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Banking Fraud

What Is the True Cost of Fraud?

by Christine Meyers 30 July 2012

Organizations lose millions to fraud. According to the most recent ACFE Report to the Nations, organizations lose about 5% of their annual revenue to fraud. That number is staggering. What’s even more troubling is all the different ways organizations are “paying” for the hidden fraud in their companies today. Here are just a few of [...]

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Anonymous shreds intelligence firm Stratfor in latest hack

by Larry Meeusen 29 December 2011

Stratfor specializes in “strategic intelligence on global business, economic, security and geopolitical affairs,” It appears Stratfor failed to encrypt any of its credit card information, despite promises “to maintain safeguards to protect the security of these servers and your personally identifiable information,” according to its privacy policy.” http://www.scmagazine.com/anonymous-shreds-intelligence-firm-stratfor-in-latest-hack/article/220781/?DCMP=EMC-SCUS_Newswire I just wonder when will corporations and [...]

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The Impact of Fraudulent Behavior: Internal v External

by Christine Meyers 25 September 2011

Financial losses from the recent data hacks on banks and online services are being revealed bit by bit. For example, last month Citigroup disclosed that its credit card customers suffered losses of around $2.7 million from their account details being stolen.  While  the loss is serious it actually only applied to 1% of the cards affected [...]

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