Fintech News

FEBRUARY 15, 2024

Despite the notable drop and improvements, the prominence of sanction-related transactions and the growth of ransomware attacks remain key challenges for the industry to tackle. This decrease could signal the start of a reversal of a long-term trend, and may imply that DeFi protocols are improving their security practices.

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VISTA InfoSec

JUNE 19, 2024

Despite these benefits, video communication has security risks, including the following: Phishing Attacks These attacks often manifest as seemingly legitimate emails, messages, or links, leading unsuspecting users to fraudulent websites. Choose platforms that provide regular security updates and patches to address emerging vulnerabilities.

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Risk Ransomware Phishing MFA 242

PYMNTS

DECEMBER 10, 2020

TSYS , a payment processing company, has suffered a ransomware attack and had some data posted online, according to a report from Krebs on Security. We experienced a ransomware attack involving systems that support certain corporate back office functions of a legacy TSYS merchant business," TSYS said in a statement to PYMNTS.

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PYMNTS

OCTOBER 29, 2020

A ransomware attack has infiltrated the healthcare system and affected five hospitals, the Associated Press (AP) reported. According to the alert, “malicious cyber actors” are targeting the sector with Trickbot malware, which is typically a precursor to ransomware attacks and data theft. hospitals and healthcare providers.”.

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PYMNTS

MAY 3, 2020

Corporate ransomware payment amounts rose sharply in the first quarter of this year, with a wave of coronavirus -related attacks and other peripherally-related cases because of complexities with shifting to remote work for many people, according to a Coveware blog post. Sodinokibi was the top type of ransomware on the market with 26.7

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PYMNTS

MARCH 20, 2020

Banking technology FinTech Finastra was hit with a security breach on Friday (March 20), and was forced to shutter key systems and send employees home, according to a report by KrebsonSecurity. We wish to inform our valued customers that we are investigating a potential security breach. At 3:00 a.m.

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PYMNTS

DECEMBER 26, 2018

According to one security expert, the answer is, unfortunately, yes. founder and managing director of cybersecurity venture firm AllegisCyber , and co-founder of DataTribe , a cybersecurity startup in Washington, D.C., Ackerman also warned that another wave of ransomware is expected to hit in 2019.

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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 We’ll continue to provide updates as we securely bring our systems back online.”. On Wednesday (Feb.

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PYMNTS

MARCH 26, 2020

Cybersecurity insurance company Chubb , which provides aid to companies affected by data breaches, has been hit by one itself, according to a report by TechCrunch. The company said it was looking into a “security incident” that involved unauthorized access with a third-party company. Zack did not say anything beyond that.

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PYMNTS

OCTOBER 12, 2020

With over 5,000 cybersecurity vendors in the U.S. But that problem could be a thing of the past thanks to the launch of the world’s first B2B cybersecurity marketplace that enables buyers to easily search, compare pricing and purchase the right IT solution in one place. Compliance Is Key. COVID-Era Changes.

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Cybersecurity B2B Email Compromise Business Email Compromise 83

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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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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PYMNTS

MARCH 9, 2017

A new report from CyberEdge Group, a research and marketing firm serving the cybersecurity industry’s top vendors, has found that ransomware incidents are at an all-time high, with one-third of victims paying the ransom associated with an attack. So all in all, it’s the best of times and the worst of times for security folks.”.

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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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VISTA InfoSec

JUNE 7, 2024

As flexible working arrangements become increasingly common across every industry, companies need secure, dependable ways to grant remote employees online access to company data, services, and applications. As businesses become more digital, their vulnerability to cybersecurity threats like data breaches and ransomware attacks also rises.

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PYMNTS

JANUARY 8, 2020

Travelex , a foreign exchange and payments company, was thrown into chaos around New Year’s after a ransomware attack locked up its systems, forcing employees to use pen and paper to take care of thousands of customers, according to a report by Reuters. Ransomware attacks against large corporations are becoming more and more common.

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PYMNTS

NOVEMBER 28, 2018

They also lack the finances to train staff, adopt cybersecurity technology, and implement sophisticated expertise to protect data. While small and mid-sized businesses (SMBs) must be diligent about data protection and cybersecurity, the professors suggest regulators design legislation proportionate to the size of the business.

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PYMNTS

DECEMBER 23, 2019

Mastercard is purchasing artificial intelligence (AI) and analytics startup RiskRecon to accelerate the development of cybersecurity solutions, Mastercard announced on Tuesday (Dec. Cyberattacks have become a critical issue for companies of all sizes and a threat to privacy and data security.

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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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PYMNTS

MARCH 4, 2019

Comcast announced Monday (March 4) that it has acquired BluVector, a company that uses advanced artificial intelligence and machine learning to provide cybersecurity protection to companies and government agencies. Together, Comcast and BluVector will work to expand BluVector’s current customer base and create new cybersecurity technologies.

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PYMNTS

OCTOBER 13, 2020

In other news, the G7 warned of the utilization of nefarious cyber-attacks – and ransomware, in particular — according to a Tuesday (Oct. The group said that ransomware incidents against banks, medical centers, educational institutions and other “critical infrastructure” in G7 nations has been increasing in scope, complexity and commonness.

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PYMNTS

JUNE 27, 2017

Wealthy countries with developed financial and payment infrastructures are most likely to have their data encrypted and held for ransom by cybercriminals, according to a recent report by global cybersecurity company Kaspersky Lab. Following a slight reprieve, 2017’s Q1 saw 218,625 mobile Trojan-Ransomware installation packages – 3.5

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PYMNTS

AUGUST 12, 2019

Cyber insurance claims are spiking as a new type of ransomware targets companies across the U.S. Cyber insurance security responder Tom Bennett of CFC Underwriting told the FT that claims surged in June and July. Cyber insurance security responder Tom Bennett of CFC Underwriting told the FT that claims surged in June and July.

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The Fintech Times

FEBRUARY 5, 2024

Despite many organisations putting forward a defensive stance that they will never pay out a ransomware attack, research from Cohesity , the AI-powered data and security firm, has revealed that over 97 per cent of UK firms have paid a ransom in the last two years.

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PYMNTS

SEPTEMBER 13, 2018

Ransomware attacks are often a small business owner’s worst nightmare. Unfortunately, experts don’t believe ransomware attacks will let up anytime soon, with recent research from Datto finding that these attacks cost small businesses $301 million worth of ransomware money in 2016.

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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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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. It explains that there is a lack of strong security solutions which would help detect the exploitation of zero-day vulnerabilities.

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PYMNTS

JUNE 21, 2017

A South Korea-based web hosting firm has fallen victim to ransomware. That’s not unusual in today’s cybersecurity climate, but what is unusual is how much the company is paying to regain control of its systems: $1 million. Reports Tuesday (June 20) said Nayana was hit by a ransomware attack on June 10. Nayana agreed to pay 397.6

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The Fintech Times

MAY 5, 2024

It hopes to do so with newly integrated features that build in loss prevention at no extra cost for policyholders: Breach & Attack Simulation (BAS): Resilience’s BAS tests enable organisations to validate security controls against up-to-date threat actor tactics and real-world techniques.

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Segpay

JUNE 13, 2024

This shows that as businesses and customers continue to rely on online payment systems the risk of falling prey to cyber security threats increases too. million is a constant reminder of why secure online payments are a priority for businesses and consumers who bank on online payments. The Travelex ransomware attack.

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PYMNTS

APRIL 12, 2019

The General Data Protection Regulation (GDPR) represented a new phase in data security and EU regulators’ approach to it. Such a scenario would leave the door wide open for data-controlling companies to send customer information to that criminal under the false pretense of regulatory compliance and data security.

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PYMNTS

JULY 28, 2017

With ransomware cyberattacks raging, companies and individuals have paid out more than $25 million during the course of the last two years in an effort to get their data back from hackers. To assess the costs of the cybersecurity breaches, the researchers used reports from victims, among other analysis, the report noted.

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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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PYMNTS

DECEMBER 7, 2018

Not to ruin your holiday spirit, but let’s start this story with the cold and brutal truth: One of the largest risks that payments and commerce operators face in 2019 is being called to account by government officials, regulators or media about a failure to secure their organizations from cyberattacks. and other places.

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PYMNTS

JUNE 2, 2017

Symantec, a cybersecurity firm that specializes in research and cloud-based security, released new insights surrounding financial malware and ransomware in its latest Internet Security Threat Report (ISTR). times more widespread, compared to ransomware. times more widespread, compared to ransomware.

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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. All of this data has flowed in as IBM Security reports another reason to be concerned about U.S.

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PYMNTS

APRIL 28, 2017

was the number one target for ransomware last year. This according to the latest volume of the Internet Security Threat Report published today by software company and security product provider Symantec. To start, ransomware threats escalated globally through 2016 in size, number and kind. In the U.S.,

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