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We Heart It Announces Data Breach From 2013

PYMNTS

We Heart It , the image sharing website, disclosed late last week that there was a potential cybersecurity breach that may have impacted more than 8 million accounts. In a blog post , the company announced news that the data breach may have happened several years ago, but that it was only recently alerted to the cyberattack.

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20 Payments Execs On COVID-19’s Ripple Effects – And Taming The Next Black Swan

PYMNTS

It used to be that the 2008 financial crisis was the quintessential black swan event — a perfect storm where banks, consumers, businesses and governments scrambled to address the widening fallout of the U.S. housing market. Risk can be mitigated through several areas of preparation, said those surveyed.

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Virus-Infected Laptop Sold As Artwork For $1.3M

PYMNTS

The laptop is a 2008 Samsung NC10-14GB 10.2-Inch In more serious cybersecurity news, Verizon reported at the end of last year that there were 2,216 confirmed data breaches across 65 countries, with 68 percent taking months for the companies to discover. Inch Blue Netbook running Windows XP.

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Fintech Review: A Guide

Fintech Review

The real explosion, however, began after the 2008 global financial crisis. As financial services shift online, platforms become targets for hackers, phishing attacks, and data breaches. The consequences of a breach go beyond financial loss they can erode trust and invite regulatory action.

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Cyber Risk: Businesses Show “Irrational Exuberance”

FICO

As a result, cyber insurers and the corporate customers they serve are in a quandary as to how to quantify, price and manage the risks and cost associated with data breaches, internal threats and a wide range of other cyber vulnerabilities. Sasha Romanosky , Policy Researcher, RAND Corporation.

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Data Dive Christmas Carol Edition: Bills, Bitcoin And Banks

PYMNTS

But that could change if the Senate can pass the Data Security and Breach Notification Act , which would require companies to report data breaches within 30 days. If an individual knowingly conceals a data breach, he or she could face up to five years in prison.

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Know Your Customer (KYC): What It Is and How to Comply

Stax

Of course, financial criminal activity doesn’t have to just lead to monetary loss—it could also lead to a data breach of customer information. Between 2008 to 2018, $26 billion was handed out in fines, with 91% coming from the U.S. Meanwhile, in the European Union, it’s estimated to cost between €715 billion to €1.87