Fintech News

MAY 27, 2024

The Evolving Fraud Landscape APAC has seen a significant uptick in corporate data breaches, profoundly impacting fintech companies. As per IBM Security’s report, APAC bore the highest average cost of a data breach globally, averaging US$3.24 million in 2021.

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APACS FinTech Data Breach Fraud Prevention 111

PYMNTS

APRIL 3, 2018

Experts say an employee phishing scam is likely to blame for the data breach affecting millions of Saks Fifth Avenue and Lord & Taylor payment cards. Separate reports by the Associated Press also pointed to an email phishing scam as the likely culprit. The Canadian company noted it has commenced an investigation.

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Phishing Breach Data Breach Scams 51

Clearly Payments

MARCH 4, 2024

From large-scale data breaches to intricate schemes, fraudulent activities have left lasting marks on the financial landscape. Target Data Breach (2013) In the saga of payment processing fraud, few chapters loom as large as the Target data breach of 2013. Compromise of over 40 million credit card accounts.

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Phishing Data Breach Law Enforcement Money Laundering 59

PYMNTS

JANUARY 24, 2017

According to a report highlighting findings from the Identity Theft Resource Center and CyberScout, data breaches in the U.S. The financial services industry accounted for only 52 of the breaches tracked, or 4.8 For the eighth year in a row, hacking, skimming, and phishing were the main drivers of data breaches, representing 55.5

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Data Breach Breach Identity Theft Phishing 40

Fintech News

JUNE 10, 2024

Akira affiliates gain initial access by exploiting vulnerabilities, brute-forcing services like Remote Desktop Protocol (RDP), social engineering, and using compromised credentials. Reducing the amount of unnecessary data collected can lessen the impact of a data breach and decrease the resources needed for data protection.

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Ransomware Authorization Phishing Cybersecurity 91

PYMNTS

JULY 24, 2020

In a post on its website, Instacart said its investigation concluded the San Francisco-based company was not compromised. It appears that third-party bad actors were able to use usernames and passwords that were compromised in previous data breaches of other websites and apps to login to some Instacart accounts,” Instacart wrote. “In

Accounts 75

Accounts Compromise Data Breach Phishing 75

PYMNTS

JANUARY 27, 2017

As if Yahoo didn’t have enough on its plate, the tech company is now facing a probe from the Securities and Exchange Commission as to whether or not it could have acted more promptly in response to two massive data breaches that left over a billion customers’ information compromised. 2013 had compromised even more user data.

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Data Breach Breach Security Risk 71

PYMNTS

JANUARY 3, 2021

Customers whose call data has been compromised, even if their names haven't been obtained, are at heightened risk of attacks such as phishing by bad actors pretending to be mobile carriers. T-Mobile previously suffered a data breach in March.

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Law Enforcement Compromise Data Breach Phishing 85

PYMNTS

JUNE 28, 2016

As ZDNet reported , the company posted on its website that the sample of records it saw were “real and current,” but maintains that it was not hacked and that the data may have been stolen via phishing. It was reported that the login credentials of more than 32 million Twitter users were compromised.

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Data Breach Breach Credential Phishing 40

The Fintech Times

JUNE 20, 2024

Confronting modern cyber risks in financial services David Atkinson, CEO, SenseOn Entrusted with the personal data of billions, financial institutions face a relentless barrage of cyber threats, amplified by the proliferation of internet banking , mobile applications and instant payment systems.

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Risk Cybersecurity Data Breach Ransomware 59

Seon

SEPTEMBER 28, 2023

Verizon Business estimates that 74% of data breaches are down to individuals being absent-minded or tricked by social engineering attacks such as phishing emails. Reduce Fraud Rates by 70–99% Partner with SEON to reduce fraud in your business with real-time data enrichment, whitebox machine learning, and advanced APIs.

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Security Phishing Best Practices Data Breach 52

PYMNTS

FEBRUARY 12, 2020

Phishing/vishing/smishing/pharming, non-payment/non-delivery, extortion and personal data breaches were among the favored attack patterns last year. And in that top three, the FBI noted, BEC (sometimes called EAC, or email account compromise) was the absolute leader in generating losses, representing about $1.77

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Business Email Compromise FBI Email Compromise Scams 101

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. “Affected customers have already been informed by Orange teams, and Orange continues to monitor and investigate this breach.

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Ransomware Phishing Encryption Data Breach 60

Fintech News

JANUARY 17, 2024

Meanwhile, in a separate incident in Singapore, the cybersecurity landscape saw a significant surge in phishing attempts targeting local entities in 2022. Over 80 percent of these phishing campaigns mimicked banks or financial services, including institutions based in China, as well as local services like Singpass and SingPost.

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Deepfake APACS Scams Authentication 119

Payments Source

MAY 5, 2016

Fueled in part by an increase in phishing attacks with malware attachments in the past year, fraudsters took only minutes to compromise a network in 93% of breach incidents, according to Verizon's 2016 data breach investigations report.

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Data Breach Phishing Breach Compromise 61

Stax

MARCH 4, 2024

Taking precautions to implement security measures like firewalls and cybersecurity training helps to protect cardholder data and other sensitive information from cybercriminals. It’s also critical to ensure card information is protected from data breaches with secure encryption and cybersecurity standards in place.

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PCI DSS Payment Security Security MFA 88

PYMNTS

JANUARY 29, 2019

In its 2019 Data Privacy Benchmark Study, published last week, Cisco found that the combination of security best practices and investment in cybersecurity technology correlates to a lessened impact from data breaches.

Cybersecurity 59

Cybersecurity Data Breach Phishing Privacy 59

PYMNTS

JANUARY 24, 2020

A successful phishing attack is among many businesses’ worst fears. Phishing attacks often take one of two forms, Heath explained. The other major type of phishing email tricks users into downloading an attachment that installs malware on their computers. Knowing Is Half The Battle.

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Phishing Credential Best Practices Data Breach 52

PYMNTS

FEBRUARY 19, 2019

With a wealth of stolen credentials to pick from in the wake of several data breaches that comprised the identities of millions, fraudsters have more resources than ever. Overall, thanks to the rise in data breaches, merchants and FIs alike are dealing with a steep increase in fraud. Fraud is rampant and thriving.

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Identity Theft Data Breach Breach Verification 63

PYMNTS

FEBRUARY 3, 2020

Cybercriminals have more opportunities than ever to swipe debit card numbers and PINs from online consumers, and false websites, large-scale data breaches and skimming tools can compromise account information. Fraudsters are increasingly savvy, though, and retailers cannot afford to relax much. .

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Debit Card Assessments Data Breach Online and Mobile Banking 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.

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Data Security Governance Government Data Breach 54

PYMNTS

APRIL 11, 2017

But as Coupa is looking to make strategic acquisitions and strengthen its service offerings, the company hit a speed bump last month when the firm was hit by a data breach that exposed IRS W-2 payroll forms of its workers. “A Coupa had 652 employees as of the time the news of the data breach emerged.

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Data Breach Phishing Scams Breach 46

PYMNTS

SEPTEMBER 18, 2017

In the wake of the massive data breach at Equifax , the embattled credit scoring company announced that the Chief Information Officer, David Webb, and the chief security officer, Susan Mauldin, will both retire. These moves come after the company disclosed a major data breach in which 143 million U.S.

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Breach Risk Federal Trade Commission Data Breach 66

PYMNTS

NOVEMBER 25, 2019

The hackers sent phishing emails to the utilities’ employees in an attempt to get malware — dubbed “Lookback” — installed on computers. We never got compromised, and never saw the phishing emails,” he said. Attackers briefly identified intended targets on an exposed server in Hong Kong. “It

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FBI Phishing Breach Compromise 64

PYMNTS

MARCH 16, 2017

The Department of Justice bringing charges against two spies in Russia and two hackers who allegedly took part in the massive data breach that rocked Yahoo recently has now shed light on exactly how these breaches took place. This past fall, Yahoo disclosed a massive breach of user accounts that impacted 500 million people.

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FBI Breach Identity Theft Data Breach 46

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.

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Data Breach Breach Cybersecurity Phishing 49

PYMNTS

JANUARY 25, 2021

Data breaches, botnet attacks and other forms of external threats are well-known to digital-first banks. But internal threats, such as those that occur when employees’ credentials are compromised in phishing attacks, are just as imperiling and can bypass banks’ external defenses.

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Credential Data Breach Phishing Cybersecurity 94

PYMNTS

APRIL 14, 2019

According to reports citing Microsoft, the company confirmed that a “limited” number of webmail users — including @msn.com and @hotmail.com — saw their accounts compromised by hackers. The breach happened between January 1, 2019, and March 28, 2019, according to reports.

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Breach Accounts Credential Compromise 68

PYMNTS

MARCH 3, 2020

A recent study found that legacy fraud attempts, like check fraud, were stopped 90 percent of the time, but experts predict that electronic fraud methods, such as phishing and email account compromises, will become much more prevalent over the next year. million compared to unsecured companies’ $5.16

Data Breach 60

Data Breach Online and Mobile Banking ATM Breach 60

PYMNTS

NOVEMBER 2, 2016

is a particular target for data breaches that involve compromised employee account data. government is reportedly gearing up to spend close to £2 billion over the course of the next five years to fight the growing number of cyberattacks in the country. According to a report , research suggests the U.K.

Cybersecurity 68

Cybersecurity Data Breach Phishing Compromise 68

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. In a press release on Tuesday (Feb.

Cybersecurity 56

Cybersecurity Visa Data Breach Small Business 56

PYMNTS

JULY 15, 2020

With data showing that 45 percent of all 2019 data breaches — and there were a lot of them — involved medical records theft, costing healthcare providers $429 per compromised patient record or nearly $18 billion, organizations can’t be confused about their value to cyberthieves. Medical Records = Dark Web Gold.

Data Breach 58

Data Breach CCPA Social Security Credit Cards 58

PYMNTS

MAY 2, 2019

PYMNTS readers certainly know much about passwords – specifically, how those relatively primitive tools continue to endure despite data breach after data breach after data breach, and how a host of companies, organizations, entrepreneurs and technology experts are working hard to come up with mainstream replacements for them.

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Security Data Breach Breach Authentication 55

PYMNTS

JULY 10, 2019

Besides identity theft, malware and viruses, there are phishing scams, data breaches and other unknown issues that can compromise computers and daily life. Privacy management company TrustArc is getting $70 million to further advance innovation and security in the data privacy landscape via a Series D funding round.

Privacy 40

Privacy Identity Theft Regulatory Compliance Data Breach 40

Stax

DECEMBER 20, 2023

Secure transactions ensure you can maintain a trustworthy reputation with past and future customers, as well as reducing the financial losses that come from the fines and legal fees associated with compromising customer data. One of the most famous data breaches happened to Target in 2013.

Credit Cards 88

Credit Cards Small Business Process Security 88

Seon

MAY 23, 2024

Other types of mobile malware attacks facilitated through malicious apps or software vulnerabilities can compromise the integrity of devices, providing attackers with unauthorized access to sensitive information. Another way that this outdated security standard has become obsolete is through the proliferation of data breaches.

Fraud Prevention 52

Fraud Prevention Deepfake Fraud Detection Authentication 52

PYMNTS

MARCH 12, 2018

The most devastating impacts of a data breach can only be avoided by both working to prevent a breach and by planning and preparing a response before an incident occurs,” Jerry Thompson, senior vice president of Intersections, told the publication in an interview.

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Small Business Cybersecurity Risk Assessment Data Breach 54