PYMNTS

NOVEMBER 28, 2018

They also lack the finances to train staff, adopt cybersecurity technology, and implement sophisticated expertise to protect data. While small and mid-sized businesses (SMBs) must be diligent about data protection and cybersecurity, the professors suggest regulators design legislation proportionate to the size of the business.

Small Business 78

Small Business Cybersecurity Ransomware Compromise 78

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.

Cybersecurity 83

Cybersecurity B2B Email Compromise Business Email Compromise 83

PYMNTS

JUNE 27, 2017

Wealthy countries with developed financial and payment infrastructures are most likely to have their data encrypted and held for ransom by cybercriminals, according to a recent report by global cybersecurity company Kaspersky Lab. Following a slight reprieve, 2017’s Q1 saw 218,625 mobile Trojan-Ransomware installation packages – 3.5

Ransomware 72

Ransomware Data Encryption Best Practices Cybersecurity 72

VISTA InfoSec

JUNE 7, 2024

It thus evaluates every new access individually to account for the possibility that previously authorized users have been compromised or organizational policies have changed. As businesses become more digital, their vulnerability to cybersecurity threats like data breaches and ransomware attacks also rises.

Micro-Entry 162

Micro-Entry Data Breach Cybersecurity Breach 162

PYMNTS

NOVEMBER 2, 2020

Securities and Exchange Commission (SEC) Chairman Jay Clayton said corporate America needs to be more proactive about cybersecurity, warning that the threat of cyberattacks will continue, CNBC reported. Speaking on CNBC's “Power Lunch,” Clayton said cybersecurity risks compounded on the pandemic and the U.S. presidential election.

Cybersecurity 84

Cybersecurity Credential Compromise Ransomware 84

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. Moreover, The Information Commissioner’s Office has sounded the alarm, urging organisations to bolster their cybersecurity defences. So what can firms do to better mitigate this risk?

Risk 59

Risk Cybersecurity Data Breach Ransomware 59

PYMNTS

MARCH 22, 2016

When it comes to bitcoin, the stories about ransomware seem to be nothing out of the ordinary for the mainstream news cycle. But this time, the case is a bit more serious as it has to do with hackers using bitcoin ransomware to lock out local government employees from their own computers. The result? million in losses for victims.

Ransomware 0

Ransomware Bitcoin Law Enforcement FBI 0

PYMNTS

OCTOBER 23, 2019

Firedome, a New York- and Tel Aviv-based cybersecurity startup, has raised $10 million in a Series A funding round with investment from Two Sigma Ventures, Silvertech Ventures and World Trade Ventures. . We strongly believe that real-time endpoint cybersecurity is the inevitable future of the IoT security landscape.”.

Cybersecurity 40

Cybersecurity Ransomware Compromise Security 40

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.

Cybersecurity 56

Cybersecurity Visa Data Breach Small Business 56

PYMNTS

OCTOBER 9, 2020

Leigh Reichel , new chief financial officer of cybersecurity firm INKY Technology Corp. Ransomware And Malware. Department of the Treasury’s Office of Terrorism and Financial Intelligence last week issued a pair of ransomware alerts. Business Email Compromise. billion a year — and that seems to be growing. “We

B2B 116

B2B Phishing Scams Ransomware 116

PYMNTS

SEPTEMBER 30, 2019

Visner of the National Cybersecurity Federally Funded Research and Development Center (FFRDC) — managed by nonprofit MITRE , in support of the NIST National Cybersecurity Center of Excellence — told Karen Webster that cybersecurity threats to institutions and enterprises exist at several levels. Unseen and possibly unknown.

Cybersecurity 65

Cybersecurity Credential Encryption Phishing 65

PYMNTS

AUGUST 21, 2018

organizations fall victim to ransomware attacks every minute — and more than $1 million is lost each minute due to cybercrime. “These attackers target brands and consumers on the open web with tactics like phishing, spinning up malicious mobile apps, hacking third-party suppliers and directly compromising websites.”

Ransomware 53

Ransomware Phishing Compromise Credit Cards 53

PYMNTS

JULY 22, 2019

Last month, the city of Riviera Beach, Florida, was crippled by a ransomware attack that led to it paying a hefty sum to recover government systems. Just days later, it happened again: another Florida city, Lake City, confirmed to reporters that it had been compromised by a ransomware attack and agreed to pay the ransom to regain control. .

Governance 58

Governance Government Ransomware Compromise 58

CB Insights

MARCH 27, 2019

Cybersecurity is a hot topic today. Future of Cybersecurity: Trends & Startups To Watch. Future of Cybersecurity: Trends & Startups To Watch. Learn about active cyber defense strategies and what they mean for the future of enterprise cybersecurity. Most recently, Dow Jones saw over 2.4M

Cybersecurity 76

Cybersecurity Encryption Data Breach Breach 76

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

MAY 17, 2017

If you’re one of the many, many companies recently targeted by WannaCry , you’ve just been handed a harsh reality check in the importance of enterprise cybersecurity. Maybe you had ignored previous warnings or felt cybersecurity technology was unnecessary. Or maybe you actually had cybersecurity measures in place that failed.

Cybersecurity 49

Cybersecurity AI Ransomware Phishing 49

PYMNTS

JUNE 29, 2020

Launched in the Ukraine a decade ago, the internet-based cybercriminal enterprise stole identities, compromised debit and credit cards and personal, financial and banking information and spread computer malware, the Justice Department’s Criminal Division said in a statement. In April, a joint study by the U.S. and the United Kingdom.

Ransomware 80

Ransomware Credit Cards Digital Currency Compromise 80

PYMNTS

JANUARY 13, 2020

The currency exchange company continues in the grips of a ransomware attack that has crippled its operations, as well as the foreign currency operations of its corporate clients, including HSBC and Barclays. This week, cybersecurity publication Naked Security reported that $6 million was stolen from a New York company via invoice fraud.

B2B 89

B2B Wire Transfer Cybersecurity FBI 89

PYMNTS

AUGUST 8, 2018

Warnings from the Federal Bureau of Investigation have enterprises worried about cybersecurity — specifically, concerns about ransomware attacks. Business Email Compromise scams continue to grow and steal more corporate money than ever before. Compare that to ransomware, which made up just 11 percent.

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44

PYMNTS

JANUARY 20, 2017

In this week’s Hacker Tracker , Radware shares its global cybersecurity research on what’s really motivating cybercriminals, a Gmail phishing attack targets savvy users and the U.S.’s After gaining access to a compromised account, the criminals begin gathering information in order to launch secondary attacks across the victim’s network.

Phishing 45

Phishing Ransomware EMV CHIPS 45

PYMNTS

MAY 5, 2016

FBI Cyber Division Assistant Director James Trainor is telling businesses that, though ransomware attacks are on the rise, it’s best not to pay hackers when the situation arises. Though WSJ said Trainor expressed his sympathies to those companies that do become victims of ransomware attacks, paying the ransom only serves as an incentive.

FBI 41

FBI Ransomware Cybersecurity Encryption 41

PYMNTS

JUNE 1, 2020

Google issued a stark warning last week about the state of cybersecurity: Phishing attacks are on the rise and continue to take advantage of vulnerabilities resulting from the global pandemic. The warning coincided with separate reports related to Google and cybersecurity. Taking into account the estimated 30.2

Phishing 59

Phishing Continuity Data Breach Cybersecurity 59

PYMNTS

OCTOBER 15, 2018

AG Frosh’s warning pertained to a specific small-business cybersecurity threat. It’s a twist on the business email compromise (BEC) scam that typically involves scammers emailing business owners and seeking payment via wire transfer, ACH or paper check. 133,000: the average cost of a ransomware attack on a small business.

Ransomware 77

Ransomware Online and Mobile Banking Scams Small Business 77

PYMNTS

JUNE 23, 2017

Last month’s global ransomware attack WannaCry dominated real estate on every major tech website, including PYMNTS. In the vein of ransomware attacks that crippled the National Health System earlier this year, the University College attack locked campus computer systems and threatened to install damaging software if users didn’t pay up.

Ransomware 65

Ransomware Cybersecurity Central Bank Risk 65

PYMNTS

NOVEMBER 30, 2020

The SEC put out various alerts over the entirety of the pandemic on the danger of the attacks, warning various sizes of businesses about ransomware attacks affecting broker dealers and investment advisors as well as credential compromises taking peoples' login information and exposing private information.

Business Email Compromise 116

Business Email Compromise Addressing Scams Ransomware 116

PYMNTS

APRIL 30, 2018

With a threefold increase in the number of corporates who had been hit by a ransomware attack in the last year compared to a year prior, corporate treasurers have been forced to swallow the large, uncomfortable pill of the threat of cyberattacks and fraud on their organizations in a short amount of time. “There is a lot more to be done.”

Email Compromise 59

Email Compromise Treasury Ransomware Wires 59

PYMNTS

AUGUST 10, 2016

Computer hacks of corporate systems are on the rise, and while KPMG found 80 percent of organizations have confirmed their systems have been hacked, only half spend the money and time to invest in cybersecurity. Ransomware happens when a hacker hijacks a company’s servers and holds all the data ransom. cyber practice, in an interview.

Ransomware 42

Ransomware Cybersecurity Value Added Service Compromise 42

PYMNTS

MAY 2, 2019

Organizations are ramping up cybersecurity investments in response to the ever-climbing threat of data breaches and cyberattacks. The company commissioned Spiceworks to survey 600 security and IT leaders about their biggest concerns and areas of focus in supply chain cybersecurity. million business email compromise scam.

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

PYMNTS

MAY 19, 2017

Last weekend, a major ransomware attack affected more than 200,000 computers in 150 countries across the globe. It is unusual for ransomware to have network worm capabilities,” Douthwaite said. “Right now there is no clear indication of the first compromise for WannaCry,” said Budiman Tsjin of RSA Security, a part of Dell.

Ransomware 46

Ransomware Cybersecurity Bitcoin On-Demand 46

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

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. By comparison, phishing scams usually bring in between $300 – $500, while ransomware attacks cost around $4,400.

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

OCTOBER 1, 2020

Mitiga is working with law enforcement after uncovering a widespread business email compromise (BEC) scam that has netted more than $15 million. According to a PYMNTS report, there were 33 percent more ransomware payments made by businesses during the first quarter of 2020.

Business Email Compromise 73

Business Email Compromise Scams Email Compromise Wire Transfer 73

The Fintech Times

JULY 30, 2024

Other key findings in the 2024 Cost of a Data Breach Report At 16 per cent, stolen/compromised credentials was the most common initial attack vector. By bringing in law enforcement, ransomware victims saved on average nearly $1million in breach costs compared to those who didn’t – that savings excludes the ransom payment for those that paid.

Data Breach 59

Data Breach Breach AI Law Enforcement 59

PYMNTS

FEBRUARY 24, 2020

41 percent more ransomware attacks were initiated last year , the New York Times reported, citing data from Emsisoft, with 205,280 businesses losing access to their data as a result. This week’s B2B Data Digest takes a look at the latest data points behind more cases of B2B payments fraud.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

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

MAY 15, 2017

Reuters and others reported that the ransomware infections that hit computers worldwide likely trace their genesis to the U.S. the shipping giant, said computers running Windows were compromised — and for the Windows impact, the fault may lie with variants of the “WannaCry” malware. Similarly FedEx Corp., Hospitals in the U.K.

Ransomware 40

Ransomware Law Enforcement Cybersecurity Government 40

PYMNTS

DECEMBER 30, 2016

What cybersecurity threats will impact corporate buyers and suppliers in 2017? 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