PYMNTS

MAY 2, 2019

Organizations are ramping up cybersecurity investments in response to the ever-climbing threat of data breaches and cyberattacks. But all the money in the world to secure an organization’s back office won’t necessarily help safeguard all company data. million business email compromise scam.

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

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

MARCH 28, 2018

Less obvious, however, is the financial impact of data breaches, content abuse and similar cases. ” The multibillion-dollar losses incurred by Facebook “because of that breach in trust” are proof that content abuse and data breaches have clear financial impacts. Compromise Security For Customer Experience.

Security 44

Security Data Breach Account Takeovers Breach 44

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

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

APRIL 10, 2019

The Association of Financial Professionals released new data this week that revealed the threat of payments fraud continues to climb, particularly for large enterprises, as scams like ACH fraud and the Business Email Compromise climb to record levels. But the latest analysis of U.S. But the latest analysis of U.S.

Risk 54

Risk Risk Mitigation Risk Management Data Breach 54

PYMNTS

JUNE 26, 2018

High-profile data breaches and attacks have catapulted cybersecurity to the top of executives’ priority lists, and investments in cybersecurity solutions are soaring: The 2018 Harvey Nash/KPMG CIO Survey found businesses surveyed spend a combined $46 billion on cybersecurity every year. ”

Cybersecurity 43

Cybersecurity Data Breach Breach Email Compromise 43

PYMNTS

APRIL 9, 2018

The high-profile data breach that hit Saks and Lord & Taylor was already eclipsed just days later when news of possible similar attacks at Best Buy, Delta and others hit headlines. Despite the billions of dollars that businesses spend to safeguard their systems, data breaches continue to occur.

Data Breach 49

Data Breach Breach Cybersecurity Phishing 49

PYMNTS

SEPTEMBER 14, 2020

Blackbaud's data breach isn't unique, per se. Particularly as cyberattacks rise in frequency as a result of malicious actors looking to capitalize on pandemic-related fears, organizations of all kinds will continue to face the threat of ransomware, the business email compromise and other types of attacks.

Breach 52

Breach Multifactor Authentication Ransomware Email Compromise 52

PYMNTS

JANUARY 30, 2017

This week’s data digest is all about, well, data. 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.

Data Security 54

Data Security Governance Government Data Breach 54

PYMNTS

JUNE 23, 2016

The impact from a data breach on an enterprise can be a mixed bag. For some, like small suppliers, a compromise of sensitive data and credentials can lead to a few hundred or thousand dollars fraudulently obtained from a business client, often via the Business Email Compromise scam.

Cybersecurity 40

Cybersecurity Assessments Data Breach Breach 40

PYMNTS

FEBRUARY 6, 2019

The same can be said for cybersecurity expertise, particularly as corporate finance and accounting departments become larger targets for cyberattacks like the business email compromise or data breaches.

Accounts 74

Accounts Finance On-Demand Automation 74

PYMNTS

FEBRUARY 16, 2018

The business email compromise scam saw an increase of 10 percent during those two years. Reports last year from the Association for Financial Professionals found 75 percent of businesses surveyed said they had fallen victim to check fraud in 2017, up from 71 percent in 2015.

Email Compromise 40

Email Compromise Debit Card Credential Scams 40

PYMNTS

JANUARY 23, 2017

Its latest analysis, released in conjunction with the Identity Theft Resource Center, found an all-time-high number of data breaches, with 1,093 incidents recorded in 2016. But researchers questioned whether the increase is due to more breaches or simply more publicly available data on the topic.

Risk 43

Risk AFP Identity Theft Email Compromise 43

PYMNTS

JUNE 14, 2018

Identity theft is an unfortunately reality for more consumers as data breaches continue to rock the market. Research from Auriemma Consulting Group estimates that identity theft has cost banks at least $6 billion, and cost consumers $58.9 million, in 2016 alone. with more than 16,800 victims recorded in 2016. What to Do About It.

Identity Theft 43

Identity Theft Wire Transfer Crime Email Compromise 43

PYMNTS

MAY 12, 2017

This consumer concern translates to a decrease in confidence in large organizations—which is then exacerbated by data breaches and other security events. FBI Sees Wire Fraud Via Email Grow In 2016. “When consumers can’t open a bank account or access government services online without feeling anxiety, we’ve got a problem.”.

Business Email Compromise 51

Business Email Compromise Phishing ATM FBI 51

PYMNTS

DECEMBER 24, 2018

He described this as a “group of both business email compromise , BEC as it’s called, or CEO fraud.”. There may be light at the end of the tunnel, though, through the advancements of technology – and specifically, through Big Data and artificial intelligence. So beware, or at least view skeptically, what is in your inbox.

Financial Crimes 65

Financial Crimes B2B Real Time Payments Crime 65

PYMNTS

MARCH 1, 2017

Reports in Security Intelligence covering Google’s findings highlight that the conclusions aren’t “unusual,” considering the sensitive corporate data that can be found in an employee inbox — information, the publication noted, that can go for big bucks on the dark web.

Cybersecurity 48

Cybersecurity Phishing Email Compromise Scams 48

PYMNTS

NOVEMBER 6, 2017

In September, the consumer credit agency Equifax reported that the personal information of roughly 143 million Americans was compromised in a data breach of epic proportions. Meanwhile, the recently released PYMNTS Global Fraud Index , produced in collaboration with Signifyd, found that instances of global fraud increased by 5.5

FS-ISAC 47

FS-ISAC Cybersecurity Account Takeovers NACHA 47

PYMNTS

MAY 5, 2017

It’s been a big week in the broader cybersecurity realm, starting with a data breach of Sabre Corporation’s hospitality unit. Verizon released its Data Breach Investigations Report which found, among other things, that ransomware attack rates had risen by 50 percent in the past year. But that’s not all.

Breach 45

Breach Business Email Compromise Data Breach Cybersecurity 45

CB Insights

JULY 23, 2020

Past incidents from biotech and genealogy companies have dampened public trust in the privacy of health data. 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.

Posting 101

Posting Cybersecurity Returns Online and Mobile Banking 101