Loading...

Surveillance, staging and the fraud lifecycle

Published: August 1, 2015 by Maria Scalone

Imagine the following scenario: an attacker acquires consumers’ login credentials through a data breach. They use these credentials to test account access and observe account activity to understand the ebbs and flows of normal cash movement – peering into private financial records – verifying the optimal time to strike for the most financial gain.

Surveillance and fraud staging are the seemingly benign and often-transparent account activities that fraudsters undertake after an account has been compromised but before that compromise has been detected or money is moved. Activities include viewing balances, changing settings to more effectively cover tracks, and setting up account linkages to stage eventual fraudulent transfers.

The unfortunate thing is that the actual theft is often the final event in a series of several fraudulent surveillance and staging activities that were not detected in time. It is the activity that occurs before theft that can severely undermine consumer trust and can devastate a brand’s reputation.

Read more about surveillance, staging and the fraud lifecycle in this complimentary whitepaper.

Related Posts

Bot attacks are plaguing financial institutions. The risks are significant, weakening both security and financial stability.

Published: October 22, 2024 by Alex Lvoff

AI fraud detection helps organizations enhance their security measures, reduce fraud losses, authenticate identity, and improve customer experience.

Published: August 12, 2024 by Julie Lee

Review of Findings & Front-line Insights Panel Participants: About NetDiligence Cyber Claims Study It is NetDiligence’s 13th year of...

Published: February 12, 2024 by Michael Bruemmer