PYMNTS

NOVEMBER 15, 2018

15) the results of the third annual Ponemon Institute’s “Data Risk in the Third-Party Ecosystem” study, which found that 59 percent of companies surveyed said they have experienced a data breach caused by their vendors or third parties. Opus said that in the U.S.,

Data Breach 78

Data Breach Breach Risk Risk Management 78

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

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 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

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

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

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

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

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

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

OCTOBER 12, 2017

Companies that are poorly rated are five-and-a-half times more likely to be breached than those with a relatively high rating of “A” or “B.” The granular info gleaned can delve into risks, such as using out-of-date (and thus vulnerable) software to create documents or whether a firm’s site is configured to combat denial of service attacks.

Third Party Vendors 65

Third Party Vendors Security API Risk 65

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

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

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

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

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

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 139

Cybersecurity Ransomware Authentication AI 139

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

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