The Fintech Times

APRIL 11, 2024

Phishing attacks continue to plague businesses, with as much as 94 per cent of companies falling victim to this type of cybercrime in the past year alone, according to the latest Egress ‘Email Threat Landscape 2024’ report. Repercussions extend beyond financial losses, significantly impacting individuals within organisations.

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Phishing Cybersecurity Compromise Ransomware 69

The Fintech Times

FEBRUARY 9, 2024

AI-enhanced attacks are on the rise, leaving many organisations’ cybersecurity unprepared for the volume of new challenges; reveals cyber protection firm, Acronis , in its latest cyber threats report. In fact, it found that AI-enhanced phishing affected 91.1 The post 91.1%

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Phishing AI MSPS Ransomware 72

VISTA InfoSec

OCTOBER 21, 2024

Common threats for SMEs include phishing, malware, insider threats, and social engineering. SMEs face numerous cyber security threats that can jeopardize their operations and financial stability, with phishing attacks, malware, and ransomware being among the most common. Let’s get started.

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Security Phishing Ransomware Risk Assessment 130

PYMNTS

DECEMBER 28, 2020

As the distribution of the COVID-19 vaccine continues to roll out to medical workers and high-risk populations, the Financial Crimes Enforcement Network (FinCEN) is asking financial institutions to be extra vigilant when it comes to cybersecurity. .

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Fincen Suspicious Activity Report (SAR) Scams Federal Trade Commission 127

The Fintech Times

DECEMBER 11, 2023

Today, we bring you insights from industry leaders regarding the changing dynamics of cybersecurity threats and trends in 2024, including AI’s impact, behavioural biometrics, fraud prevention, masking and enhanced security for financial services. In turn, this often leads to the reuse of the same password across multiple platforms.

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Cybersecurity Ransomware Authentication AI 107

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. companies’ cybersecurity measures.

Cybersecurity 68

Cybersecurity Research Phishing Breach 68

PYMNTS

JANUARY 23, 2020

Many of these data breaches are the result of phishing, which dupes victims into giving up login credentials or other sensitive information that is either used for account takeovers or sold on dark-web marketplaces. How DocuSign Ices Out Phishing Attacks. Deep Dive: Businesses Struggle With Employee Phishing. million per breach.

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Phishing Data Breach Breach Scams 64

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. On July 4, hackers announced they’d used Nefilim Ransomware to access the Orange server, gaining data on the company’s Orange Business Solutions division.

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Ransomware Phishing Encryption Data Breach 60

PYMNTS

FEBRUARY 11, 2020

New data was released this week with an urgent, albeit not necessarily unexpected, message: ransomware and other phishing attacks continue to dramatically spike, with more frequent and more expensive attacks hitting businesses and government entities of all sizes. The New York Times reported Sunday (Feb. as to which services we use.”

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Phishing PayPal Ransomware Cybersecurity 58

PYMNTS

JUNE 1, 2020

Google issued a stark warning last week about the state of cybersecurity: Phishing attacks are on the rise and continue to take advantage of vulnerabilities resulting from the global pandemic. The warning coincided with separate reports related to Google and cybersecurity.

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Phishing Continuity Data Breach Cybersecurity 59

PYMNTS

APRIL 12, 2019

What’s clear is that GDPR intends to protect data, and researchers have already found a correlation between GDPR-compliant businesses and lower rates of data breaches – perhaps the result of organizations’ prioritizing and investing more in cybersecurity and data protection initiatives to become compliant.

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Cybersecurity Data Breach Breach Legal Framework 77

PYMNTS

DECEMBER 11, 2019

Cybersecurity company Kaspersky is reporting there has been an uptick in ransomware attacks this year, with many specifically targeting municipalities and their subset organizations. However, those numbers don’t show the accurate number of damage, and the longer-term consequences of the ransomware actions are more devastating. .

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Ransomware Cybersecurity Phishing Audit 52

PYMNTS

OCTOBER 19, 2020

Disguising itself as a commonly used video conferencing tool, Vizom spreads through phishing campaigns. Treasury Office of Terrorism and Financial Intelligence issued an alert about the surge in ransomware attacks. Ransomware attacks jumped 37 percent last year, with losses up 46 percent, according to FBI statistics.

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Ransomware FBI Phishing Treasury 123

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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Ransomware APACS Cybersecurity AI 82

PYMNTS

APRIL 4, 2019

The latest research in small business cybersecurity has revealed the relentless nature of the threat, with new strategies emerging and new strains of ransomware rearing their ugly heads. As a result, 71 percent of ransomware attacks are now targeting small businesses, according to a report released by Beazley Breach Response (BBR).

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Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

APRIL 28, 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.

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Ransomware End User Crime Authentication 62

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 In many cases, experienced or tech savvy users can spot a phishing email scam from a mile away. Money On The (Cybercriminal) Brain.

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Phishing Ransomware EMV CHIPS 45

PYMNTS

AUGUST 21, 2018

organizations fall victim to ransomware attacks every minute — and more than $1 million is lost each minute due to cybercrime. “These attackers target brands and consumers on the open web with tactics like phishing, spinning up malicious mobile apps, hacking third-party suppliers and directly compromising websites.”

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Ransomware Phishing Compromise Credit Cards 53

PYMNTS

SEPTEMBER 30, 2019

Visner of the National Cybersecurity Federally Funded Research and Development Center (FFRDC) — managed by nonprofit MITRE , in support of the NIST National Cybersecurity Center of Excellence — told Karen Webster that cybersecurity threats to institutions and enterprises exist at several levels. Unseen and possibly unknown.

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Cybersecurity Credential Encryption Phishing 65

VISTA InfoSec

JANUARY 29, 2024

Users are protected against phishing attacks through anti-phishing mechanisms. This includes viruses, worms, Trojans, spyware, ransomware, keyloggers, rootkits, and malicious code, scripts, and links. New requirement to identify and safeguard staff from phishing attacks. Our upcoming post will cover Requirement 6.

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PCI DSS Phishing Best Practices Procedures 130

PYMNTS

OCTOBER 12, 2020

The target was systems linked to the dissemination of Trickbot, a botnet that has been used by some sophisticated players since late 2016 to deploy ransomware , especially in attacks on financial institutions (FIs). Microsoft Corp. is well-known for making products to defend computers that run its software from attacks, but on Monday (Oct.

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FS-ISAC Ransomware Phishing Legal 93

PYMNTS

FEBRUARY 20, 2019

Cybersecurity experts are urging small business (SMB) owners to not ignore the risks they face from cyberattacks. The service includes educational materials as well, like training videos and guidance on internal cybersecurity policy development. In a press release on Tuesday (Feb. In a press release on Tuesday (Feb. Education Is Key.

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Cybersecurity Visa Data Breach Small Business 56

VISTA InfoSec

NOVEMBER 7, 2023

What is Cybersecurity? Put simply, cybersecurity is any security system that protects our digital assets. Ransomware : Malicious software that encrypts a user’s data, demanding payment in exchange for the decryption key. Despite its inherent simplicity, it adds a layer of defense that is hard to penetrate.

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Authentication MFA Cybersecurity Credential 130

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

SEPTEMBER 13, 2018

Issues like phishing and the Business Email Compromise (BEC) are top concerns, yet ransomware cannot be ignored as a destructive force. Of MSPs surveyed, about 75 percent said their SMB customers experienced “business-threatening” downtime as a result of a ransomware attack, said Datto’s chief technology officer, Robert Gibbons.

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Ransomware MSPS Disaster Recovery Cybersecurity 58

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

PYMNTS

AUGUST 8, 2018

Warnings from the Federal Bureau of Investigation have enterprises worried about cybersecurity — specifically, concerns about ransomware attacks. Phishing emails — 93 percent of which include ransomware, according to ITProPortal — should by no means be ignored. Compare that to ransomware, which made up just 11 percent.

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44

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. By comparison, phishing scams usually bring in between $300 – $500, while ransomware attacks cost around $4,400.

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Business Email Compromise FBI Email Compromise Scams 101

The Fintech Times

NOVEMBER 20, 2024

However, it is unfortunately being used by both sides as AI-assisted fraud is growing more frequent and more sophisticated according to a new report from the think tank that provides insights to help organizations protect themselves, adapt, and grow, The Entrust Cybersecurity Institute. per cent of attacks globally).

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Deepfake Phishing Account Takeovers AI 69

PYMNTS

JANUARY 14, 2019

Today’s coverage includes the latest move by Amazon to attract more consumers in India, and the latest on a global ransomware attack. in Ryuk Ransomware Attack. A team of cybersecurity firms has tracked the ransomware, which uses email phishing to inject a Trojan dubbed TrickBot into thousands of computers.

Ransomware 54

Ransomware Federal Reserve Cash Management Settlement 54

PYMNTS

AUGUST 13, 2019

Amid the growing list of cybersecurity concerns businesses must keep on top of, payroll is a growing target for attackers both inside and outside the enterprise. The latest cases of payroll-related cyber incidents reveal the vulnerabilities of the financial process of compensating employees.

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Payroll Direct Deposit Phishing Cybersecurity 60

PYMNTS

OCTOBER 15, 2018

AG Frosh’s warning pertained to a specific small-business cybersecurity threat. 133,000: the average cost of a ransomware attack on a small business. Cyberattackers may send ransomware via email with links that will lock out a device owner’s access to files when that link is clicked.

Ransomware 77

Ransomware Online and Mobile Banking Small Business Scams 77

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. Moreover, The Information Commissioner’s Office has sounded the alarm, urging organisations to bolster their cybersecurity defences. So what can firms do to better mitigate this risk?

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Risk Cybersecurity Data Breach Ransomware 59

PYMNTS

FEBRUARY 24, 2020

In a new report from ProofPoint , researchers warned that any businesses with the word “tax” in its domain is at risk of being spoofed by phishing attackers targeting small to medium-sized businesses (SMBs). Tax season is upon U.S. small businesses, and fraudsters are taking advantage.

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Business Email Compromise Scams Email Compromise Phishing 65

FICO

NOVEMBER 30, 2016

In my recent blog, “Real talk: The imminent and very real danger of IoT,” I wrote: Due to lack of security features, creating an IoT botnet is a great deal easier than phishing users to compromise PCs. Given the ease with which IoT devices can be hacked, we can expect more attacks to follow.

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AI Compromise Risk Assessment Assessments 108

PYMNTS

MAY 19, 2017

Last weekend, a major ransomware attack affected more than 200,000 computers in 150 countries across the globe. It is unusual for ransomware to have network worm capabilities,” Douthwaite said. In a nutshell, said VirtualArmor’s Douthwaite, it’s as simple as a lack of people using best cybersecurity practices.

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Ransomware Cybersecurity Bitcoin On-Demand 46

PYMNTS

SEPTEMBER 9, 2020

Bitdefender also said worldwide ransomware reports have surged by 715.08 The cybersecurity firm said a rise in malware, phishing and scams throughout every platform and attack vector appears to have been directly brought about by online criminals harnessing pandemic-related issues to take advantage of misinformation and worry.

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Ransomware Phishing Cybersecurity Scams 52