The Fintech Times

DECEMBER 18, 2023

They predict that social engineering attacks will surpass ransomware in 2024 due to increased sophistication, AI tools and emerging techniques, leading organisations to bolster cybersecurity defences with AI, scenario testing and multi-factor authentication. Governments worldwide have stepped up pursuit and punishment of ransomware gangs.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

PYMNTS

APRIL 21, 2020

Business email compromise (BEC), B2B phishing scams, synthetic identities, fake accounts and trillions of aid dollars flooding out at a time of maximum uncertainty make this a fraudster’s paradise.

Scams 63

Scams Automation Phishing Email Compromise 63

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.

Phishing 45

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.”

Ransomware 53

Ransomware Phishing Compromise Credit Cards 53

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).

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

DECEMBER 6, 2016

KnowBe4 , a security awareness training and simulated phishing platform provider, launched a new tool designed to help IT managers combat CEO fraud, or Business Email Compromise (BEC) as it is referred to by the FBI. KnowBe4’s tool, called Phishing Reply Tracking, tests if users will interact with hackers on the other end of a phishing email.

Phishing 67

Phishing Wire Transfer Email Compromise Business Email Compromise 67

PYMNTS

JUNE 4, 2020

universities have been the victims of ransomware attacks in the past week, according to Cointelegraph. The information comes from a ransomware gang, boasting that they successfully attacked the University of California San Francisco on June 3, the most recent attack.

Bitcoin 61

Bitcoin Ransomware Scams Phishing 61

PYMNTS

FEBRUARY 12, 2020

As for the scams themselves, those varied widely both in terms of tactics and targets. Phishing/vishing/smishing/pharming, non-payment/non-delivery, extortion and personal data breaches were among the favored attack patterns last year. And while the BEC is not the most common form scam, it is a lucrative one.

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

SEPTEMBER 8, 2020

949 gigabytes of confidential data have been accessed by ransomware attackers targeting IT distributor Ma Labs , reports in CRN said, an attack that has stalled the company's operations and left its customers in limbo. The average sought in a BEC scam is up from $54,000 in the first quarter of the year. $1 million per targeted attack.

Business Email Compromise 69

Business Email Compromise Ransomware Payee Overlay Service 69

The Fintech Times

AUGUST 14, 2024

Here they can be used to commit large-scale identity fraud by impersonating individuals in order to gain unauthorised access to systems or data, initiate financial transactions, or deceive others into sending money on the scale of the recent Hong Kong deepfake scam.

Deepfake 75

Deepfake AI Phishing Ransomware 75

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). Analysis of BEC complaints filed in 2019 found that BEC scams accounted for nearly half of the $3.5 Tax season is upon U.S.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

PYMNTS

DECEMBER 16, 2019

the FBI recently issued a warning for holiday shoppers of a new scam called eSkimming , in which cyber criminals hack into legitimate online retailer websites to steal shoppers’ credit and debit card details. 60 percent more ransomware attacks were recorded this year , new data from Kaspersky Labs found. In the U.S.,

Ransomware 59

Ransomware Cross-Border Cross-Border Payments Payroll 59

PYMNTS

AUGUST 8, 2018

Warnings from the Federal Bureau of Investigation have enterprises worried about cybersecurity — specifically, concerns about ransomware attacks. Business Email Compromise scams continue to grow and steal more corporate money than ever before. Compare that to ransomware, which made up just 11 percent.

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44

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. This could include staff falling victim to phishing scams or maliciously exploiting their access privileges. For banks, a successful cyber-attack can bring about monumental financial losses.

Risk 59

Risk Cybersecurity Data Breach Ransomware 59

PYMNTS

OCTOBER 15, 2018

The scam entails a scammer posing as a legitimate business partner or vendor, claiming over the phone that the SMB owes them money, then demanding payment in the form of a Green Dot card. “This is a scam, pure and simple. “This is a scam, pure and simple.

Ransomware 77

Ransomware Online and Mobile Banking Scams Small Business 77

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.

Ransomware 52

Ransomware Phishing Cybersecurity Scams 52

PYMNTS

AUGUST 13, 2019

In Arlington County, Virginia, government payroll systems were targeted in a phishing attack in July despite the county allocating $60,000 to educate government employees on how to spot and avoid a phishing scam email. Similar cases are arising in the private sector, too.

Payroll 60

Payroll Direct Deposit Phishing Cybersecurity 60

PYMNTS

NOVEMBER 4, 2019

But internal fraud is, of course, not the only risk businesses face, with this week’s B2B Data Digest also breaking down the latest numbers related to cyber fraud and business email scams attacking companies from the outside. 41,000: the average payout of a ransomware attack , new data from Coverware revealed.

Checks 40

Checks Scams Law Enforcement Ransomware 40

PYMNTS

MAY 8, 2017

O2 confirmed that some of its German customers had their accounts emptied by hackers after they fell victim to a phishing scam that stole their usernames, passwords, phone numbers and bank account details. The attack redirected incoming SMS messages for selected German customers to the attackers.”.

Accounts 43

Accounts Online and Mobile Banking Data Breach Breach 43

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.

Governance 40

Governance Government Law Enforcement Ransomware 40

PYMNTS

MAY 24, 2017

A ransomware attack, committed on a piece of malware called WannaCry or Wanna Decryptor, infected computers in more than 100 countries, all told. According to recent research , 71 percent of breaches occur using passwords that were either weak enough to be cracked by bad actors or stolen from an usually unwitting human via a phishing scam.

Authentication 40

Authentication Credential Ransomware Phishing 40

PYMNTS

JANUARY 30, 2017

Hacking, skimming and phishing attacks are once again the most common type of data breach attack, making it the eighth year in a row for this type of data breach, researchers said. Researchers found that businesses saw 45.2 percent of the total 1,093 data breaches hitting U.S.

Data Security 54

Data Security Governance Government Data Breach 54

FICO

MAY 19, 2020

We need to be proactive in our communications to customers around scams. 2) Top 5 Fraud Manager Considerations During COVID-19: Scams are now tailored, so we need to modify our strategies. 2) Top 5 Fraud Manager Considerations During COVID-19: Scams are now tailored, so we need to modify our strategies. by Adam Davies.

Account Takeovers 52

Account Takeovers Identity Theft Scams Financial Crimes 52

PYMNTS

FEBRUARY 20, 2019

Citing 2018 data from Verizon, Mastercard noted research that suggested the majority of cyberattacks are actually targeted at SMBs, ranging from phishing scams and the Business Email Compromise (BEC) to malware and ransomware attacks.

Cybersecurity 56

Cybersecurity Visa Data Breach Small Business 56

CoinRemitter

MAY 20, 2024

According to Business Standards, the losses due to crypto scams grew 54% in 2023. These wallets were connected to terror financing, scams, and sanctions violations. This blog will look at some essential strategies to secure your cryptocurrency wallets against hacks, scams, or any attacks. Instead, consider cold storage.

Scams 40

Scams Cryptocurrency Security Phishing 40

VISTA InfoSec

JUNE 18, 2024

Next, analyze potential risks like malware infections, phishing scams, or disgruntled team members leaking sensitive data. Implement a solid backup strategy to renew your operations after disruptive incidents like ransomware encryptions, hardware failures, or accidental deletions. Outdated software?

Data Security 208

Data Security Security Encryption Cybersecurity 208

PYMNTS

MAY 17, 2017

Just days before the ransomware attack launched, Versive , a data science and analytics firm formerly known as Context Relevant, released a new product, Versive Security Engine (good timing for businesses able to deploy it before WannaCry). These things actually play out over a period of months or years,” Polverari said.

Cybersecurity 49

Cybersecurity AI Ransomware Phishing 49

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.”

Phishing 58

Phishing PayPal Ransomware Cybersecurity 58

PYMNTS

AUGUST 9, 2018

billion a year and ransomware results in $1 billion in criminal earnings. Most of that can be traced back to trade on illegal online markets and intellectual property theft. Trading of stolen data is worth a cool $160 billion, crimeware-as-a-service makes criminals $1.6

Law Enforcement 41

Law Enforcement Data Breach Cybersecurity Breach 41

The Fintech Times

DECEMBER 11, 2023

“The potential for more realistic phishing attacks and the spread of disinformation, leveraging AI’s ability to mimic different personas convincingly, will be a part of this. “The ominous spectre of ransomware looms larger than ever, casting a long shadow over the digital landscape.

Cybersecurity 139

Cybersecurity Ransomware Authentication AI 139

PYMNTS

MARCH 3, 2020

Of all the dirty rotten scandalous schemes fraudsters get up to, one of the worst is the old “lonely hearts” scam, dressed up in smartphone attire. Dating websites and apps in the Netherlands have had a spate of this type of fraud in recent years, with victims handing over $4.1

Federal Trade Commission 53

Federal Trade Commission FTC Account Takeovers Ransomware 53

PYMNTS

JUNE 20, 2018

Business scams are nothing new. The actions come as the BBB debuted a report with results from a survey conducted among 1,200 SMBs across the nation, showing that scams are a growing risk for businesses. As many as 35 percent of firms were hit by ransomware attacks, and when ransoms were demanded, 12 percent opted to pay up.

Scams 45

Scams Phishing Federal Trade Commission Wires 45

PYMNTS

FEBRUARY 3, 2020

But cybercriminals — as the January 2020 edition of the PYMNTS Digital Fraud Tracker points out — have found municipalities, and have been enthusiastically moving through them as they’ve discovered municipal employees, unused to being targeted, make an excellent target for phishing attacks.

Security 94

Security Ransomware Phishing Cybersecurity 94

PYMNTS

JULY 13, 2018

It turns out companies are having some success in the everlasting battle against corporate fraud — in B2B, email phishing scams and supply chain attacks in particular. As pertains to supply chain risk, 49 percent said they’d prevented attacks there. Those companies, overall, according to the ThreatConnect study, saved $8.8

Risk 40

Risk Phishing Federal Trade Commission Debit Card 40