PYMNTS

MARCH 9, 2017

A new report from CyberEdge Group, a research and marketing firm serving the cybersecurity industry’s top vendors, has found that ransomware incidents are at an all-time high, with one-third of victims paying the ransom associated with an attack. So all in all, it’s the best of times and the worst of times for security folks.”.

Ransomware 60

Ransomware Cybersecurity Compromise Security 60

The Fintech Times

APRIL 11, 2024

The main phishing attacks identified in the report include malicious URLs, malware or ransomware attachments, and compromised account infiltrations. Egress is now urging cybersecurity leaders to adopt new and robust monitoring measures to mitigate potential threats and identify vulnerabilities.

Phishing 69

Phishing Cybersecurity Compromise Ransomware 69

The Fintech Times

JUNE 20, 2024

No bank is immune to this threat, with ransomware attacks on financial services increasing from 55 per cent in 2022 to 64 per cent in 2023. The severity of the challenge is demonstrated in IBM ’s Cost of a Data Breach Report 2023 , which ranks data breaches in the financial sector as second only to the healthcare industry in terms of costs.

Risk 59

Risk Cybersecurity Data Breach Ransomware 59

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).

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

SEPTEMBER 11, 2018

11) that the data breach at British Airways was due to credit card skimming installed by malware hackers. The researcher said the group was highly targeted in their approach, and that the British Airways breach was part of a broader plot to steal records from various websites. This is just the latest breach to hit an airline.

Research 74

Research Data Breach Breach Credit Cards 74

Fintech News

DECEMBER 14, 2023

Triple extortion ransomware? And I reply that the truth is that breaches – even big, expensive, reputation-tarnishing breaches – often happen because of simple, mundane things. Opt for a way to let off some steam that doesn’t compromise your health. Is it the latest AI technology? We all need a way to unwind.

Security 85

Security Breach Rules Ransomware 85

PYMNTS

SEPTEMBER 14, 2020

B2B Software-as-a-Service company Blackbaud recently notified its customers that in February of this year it fell victim to a ransomware attack and was not aware of the issue until about three months later. Cybersecurity experts at Breach Clarity now peg the number of clients impacted at 136.

Breach 52

Breach Multifactor Authentication Ransomware Email Compromise 52

PYMNTS

FEBRUARY 12, 2020

Phishing/vishing/smishing/pharming, non-payment/non-delivery, extortion and personal data breaches were among the favored attack patterns last year. As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses.

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

NOVEMBER 28, 2018

Their argument, reports in the Wall Street Journal said, is that small businesses are held to the same standards as large corporates when they suffer a data breach — even if the small business is found to not be at fault. One case, however, involved more than 35,000 compromised files.

Small Business 78

Small Business Cybersecurity Ransomware Compromise 78

PYMNTS

JANUARY 20, 2017

Last year saw a significant surge in the number of extortion threats, with the majority (56 percent) of the 600 organizations surveyed by Radware admitting that they have fallen victim to a cyber ransom attack and 41 percent identifying ransomware as the biggest cyber threat. Gmail Users Get Fooled.

Phishing 45

Phishing Ransomware EMV CHIPS 45

PYMNTS

MAY 2, 2019

Organizations are ramping up cybersecurity investments in response to the ever-climbing threat of data breaches and cyberattacks. The findings are troubling: 44 percent of survey respondents said their companies had experienced “a significant, business-altering data breach caused by a vendor.”

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

PYMNTS

JUNE 1, 2020

Its “Sector 17 – The State of Cybersecurity in the Legal Sector” analysis found that 100 percent of law firms surveyed around the globe had been targeted in a cyberattack, pointing to the industry’s $1 trillion market value, making it a prime target for data breaches, phishing attacks and other malicious online activity.

Phishing 59

Phishing Continuity Data Breach Cybersecurity 59

PYMNTS

SEPTEMBER 14, 2017

Employees certainly need more training to be able to detect a business email compromise (BEC) when they see one. Here’s the problem: The professional who falls victim to eInvoice scams like the business email compromise is, more often than not, a C-Suite executive. Additional Attacks Putting the Enterprise at Risk.

Scams 41

Scams Email Compromise Business Email Compromise Compromise 41

PYMNTS

JANUARY 12, 2017

While ransomware continues to be a go-to tactic for hackers for extorting and manipulating victims out of money, not everyone impacted is willing to just pay up. E-Sports Entertainment Association, which hosts competitive video game tournaments, was recently hit by a ransomware attack but refused to pay the $100,000 demanded of it.

Ransomware 40

Ransomware FBI Database Compromise 40

PYMNTS

JUNE 24, 2020

Elsewhere, a cyberattack raises concerns about the vulnerability of employee data when commercial card information is compromised. All employees with an active company card have been notified of the data breach. Financially, Cognizant said it estimates the impact of the ransomware attack could be between $50 million and $70 million.

Commercial Card 52

Commercial Card Innovation Ransomware Credit Cards 52

PYMNTS

MARCH 24, 2017

Whether a mysterious “crime family” is really out to compromise iCloud and.mac accounts is yet to be seen, but either way the possible extortion of a tech giant is worrisome. Justice Department for allegedly taking part in the massive data breach that rocked Yahoo. This is a highly likely scenario.

Credential 45

Credential Crime Ransomware Data Breach 45

PYMNTS

OCTOBER 12, 2020

Healthcare is another major industry that Whitney said is one of “the most at-risk for ransomware and data breaches” with federally mandated patient privacy requirements (HIPPA) being widely implemented and having a compliant IT security framework that is up to date and in place is essential.

Cybersecurity 83

Cybersecurity B2B Email Compromise Business Email Compromise 83

FICO

DECEMBER 14, 2021

Data Breach Reporting Use. Only last month, the electronics retail merchant MediaMarkt became the latest victim of a ransomware attack. Under GDPR, these merchants must report a data breach to a supervisory authority within 72 hours. For most, GDPR compliance has been a costly, time-consuming and complicated process.

Scams 52

Scams Data Breach Financial Crimes AI 52

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.

Cybersecurity 56

Cybersecurity Visa Data Breach Small Business 56

PYMNTS

MAY 23, 2017

Earlier this month, corporations and organizations from hospitals to railroads in six continents were stopped in their tracks as the result of a ransomware attack, and the news was filled last year with reports of breaches impacting everyone from Target to Hillary Clinton. McDowell explained.

Authentication 44

Authentication Ransomware Credential Law Enforcement 44

PYMNTS

JANUARY 31, 2017

From baby monitors to smartphones and beyond, there’s virtually nothing that can’t be breached and/or compromised. Through a ransomware attack, there was no guest electronic keycard that was safe — each one had been hijacked by a sneaky hacker.

Ransomware 45

Ransomware FBI Bitcoin Compromise 45

PYMNTS

JANUARY 30, 2017

The latest report from the Identity Theft Resource Center (ITRC) and CyberScout finds a worrying trend: 2016 was a record year for data breaches, with businesses emerging as the largest target for hackers by far. 1,093 data breaches hit entities in the U.S. percent of the total 1,093 data breaches hitting U.S.

Data Security 54

Data Security Governance Government Data Breach 54

PYMNTS

OCTOBER 19, 2018

The American Farm Bureau has estimated that roughly 75 percent of commercial farmers have IoT technologies in place, but less than 5 percent have plans in place to deal with breaches. In addition to scrambling to deal with the fallout of compromised data, SMB owners can also be left vulnerable to ransomware demands.

Risk 76

Risk Security Ransomware On-Demand 76

PYMNTS

DECEMBER 30, 2016

Bank heists and data breaches saw no shortage in 2016, and corporates large and small could no longer avoid the risk of a cyberattack. 2017 will see a continued rise in cybersecurity threats particularly around business email compromise , ransomware and malicious insiders. In addition, the battlefield is evolving.

Checks 58

Checks Email Compromise Security Compromise 58

PYMNTS

OCTOBER 16, 2019

When Pitney Bowes , a major logistics service provider, revealed that it had fallen victim to a ransomware attack , it was only the latest case revealing the threat that cyberattacks not only pose to companies, but also to their business partner networks, suppliers and supply chains. In a statement Monday (Oct.

Risk 43

Risk Compromise Ransomware Mitigation 43

FICO

NOVEMBER 30, 2016

In my recent blog, “Real talk: The imminent and very real danger of IoT,” I wrote: Due to lack of security features, creating an IoT botnet is a great deal easier than phishing users to compromise PCs. Given the ease with which IoT devices can be hacked, we can expect more attacks to follow.

AI 108

AI Compromise Risk Assessment Assessments 108

VISTA InfoSec

AUGUST 8, 2023

But a cybersecurity report shows that 43% of data breaches involve small businesses. They can include computer viruses and ransomware kinds of attacks. Ransomware Ransomware is a malicious software attack targeted at your system to restrict you from accessing critical data for regular business operations.

Small Business 130

Small Business Encryption Ransomware Cybersecurity 130

FICO

APRIL 12, 2017

Depending on the degree of variance, we can assess how likely the behavior is to be aberrant and thus potentially fraudulent or criminal — or, in the case of a network device, how likely that endpoint is to have been compromised by a cyber attacker. Power at scale: Enhancing fraud, compliance and cyber security defenses . Want to know more?

Financial Crimes 49

Financial Crimes Crime Suspicious Activity Report (SAR) SARS 49

PYMNTS

MAY 24, 2017

A ransomware attack, committed on a piece of malware called WannaCry or Wanna Decryptor, infected computers in more than 100 countries, all told. According to recent research , 71 percent of breaches occur using passwords that were either weak enough to be cracked by bad actors or stolen from an usually unwitting human via a phishing scam.

Authentication 40

Authentication Credential Ransomware Phishing 40

PYMNTS

MAY 7, 2018

In its analysis of the Same-Day ACH rollout, NACHA found no evidence that it led to an increase in fraud attempts or successful breaches. In corporate payments, while fraud is typically linked to wire and checks , the rise in Business Email Compromise (BEC) and account takeovers means ACH fraud is a growing threat, same-day or not.

Same Day ACH 47

Same Day ACH Fraud Detection ACH NACHA 47

VISTA InfoSec

JUNE 18, 2024

Whether you’re a small business owner, a corporate leader, or an Information and Communication Technology (ICT) specialist, the consequences of a data breach are severe and far-reaching. These obsolete programs lack ongoing network security updates, making them low-hanging fruit for breaches.

Data Security 208

Data Security Security Encryption Cybersecurity 208

CB Insights

MARCH 27, 2019

Already this year, at least 30 organizations — including coffee chain Dunkin’ and cloud provider Rubrik — experienced major data breaches. These high-profile data breaches (among many others over the last few years) have put the general public on high alert, with talk of data protection becoming an increasing priority.

Cybersecurity 76

Cybersecurity Encryption Data Breach Breach 76

PYMNTS

MAY 22, 2017

In early May, approximately 300,000 computer systems in more than 150 countries were compromised by the WannaCry cyberattack. Hacking and cyber threats like ransomware are hardly new phenomena. The WannaCry ransomware attack reached institutions and agencies across borders. s National Health Service.

Regulations 46

Regulations Authentication Ransomware Money Laundering 46

PYMNTS

NOVEMBER 25, 2016

“Despite all of our attempts at locking down the various ways somebody could attack applications, like a website we are using for eCommerce or a point-of-sale system, one of the major methods that people are using to cause a data breach is with legitimate credentials,” Stolte explained.

Cybersecurity 76

Cybersecurity Credential Security Ransomware 76

PYMNTS

APRIL 30, 2018

lawmakers about how his company can better protect its users’ data following the Cambridge Analytica breach. Understanding these parameters can help businesses further understand the impact that a potential security incident — such as a data breach or theft — could bring. The Need for Greater GDPR Compliance.

Rules 47

Rules Authentication Breach Compliance 47

PYMNTS

JULY 28, 2017

BKK apparently pays about $1 million per year for T-Systems to maintain its IT infrastructure, which was so easily compromised by a data breach. Neither the BKK nor T-Systems took any responsibility for the bugs, claiming that there was nothing wrong with the system and that all holes in the software had been patched.

Cybersecurity 44

Cybersecurity Data Breach Law Enforcement Breach 44

VISTA InfoSec

NOVEMBER 7, 2023

Ransomware : Malicious software that encrypts a user’s data, demanding payment in exchange for the decryption key. Identify areas most vulnerable to breaches and prioritize them for MFA integration. Brute force attacks : Cyber attackers use trial-and-error methods to guess login credentials, exploiting weak passwords.

Authentication 130

Authentication MFA Cybersecurity Credential 130