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.

Phishing 51

Phishing Breach Data Breach Scams 51

PYMNTS

JULY 30, 2018

A phishing scam making the rounds and targeting businesses is using the Square name to fool its targets. Users should also be on the lookout for typos and grammatical errors in any emails, and be sure not to share sensitive details like payment card information or Social Security numbers. That’s an instant foot in the door.”.

Phishing 51

Phishing Scams Business Email Compromise Email Compromise 51

Fi911

JULY 8, 2024

The rise of online shopping has made eCommerce fraud an increasingly prevalent and sophisticated threat, necessitating advanced security measures to protect both merchants and customers. This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. But, what exactly are those threats?

Account Takeovers 87

Account Takeovers Fraud Detection Phishing Fraud Prevention 87

VISTA InfoSec

APRIL 3, 2024

This article delves into common pitfalls that can undermine the security efforts of commercial enterprises. Out-of-Date Security Systems The rapid pace at which digital threats evolve demands an equally dynamic approach to cybersecurity. Let’s get started. Encrypted data remains safe from prying eyes both in transit and at rest.

Cybersecurity 130

Cybersecurity Encryption Breach Phishing 130

Clearly Payments

MARCH 4, 2024

From the Target data breach that compromised millions of customer accounts to the collapse of Wirecard AG following revelations of accounting fraud, these fraud events serve as stark reminders of the vulnerabilities within payment systems. Over 40 million credit and debit card accounts compromised.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

Fintech News

MAY 27, 2024

As per IBM Security’s report, APAC bore the highest average cost of a data breach globally, averaging US$3.24 In addition to data breaches, generative AI tools pose a distinct challenge to APAC fintechs, empowering fraudsters to craft sophisticated phishing lures and synthetic identities. million in 2021.

APACS 112

APACS FinTech Data Breach Fraud Prevention 112

PYMNTS

FEBRUARY 1, 2021

40 legitimate email accounts of company executives have been compromised in a phishing campaign targeting businesses , according to Gov Info Security reports. The scam involves sending a phishing email claiming to be a Microsoft Office 365 update.

Data Breach 136

Data Breach Breach Business Email Compromise Scams 136

PYMNTS

DECEMBER 14, 2020

Treasury and Commerce departments are unable to protect their digital databases, lesser organizations would be seemingly hard-pressed to prevent similar security breaches. Justice Department, National Security Agency and the White House. The thinking goes that if the U.S. It includes all five branches of the U.S. The U.S.

Government 85

Government Governance Security Cybersecurity 85

Fintech News

JUNE 10, 2024

The Cyber Security Agency of Singapore (CSA), the Singapore Police Force (SPF) , and the Personal Data Protection Commission (PDPC) have issued a warning to organisations about the Akira ransomware variant, which has been targeting businesses across various sectors. They also gather system and network information to further their attacks.

Ransomware 101

Ransomware Authorization Phishing Cybersecurity 101

PYMNTS

JUNE 6, 2019

Security experts are warning about a phishing scam that can help hackers bypass two-factor authentication (2FA). The attack was demonstrated for the first time at the Hack in the Box Security Conference in Amsterdam last month, according to Fortune.

Scams 58

Scams Credential Security Phishing 58

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. 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.

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

Fintech News

AUGUST 19, 2024

These scams involved pop-up alerts on victims’ devices, falsely claiming they were compromised by malware. Between January and July 2024, the SPF received 185 reports of technical support scams, resulting in losses exceeding S$ 17.9

Scams 114

Scams Money Laundering Cross-Border Phishing 114

PYMNTS

OCTOBER 9, 2020

We have seen phishing attacks surge since the pandemic started,” Reichel said. Phishing scams continue to proliferate in the number of attacks and dollar value of losses.”. The quality of the branded phishing emails are what sets the latest coronavirus email attacks apart,” Reichel said. Spear Phishing. Brand Forgery.

B2B 116

B2B Phishing Scams Ransomware 116

PYMNTS

AUGUST 3, 2020

” That includes malware and phishing schemes, extortion, business email compromise and more, sometimes involving demands for cryptocurrency. FinCEN warns that bad actors “are engaged in fraudulent schemes that exploit vulnerabilities created by the pandemic.”

Fincen 88

Fincen Scams Email Compromise Phishing 88

Stax

DECEMBER 20, 2023

By following these simple tips, you’ll be able to secure credit card processing rates that make big businesses jealous. Secure your transactions Ensuring your customers’ transactions are secure isn’t just in the customers’ best interests. Just starting out with your small business? The bigger you think, the smaller your rates.

Credit Cards 88

Credit Cards Small Business Process Security 88

PYMNTS

JANUARY 3, 2021

T-Mobile has told some customers of a “security incident” in which a malicious party “may have impacted some of your T-Mobile account information.”. 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.

Law Enforcement 85

Law Enforcement Compromise Data Breach Phishing 85

FICO

FEBRUARY 16, 2023

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Now that we have data from the entire year to review, we are seeing the alarming trend continue.

Compromise 98

Compromise Scams Debit Card Smishing 98

PYMNTS

JULY 24, 2020

Outside of the Instacart platform, attackers may target individuals using phishing or credential stuffing techniques. ” But on the contrary, Nick Espinosa , head of cybersecurity firm Security Fanatics , said the data looked “recent and totally legit,” Buzzfeed News reported.

Data Breach 86

Data Breach Breach Phishing Duplicate 86

VISTA InfoSec

FEBRUARY 13, 2024

These threats are widespread and can also lead to severe consequences, including financial loss, and the compromise of personal and sensitive data. Audits play a complementary role by ensuring that existing security measures align with both internal policies and external regulatory requirements.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

PYMNTS

AUGUST 24, 2020

This week's B2B Data Digest looks at the rising threat of the business email compromise (BEC) scam and invoice fraud on companies of all sizes in the U.S., Reports in Security Boulevard said that the 60 percent spike occurred in just three months, with the average payout being $178,254 for Q2 2020, compared to $111,605 in Q1.

Scams 119

Scams Business Email Compromise Ransomware Email Compromise 119

The Fintech Times

DECEMBER 22, 2023

Cleafy explained that new malware variants often go undetected by traditional security measures, allowing cybercriminals to exploit vulnerabilities and launch attacks that go undetected. These variants are distributed through various channels, including email attachments, compromised websites, and phishing attempts.

AI 88

AI Cybersecurity Online and Mobile Banking Fraud Prevention 88

PYMNTS

JUNE 8, 2020

Open banking may soon become table stakes for financial institutions (FIs) — they need to act now and be able to offer it securely or risk getting left behind. FIs therefore cannot afford to drag their feet on implementing open banking, but many may be concerned that third-party access to customer data will exacerbate security challenges.

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Authentication MFA Phishing Scams 60

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. “This includes having technical controls, the right procedures, and ensuring staff have relevant and timely security awareness and training.”

Ransomware 60

Ransomware Phishing Encryption Data Breach 60

VISTA InfoSec

JUNE 21, 2023

Data breaches are affecting millions of people across the globe, with over 340 million records already compromised in 2023 headline cases and new incidents surfacing every week. You need to know if any data has been compromised and, if so, where it may have been shared.

Data Breach 130

Data Breach Breach Law Enforcement Cybersecurity 130

The Fintech Times

JUNE 20, 2024

From ransomware attacks and phishing schemes, to account takeovers and distributed denial of service (DDoS) attacks, all these threats can result in serious operational disruptions and loss of customer trust, incurring costly remediation. They create inefficiencies and bottlenecks that lead to security gaps being exposed to hackers.

Risk 59

Risk Cybersecurity Data Breach Ransomware 59

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 One thing is clear: Money is the top motivator in the threat landscape today,” Carl Herberger, VP of security solutions at Radware, explained.

Phishing 45

Phishing Ransomware EMV CHIPS 45

EBizCharge

OCTOBER 25, 2023

An incident is only considered a data breach if the confidentiality of data is compromised. Sensitive or confidential data can include customer data records, bank account numbers, Social Security numbers, healthcare information, intellectual property, etc. Threat actors employ various methods and techniques to execute data breaches.

Best Practices 52

Best Practices Data Breach Breach Phishing 52

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

OCTOBER 19, 2018

In general, hackers turn to methods such as social engineering, malware and spear phishing to target digital currency exchanges. The most popular attack vector on corporate networks is spear phishing. In order to accomplish this, the scammers deliver malware.

Phishing 79

Phishing Digital Currency Cryptocurrency Compromise 79

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.

Phishing 52

Phishing Credential Best Practices Data Breach 52

PYMNTS

JULY 22, 2019

Apps with a possible security flaw, a malware phishing scheme and possibly, payments fraud, all done in the blink of an eye? Security firm Symantec said this past week that it found a security flaw in Android apps for WhatsApp and Telegram, which can allow hackers to manipulate data that flows between users.

Phishing 72

Phishing Credential Scams Payments 72

Payments Source

JUNE 28, 2018

Payments fraud from business email compromise, or BEC, occurs when scammers use phishing tricks and email to fool businesses into making fraudulent payments to perceived suppliers. Experts suggest newer factors are accelerating the trend.

Email Compromise 68

Email Compromise Business Email Compromise Phishing Compromise 68

PYMNTS

SEPTEMBER 30, 2016

You don’t have to look far to see security flaws leading to massive data breaches. Security experts believe that may be what happened to Yahoo — the tech giant confirmed that over 500 million user accounts were compromised by hackers, marking what is said to be the largest data breach in U.S.

Security 76

Security Breach Data Breach Cybersecurity 76

PYMNTS

DECEMBER 27, 2016

Account takeovers, even of high-profile people, has become a common occurrence in this era of sophisticated cyberattacks and hacks, but researchers think they’ve found a way to fight back against account takeovers : cryptographically based security keys.

Account Takeovers 46

Account Takeovers Security Accounts Authentication 46

Fintech News

JANUARY 17, 2024

These crimes are becoming increasingly sophisticated, leveraging human-centric coercion and remote access tools, indicating a grim reality for digital banking security. On another front, LexisNexis Risk Solutions reports proactive efforts by the Hong Kong Monetary Authority to bolster online banking security and combat digital fraud.

Deepfake 120

Deepfake APACS Scams Authentication 120

PYMNTS

APRIL 4, 2019

. “The threat posed by cybercriminals continues to grow in complexity as they devise new techniques to breach IT security and trick unsuspecting employees into allowing them access to systems,” said Beazley Global Head of BBR Services Katherine Keefe in a statement. New Attacks Emerge.

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

The Fintech Times

MAY 15, 2024

In the last year alone, 50 per cent of businesses and 32 per cent of charities have reported cyber breaches or attacks, with phishing remaining the most common type of attack. This lack of transparency means it can be hard to identify and address potential biases or security risks.

Cybersecurity 72

Cybersecurity AI Government Governance 72