PYMNTS

FEBRUARY 10, 2020

have plummeted in recent years, and ransomware cyberattacks have skyrocketed. billion, and have dropped 84 percent since 2018, down to less than $560 million. Data Shows 41 Pct Hike In Ransomware Attacks In 2019. billion in 2019, much larger than the $3 billion incurred in 2017 and 2018 combined.

Ransomware 56

Ransomware Central Bank Crime Bitcoin 56

PYMNTS

MAY 21, 2018

New research from the NTT Security 2018 Global Threat Intelligence Report, released last week by Dimension Data , found a sharp increase in ransomware attacks aimed at supply chains last year. There was a 350 percent increase in ransomware last year, accounting for 7 percent of all malware attacks.

Ransomware 42

Ransomware Research Accounts Government 42

PYMNTS

AUGUST 21, 2018

organizations fall victim to ransomware attacks every minute — and more than $1 million is lost each minute due to cybercrime. RiskIQ ’s 2018 “ The Evil Internet Minute ” investigated the cyber threats that organizations and internet users face every minute. A new report has found that 1.5 phishing email attacks per minute and 2.9

Ransomware 53

Ransomware Phishing Compromise Credit Cards 53

PYMNTS

FEBRUARY 20, 2019

. “By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from peoples’ accounts, investigate ransomware attacks and identify bad actors. ” In other news, new information has shown that Bitmain lost about $500 million in the third quarter of 2018.

Bitcoin 65

Bitcoin Posting Cryptocurrency Blockchain 65

PYMNTS

OCTOBER 11, 2020

Rogers ran the NSA from 2014 to 2018 and now is a director at a consultancy called CyberCube that works with insurance companies. Rogers also told FT ransomware is proliferating because companies increasingly are willing to give in to the demands of criminals who have taken over corporate computer systems.

Ransomware 116

Ransomware Assessments Consulting On-Demand 116

The Paypers

APRIL 12, 2018

(The Paypers) Ransomware attacks are a key cybersecurity threat for global organizations, has warned Verizon’s 2018 Data Breach Investigations Report (DBIR).

Ransomware 39

Ransomware Data Breach Cybersecurity Breach 39

The Fintech Times

FEBRUARY 5, 2024

Despite many organisations putting forward a defensive stance that they will never pay out a ransomware attack, research from Cohesity , the AI-powered data and security firm, has revealed that over 97 per cent of UK firms have paid a ransom in the last two years. Many organisations also said they would pay a ransom to reduce disruption.

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Ransomware Data Security Data Breach Breach 115

PYMNTS

APRIL 4, 2019

The latest research in small business cybersecurity has revealed the relentless nature of the threat, with new strategies emerging and new strains of ransomware rearing their ugly heads. As a result, 71 percent of ransomware attacks are now targeting small businesses, according to a report released by Beazley Breach Response (BBR).

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Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

SEPTEMBER 13, 2018

Issues like phishing and the Business Email Compromise (BEC) are top concerns, yet ransomware cannot be ignored as a destructive force. In a survey of 1,700 managed service providers (MSPs) that work with a combined 100,000 SMBs, Datto found that 99 percent of respondents agree ransomware attacks will probably pick up this year and next.

Ransomware 58

Ransomware MSPS Disaster Recovery Cybersecurity 58

PYMNTS

JANUARY 30, 2020

Bitcoin has also been a crucial part of the recent increase in ransomware cyberattacks. One percent of all bitcoin transactions are criminal in nature, nearly doubling since 2018. Ransomware, tax evasion and money laundering data, however, are more than likely underestimated because of the difficulty in tracking the relevant data.

Bitcoin 61

Bitcoin Ransomware Money Laundering Cryptocurrency 61

PYMNTS

OCTOBER 14, 2019

TechCrunch reported that the company was hit with a ransomware attack. Ransomware attacks are becoming more targeted, sophisticated, and costly, even as the overall frequency of attacks remains consistent,” the FBI said in the warning. The FBI recently warned that “high impact” attacks would be hitting large companies.

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Ransomware FBI Consulting Encryption 51

The Paypers

NOVEMBER 13, 2017

(The Paypers) While ransomware predominately attacked Windows systems in the last six months, Android, Linux and MacOS platforms were not immune, according to SophosLabs 2018 Malware Forecast.

Ransomware 28

Ransomware 28

PYMNTS

MARCH 4, 2019

The last time the market was more indecisive was at the start of 2018. In other news, PricewaterhouseCoopers (PwC) has released a special bulletin connecting Iranian nationals and the notorious SamSam ransomware with crypto exchange WEX (formerly BTC-e). million coming from SamSam ransomware.

Bitcoin 52

Bitcoin Ransomware Money Laundering Facilitators 52

PYMNTS

MARCH 7, 2019

PwC has found proof that Iranian nationals linked to the SamSam ransomware were using the WEX exchange to launder their funds. Department of Justice to prove that the cybercriminals used WEX (then known as BTC-e) before the market closed in September 2018. The auditing giant used data from the U.S.

Bitcoin 59

Bitcoin Ransomware Law Enforcement Blockchain 59

The Fintech Times

MAY 5, 2024

In addition, 85 per cent of all Resilience clients that experienced ransomware attacks avoided paying a ransom in 2023, compared with 71 per cent of cyber policyholders industrywide.” ” Cyber risks are forecast to increase in cost and complexity, and ransomware attacks remain a global threat to enterprises.

Risk Mitigation 69

Risk Mitigation Mitigation Risk Ransomware 69

PYMNTS

FEBRUARY 20, 2019

With cybercriminals not making as much from ransomware and cryptojacking, they have been focusing more on a strategy called “formjacking” to raise cash. That’s according to Symantec’s Internet Security Threat Report , which it issued on Wednesday (Feb. million each month.

Scams 69

Scams Identity Theft Compromise Ransomware 69

PYMNTS

MARCH 6, 2018

SonicWall said that its 2018 Cyber Threat Report found that cyber threats are on their way to becoming the number one threat to businesses and brands on a global basis. Ransomware attacks stood at 184 million last year, down markedly from the 638 million seen in 2016. Malware is up – and beware the malware cocktails.

Ransomware 43

Ransomware Volume Encryption Security 43

PYMNTS

JANUARY 10, 2020

Ransomware , to be exact. The fact that the system has shifted to manual tasks speaks to the impact ransomware attacks can have. The fines can be as much as 4 percent of the annual top line (Travelex logged the equivalent of about $950 million in 2018 sales). Defaulting to Manual Processes.

Ransomware 52

Ransomware Cross-Border Encryption End User 52

PYMNTS

JULY 25, 2019

According to Accenture , the average number of security breaches in 2018 grew by 11 percent, from 130 to 145. Ransomware attacks increased 21 percent from 2017 to 2018, and malicious insider attacks increased 18 percent during that same timeframe. Humans as Weak Links. Businesses spent $2.09

Phishing 69

Phishing Fraud Detection Automation Ransomware 69

PYMNTS

MARCH 9, 2020

The FBI has once again sounded the alarm on the proliferation of digital fraud like ransomware and the business email compromise (BEC) scam, releasing new stats on the financial damage such criminal activity has caused in the U.S. in recent years. billion in 2019.

Business Email Compromise 56

Business Email Compromise FBI Email Compromise Scams 56

PYMNTS

APRIL 29, 2019

Twenty-nine percent of SMB CEOs said economic conditions had recently improved , Vistage’s Q1 analysis revealed, a significant decline from the 44 percent who said the same in Q4 2018, and even more of a drop from the 62 percent who agreed in Q1 2018. middle-market in the recently released Golub Capital Altman Index.

PayPal 67

PayPal Small Business Ransomware Shutdown 67

PYMNTS

AUGUST 9, 2019

ransomware attacks have recently hit two Florida city government systems, followed by an attack on an Indiana city. The case has also been reported to the Indian Computer Emergency Response Team (CERT-In). Details on the exact nature of the cyberattack were unavailable. Government systems are increasingly being targeted by cyberattacks.

Ransomware 43

Ransomware Cybersecurity Governance Government 43

PYMNTS

APRIL 13, 2020

Fraud was all over the headlines this past week, with top stories related to Travelex’s ransomware payment , Luckin Coffee’s internal accounting fraud investigation, and new research anticipating an ongoing surge in payments fraud. Though the figure is high, it’s a decrease from 80 percent in 2018, the AFP noted.

Business Email Compromise 63

Business Email Compromise Email Compromise Scams Law Enforcement 63

PYMNTS

MAY 29, 2020

And in 2018, just after bitcoin’s price seemingly peaked at the end of 2017 at just under $20,000, the famed investment firm said bitcoin could indeed be used as a form of currency. Meanwhile, money laundering represented $2.8 billion sent to currency exchanges from criminal entities.

Bitcoin 74

Bitcoin Wire Transfer ACH Network Money Laundering 74

PYMNTS

JUNE 26, 2018

Kaspersky Lab , the security company, announced Tuesday (June 26) a new “State of Industrial Cybersecurity 2018” survey, which found that 65 percent of organizations globally believe that OT/ICS security risks are more likely with IoT over the next year.

Cybersecurity 44

Cybersecurity Ransomware Risk Breach 44

PYMNTS

FEBRUARY 22, 2019

As phishing and ransomware become known commodities in the world of digital security, the hackers and crackers just change up their methods. The rise of formjacking accompanies the decline of ransomware attacks, which according to the report are down 20 percent year-on-year — the first decline since they began emerging on the scene in 2013.

Ransomware 46

Ransomware Credit Cards Identity Theft Privacy 46

PYMNTS

MAY 29, 2019

billion in damages in its first week; MyDoom, which was reportedly commissioned in Russia; SoBig, which has infected PCs in the hundreds of thousands; WannaCry, a ransomware; Dark Tequila, which stole bank credentials when users were offline; and Black Energy, which was responsible for the major blackout in the Ukraine in 2015.

Data Breach 51

Data Breach Cybersecurity Breach Ransomware 51

CB Insights

MARCH 27, 2019

Facebook, for example, disclosed that an unprecedented data breach in September 2018 exposed the social media accounts of up to 90M users — including login credentials — effectively compromising access to any site that lets users log in with their Facebook account. Collectively, FAMGA has poured nearly $2.5B Confirm.io

Cybersecurity 76

Cybersecurity Encryption Data Breach Breach 76

PYMNTS

FEBRUARY 20, 2019

Citing 2018 data from Verizon, Mastercard noted research that suggested the majority of cyberattacks are actually targeted at SMBs, ranging from phishing scams and the Business Email Compromise (BEC) to malware and ransomware attacks. In a press release on Tuesday (Feb.

Cybersecurity 56

Cybersecurity Visa Data Breach Small Business 56

PYMNTS

JANUARY 29, 2020

Illegal activity concerning cryptocurrency is at an all-time high, particularly involving drug sales and ransomware cyberattacks. New reports say 1 percent of all Bitcoin transactions involve criminal activity, and while this doesn’t sound like a lot, it’s almost double from 2018. Following a move by British Airways, U.S.

Bitcoin 52

Bitcoin Transactions Online and Mobile Banking Cross-Border 52

The Paypers

FEBRUARY 28, 2018

(The Paypers) A Trend Micro report has revealed that ransomware, banking malware, and other threats aimed at smartphones will pose a growing threat to organizations and individuals in 2018.

Ransomware 28

Ransomware 28

PYMNTS

AUGUST 5, 2019

For example, impersonating a CEO or other high-ranking business officer accounted for 33 percent of sampled incidents in 2017, declining to 12 percent in 2018, while impersonation of an outside entity was 20 percent of 2018 reports, from an unmeasured amount in 2017. The ransomware came through an invoice delivered through BEC.

Business Email Compromise 43

Business Email Compromise Fincen Scams Email Compromise 43

PYMNTS

FEBRUARY 3, 2020

billion stolen from millions of victims in 2019, over three times more than in 2018. Bitcoin has also been pivotal in the rise in ransomware cyberattacks. Dark web drug sales were up 60 percent, hitting $601 million from January to March 2019, according to blockchain analysis firm and government advisor Chainalysis.

Bitcoin 52

Bitcoin Ransomware SARS Crime 52

PYMNTS

MARCH 3, 2020

Phishing attacks and ransomware are also popular, with the former now constituting 30 percent of all fraud attempts and the latter hitting more than 50 municipalities during the first half of 2019.”. billion in 2018 and is expected to reach USD 31.15 The legitimate world is on the offensive, as you would expect.

Federal Trade Commission 53

Federal Trade Commission FTC Account Takeovers Ransomware 53

PYMNTS

MAY 2, 2019

Last year saw record levels of venture capital pumped into cybersecurity startups, and researchers at Gartner expect companies to increase cybersecurity spend by 9 percent between 2018 and 2019, reaching $124 billion.

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

PYMNTS

MAY 6, 2019

SMBs turned to online lenders when seeking funding in 2018 , the latest analysis from Funding Circle and Oxford Economics found. Fifty-five percent of small business owners said they’d pay to get their data back in the event of a ransomware attack. Thirty-two percent of U.S.

Small Business 46

Small Business Ransomware Research Economy 46

PYMNTS

MAY 24, 2018

Separate research from Dimension Data, in its NTT Security 2018 Global Threat Intelligence Report , warned that cyberattacks are increasingly targeting supply chains, with cyber attackers after intellectual property and trade secrets, as reported by The Economic Times of India.

Finance 40

Finance Federal Reserve Small Business Fed 40