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.

Ransomware

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

Ransomware

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. companies’ cybersecurity measures.

Cybersecurity

PYMNTS

APRIL 12, 2019

What’s clear is that GDPR intends to protect data, and researchers have already found a correlation between GDPR-compliant businesses and lower rates of data breaches – perhaps the result of organizations’ prioritizing and investing more in cybersecurity and data protection initiatives to become compliant.

Cybersecurity

PYMNTS

APRIL 29, 2019

To those who understand the importance of cybersecurity, and the monumental risks that growing cyberthreats impose on organizations, safeguarding systems and data may be assumed to go hand in hand with digital transformation. ” Taking Action. ” Taking Action.

Cybersecurity

PYMNTS

DECEMBER 5, 2017

When a company is hit by ransomware, the cost of paying the ransom is rarely, if ever, the full cost of the cyberattack. And while most said they acknowledged ransomware as a significant threat, less than half said they were confident they would be able to deal with a ransomware attack.

Ransomware

PYMNTS

SEPTEMBER 30, 2019

Maersk Chief Technology and Information Officer Adam Banks spoke earlier this month at a cybersecurity conference, reflecting on that 2017 attack and noting that the company was “not unusually weak,” and adding that this is a fact for many organizations that can, unfortunately, lead to a false sense of security.

Cybersecurity

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

Ransomware

PYMNTS

FEBRUARY 20, 2019

Cybersecurity experts are urging small business (SMB) owners to not ignore the risks they face from cyberattacks. The service includes educational materials as well, like training videos and guidance on internal cybersecurity policy development. In a press release on Tuesday (Feb. In a press release on Tuesday (Feb. Education Is Key.

Cybersecurity

PYMNTS

JUNE 15, 2018

From warehouse robots to R&D analytics, the B2B startups covered in this week’s VC Investment roundup scored close to $200 million from investors. Logistics and alternative finance were high on the board, but it was a cybersecurity company in the U.S. PYMNTS breaks down the latest B2B startups to secure funding rounds below.

Cybersecurity

PYMNTS

SEPTEMBER 13, 2018

Issues like phishing and the Business Email Compromise (BEC) are top concerns, yet ransomware cannot be ignored as a destructive force. In a survey of 1,700 managed service providers (MSPs) that work with a combined 100,000 SMBs, Datto found that 99 percent of respondents agree ransomware attacks will probably pick up this year and next.

Ransomware

PYMNTS

MAY 21, 2018

New research from the NTT Security 2018 Global Threat Intelligence Report, released last week by Dimension Data , found a sharp increase in ransomware attacks aimed at supply chains last year. But according to the report, the trade secrets and intellectual property that fill supply chains have emerged as key targets for ransomware attackers.

Ransomware

PYMNTS

DECEMBER 6, 2017

A new cybersecurity solutions company has launched this week. In addition to its official start of operations, Coalition also said it is now offering cyber insurance products to SMBs in addition to its cybersecurity offerings. Cybersecurity is broken,” said Coalition CEO Joshua Motta in a statement.

Cybersecurity

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

PYMNTS

MAY 17, 2017

If you’re one of the many, many companies recently targeted by WannaCry , you’ve just been handed a harsh reality check in the importance of enterprise cybersecurity. Maybe you had ignored previous warnings or felt cybersecurity technology was unnecessary. Or maybe you actually had cybersecurity measures in place that failed.

Cybersecurity

PYMNTS

MAY 1, 2018

Enterprise software suite Microsoft 365 Business is adding enhanced cybersecurity solutions for small business (SMB) users, Microsoft announced ON Monday (April 30). The company is introducing added features to protect SMBs against phishing and ransomware.

Ransomware

PYMNTS

JUNE 1, 2020

Google issued a stark warning last week about the state of cybersecurity: Phishing attacks are on the rise and continue to take advantage of vulnerabilities resulting from the global pandemic. The warning coincided with separate reports related to Google and cybersecurity. said recently.

Phishing

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. B2C Brands’ B2B Risks. The New York Times reported Sunday (Feb.

Phishing

PYMNTS

OCTOBER 15, 2018

AG Frosh’s warning pertained to a specific small-business cybersecurity threat. 133,000: the average cost of a ransomware attack on a small business. Cyberattackers may send ransomware via email with links that will lock out a device owner’s access to files when that link is clicked.

Ransomware

PYMNTS

JULY 22, 2019

Last month, the city of Riviera Beach, Florida, was crippled by a ransomware attack that led to it paying a hefty sum to recover government systems. Ransomware attacks are on the rise within local and state governments, he added, leading to revived debate about how to handle such a scenario. . What’s the alternative?” .

Governance

PYMNTS

FEBRUARY 24, 2020

This week’s B2B Data Digest takes a look at the latest data points behind more cases of B2B payments fraud. 41 percent more ransomware attacks were initiated last year , the New York Times reported, citing data from Emsisoft, with 205,280 businesses losing access to their data as a result.

Business Email Compromise

PYMNTS

JULY 30, 2019

Most recently, a string of ransomware attacks hit local government entities that ultimately decided to pay off the attackers to regain access to computers. Analysts warned that local and state-level governments, much like small businesses, often lack the sophisticated cybersecurity technology required to avoid such attacks in the first place.

Data Breach

PYMNTS

DECEMBER 30, 2016

Mike Vigue, vice president, product strategy, cyberfraud and risk management at B2B payments firm Bottomline Technologies , warns that ongoing use of paper checks, fraudulent emails and general ignorance of cyberthreats will continue to place businesses — and their payment activities — at the center of thieves’ targets.

Checks

PYMNTS

JUNE 14, 2016

Researchers at Citrix this month found evidence that businesses are shoring up reserves of bitcoin so they can pay ransoms as quickly as possible should they be hit with ransomware. businesses – one-third said they were shoring up bitcoin in case of a ransomware attack, according to reports.

Bitcoin

PYMNTS

APRIL 30, 2018

With a threefold increase in the number of corporates who had been hit by a ransomware attack in the last year compared to a year prior, corporate treasurers have been forced to swallow the large, uncomfortable pill of the threat of cyberattacks and fraud on their organizations in a short amount of time. “There is a lot more to be done.”

Email Compromise

PYMNTS

AUGUST 8, 2018

Warnings from the Federal Bureau of Investigation have enterprises worried about cybersecurity — specifically, concerns about ransomware attacks. Phishing emails — 93 percent of which include ransomware, according to ITProPortal — should by no means be ignored. Compare that to ransomware, which made up just 11 percent.

Ransomware

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. Cybersecurity experts at Breach Clarity now peg the number of clients impacted at 136.

Breach

PYMNTS

JANUARY 23, 2020

Among the most troubling examples of this is in the case of ransomware, in which cyberattackers require ransom to be paid in a digital currency. “We have seen over the last couple years a major upswing in ransomware events affecting our insurance claims, and the vast majority are demanding payment in some sort of cryptocurrency.”

Ransomware

PYMNTS

AUGUST 9, 2019

The government reportedly temporarily shut down the platform in the wake of the cyberattack upon advice from cybersecurity experts. ransomware attacks have recently hit two Florida city government systems, followed by an attack on an Indiana city. The case has also been reported to the Indian Computer Emergency Response Team (CERT-In).

Ransomware

PYMNTS

MAY 13, 2019

The city of Baltimore fell victim to a ransomware attack last week , as researchers began to dive into the risks of local-level government systems. The data represents one of the first efforts by the cybersecurity industry to analyze such attacks, as the FBI and federal government authorities do not track local-level government incidents.

Cross-Border

PYMNTS

AUGUST 13, 2019

Amid the growing list of cybersecurity concerns businesses must keep on top of, payroll is a growing target for attackers both inside and outside the enterprise. The latest cases of payroll-related cyber incidents reveal the vulnerabilities of the financial process of compensating employees.

Payroll

PYMNTS

JANUARY 19, 2020

The ransomware attack on Dec. The city is adding more protections for the network, in addition to a dedicated cybersecurity team. Louisiana was also hit by cyberattacks in July and November, including a ransomware attack. The online system for business permits and licenses is anticipated to be available to the public by Jan.

Ransomware

PYMNTS

MAY 2, 2019

Organizations are ramping up cybersecurity investments in response to the ever-climbing threat of data breaches and cyberattacks. The company commissioned Spiceworks to survey 600 security and IT leaders about their biggest concerns and areas of focus in supply chain cybersecurity. million business email compromise scam.

Data Breach

PYMNTS

JUNE 24, 2020

Nium, formerly known as InstaReM, is rolling out a new B2B solution designed to help small businesses access credit from their card products. Financially, Cognizant said it estimates the impact of the ransomware attack could be between $50 million and $70 million. Nium Uses Cards For Credit.

Commercial Card

PYMNTS

AUGUST 18, 2017

Insurance broker Kingsbridge, which services contractors and corporates, is adding a cybersecurity tool into its offering. Kingsbridge’s Cyber Liability coverage provides about $32,000 to businesses in the event of ransomware or cyber extortion, and an additional amount for regulatory penalties. The company announced Friday (Aug.

Ransomware

PYMNTS

SEPTEMBER 14, 2017

The problem persists, and evidence suggests it’s getting worse, with recent research from TD Bank revealing news that 91 percent of survey respondents expect B2B payments fraud and invoice scams like business email compromises to increase in the coming years. billion in total losses since 2013.

Scams

PYMNTS

JULY 3, 2019

In recent years, though, accounts payable and B2B payments technology has progressed to introduce new ways to strengthen cash positions.

Payment APIs and Integration