PYMNTS

DECEMBER 18, 2020

18) that the government says would make convertible digital currencies like bitcoin less attractive to criminals engaging in crimes such as ransomware attacks. In addition, ransomware attacks and associated demands for payment, which are almost exclusively denominated in CVC, are increasing in severity.".

Treasury 141

Treasury Rules Bitcoin Ransomware 141

Fintech News

APRIL 1, 2024

Payments sector share of overall identity fraud by region H2 2023, Source: Q4 Global Identity Fraud Report, AU10TIX, Mar 2024 Crypto crimes remain rampant The crypto industry is a sector that’s long been a top target for fraudsters and cybercriminals. Ransomware payments using cryptocurrencies reached US$1.1

Ransomware 117

Ransomware Payments Bitcoin Scams 117

PYMNTS

APRIL 27, 2017

was the number one target for ransomware last year. To start, ransomware threats escalated globally through 2016 in size, number and kind. Likewise, they registered a 36 percent increase in ransomware attacks globally in the same period. It’s no surprise, then, that the written amount of ransomware has gone up and that the U.S.

Ransomware 49

Ransomware End User Crime Law Enforcement 49

PYMNTS

MAY 31, 2016

Last week, the FBI published a report confirming the fact – the data noting that, in 2015, ransomware attacks left businesses and individuals feeling the burn of more than $1.6 In the “2015 Internet Crime Report,” Randall C. Ransomware attacks and threats are said to have accounted for $1,620,814 of that sum, the report stated.

Ransomware 41

Ransomware Crime FBI Security 41

PYMNTS

JUNE 25, 2020

The June Preventing Financial Crimes Playbook explores the latest financial crime developments, including the effect of open banking on FI security, the authentication measures banks and developers are deploying to protect themselves, and the massive impact that the ongoing pandemic is having on financial crime.

Financial Crimes 91

Financial Crimes MFA Federal Trade Commission Crime 91

PYMNTS

AUGUST 18, 2016

IT security company Check Point released its in-depth research on the growing threat of Ransomware-as-a-Service (RaaS). It’s estimated that ransomware authors earn $946,000 annually. In the “2015 Internet Crime Report,” Randall C. The remaining money was split amongst other affiliates.

Ransomware 40

Ransomware Crime FBI Bitcoin 40

PYMNTS

FEBRUARY 10, 2020

have plummeted in recent years, and ransomware cyberattacks have skyrocketed. Data Shows 41 Pct Hike In Ransomware Attacks In 2019. Ransomware cyberattacks are up 41 percent from last year, taking down computer networks across businesses, hospital and governments. In today’s top news, Chinese tech investments in the U.S.

Ransomware 56

Ransomware Central Bank Crime Bitcoin 56

Fintech Finance

OCTOBER 24, 2024

The latest edition of the report brings to light several emerging threats and scams targeting banks and consumers, including a surprising resurgence of small-scale physical crime. Ransomware: More sophisticated ransomware attacks are affecting more companies and individuals. Although there was an overall decrease of 12.3%

Scams 98

Scams Ransomware Government Governance 98

PYMNTS

AUGUST 24, 2020

Fitzhugh warned, "Invoice fraud is not a victimless crime. A 60 percent increase in ransomware payments signals continued B2B payment attacks, according to the latest data from Coveware. Yet with companies of all sizes working from home, ransomware attacks are also on the rise among smaller firms. Canada and the world over.

Scams 119

Scams Business Email Compromise Ransomware Email Compromise 119

PYMNTS

FEBRUARY 12, 2020

According to the 2019 edition of the FBI’s Internet Crime Report , last year was both a lucrative and diverse year for cybercriminals and scammers. All in, the FBI’s Internet Crime Complaint Center (IC3) received a total of 467,361 complaints, with reported losses exceeding $3.5

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

JUNE 4, 2020

universities have been the victims of ransomware attacks in the past week, according to Cointelegraph. The information comes from a ransomware gang, boasting that they successfully attacked the University of California San Francisco on June 3, the most recent attack.

Bitcoin 61

Bitcoin Ransomware Scams Phishing 61

Finovate

APRIL 3, 2024

Crypto Crime Collapses “Collapse” may be a bit strong, but “2023 saw a significant drop in value received by illicit cryptocurrency addresses,” according to a report issued earlier this year by Chainalysis. The report – 2024 Crypto Crime Trends – noted that from a high of $39.6 billion mark.

Crime 52

Crime Bitcoin Cryptocurrency Ransomware 52

FICO

APRIL 12, 2017

Now, FICO’s proven behavioral analytics can be applied by forward-thinking institutions to fight a wide range of financial crimes. With regard to cybersecurity, the ability to pinpoint cyber attacks more quickly greatly reduces the “dwell time” of malware, ransomware and other malicious code that causes data breaches and other damage.

Financial Crimes 49

Financial Crimes Crime Suspicious Activity Report (SAR) SARS 49

PYMNTS

OCTOBER 15, 2018

In a new report from SCORE , researchers revealed just how large of a target small businesses are for cybercriminals, deploying a range of technologies to carry out their crimes — 43 percent of cyberattacks targeted SMBs last year. 133,000: the average cost of a ransomware attack on a small business.

Ransomware 77

Ransomware Online and Mobile Banking Small Business Scams 77

PYMNTS

JANUARY 25, 2017

It looks like ransomware has gotten by the safeguard in Google Play, the official Android marketplace for apps. Called Charger, the ransomware was hiding out in an app called Energy Rescue for at least one Android handset user, according to a blog post from Check Point Software. We collect all data about your friends and family.”

Ransomware 40

Ransomware Crime Checks Credit Cards 40

FICO

MAY 20, 2021

In my Financial Crimes Predictions 2021: More AI & Ransomware post , I talked about how banks will move to operationalize their Anti-Money Laundering (AML) compliance programs to achieve greater efficiencies and how robotic process automation (RPA) adoption will drive the paradigm shift.

Financial Crimes 52

Financial Crimes AML Crime Automation 52

PYMNTS

FEBRUARY 28, 2020

In a report titled “The Dark Side of Latin America,” IntSights, which monitors cyberthreats, said Latin America is among the top regions for money laundering, done at least in part through cryptocurrency, and that such tactics are favored by organized crime. The tailwinds for cybercrime? IntSights reported that there were 453.7

Money Laundering 86

Money Laundering Crime AML Cryptocurrency 86

PYMNTS

JANUARY 30, 2020

Bitcoin has also been a crucial part of the recent increase in ransomware cyberattacks. Chainalysis’ new Crypto Crime Report details how criminal activity absorbs price fluctuations. Chainalysis’ new Crypto Crime Report details how criminal activity absorbs price fluctuations.

Bitcoin 61

Bitcoin Ransomware Money Laundering Cryptocurrency 61

PYMNTS

OCTOBER 12, 2020

The fear is that stablecoins could be used for money laundering and terrorist financing, among other crimes. The G7 draft also considered what to do about the rise in ransomware attacks due to COVID-19 and the online shift in economic activity.

Regulations 80

Regulations Digital Currency Stablecoins Money Laundering 80

The Paypers

MARCH 16, 2016

(The Paypers) Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the cyber-crime industry of ransomware.

Ransomware 28

Ransomware Crime Government Governance 28

PYMNTS

SEPTEMBER 8, 2020

949 gigabytes of confidential data have been accessed by ransomware attackers targeting IT distributor Ma Labs , reports in CRN said, an attack that has stalled the company's operations and left its customers in limbo. million was siphoned from one New Zealand business in a scam linked to invoice fraud. According to Stuff.co.nz

Business Email Compromise 69

Business Email Compromise Ransomware Payee Overlay Service 69

PYMNTS

JULY 16, 2019

Cryptocurrencies such as bitcoin have been exploited to support billions of dollars of illicit activity like cyber crime, tax evasion, extortion, ransomware, illicit drugs and human trafficking,” Mnuchin said, adding that he is “not comfortable today” with the social media giant’s planned launch.

Treasury 75

Treasury Security Money Laundering Cryptocurrency 75

PYMNTS

DECEMBER 16, 2019

60 percent more ransomware attacks were recorded this year , new data from Kaspersky Labs found. The year-over-year surge in ransomware largely targeted municipalities and their subset organizations, highlighting a shift in ransomware targets from corporates to government entities.

Ransomware 59

Ransomware Cross-Border Cross-Border Payments Payroll 59

PYMNTS

DECEMBER 1, 2020

Kaspersky predicted that the “persistent engagement” strategy to financial crime will expand, and that institutions, countries and territories could face economic sanctions for failing to properly combat cybercrime in their regions.

Bitcoin 80

Bitcoin Money Laundering NOV Cryptocurrency 80

PYMNTS

FEBRUARY 27, 2020

An unfortunate spike, however, has been in crime, as criminal activity involving bitcoin rounded up to a full 1 percent of its use in transactions, per published reports. That can include things like bitcoin-backed drug sales, up 60 percent on the dark web, and ransomware cyberattacks.

Bitcoin 63

Bitcoin Ransomware Cryptocurrency Crime 63

PYMNTS

FEBRUARY 27, 2020

Bitcoin has been friendly to crime in the past, becoming popular for perpetrators of ransomware and fraud. XRP fell 8.2 percent to about 23 cents at the close of New York trading, having fallen about 14 percent this week, according to numbers compiled by Bloomberg.

Ransomware 60

Ransomware Crime Cryptocurrency Bitcoin 60

PYMNTS

SEPTEMBER 21, 2018

To that end, the the Internet Crime Complaint Center (IC3), a hub to bring complaints to the Federal Bureau of Investigation (FBI), is eyeing payroll fraud. Ransomware is in there, of course, where a methodology shift is underway — i.e. criminals are less random in their approach and now target specific companies and individuals.

Payroll 56

Payroll FBI ACH Same Day ACH 56

PYMNTS

MARCH 17, 2017

It seems as though the trend of ransomware attacks isn’t disappearing any time soon. The latest research from the National Crime Agency and National Cyber Security Centre found that the risk to businesses is “significant and growing,” due to the increasing instances of ransomware attacks. Cyber Ransoms (Still) On The Rise.

Breach 40

Breach Ransomware Disaster Recovery Cybersecurity 40

PYMNTS

APRIL 30, 2018

With a threefold increase in the number of corporates who had been hit by a ransomware attack in the last year compared to a year prior, corporate treasurers have been forced to swallow the large, uncomfortable pill of the threat of cyberattacks and fraud on their organizations in a short amount of time. “There is a lot more to be done.”

Email Compromise 59

Email Compromise Treasury Ransomware Wire 59

PYMNTS

JANUARY 18, 2018

Treasury’s financial crime unit is picking up enforcement of cryptocurrency platforms that don’t have strong internal mechanisms in place to prevent money laundering, according to a report in Reuters. The report noted that roughly 100 platforms have registered with the Financial Crimes Enforcement Network. Sigal Mandelker, the U.S.

Money Laundering 47

Money Laundering Treasury Cryptocurrency Financial Crimes 47

The Fintech Times

NOVEMBER 20, 2024

Generative AI (GenAI) is being used to create sophisticated digital forgery and injection attacks through well known methods like phishing, fraud and ransomware. It is essential for preventing fraud and financial crime. per cent of attacks globally). It’s no longer optional; it’s imperative.”

Deepfake 69

Deepfake Phishing Account Takeovers AI 69

PYMNTS

MAY 29, 2019

billion in damages in its first week; MyDoom, which was reportedly commissioned in Russia; SoBig, which has infected PCs in the hundreds of thousands; WannaCry, a ransomware; Dark Tequila, which stole bank credentials when users were offline; and Black Energy, which was responsible for the major blackout in the Ukraine in 2015.

Data Breach 51

Data Breach Cybersecurity Breach Ransomware 51

PYMNTS

FEBRUARY 24, 2020

41 percent more ransomware attacks were initiated last year , the New York Times reported, citing data from Emsisoft, with 205,280 businesses losing access to their data as a result. The government’s Industrial Development Company finance director has reportedly alerted the FBI of the alleged crime.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

PYMNTS

JANUARY 1, 2021

Among the government's arguments for expanding the policy is the use of cryptocurrency in crimes such as the distribution of ransomware. Treasury follows through with enacting the regulation after a comment period expires in the coming weeks, crypto exchanges will have to report transactions valued at $10,000 or more.

Bitcoin 80

Bitcoin Cryptocurrency OFAC Treasury 80

PYMNTS

MAY 15, 2017

Reuters and others reported that the ransomware infections that hit computers worldwide likely trace their genesis to the U.S. fell victim Friday (May 12) of a cyberattack , while several companies in Spain were hit with a ransomware attack. National Security Agency, and Friday’s tally comes to more than 126,000 cases of infection.

Ransomware 40

Ransomware Law Enforcement Cybersecurity Government 40

The Fintech Times

JANUARY 26, 2024

New cybersecurity measures do not completely stop crime – they only slow it down. There are many global crime syndicates and nation-backed operations. This is because cybercriminals are always adapting to overcome companies’ defences, meaning firms need to constantly stay two steps ahead. Hackers could apply that same rule.

Data Breach 59

Data Breach Breach Crime Ransomware 59

PYMNTS

JUNE 7, 2018

Immersive was able to create a tool just four hours after the WannaCry malware attack became public that enabled users to analyze how the ransomware behaved so they could create prevention antidotes. There’s no competitive advantage here, the advantage is we stop this form of crime?.?.?.?by

Cybersecurity 51

Cybersecurity Ransomware Crime Technology 51