Fintech News

JUNE 3, 2024

Despite its rapid growth, the APAC region remains the second smallest cyber insurance market globally, S&P Global says, a statement that aligns with findings of a Moody’s survey which revealed strong cybersecurity oversight among APAC players compared to global counterparts. trillion annually by 2025.

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VISTA InfoSec

AUGUST 8, 2023

It can affect productivity, but you can mitigate the impact of attacks by deploying protective gear and training systems for your business and employees. But a cybersecurity report shows that 43% of data breaches involve small businesses. In essence, small businesses that ignore cybersecurity only do so at their own peril.

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Fintech News

FEBRUARY 21, 2024

The report by Chainalysis provides a deep dive into these changes, highlighting the decline in certain types of crypto crimes and the persistence, if not growth, of others, such as ransomware and darknet markets. Such measures were designed to discourage speculative trading and mitigate financial risks for retail investors.

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Crime Ransomware Scams Stablecoins 107

PYMNTS

FEBRUARY 5, 2020

Australian logistics company Toll has been forced to disable its systems and use non-digital processes after a ransomware attack on Friday (Jan 31) caused delays throughout the country, according to a report by ZDNet. “We 5), Toll identified the ransomware as an offshoot of a popular Mailto iteration. “We On Wednesday (Feb.

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PYMNTS

APRIL 18, 2019

For many, however, the technology still conjures up images of cybercrime and illicit activity, and new data revealing the rising threat of ransomware is likely to fuel that negative reputation. A new report from cybersecurity company Coveware put some numbers behind this trend. The average span of system downtime increased, too, to 7.3

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Ransomware Bitcoin SDN Cryptocurrency 57

PYMNTS

APRIL 29, 2019

To those who understand the importance of cybersecurity, and the monumental risks that growing cyberthreats impose on organizations, safeguarding systems and data may be assumed to go hand in hand with digital transformation. ” Internal controls and employee education are essential to mitigating this risk, and boosting oversight.

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Cybersecurity Ransomware Data Breach Non-Bank 74

VISTA InfoSec

SEPTEMBER 5, 2024

This article explores the most common cyber security threats targeting SMEs, practical measures to mitigate risks, and essential steps to take in the event of an attack. Malware and ransomware Malware and ransomware represent another threat to SMEs, as these malicious software programs can disrupt operations and lead to significant data loss.

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Security Phishing Ransomware Risk Assessment 130

VISTA InfoSec

OCTOBER 21, 2024

This article explores the most common cyber security threats targeting SMEs, practical measures to mitigate risks, and essential steps to take in the event of an attack. Malware and ransomware Malware and ransomware represent another threat to SMEs, as these malicious software programs can disrupt operations and lead to significant data loss.

Security 130

Security Phishing Ransomware Risk Assessment 130

Global Fintech & Digital Assets

DECEMBER 11, 2023

Covered financial institutions now face heightened expectations in relation to cybersecurity governance, risk assessment, and incident reporting. Key Amendments “Class A” Companies The Amendments create a new category of covered entities — deemed “Class A” companies — with heightened cybersecurity obligations.

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Cybersecurity Multifactor Authentication Risk Assessment MFA 59

PYMNTS

DECEMBER 5, 2017

When a company is hit by ransomware, the cost of paying the ransom is rarely, if ever, the full cost of the cyberattack. And while most said they acknowledged ransomware as a significant threat, less than half said they were confident they would be able to deal with a ransomware attack.

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PYMNTS

FEBRUARY 20, 2019

Cybersecurity experts are urging small business (SMB) owners to not ignore the risks they face from cyberattacks. In its announcement , Mastercard noted that providing educational resources for small businesses to mitigate the risk of cyberattacks not only helps the individual businesses, but supports the economy at large.

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Cybersecurity Visa Data Breach Small Business 56

PYMNTS

JANUARY 13, 2020

The currency exchange company continues in the grips of a ransomware attack that has crippled its operations, as well as the foreign currency operations of its corporate clients, including HSBC and Barclays. This week, cybersecurity publication Naked Security reported that $6 million was stolen from a New York company via invoice fraud.

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B2B Wire Transfer FBI Cybersecurity 89

PYMNTS

DECEMBER 6, 2017

A new cybersecurity solutions company has launched this week. In addition to its official start of operations, Coalition also said it is now offering cyber insurance products to SMBs in addition to its cybersecurity offerings. Cybersecurity is broken,” said Coalition CEO Joshua Motta in a statement.

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Cybersecurity Ransomware Risk Mitigation 43

PYMNTS

SEPTEMBER 30, 2019

Maersk Chief Technology and Information Officer Adam Banks spoke earlier this month at a cybersecurity conference, reflecting on that 2017 attack and noting that the company was “not unusually weak,” and adding that this is a fact for many organizations that can, unfortunately, lead to a false sense of security.

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Cybersecurity Third Party Vendors Compromise End User 57

FICO

DECEMBER 23, 2020

We predict a continued expansion in the use of AI/machine learning in financial services in such key risk areas as cybersecurity, customer onboarding, sanctions screening, transaction monitoring, etc. There Will Be More Ransomware Attacks and Potential Sanctions Risk Implications. Regulators Will Zero in on Closing the Gaps.

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Financial Crimes Ransomware Crime AI 52

The Fintech Times

APRIL 11, 2024

The Egress report highlights organisations’ evolving cybersecurity challenges, particularly involving phishing attacks, and has sparked concern among industry experts and cybersecurity leaders. Repercussions extend beyond financial losses, significantly impacting individuals within organisations.

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Phishing Cybersecurity Compromise Ransomware 69

PYMNTS

MAY 17, 2017

If you’re one of the many, many companies recently targeted by WannaCry , you’ve just been handed a harsh reality check in the importance of enterprise cybersecurity. Maybe you had ignored previous warnings or felt cybersecurity technology was unnecessary. Or maybe you actually had cybersecurity measures in place that failed.

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Cybersecurity AI Ransomware Phishing 49

Fintech News

MARCH 20, 2024

Factors such as the unbanked population, system outages, cybersecurity threats, and the rise of fintechs pose significant barriers to this connection, underscoring the urgent need for banks to fortify their operational resilience (OpRes) and Information Technology resilience (ItRes).

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Cybersecurity On-Demand Database Automation 114

The Fintech Times

JUNE 20, 2024

No bank is immune to this threat, with ransomware attacks on financial services increasing from 55 per cent in 2022 to 64 per cent in 2023. So what can firms do to better mitigate this risk? Moreover, The Information Commissioner’s Office has sounded the alarm, urging organisations to bolster their cybersecurity defences.

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Risk Cybersecurity Data Breach Ransomware 59

PYMNTS

MAY 15, 2017

The news that hit Friday afternoon that malware and ransomware were racing across the globe at a breakneck pace, infecting computers at companies across verticals and causing havoc, brought cybersecurity to top of mind, yet again. . Talk about timely. And yet, even as technology advances, one size does not fit all, the duo agreed.

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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 There is a vast market for mitigating attacks in progress and for defending against threats, both new and established, that grow in severity by the day.

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PYMNTS

JANUARY 23, 2020

Among the most troubling examples of this is in the case of ransomware, in which cyberattackers require ransom to be paid in a digital currency. “We have seen over the last couple years a major upswing in ransomware events affecting our insurance claims, and the vast majority are demanding payment in some sort of cryptocurrency.”

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Ransomware Cryptocurrency Small Business Risk 58

PYMNTS

MARCH 31, 2017

It can be difficult to know how to handle cybercriminals and their malicious attacks, especially when many people don’t have a foundational knowledge on what cybersecurity is all about. Cybersecurity Knowledge Put to the Test. Want to know how much Americans actually know about cybersecurity? The answer … not much.

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Bitcoin Ransomware Cybersecurity Money Laundering 42

The Finance Weekly

DECEMBER 30, 2021

Moreover, how do you ensure data quality, security, and privacy as cybersecurity breaches stubbornly persist? Malware attacks, especially ransomware attacks, are on the rise. The following are a few practical considerations as waves of new technology continue coming our way.

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Technology MSPS Small Business Data Security 130

PYMNTS

OCTOBER 19, 2018

The Nationwide fourth annual business owner survey released at the end of last month, which surveyed 1,000 small and mid-sized business owners about their views on cybersecurity, found that an overwhelming majority – 91 percent – use connected technology. For smaller firms, the IoT has its lures and its dangers.

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Risk Security Ransomware On-Demand 76

PYMNTS

MAY 13, 2019

The city of Baltimore fell victim to a ransomware attack last week , as researchers began to dive into the risks of local-level government systems. The data represents one of the first efforts by the cybersecurity industry to analyze such attacks, as the FBI and federal government authorities do not track local-level government incidents.

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PYMNTS

AUGUST 22, 2016

Cybersecurity software provider ID Experts announced late last week that it closed a $27.5 “This investment validates the demand for technology and services that mitigates the risk of cyberbreaches and resulting identity fraud,” Bob Gregg, CEO of ID Experts, said in a press release. million round of equity funding.

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Cybersecurity Ransomware Mitigation On-Demand 40

PYMNTS

SEPTEMBER 14, 2020

B2B Software-as-a-Service company Blackbaud recently notified its customers that in February of this year it fell victim to a ransomware attack and was not aware of the issue until about three months later. Cybersecurity experts at Breach Clarity now peg the number of clients impacted at 136.

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Breach Multifactor Authentication Ransomware Email Compromise 52

PYMNTS

DECEMBER 30, 2016

But, Vigue added, 2017 will be a year of continued innovation in the technology that can prevent, detect and mitigate a corporate cyberattack. What cybersecurity threats will impact corporate buyers and suppliers in 2017? In addition, the battlefield is evolving.

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Checks Email Compromise Security Compromise 58

PYMNTS

MARCH 17, 2017

In this week’s Hacker Tracker , PYMNTS was joined by Andrew Douthwaite, VP of Managed Services for VirtualArmour , who shared insights on some of the biggest news hitting the cybersecurity space this week. It seems as though the trend of ransomware attacks isn’t disappearing any time soon. Cyberattack Hits Canadian Agency.

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Breach Ransomware Disaster Recovery Cybersecurity 40

PYMNTS

JANUARY 13, 2017

Though the companies have since worked to address the vulnerabilities and mitigate ongoing risk, Digital Shadows CTO and cofounder James Chappell told PYMNTS that the threat is just an indication of what’s to come in the world of cybercrime. Ransomware is not going away in 2017; it’s very much here to stay,” he added.

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ATM Cybersecurity Ransomware Compromise 46

Fintech Finance

MARCH 20, 2024

Our state-of-the-art fraud solutions help Network International safeguard their business, protect transactions, and take a forward-looking approach to mitigate the risks of today and tomorrow,” said Mete Güney, Executive Vice President, Services, EEMEA, Mastercard. “As trillion by 2025.

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AI Fraud Prevention Visa Fraud Detection 52

PYMNTS

AUGUST 9, 2018

billion a year and ransomware results in $1 billion in criminal earnings. Corporates around the world are expected to spend an estimated $96 billion on cybersecurity efforts this year, but with cybercriminals continuing to rake in the money, that spend may be in vain. “It means they’re going out and registering domains. .”

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Law Enforcement Data Breach Cybersecurity Breach 41

EBizCharge

OCTOBER 25, 2023

Now more than ever, businesses are focusing on preventing data breaches and implementing response protocols to mitigate breaches if they occur. Malware attacks, such as ransomware and viruses, infect systems through malicious software or email attachments. million this year, up 15% over the last three years.

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Data Breach Best Practices Breach Phishing 52

The Fintech Times

JULY 30, 2024

It revealed that these technologies may be helping put time back on defenders’ side by improving threat mitigation and remediation activities. By bringing in law enforcement, ransomware victims saved on average nearly $1million in breach costs compared to those who didn’t – that savings excludes the ransom payment for those that paid.

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Data Breach Breach AI Law Enforcement 59

PYMNTS

JULY 14, 2017

The WannaCry ransomware in May crippled hospitals, railways and government in more than 150 countries: the biggest cyberattack on the books, affecting hundreds of thousands of computers. At least one nuclear plant was among the intended targets, said the Department of Energy, which is helping to mitigate the impact.

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Data Breach Breach FBI Ransomware 47

Segpay

JUNE 13, 2024

This underscores why businesses must implement robust cybersecurity measures to guarantee secured transactions in this digital landscape. SMBs also fall victim to cyber criminals, as many lack the resources and knowledge to set up threat mitigation strategies, leaving them vulnerable to attacks. The Travelex ransomware attack.

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