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The technology is enabling large scale impersonation scams, including executive-level business email compromise (BEC) attacks and misinformation campaigns. The 2025 Verizon DataBreach Investigations Report underscores the continued rise in vulnerability exploitation. In India, that amount stood at US$2.35 million in 2024, up 7.8%
The Interstate Technology & Regulatory Council (ITRC) released new data on the state of cyberattacks and databreaches with some surprising news: databreaches were actually down in 2020 year-over-year. 19 percent fewer databreaches occurred in the U.S. Canada, Australia and Europe, reports said.
As lawmakers ponder this risk, PYMNTS highlights some of the newest data points uncovered by researchers examining small business cybersecurity. 149,000: the average cost of a databreach for a small-to-medium sized business , according to AppRiver.
In Australia, news came that police have charged a quartet of alleged fraudsters with running a business email compromise (BEC) scam. The arrest came on the heels of an order in the United States earlier this month; Nigerian Emmanual Opara was sentenced in Manhattan federal court for also running BEC scams.
Phishing/vishing/smishing/pharming, non-payment/non-delivery, extortion and personal databreaches were among the favored attack patterns last year. And in that top three, the FBI noted, BEC (sometimes called EAC, or email account compromise) was the absolute leader in generating losses, representing about $1.77
Business email compromise (BEC) attacks can be a major risk to businesses’ finances and reputations. The report states that these victims mostly lost their money to BEC scams. The report states that these victims mostly lost their money to BEC scams. The most damaging form of BEC is account takeover (ATO) attacks.
Healthcare is another major industry that Whitney said is one of “the most at-risk for ransomware and databreaches” with federally mandated patient privacy requirements (HIPPA) being widely implemented and having a compliant IT security framework that is up to date and in place is essential.
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.
This consumer concern translates to a decrease in confidence in large organizations—which is then exacerbated by databreaches and other security events. From October 2013 through December 2016, a new report from the FBI suggests cybercriminals used business email compromise (BEC) scams to try and steal some $5.3
It’s been a big week in the broader cybersecurity realm, starting with a databreach of Sabre Corporation’s hospitality unit. BEC fraud has been on the rise across the globe, seeing a 45 percent spike quarter-over-quarter in Q4 2016, and costing the world billions. Ransomware, Cyberespionage On The Rise.
He described this as a “group of both business email compromise , BEC as it’s called, or CEO fraud.”. There may be light at the end of the tunnel, though, through the advancements of technology – and specifically, through Big Data and artificial intelligence. So beware, or at least view skeptically, what is in your inbox.
Past incidents from biotech and genealogy companies have dampened public trust in the privacy of health data. For example, in 2018, 23andMe entered a $300M deal to sell data to drug giant GlaxoSmithKline, while in 2019, MyHeritage experienced a databreach that exposed details from 92M+ accounts.
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