PYMNTS

MARCH 20, 2020

Banking technology FinTech Finastra was hit with a security breach on Friday (March 20), and was forced to shutter key systems and send employees home, according to a report by KrebsonSecurity. We wish to inform our valued customers that we are investigating a potential security breach. At 3:00 a.m.

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Ransomware FinTech Breach Cybersecurity 110

PYMNTS

MARCH 26, 2020

Cybersecurity insurance company Chubb , which provides aid to companies affected by data breaches, has been hit by one itself, according to a report by TechCrunch. Jeffrey Zack, a spokesperson for the company, said there was “no evidence” that the breach had hit the company’s own network, adding that it was “fully operational.”

Cybersecurity 68

Cybersecurity Data Breach Ransomware FBI 68

PYMNTS

OCTOBER 29, 2020

A ransomware attack has infiltrated the healthcare system and affected five hospitals, the Associated Press (AP) reported. According to the alert, “malicious cyber actors” are targeting the sector with Trickbot malware, which is typically a precursor to ransomware attacks and data theft. hospitals and healthcare providers.”.

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Ransomware FBI Cybersecurity Credential 56

Fintech News

JUNE 3, 2024

Despite its rapid growth, the APAC region remains the second smallest cyber insurance market globally, S&P Global says, a statement that aligns with findings of a Moody’s survey which revealed strong cybersecurity oversight among APAC players compared to global counterparts. trillion annually by 2025.

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Ransomware APACS Cybersecurity AI 95

VISTA InfoSec

JUNE 19, 2024

Malware and Ransomware Malware and ransomware are significant threats in the realm of video communication, with attackers leveraging these tools to compromise devices and networks. Ransomware, a type of malware, is particularly destructive as it encrypts the victim’s data and demands a ransom for its release.

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Risk Ransomware Phishing MFA 277

PYMNTS

JULY 19, 2020

France-based telecom company Orange reported that a ransomware attack had compromised the data of 20 enterprise customers on one of its servers, according to news site teiss. On July 4, hackers announced they’d used Nefilim Ransomware to access the Orange server, gaining data on the company’s Orange Business Solutions division.

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Ransomware Phishing Encryption Data Breach 60

The Fintech Times

JULY 30, 2024

The cost of data breaches has been on a steady incline for the past decade. However, evidence from IBM , a multinational tech firm, suggests that in the next 10 years, breaches could cost a lot more as we just experienced the highest year-on-year jump in cyber attacks (10 per cent).

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Data Breach Breach AI Law Enforcement 57

VISTA InfoSec

OCTOBER 21, 2024

The importance of cyber security for SMEs As small and medium enterprises (SMEs) often become prime targets for cyber attacks, resulting in significant financial losses and data breaches, the importance of cyber security can’t be emphasized enough. What are the most common cyber security threats for SMEs?

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Security Phishing Ransomware Risk Assessment 130

EBizCharge

OCTOBER 25, 2023

Now more than ever, businesses are focusing on preventing data breaches and implementing response protocols to mitigate breaches if they occur. According to the 2023 IBM Data Breach Report , the global average cost of data breaches was $4.45 What are data breaches?

Best Practices 52

Best Practices Data Breach Breach Phishing 52

VISTA InfoSec

JUNE 7, 2024

As businesses become more digital, their vulnerability to cybersecurity threats like data breaches and ransomware attacks also rises. These extra-strict access controls reduce a company’s risk of data breaches and other costly security issues. How Will a ZTNA Solution Benefit Your Company?

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Micro-Entry Data Breach Breach Cybersecurity 162

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.

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Ransomware Cybersecurity Compromise Security 60

PYMNTS

OCTOBER 12, 2020

With over 5,000 cybersecurity vendors in the U.S. But that problem could be a thing of the past thanks to the launch of the world’s first B2B cybersecurity marketplace that enables buyers to easily search, compare pricing and purchase the right IT solution in one place.

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Cybersecurity B2B Email Compromise Business Email Compromise 83

PYMNTS

DECEMBER 23, 2019

Mastercard is purchasing artificial intelligence (AI) and analytics startup RiskRecon to accelerate the development of cybersecurity solutions, Mastercard announced on Tuesday (Dec. Data breaches and ransomware attacks jeopardize customers’ records and trust. The transaction is expected to close in the first quarter of 2020.

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Cybersecurity Visa Ransomware Data Breach 55

PYMNTS

APRIL 12, 2019

Nearly one year since GDPR came into effect, there remain uncertainties about issues like accountability in cases of data breaches at data sharing partners. Clearly, the threat of a data breach remains strong, and Norton warned it will persist as other jurisdictions begin to implement their own data protection rules.

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Cybersecurity Data Breach Breach Legal Framework 77

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. Yet small businesses rarely have the resources to pay and survive fines of thousands or even millions of dollars.

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Small Business Cybersecurity Ransomware Compromise 78

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. Paying the ransom almost certainly results in a loss of some of the data.

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Ransomware Data Security Data Breach Breach 113

The Fintech Times

APRIL 11, 2024

The Egress report highlights organisations’ evolving cybersecurity challenges, particularly involving phishing attacks, and has sparked concern among industry experts and cybersecurity leaders. This will ultimately safeguard critical data and reduce the impact on individuals and organisations.

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Phishing Cybersecurity Compromise Ransomware 67

PYMNTS

AUGUST 12, 2019

Cyber insurance claims are spiking as a new type of ransomware targets companies across the U.S. Ransomware groups tend to target people in the Anglosphere, who are seen as able to pay and deserving of what they get. The full financial cost of a data breach can last two or three years.

Ransomware 72

Ransomware Data Breach On-Demand Service Provider 72

The Fintech Times

MAY 5, 2024

It hopes to do so with newly integrated features that build in loss prevention at no extra cost for policyholders: Breach & Attack Simulation (BAS): Resilience’s BAS tests enable organisations to validate security controls against up-to-date threat actor tactics and real-world techniques.

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Risk Mitigation Mitigation Risk Ransomware 67

PYMNTS

JULY 30, 2019

Most recently, a string of ransomware attacks hit local government entities that ultimately decided to pay off the attackers to regain access to computers. Analysts warned that local and state-level governments, much like small businesses, often lack the sophisticated cybersecurity technology required to avoid such attacks in the first place.

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Data Breach Small Business Breach Ransomware 64

PYMNTS

APRIL 28, 2017

Ransomware incidents have risen 50 percent over the last year according to Verizon, who just recently released the 2017 edition of their Data Breach Investigations Report detailing the latest trends and information on cybersecurity threats. Retail and accommodation combined to account for 15 percent of breaches.

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Ransomware Data Breach Breach Cybersecurity 46

The Fintech Times

FEBRUARY 9, 2024

AI-enhanced attacks are on the rise, leaving many organisations’ cybersecurity unprepared for the volume of new challenges; reveals cyber protection firm, Acronis , in its latest cyber threats report. The post 91.1% of Organisations Impacted by AI-Enhanced Phishing Attacks, Acronis Reports appeared first on The Fintech Times.

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Phishing AI MSPS Ransomware 70

PYMNTS

JULY 28, 2017

With ransomware cyberattacks raging, companies and individuals have paid out more than $25 million during the course of the last two years in an effort to get their data back from hackers. To assess the costs of the cybersecurity breaches, the researchers used reports from victims, among other analysis, the report noted.

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Ransomware Cybersecurity Breach Research 40

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 57

Risk Cybersecurity Data Breach Ransomware 57

PYMNTS

DECEMBER 22, 2016

Corporates large and small are “naïve” about their cybersecurity risks, according to a new report. That’s despite 80 percent of CEOs expressing confidence in existing cybersecurity strategies. Meanwhile, 20 percent cited a lost device for the cause of a breach. companies’ cybersecurity measures.

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Cybersecurity Research Phishing Breach 68

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).

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Ransomware Data Breach Cybersecurity Breach 39

PYMNTS

DECEMBER 7, 2018

As well, if lawmakers and regulators are taking aim at Google and Facebook, that indicates that smaller members of the digital food chain are fair game, too, if they suffer a breach that catches the public’s attention. You have to have a comprehensive approach to cybersecurity.”. Upon first glance, the picture is pretty dim.

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Cybersecurity Payments Privacy Breach 96

PYMNTS

FEBRUARY 20, 2019

Cybersecurity experts are urging small business (SMB) owners to not ignore the risks they face from cyberattacks. The service includes educational materials as well, like training videos and guidance on internal cybersecurity policy development. In a press release on Tuesday (Feb. In a press release on Tuesday (Feb. Education Is Key.

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Cybersecurity Visa Data Breach Small Business 56

PYMNTS

APRIL 29, 2019

To those who understand the importance of cybersecurity, and the monumental risks that growing cyberthreats impose on organizations, safeguarding systems and data may be assumed to go hand in hand with digital transformation. ” Taking Action. ” Taking Action. They’re reusing the same passwords.

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Cybersecurity Ransomware Data Breach Non-Bank 74

CB Insights

MARCH 27, 2019

Cybersecurity is a hot topic today. Already this year, at least 30 organizations — including coffee chain Dunkin’ and cloud provider Rubrik — experienced major data breaches. Future of Cybersecurity: Trends & Startups To Watch. Future of Cybersecurity: Trends & Startups To Watch.

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Cybersecurity Encryption Data Breach Breach 76

PYMNTS

AUGUST 10, 2018

The Professional Golfers Association (PGA) of America has been hit with ransomware, with cybercriminals demanding a payment in bitcoin to a specific wallet address. The ransomware caused Atlanta’s courthouse documents, and services like payment processing, to become inaccessible.

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Ransomware Law Enforcement Encryption FBI 40

Finovate

JUNE 10, 2024

Austin, Texas-based cybersecurity firm SpyCloud has raised $35 million in funding. In a round led by CIBC Innovation Banking, Texas-based cybersecurity company SpyCloud has secured $35 million in growth funding. SpyCloud won Best of Show in its Finovate debut at FinovateFall 2017 in New York.

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Account Takeovers Credential Cybersecurity Breach 59

PYMNTS

MAY 20, 2016

It wouldn’t be the end of the business week in the payments industry if there weren’t another batch of news items relating to cybersecurity, data breaches and hackers. That, and much more in today’s Daily Data Dive 5-in-1: Ransomware Creator Calls It Quits. $1 LinkedIn’s Data Breach Scope.

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Breach Data Breach Ransomware Bitcoin 42

PYMNTS

APRIL 28, 2017

was the number one target for ransomware last year. To start, ransomware threats escalated globally through 2016 in size, number and kind. Likewise, they registered a 36 percent increase in ransomware attacks globally in the same period. It’s no surprise, then, that the written amount of ransomware has gone up and that the U.S.

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Ransomware End User Crime Authentication 62

The Fintech Times

JANUARY 26, 2024

New cybersecurity measures do not completely stop crime – they only slow it down. Speaking on the findings, Michael Bruemmer , vice president, global data breach resolution at Experian said: “Cybercriminals are continually working smarter, not harder. . They must be more aware of what global interests may make them a target.”

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Data Breach Breach Crime Ransomware 57

VISTA InfoSec

NOVEMBER 7, 2023

What is Cybersecurity? Put simply, cybersecurity is any security system that protects our digital assets. 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.

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Authentication MFA Cybersecurity Credential 130

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