Fintech News

NOVEMBER 24, 2024

Finastra, a major financial software provider that serves many of the world’s leading banks, is grappling with a data breach. The company confirmed the incident to TechCrunch following a hacker’s claim of compromising Finastra ‘s internal file-transfer platform and subsequent attempts to sell the stolen data.

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The Fintech Times

JULY 30, 2024

The cost of data breaches has been on a steady incline for the past decade. However, evidence from IBM , a multinational tech firm, suggests that in the next 10 years, breaches could cost a lot more as we just experienced the highest year-on-year jump in cyber attacks (10 per cent).

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PYMNTS

AUGUST 16, 2019

did not have basic cybersecurity safeguards while it ran a service powered by artificial intelligence (AI) on the carrier’s website last year and in 2017, The Wall Street Journal reported. The suit claims that [24]7 waited over five months to tell the airline about the breach instead of immediately informing it. Delta Airlines Inc.

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VISTA InfoSec

JUNE 27, 2024

In a recent development that has raised concerns across the education sector, Los Angeles Unified School District (LAUSD) has confirmed a significant data breach involving student information. Conclusion The ramifications of this breach extend beyond immediate security concerns. 5 / 5 ( 1 vote )

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VISTA InfoSec

APRIL 5, 2024

The following are some of the consequences when data privacy and security are compromised: Productivity loss. Operational interruption happens when cybersecurity is breached. A file falling into the wrong hands or credentials being revealed to unauthorized personnel could spell lost productivity and revenue.

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PYMNTS

OCTOBER 12, 2018

FitMetrix , a fitness technology and performance tracking company owned by MINDBODY , has suffered a data breach that could impact 113.5 Bob Diachenko, Hacken ’s director of cyber risk research, revealed the breach was caused by several servers that were left without a password. million users.

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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. Employee education plays a critical role in cybersecurity.

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CB Insights

MARCH 27, 2019

Cybersecurity is a hot topic today. Already this year, at least 30 organizations — including coffee chain Dunkin’ and cloud provider Rubrik — experienced major data breaches. Future of Cybersecurity: Trends & Startups To Watch. Future of Cybersecurity: Trends & Startups To Watch.

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PYMNTS

JUNE 6, 2016

Reports of data breaches and cyberattacks are serious, but what happens when those claims are untrue? According to Krebs on Security , last week, several identity theft protection companies incorrectly named Dropbox as the source of a data breach that compromised nearly 73 million usernames and passwords.

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Finovate

JUNE 10, 2024

Austin, Texas-based cybersecurity firm SpyCloud has raised $35 million in funding. In a round led by CIBC Innovation Banking, Texas-based cybersecurity company SpyCloud has secured $35 million in growth funding. SpyCloud won Best of Show in its Finovate debut at FinovateFall 2017 in New York. SpyCloud recaptured nearly 1.8

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FICO

OCTOBER 10, 2016

Those affected were neither informed nor allowed to try to remediate any exposure through changing passwords or other security credentials for two years. This prompted some pretty hot responses about the General Data Protection Regulation and its suitability as a framework within which data breaches should be managed.

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PYMNTS

JULY 9, 2018

Timehop , the mobile app that gathers photos from social media, disclosed on Monday (July 9) that it was the subject of a data breach. In a blog post, the company said that on July 4 it experienced a network intrusion that led to a breach of some of its customers’ data.

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PYMNTS

JUNE 28, 2016

It was reported that the login credentials of more than 32 million Twitter users were compromised. According to LeakedSource, which indexes hacked credentials from data breaches, the credentials are being traded on the dark web for about 10 bitcoin a pop, or a little under $6,000.

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FICO

DECEMBER 18, 2017

That 1849 quip from Jean-Baptiste Alphonse Karr somehow seems fitting for today’s cybersecurity industry. In 2017 we saw massive change in the speed, creativity and magnitude of attacks — yet the industry plodded along on important issues such as timely data breach disclosures. Sure, it’s difficult.

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PYMNTS

DECEMBER 22, 2016

Corporates large and small are “naïve” about their cybersecurity risks, according to a new report. That’s despite 80 percent of CEOs expressing confidence in existing cybersecurity strategies. Meanwhile, 20 percent cited a lost device for the cause of a breach. companies’ cybersecurity measures.

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PYMNTS

OCTOBER 28, 2019

UniCredit has revealed a data breach that leaked information belonging to three million customers from Italy, Reuters reported on Monday (Oct. The data leak did not include any financial information or the credentials required to access client accounts. billion) on cybersecurity enhancements. billion ($2.7

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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.

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The Payments Association

NOVEMBER 20, 2024

AI isn’t just a buzzword in cybersecurity. Scammers may also obtain cardholder information from data breaches or use stolen login credentials to access other payment platforms. The good news is that innovations in the AI space are making chargeback prevention a much more manageable prospect.

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Fintech News

JANUARY 17, 2024

Companies in the region report a 28 percent rise in cyber threats, highlighting the urgent need for robust cybersecurity measures. Meanwhile, in a separate incident in Singapore, the cybersecurity landscape saw a significant surge in phishing attempts targeting local entities in 2022.

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FICO

AUGUST 21, 2017

But unfortunately, many of the things that keep executives awake at night, such as the cybersecurity risk of their extended enterprise, have been impossible to measure, let alone manage, at least until now. Data breaches and malware attacks are the hurricanes and earthquakes of the rapidly growing cybersecurity insurance industry.

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PYMNTS

JANUARY 23, 2020

billion consumer accounts fell victim to data breaches during the first half of 2019 — to the tune of $4 million in lost revenue per breach. More than 90 percent of Americans have fallen victim to online scams, data breaches, identity theft or other forms of fraud, though certain varieties are more common than others.

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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. 2013, resulting in $3.1 ”

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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. last December pegged global spending on cybersecurity by corporates will hit $96.3 Estimates from Gartner, Inc.

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PYMNTS

MAY 29, 2019

Its designer, Guo O Dong, describes himself as a “contemporary internet artist,” and he created the artwork with cybersecurity company Deep Instinct , which provided the malware and supervised the work so it was created in a safe environment. The laptop is a 2008 Samsung NC10-14GB 10.2-Inch Inch Blue Netbook running Windows XP.

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PYMNTS

JANUARY 25, 2021

They often hack into these consumers’ accounts using passwords stolen from other sites that use the same login credentials, for example. Banks were expected to boost their cybersecurity budgets by 15 percent in 2020 compared to previous years, spending an average of $3,000 per employee on such upgrades.

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PYMNTS

JANUARY 27, 2020

Businesses have good reason to be concerned about data breaches. Cybercriminals’ accomplishments come at the expense of targeted businesses, with a recent study finding that individual data breaches cost firms around the globe an average of $3.92 million in 2019 — a 1.5 percent increase from 2018. Fighting the Phishers.

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PYMNTS

JULY 24, 2020

Instead, Instacart said hackers used credential stuffing, a practice in which usernames and passwords stolen from other sites are used to hack into other accounts. “It Sellers were offering data from what could have been 278,531 accounts, although some may have been duplicates or fake. Instacart denied it happened. “We

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PYMNTS

AUGUST 31, 2017

NBC News reported that the data breach occurred because spammers neglected to secure their servers, allowing the information to be accessed and downloaded without credentials. That data appeared for sale on the dark web in May 2016.

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Seon

JANUARY 29, 2024

In layman’s terms, users may refer to account takeover fraud as account hacking – when they realize someone stole their online credentials. Account Takeover Fraud Prevention Preventing account takeover (ATO) fraud poses a unique risk management challenge as it requires collaboration between your business, users, and cybersecurity team.

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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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PYMNTS

FEBRUARY 28, 2020

Failing to prevent a data breach is a surefire way to lose that trust, however. Credit unions possess vast troves of personal information such as credit card data and Social Security numbers that could devastate members if leaked. Data Breaches Within And Without. Credit unions are no strangers to data breaches.

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FICO

DECEMBER 21, 2018

It’s an understatement to say that 2018 was a year of blockbuster data breaches : Facebook, Marriott, Ticketmaster and British Airways, to name just a few. Chamber of Commerce announced the first national cybersecurity assessment , called the Assessment of Business Cybersecurity (ABC). Just Say “No” to Biometrics.

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PYMNTS

MAY 16, 2019

Death, taxes and data breaches – those are perhaps the only sure things in life, and new evidence is emerging that hackers are finding increasing profit in targeting online retailers. It could easily be credential stuffing,” Stuppy said. “It There is no reason to believe that multiple things aren’t going on here.

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PYMNTS

MARCH 24, 2017

It’s been an interesting week when it comes to Apple’s cybersecurity news. In this week’s Hacker Tracker , cybersecurity experts weigh in on what may or may not impact hundreds of millions of Apple customers. Justice Department for allegedly taking part in the massive data breach that rocked Yahoo.

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PYMNTS

MARCH 2, 2020

When hackers hit Pennsylvania-based fuel and convenience retailer Wawa, they made off with the credentials of potentially thousands of credit union members. The government is holding feet to the fire over cybersecurity, and credit unions are expected to have the same protections as any bank. CU in Court.

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CB Insights

JULY 20, 2017

We used CB Insights data to identify over 135 cybersecurity companies with specific use cases for financial services, and categorized them into a market map spanning 16 key categories and subcategories. TRACK ALL THE CYBERSECURITY STARTUPS IN THIS BRIEF AND MANY MORE ON OUR PLATFORM. Track cybersecurity startups.

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PYMNTS

NOVEMBER 25, 2016

To combat this, hackers are looking to gain access to sensitive information by taking a much easier route: using legitimate credentials to go right inside. The bad guys realize that we’re getting better at locking the doors, so they have to go after the keys, and really, that’s what those user credentials are.”.

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