Avivah Litan

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Archives for July, 2012


New Fraud Trend – Watch those Slippery Agents

by Avivah Litan  |  July 30, 2012  |  Comments Off

I’ve been hearing more and more from our clients about a new fraud trend involving agent and distributor based sales programs. These are the types of programs where distributors work at home and sell goods and products like makeup or nutritional supplements over the web either directly to consumers, or through other distributors who they [...]

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Small Kentucky town latest victim of credit card fraud affecting 25% of police force

by Avivah Litan  |  July 12, 2012  |  Comments Off

I’ve been hearing from U.S. banks that card fraud continues to be a major issue for them, while online bank account takeover and trojan-based attacks have flattened out. The new trend, they say, is ‘micro-attacks’ that are localized, small in nature and which stay under the radar longer, giving the crooks more time to rack [...]

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Court rules against bank in business account cyber-heist but who’s to blame?

by Avivah Litan  |  July 10, 2012  |  Comments Off

Last week, a federal appeals court reversed a May 2011 lower court ruling that held PATCO Construction Inc. responsible for ACH fraud committed by hackers who used the Zeus Trojan to pilfer $588,000 out of PATCO’s account at Ocean Bank in 2009. The appeals court deemed the bank’s security procedures ‘commercially unreasonable’ and recommended that [...]

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Mobile Fraud creeps in?

by Avivah Litan  |  July 9, 2012  |  1 Comment

I’ve been talking with lots of financial services companies both in the U.S. and abroad over the past few months that have a strong presence in the mobile channel and are seeing very healthy use and growing adoption of their mobile applications. These apps range from mobile banking and brokerage services, to mobile shopping and [...]

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