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Attack vectors across the banking, financial services and insurance industry operations, Source: Digital Threat Report 2024, CERT-In, CSIRT-Fin and SISA Phishing attacks surge In H1 2024, cybersecurity firm Kaspersky recorded more than 135,000 phishing attacks targeting Indias financial sector. In India, that amount stood at US$2.35
The Interstate Technology & Regulatory Council (ITRC) released new data on the state of cyberattacks and data breaches with some surprising news: data breaches were actually down in 2020 year-over-year. The scam involves sending a phishingemail claiming to be a Microsoft Office 365 update.
Business EmailCompromise (BEC) is a cyber threat that exploits the vulnerabilities of email communication. Perpetrators impersonate trusted entities, such as executives or vendors, employing social engineering techniques to coerce employees into compromising actions. What is Business EmailCompromise (BEC)?
149,000: the average cost of a data breach for a small-to-medium sized business , according to AppRiver. Even more troubling, however, is the cloud security company’s finding that most SMBs estimate the cost of a data breach to be just $10,000.
Business emailcompromise (BEC) attacks can be a major risk to businesses’ finances and reputations. Let’s look at what business emailcompromise attacks are and explore some of the many ways you can combat them. What Is a Business EmailCompromise Attack? Reported losses in 2020 exceeded $4.2
Phishing/vishing/smishing/pharming, non-payment/non-delivery, extortion and personal data breaches were among the favored attack patterns last year. A recent variation on the theme is vendor emailcompromise, where the hacker gains access, pretends to be a supplier and then slips into the payment flow to intercept payments from buyers.
As a result, 71 percent of ransomware attacks are now targeting small businesses, according to a report released by Beazley Breach Response (BBR). However, in addition to new computers, they have created new email domains, suggesting they will not give in to the attackers’ demands. New Attacks Emerge.
Research released only days ago from Centrify found that two-thirds of surveyed companies have experienced at least five security breaches in the past two years, while separate analysis from the Identify Theft Resource Center and CyberScout have pegged 2016 as a record year for cyberattacks in the U.S.
The latest report from the Identity Theft Resource Center (ITRC) and CyberScout finds a worrying trend: 2016 was a record year for data breaches, with businesses emerging as the largest target for hackers by far. 1,093 data breaches hit entities in the U.S. percent of the total 1,093 data breaches hitting U.S.
The high-profile data breach that hit Saks and Lord & Taylor was already eclipsed just days later when news of possible similar attacks at Best Buy, Delta and others hit headlines. Gartner research director Ruggero Contu cited high-profile attacks, like the Equifax breach , as a key motivator behind this spend.
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 EmailCompromise (BEC) to malware and ransomware attacks. In a press release on Tuesday (Feb.
This consumer concern translates to a decrease in confidence in large organizations—which is then exacerbated by data breaches and other security events. percent of total users) were affected by an emailphishing scam. percent of total users) were affected by an emailphishing scam. billion across organizations.
In other news of note from the Facebook space, it recently came to light that the social media giant, along with Google, were the heretofore unnamed victims of a combined $100 million phishing attack earlier this year. At the end of March , the U.S. The corporate victims, now known to be Facebook and Google, weren’t named at the time.
Its latest analysis, released in conjunction with the Identity Theft Resource Center, found an all-time-high number of data breaches, with 1,093 incidents recorded in 2016. But researchers questioned whether the increase is due to more breaches or simply more publicly available data on the topic.
In September, the consumer credit agency Equifax reported that the personal information of roughly 143 million Americans was compromised in a data breach of epic proportions. In an account takeover, a fraudster can take over a corporation’s financial account using phishing, spyware or malware. “At It was becoming an epidemic.”.
Those threats are vast, but Womply’s own research has found that most of these attacks are in the form of phishing and business emailcompromise (BEC) scams. On the other side of this coin is the cybersecurity threats that inevitably come with establishing a digital presence of any kind. ”
For example, in 2018, 23andMe entered a $300M deal to sell data to drug giant GlaxoSmithKline, while in 2019, MyHeritage experienced a data breach that exposed details from 92M+ accounts. Companies who commit to cybersecurity investment stop more attacks, find and fix breaches faster, and are able to reduce the impact of those breaches.
Treasury and Commerce departments are unable to protect their digital databases, lesser organizations would be seemingly hard-pressed to prevent similar security breaches. The group advised businesses of all sizes on ways to defend themselves against phishing schemes, malware attacks and other intrusions.
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