PYMNTS

FEBRUARY 28, 2019

Cyberthreats exist throughout supply chains and business networks, and one supplier that experiences a data breach can result in the exposure of sensitive corporate data at businesses other than that supplier itself. which suffered a data breach last year as the result of a cybersecurity incident at a third-party vendor.

Risk 65

Risk Data Breach Third Party Vendors Cybersecurity 65

PYMNTS

APRIL 18, 2017

At a minimum, you need [cyber]insurance,” along with monitoring of third party vendors. If the financial firms are unable to assess their own vulnerabilities and the enterprises are similarly in the dark, then reporting to regulators about breaches and attempted breaches (also mandated) cannot be done on a timely basis.

Cybersecurity 66

Cybersecurity Third Party Vendors Breach Regulations 66

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

The Paypers

FEBRUARY 22, 2021

has announced it was among the victims of a data breach involving a third-party vendor’s file-transfer service.

Data Breach 28

Data Breach Breach Third Party Vendors 28

FICO

AUGUST 4, 2020

This information is used to train a machine learning model that produces a risk score that forecasts the likelihood of a future breach event for a given company or its third-party vendors. Learn more about the combined capabilities delivered by this partnership by visiting [link]. . by Manish Karir.

Risk 52

Risk Third Party Vendors Risk Assessment Security 52

PYMNTS

NOVEMBER 15, 2016

Free data storage services, the report said, may be an irresponsible choice for SMEs, though the report also found that, regardless of the security of the cloud data storage service, employee mistakes are often to blame for data breaches at SMEs. NIST, operating under the U.S. Others, however, are more behavioral.

Security 76

Security Cybersecurity Small Business Third Party Vendors 76

PYMNTS

AUGUST 13, 2018

“The FBI has obtained unspecified reporting, indicating cybercriminals are planning to conduct a global Automated Teller Machine (ATM) cash-out scheme in the coming days, likely associated with an unknown card issuer breach and commonly referred to as an ‘unlimited operation,’” the letter read, according to the report.

FBI 58

FBI ATM Scams Third Party Vendors 58

Finovate

SEPTEMBER 4, 2024

.” Third party risk management is a hotter topic than ever in today’s banking and fintech landscape, especially as the number of banks hit with consent orders rises due to regulatory breaches and compliance issues.

Risk Management 59

Risk Management Risk Acquirers Due Diligence 59

PYMNTS

MARCH 6, 2017

In 2016, there were 1,093 data breaches according to the Identity Theft Resource Center – a 40% increase over the 2015 data breach number of 781. Malware was the culprit in the multi-million-dollar Home Depot, Target, Wendy’s and PF Chang’s breaches. Malware and its Role in Data Breaches.

Data Breach 47

Data Breach Third Party Vendors Encryption Identity Theft 47

PYMNTS

OCTOBER 25, 2018

after the Information Commissioner’s Office ( ICO ) ruled that the social media network operator was engaged in “serious breaches of data protection.” The data, which was processed from 2007 through 2014, was accessible to developers of third-party vendors without the Facebook users providing consent.

Third Party Vendors 53

Third Party Vendors Privacy Breach Agreements 53

The Fintech Times

DECEMBER 11, 2023

. “Identity providers will also continue to be targeted, with modern defensive postures being able to bypass controls like multi-factor authentication while threat actors will continue to target third-party vendors to scale their attacks. In fact, our claims data has shown a significant increase in this activity.

Cybersecurity 107

Cybersecurity Ransomware Authentication AI 107

PYMNTS

AUGUST 4, 2017

businesses and organizations saw a 40 percent increase in data breaches , bringing its total to 1,093 reported incidents. Just recently, BioCatch won a patent to help detect remote hacker tools with the hopes of catching breaches before they occur. In 2016 alone, U.S.

Posting 44

Posting Consumer Data Breach Third Party Vendors 44

The Fintech Times

JUNE 20, 2024

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. However, data breaches constitute only one facet of the risks confronting firms.

Risk 59

Risk Cybersecurity Data Breach Ransomware 59

PYMNTS

JUNE 20, 2019

Between data breaches exposing customer details and card information and the rise of card-not-present fraud as operations move online, digital businesses are challenged to stay abreast of payment security trends — and fraud is a massive issue for firms large and small.

B2B 73

B2B Fraud Detection Third Party Vendors Payments 73

PYMNTS

MAY 15, 2017

The challenge thus has become one where cybersecurity is not just centered on what must be done internally to protect a company and its customers, said Woodbury, but also to determine how third-party interaction with data is regulated. .

Cybersecurity 43

Cybersecurity Risk Disaster Recovery Risk Management 43

The Payments Association

NOVEMBER 12, 2024

Financial criminals are exploiting digital advancements and deploying sophisticated tools like AI to breach systems, pressuring financial institutions (FIs) to respond with equally advanced defences. The stakes are high. Nasdaq’s 2024 Global Financial Crime Report highlights the urgency, estimating that $3.1 billion in losses in 2023 alone.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention Compliance 88

Nanonets

MARCH 22, 2023

Organizations dealing with sensitive financial data may be hesitant to use a third-party vendor for their AP processes. So if the provider faces challenges such as security breaches or even bankruptcy, then your company processes could come to an abrupt standstill. Hence they might want to consider AP Automation instead.

Accounts 52

Accounts Duplicate Automation Privacy 52

PYMNTS

JULY 31, 2017

Regulators have reportedly informally reached out to the attorneys involved in the lawsuit underlying the release of information to figure out how the data breach happened. We have a huge responsibility and fell short of our ideals for managing and providing oversight of the third-party vendor and our own operations,” Franklin R.

Payment APIs and Integration 40

Payment APIs and Integration Third Party Vendors Cybersecurity Data Breach 40

CB Insights

JUNE 6, 2019

Altrec: Outdoor gear retailer left in the cold after security breach. data records were compromised in the first half of 2018 alone, according to the Breach Level Index, highlighting the importance of adequate digital security measures. Founded: 1997. Declared Bankruptcy: 2014. Total Funding: $5.3M. More than 4.5B

Breach 78

Breach On-Demand Product Acquirers 78

PYMNTS

AUGUST 20, 2018

“The FBI has obtained unspecified reporting, indicating cybercriminals are planning to conduct a global Automated Teller Machine (ATM) cash-out scheme in the coming days, likely associated with an unknown card issuer breach and commonly referred to as an ‘unlimited operation,’” the letter read, according to the report.

FBI 40

FBI Zelle ATM Credit Cards 40

PYMNTS

AUGUST 20, 2018

“The FBI has obtained unspecified reporting, indicating cybercriminals are planning to conduct a global Automated Teller Machine (ATM) cash-out scheme in the coming days, likely associated with an unknown card issuer breach and commonly referred to as an ‘unlimited operation,’” the letter read, according to the report.

FBI 40

FBI Zelle Credit Cards ATM 40

Nanonets

SEPTEMBER 25, 2024

  Limiting access to only authorized personnel, implementing Multi-Factor Authentication (MFA), and employing data masking techniques reduce the risk of data breaches.  Third-party vendor management When working with external vendors, vet their security protocols and compliance measures to ensure they meet industry standards.

AI 52

AI Process Best Practices Reconciliation 52

CB Insights

JULY 23, 2020

For example, in 2018, 23andMe entered a $300M deal to sell data to drug giant GlaxoSmithKline, while in 2019, MyHeritage experienced a data breach that exposed details from 92M+ accounts. Companies who commit to cybersecurity investment stop more attacks, find and fix breaches faster, and are able to reduce the impact of those breaches.

Posting 101

Posting Cybersecurity Returns Online and Mobile Banking 101

PYMNTS

FEBRUARY 12, 2019

The case highlights the risks and challenges companies face in not only vetting their suppliers, but vetting their suppliers’ suppliers, with third-party vendors a potential source of non-compliance for importers. The 156 shipments could have yielded a maximum fine of more than $40.8 million, reports said, but e.l.f.

Settlement 43

Settlement Compliance Risk OFAC 43