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

MARCH 23, 2016

Another case of bitcoin ransomware has left one Kentucky hospital in an “internal state of emergency,” according to a report from Krebs On Security. Just yesterday (March 21) PYMNTS reported about a town that was being held hostage via a bitcoin ransomware attack. And last month?

Ransomware 42

Ransomware Bitcoin Encryption Law Enforcement 42

PYMNTS

SEPTEMBER 11, 2020

For example, in April 2020 a RaaS (Ransomware as a Service) group called Sodinokibi (a former affiliate with the GrandCrab RaaS group) stated that future ransom request payments will be in Monero (XMR) rather than bitcoin (BTC) due to transaction privacy concerns," the agency states in its RFP. Even the U.S.

IRS 96

IRS Cryptocurrency RFP Law Enforcement 96

PYMNTS

AUGUST 10, 2018

The Professional Golfers Association (PGA) of America has been hit with ransomware, with cybercriminals demanding a payment in bitcoin to a specific wallet address. The ransomware caused Atlanta’s courthouse documents, and services like payment processing, to become inaccessible. However, not everyone agrees.

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Ransomware Law Enforcement Encryption FBI 40

The Paypers

OCTOBER 18, 2016

(The Paypers) Law enforcement agencies from 13 countries have signed up to fight ransomware together with the private sector by joining the No More Ransom project.

Law Enforcement 28

Law Enforcement Laws Ransomware 28

PYMNTS

JULY 28, 2019

Federal law enforcement is helping in the investigation. The district staff reported this electronic viral attack to local law enforcement, state officials and the FBI. An investigation involving local, state and federal law enforcement is ongoing at this time.”. As a result, Gov.

Law Enforcement 64

Law Enforcement FBI Ransomware Laws 64

PYMNTS

JANUARY 27, 2020

BEC is not the only cyberattack causing corporate losses, however, as ransomware threats continue to ramp up as well. In Q4 2019, 104 percent more ransomware payouts were made than in Q3 , with the average payment during Q4 hitting $84,116, according to Coveware’s Q4 Ransomware Marketplace Report.

Business Email Compromise 71

Business Email Compromise Scams Ransomware Real Time Payments 71

PYMNTS

OCTOBER 23, 2019

As it recovers from a ransomware attack that started last week, business-to-business payments provider Billtrust is in its last stages of putting all of its systems online from backups. The company told customers in an e-mail that it was working with law enforcement as well as an outside security firm to look into the breach’s extent.

Ransomware 40

Ransomware Law Enforcement FBI Encryption 40

PYMNTS

NOVEMBER 7, 2016

Further, expect ransomware to catch up to distributed-denial-of-service (DDoS) attacks in prevalence. DDoS and ransomware will also be used to attack cloud-based data centers. Both criminal and more legitimate organizations are expected to utilize this particular form of cyberattack in 2017. The urgency is real.

Cybersecurity 81

Cybersecurity Ransomware Law Enforcement Security 81

The Paypers

JULY 25, 2016

(The Paypers) The Dutch National Police, Europol , Intel Security and Kaspersky Lab have joined forces to launch an initiative called ‘No More Ransom’, to fight ransomware together.

Law Enforcement 28

Law Enforcement Ransomware Laws Security 28

FICO

DECEMBER 23, 2020

Despite the enormous efforts banks put into AML monitoring, the effectiveness of the overall system to combat financial crime is disappointingly low: for example, only 4% of SARs prompt law enforcement inquiry. There Will Be More Ransomware Attacks and Potential Sanctions Risk Implications.

Financial Crimes 52

Financial Crimes Ransomware Crime AI 52

PYMNTS

OCTOBER 1, 2020

Mitiga is working with law enforcement after uncovering a widespread business email compromise (BEC) scam that has netted more than $15 million. According to a PYMNTS report, there were 33 percent more ransomware payments made by businesses during the first quarter of 2020.

Business Email Compromise 73

Business Email Compromise Scams Email Compromise Wire Transfer 73

PYMNTS

JANUARY 7, 2020

s National Cyber Security Centre (NCSC) and regulators with the Financial Conduct Authority were already looking into the cyberattack, with the NCSC saying it would work closely with law enforcement. Cybersecurity company McAfee had previously linked Sodinokibi attacks to Iran.

Ransomware 52

Ransomware Law Enforcement On-Demand Cybersecurity 52

PYMNTS

APRIL 13, 2020

Fraud was all over the headlines this past week, with top stories related to Travelex’s ransomware payment , Luckin Coffee’s internal accounting fraud investigation, and new research anticipating an ongoing surge in payments fraud.

Business Email Compromise 63

Business Email Compromise Email Compromise Scams Law Enforcement 63

PYMNTS

JANUARY 17, 2017

In late December, Los Angeles Valley College found itself to be the latest victim of a ransomware attack — when malicious software is used by to block access to files until demands are met. In consultation with district and college leadership, outside cybersecurity experts and law enforcement, a payment of $28,000 was made by the district.

Bitcoin 43

Bitcoin Ransomware Law Enforcement Cybersecurity 43

PYMNTS

JULY 28, 2017

North Korean cyberattackers are also thought to be behind this year’s WannaCry global ransomware attack. According to South Korean officials, the attempts — which netted several thousand dollars — were withdrawn before South Korean law enforcement identified the ruse after six days.

Law Enforcement 46

Law Enforcement Accounts Ransomware Laws 46

PYMNTS

DECEMBER 22, 2016

According to the research, 70 percent of companies say they pay up when targeted by a ransomware attack — an attack in which hackers take corporate data hostage unless the victim pays a ransom — despite the FBI advising organizations not to do so, reports by CyberScoop said last week. companies’ cybersecurity measures.

Cybersecurity 68

Cybersecurity Research Phishing Breach 68

The Fintech Times

JULY 30, 2024

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. Most ransomware victims (63 per cent) who involved law enforcement were also able to avoid paying a ransom.

Data Breach 59

Data Breach Breach AI Law Enforcement 59

PYMNTS

AUGUST 21, 2017

The black market took a hit when, in July, law enforcement took down two of the biggest dark web marketplaces, AlphaBay and Hansa Market. On the dark web, some of those false listings come from law enforcement trying to bait criminals. It’s not that these sites didn’t have security or verification before.

Law Enforcement 45

Law Enforcement Laws Verification Void 45

PYMNTS

OCTOBER 18, 2019

Thus, for criminals, at times bitcoin and other cryptos are a conduit to money laundering, ransomware and, at times, just trying to hide in plain sight. As reported in chainalysis.com , a number of law enforcement agencies announced arrests and forfeitures tied to the crackdown on the site.

IRS 41

IRS Law Enforcement Bitcoin Money Laundering 41

PYMNTS

APRIL 29, 2016

The annual study found that hackers are continuing to rely on attack methods such as phishing and ransomware , both of which enable them to capitalize on the element of human error. For example, the study found that nearly 63 percent of confirmed data breaches involved using weak, default or stolen passwords.

Phishing 44

Phishing Data Breach Law Enforcement Ransomware 44

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

PYMNTS

AUGUST 15, 2017

This is a dramatic turn of events for the young hacker, who was briefly a hero after discovering the kill switch for the global ransomware attack “WannaCry” in May. Relationships between cyber researchers (“ethical hackers”) and law enforcement are already tense, they say, and this cybercrime news can only make it worse.

Law Enforcement 44

Law Enforcement Cybersecurity FBI Ransomware 44

PYMNTS

FEBRUARY 3, 2017

Although the details have yet to be released, it’s believed that an employee’s computer was exposed to the ransomware through a phishing scam or by accidentally downloading it. The servers have now been locked up, and the FBI and Bureau of Criminal Investigation have been notified. We’re dealing with a criminal element.

Government 40

Government Governance Law Enforcement Ransomware 40

PYMNTS

MAY 23, 2017

And as law-enforcement tries to stay a step ahead of bad actors, it comes as no surprise that airports around the globe are investing in new biometric technology to authenticate and identify travelers before they board planes or pass through customs — and digital identity providers are looking to cater to this growing demand.

Authentication 44

Authentication Ransomware Credential Law Enforcement 44

PYMNTS

MARCH 29, 2018

Law enforcement in South Korea is looking into Youbit, the South Korean bitcoin exchange that was the subject of a heist that brought the exchange down, and are investigating the prospect that North Korea may have been involved. North Korea has denied it is involved in any of the recent hacks.

Law Enforcement 40

Law Enforcement Bitcoin Cryptocurrency Ransomware 40

PYMNTS

AUGUST 9, 2018

billion a year and ransomware results in $1 billion in criminal earnings. Those capabilities certainly are valuable to the cybersecurity world, especially to law enforcement, as regulators are constantly sprinting to design legislation appropriate for the constantly evolving world of cyberattacks. ”

Law Enforcement 41

Law Enforcement Data Breach Cybersecurity Breach 41

PYMNTS

JUNE 20, 2016

The data led industry experts to warn companies that they should report cybercrime as soon as possible to law enforcement, though some officials agree that the mechanisms to report such crimes are far from straightforward and streamlined. billion in losses hit U.K. Like in the U.S., fraudsters are targeting U.K.

Email Compromise 41

Email Compromise Bitcoin APACS Wire Transfer 41

PYMNTS

JULY 28, 2017

Even more ironically, T-Systems has, in the past, sponsored an “ethical hacking” contest and now seems interested in collaborating with the teen, despite having turned him over to law enforcement for committing fraud. He’d probably have more fun at the U.K.’s s cybersecurity rehab camp. In other news….

Cybersecurity 44

Cybersecurity Data Breach Law Enforcement Breach 44

EBizCharge

OCTOBER 25, 2023

Malware attacks, such as ransomware and viruses, infect systems through malicious software or email attachments. You likely need to report the breach to law enforcement, business partners, investors, affected businesses and customers, and anyone who may have had their data exposed.

Best Practices 52

Best Practices Data Breach Breach Phishing 52

PYMNTS

MAY 15, 2017

The massive wave of crypto-ransomware cyberattacks now reported to have hit more than 200,000 computers in 150 countries shouldn’t be just another “look at how smart and cunning and horrible those cybercriminals are” headline. That was also about the same time that we began to see the spike in cyberattacks linked to ransomware.

Bitcoin 62

Bitcoin Ransomware Multi-Currency Regulations 62

PYMNTS

MARCH 7, 2019

As the crypto market expands, Canadian policymakers and law enforcement officials need to leverage external parties who specialize in blockchain forensic analysis if they intend to build resistance to illicit activity,” said Dina Mainville, CipherTrace sales director for Canada, in a press release.

Bitcoin 59

Bitcoin Ransomware Law Enforcement Blockchain 59

PYMNTS

NOVEMBER 4, 2019

41,000: the average payout of a ransomware attack , new data from Coverware revealed. In its announcement of the new research, the ETA also called on the Canadian government to introduce a tax incentive for small businesses to obtain cyber insurance and boost their cyber resilience.

Checks 40

Checks Scams Law Enforcement Ransomware 40

PYMNTS

APRIL 11, 2019

Qaiser’s ransomware then would display a message designed to mimic the look and feel of a communication from law enforcement, a message that said the person on the other end had broken the law by accessing online pornography. Ransomware Trends. It was almost impossible to defend against.

Ransomware 51

Ransomware Law Enforcement Scams Authorization 51

PYMNTS

JULY 13, 2018

The findings from more than 350 surveyed show that 67 percent of respondents have blocked phishing attacks, 58 percent have halted ransomware attacks and 57 percent have halted insider attack efforts. As pertains to supply chain risk, 49 percent said they’d prevented attacks there. million over the last 12 months.

Risk 40

Risk Phishing Federal Trade Commission Debit Card 40

Fintech News

DECEMBER 19, 2024

High-profile law enforcement actions against cybercrime groups in 2024 are expected to intensify, potentially driving cybercriminals to invitation-only forums to evade detection. Ransomware groups may fragment into smaller, more agile units, making them harder to track and counter.

Ransomware 69

Ransomware Data Breach Database Law Enforcement 69

PYMNTS

JUNE 20, 2018

This past week saw the Federal Trade Commission (FTC) announce a new law enforcement initiative that focuses on bad actors who seek to commit crimes against small businesses. As many as 35 percent of firms were hit by ransomware attacks, and when ransoms were demanded, 12 percent opted to pay up. The U.S.

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Scams Phishing Federal Trade Commission Wire 45