E-Business
Kaspersky Debuts Fraud Prevention Solutions
Kaspersky Lab has introduced two fraud prevention solutions, Kaspersky Advanced Authentication, to prevent account compromises when developing digital channels, and Kaspersky Automated Fraud Analytics, to keep fraudulent activity under control.
The company says the rapid growth of digital channels has seen online fraud become a problem for a wide range of businesses beyond the finance sector, including loyalty programme providers and eCommerce entities.
These businesses need to improve the security of online transactions and lower the risk of fraud, without negatively affecting user experience.
Kaspersky’s Advanced Authentication solution employs a set of technologies that identify any anomalous or possible fraudulent activity at both the login and session stages, and flag it to the company for additional checks and confirmation with the user.
The solution analyses behavioural and biometric data, device reputation and other non-personalised metadata, while machine learning and complex algorithms ensure high detection rates and lower anomaly detection time.
The authentication process requires no intervention from the user, allowing organisation to prioritise high user retention and growth of their digital channels.
Fraud, money laundering
According to Kaspersky, financial crimes, including fraud and money laundering, are a serious concern for today’s economy, and are seeing regulating bodies continually introduce legislation to prevent them.
“This puts a responsibility on financial organisations who must achieve complete transparency in their operations, not only for the sake of their businesses, but also to maintain compliance with evolving regulations,” says Kaspersky.
The company’s Automated Fraud Analytics helps organisations lower fraud-related costs and reduce the risk of fines for non-compliance from regulatory bodies.
“It adds an extra level of knowledge of industry-specific fraud and money-laundering scenarios, through access to fraud intelligence, and combines this knowledge with advanced technologies that automatically detect serious incidents while still in the early stages.
The solution gathers and analyses hundreds of depersonalised indicators, such as the user’s device and its environment, behavioural and biometric patterns of a user, remote access tool and bot usage, mobile malware and Web injects.
Machine learning algorithms help the solution correlate these findings with the patterns of account takeover, new account fraud and money laundering, via Kaspersky Fraud Prevention Cloud and global fraud intelligence based on big data.
Due to its linking and mapping functionality, the solution automatically identifies cross-organisational money laundering schemes by looking for correlations between typical profiles, devices used, behavioural patterns and other details of the sessions that are known to be involved in similar operations.
Alessio Aceti, VP, New Business, at Kaspersky Lab, says while online fraud remains a disturbing reality, primarily for financial organisations, more and more industries are at risk, as they invest money and resources in developing the digital part of their businesses.
“That is why we have revised our offering to include more diversified, tailored solutions for specific scenarios and business requirements: whether it’s a secure authentication of users without extra layers, or more in-depth fraud analysis and intelligence,” he concludes.
E-Business
Ride the ‘Wicked’ Wave: Temu Brings Green Magic to Christmas
Temu is set to enchant the holiday season with its unique blend of green magic, bringing a touch of festive wonder to Christmas celebrations. The initiative, themed “Ride the ‘Wicked’ Wave,” promises to deliver an unforgettable experience, combining technology, entertainment, and commerce to create a magical holiday atmosphere.
Temu’s green magic initiative aims to captivate audiences with a variety of festive offerings, from fashion to home decor, handmade crafts, beauty items, chic clothes, shoes, and more.
The platform’s innovative approach ensures that customers can enjoy a seamless shopping experience, with free shipping on all orders1.
As part of the celebration, Temu has also introduced a magical winter Christmas backdrop, perfect for creating a festive ambiance at home.
This backdrop, made from high-quality polyester, is designed to bring the spirit of the season to life, making it an ideal addition to any holiday decor.
With its commitment to providing exceptional products and services, Temu continues to set new standards in the e-commerce industry, ensuring that customers can enjoy the magic of Christmas in style
E-Business
Kaspersky Cybersecurity Experts Warn of Evolving Holiday Scams
With the holiday season here, it’s not only a time for magic and celebration but also a prime opportunity for fraudsters to exploit the festive rush for gifts and bargains.
Amid the sparkle of year-end celebrations, cybersecurity experts at Kaspersky have identified several prominent scams targeting consumers across various regions and languages.
Fake holiday shops
Deceptive online stores mimic the look and feel of legitimate e-commerce sites, offering seasonal items such as decorations, gifts, and even trees at steep discounts.
These sites often appear highly localised, adapting their language and currency based on the user’s geographic location, leveraging data extracted from browsers.
Victims typically encounter these stores by following links in ads or pop-ups.
These sites aim to steal funds. Often, these fraudulent stores exist only for a short period, as they get flagged by the vendors of goods.
Free mobile data offer
This scam plays on the allure of free services, claiming to provide free mobile data valid across all major telecom providers.
In order to receive the free data, victims are required to share the promotion link with 10–15 contacts via WhatsApp, ensuring the scam spreads exponentially.
After sharing, victims are prompted to enter their personal details — name, phone number, and email — into a form.
The collected data is then sold on the Dark Web or used in other fraudulent activities.
In some cases, victims unknowingly download malware that compromises their devices, leading to further exploitation.
Holiday payments on behalf of government agencies
Fraudsters impersonate government authorities, promising fictitious payments in celebration of the holidays.
This scam has been reported in several African countries, including Kenya and Nigeria.
To receive payment, victims are directed to fill out a survey which requires personal details like name and phone number.
Once the survey is completed the user is asked to share the link to the announcement with their connections via WhatsApp.
These details are collected and added to fraudulent databases, then sold to third parties or used for phishing attacks and identity theft.
This scam exploits trust in government systems and the festive spirit of giving.
Christmas recipe scam
This scam begins with a seemingly harmless email promoting a holiday cake recipe.
Victims are encouraged to pay a small fee to access the recipe.
Once payment is made, the victim’s credit card information is stolen. The fraudsters also collect other personal information essential for accessing banking services.
“Holiday scams are not a new phenomenon, but they have evolved to become increasingly sophisticated, leveraging regional traditions and technology to exploit unsuspecting victims.
The rush of the holidays makes people more vulnerable — they’re distracted, eager to grab a deal, or trust promotions that align with festive themes. Cybercriminals are not just stealing money — they’re building massive databases of personal information that fuel future fraudulent schemes.
The holiday season is a time for joy and giving, but users need to remain vigilant to ensure they’re not unknowingly giving fraudsters the tools to exploit them further,” said Olga Svistunova, Senior Web Content Analyst at Kaspersky.
E-Business
Hackers Seize NBS Newly Redesigned Website
Cybercriminals have persisted in targeting Nigerian government websites, with the most recent attack on the National Bureau of Statistics (NBS).
The NBS confirmed the development in a brief statement posted on its X (formerly Twitter) account
It said that its newly redesigned official website has been hacked.
The NBS disclosed the incident and assured the public that efforts are underway to recover the website.
It urged the public to disregard any messages or reports posted until the full recovery of its website.
The statement on X read: “This is to inform the public that the NBS website has been hacked, and we are working to recover it. Please disregard any message or report posted until the website is fully restored.”
The NBS plays a vital role in Nigeria’s development, serving as the official statistical agency responsible for collecting, analyzing, and disseminating statistical data on the country’s economy, governance, and development
This marks the latest in a series of attacks on Nigerian government websites, a trend that has been ongoing for some years.
From government ministries to officials, cyberattacks in Nigeria have surged to alarming levels, with even financial institutions falling victim.
The Nigerian Communications Commission (NCC) and National Information Technology Development Agency (NITDA) frequently issue warnings of cybercriminals targeting individuals, government entities, banks, and telecom companies.
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