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Fraudsters are Turning to Third Party Vendors as New Means of Attack as Firms Improve Cybersecurity

The Fintech Times

Firewalls, stronger passwords and multi-factor identification are just a few ways businesses are protecting their ‘front doors’ However, they remain susceptible to attacks through third-party vendors’ systems reveals SecurityScorecard. The MOVEit exploit was discovered in the spring of 2023.

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B2B Fraudsters Find New Twists In Old Scam Favorites

PYMNTS

According to reports, there are allegations that a handful of managers within SEPTA cooperated in a fraud scheme with one of SEPTA’s vendors, which is facing claims that it submitted false invoices along with legitimate bills. “VEC is the next evolution of business email compromise. . A New Twist On the BEC Scam.

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FBI Warns Banks About Widescale ATM Cash-Out Scam

PYMNTS

According to the FBI, the bank or payment processor is compromised with malware to access bank customer card information and exploit network access, enabling funds to be taken from ATMs.

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When Vendors Open Doors To Cyberattackers

PYMNTS

Nearly 250 companies said they experienced a data breach because of security lapses at their supplier, and one-third of them said that incident impacted personal data. Twenty-nine percent said payment data was compromised, while nearly one-quarter said proprietary company data was exposed. million business email compromise scam.

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SenseOn: Confronting Modern Cyber Risks in Financial Services

The Fintech Times

As organisations rely on third-party vendors for various services like cloud computing, payment processing or customer service, these external relationships can introduce vulnerabilities if proper oversight and due diligence aren’t conducted.

Risk 59
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The Uncharted Territory Of M&A Cyber Risks

PYMNTS

which suffered a data breach last year as the result of a cybersecurity incident at a third-party vendor. T-Mobile ‘s breach in 2015 that compromised the data of 15 million customers was the result of a third-party security lapse, too. Such cases have been reported at Ticketmaster U.K.

Risk 65
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Wendy’s Confirms Payments Breach

PYMNTS

Wendy’s order appears to finally be up, as it were, with Sophos’ Naked Security having found, within the burger chain’s report on its first quarter results, the following statement (under the heading “Update on investigation into unusual payment card activity”): “[Wendy’s] believes that malware, installed through (..)

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