Global Fintech & Digital Assets

DECEMBER 11, 2023

The changes impose more demanding requirements for larger entities, new obligations to report ransomware incidents and payments, and expanded oversight responsibilities for board and senior management. The Amendments also require a covered entity to report within 24 hours any extortion payment made in response to a ransomware attack.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

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. Blackbaud's data breach isn't unique, per se.

Breach 52

Breach Multifactor Authentication Ransomware Email Compromise 52

The Payments Association

JANUARY 14, 2025

Data breaches and ransomware attacks were also flagged as significant risks. The introduction of strong customer authentication (SCA) was intended to enhance safety by requiring multifactor authentication for transactions. However, it has also sparked concerns about increasing friction, which can deter user adoption.

Fraud Prevention 88

Fraud Prevention Financial Crimes Crime Participant 88