Pindrop Security, a startup focused on combating phone-based fraud, announced that it has raised $75 million in a Series C funding round led by Google Capital, bringing the total raised by the company to $122 million. [Read More]
When it comes to cybercrime, the police really can’t and aren’t going to protect residents of your town. The same goes for all towns and cities. Unless you’re talking a high six-figure theft, it's unlikely an officer will be assigned to your case.
Cooperation in the underground economy could enable a fraudster in Russia who masters the art of phishing to team up with another fraudster who already has the infrastructure of cashing out compromised online banking accounts of US banks.
To maximize profits, fraudsters need to do a lot of learning. They can either learn techniques of areas they haven't focused on yet, learn better techniques in the field they already specialize in, or learn new cover stories to improve the techniques they already use.
The worlds of counter terrorism and fraud prevention should increase their ties. Systems that are already implemented in one world may be applied to the other. Solution providers and policy makers from both worlds need to meet up and share ideas, thoughts and experience for the benefit of both.