breaches involving customer accounts at major brands, the news media overall deserves an F-minus. Hardly a week goes by when I don’t hear from readers about a breathless story proclaiming that yet another household brand name company has been hacked. Upon closer inspection, the stories usually are based on little more than anecdotal evidence from customers who had their online loyalty or points accounts hijacked and then drained of value.