Fintech News

MAY 1, 2025

Data from Verizon Businesss 2025 Data Breach Investigations Report reveal that system intrusion has risen considerably over the past four years, escalating to become the dominant threat pattern across APAC. In 2024, these attacks accounted for 20% of breaches in APAC, marking a 49-point decline from 69% back in 2020.

APACS 74

APACS Data Breach Breach Ransomware 74

Fintech Review

APRIL 20, 2025

It covers the tools, platforms, and strategies that defend against data breaches, fraud, identity theft, and financial disruption. Attackers pursue data, funds, and access to infrastructure. The risks range from phishing and account takeovers to ransomware and insider threats. What Is Cybertech?

Finance 59

Finance Security Fraud Detection Encryption 59

The Fintech Times

JULY 30, 2024

The cost of data breaches has been on a steady incline for the past decade. However, evidence from IBM , a multinational tech firm, suggests that in the next 10 years, breaches could cost a lot more as we just experienced the highest year-on-year jump in cyber attacks (10 per cent).

Data Breach 59

Data Breach Breach AI Law Enforcement 59

VISTA InfoSec

JUNE 7, 2024

It thus evaluates every new access individually to account for the possibility that previously authorized users have been compromised or organizational policies have changed. As businesses become more digital, their vulnerability to cybersecurity threats like data breaches and ransomware attacks also rises.

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Micro-Entry Data Breach Breach Cybersecurity 162

PYMNTS

SEPTEMBER 19, 2016

According to KPMG, over the past two years, 81 percent of health care organizations were the victims of cyberthreats or even had data compromised. More health care-related organizations are connecting to the internet for saving and sharing data but have poor cyberthreat monitoring, cybersecurity policies and data access controls.

Data Breach 79

Data Breach Breach Cybersecurity Ransomware 79

EBizCharge

OCTOBER 25, 2023

Now more than ever, businesses are focusing on preventing data breaches and implementing response protocols to mitigate breaches if they occur. According to the 2023 IBM Data Breach Report , the global average cost of data breaches was $4.45 What are data breaches?

Data Breach 52

Data Breach Best Practices Breach Phishing 52

PYMNTS

FEBRUARY 12, 2020

Phishing/vishing/smishing/pharming, non-payment/non-delivery, extortion and personal data breaches 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 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

SEPTEMBER 11, 2018

11) that the data breach at British Airways was due to credit card skimming installed by malware hackers. The researcher said the group was highly targeted in their approach, and that the British Airways breach was part of a broader plot to steal records from various websites. 21 to Sept. 5 and is now resolved.

Research 74

Research Data Breach Breach Credit Cards 74

PYMNTS

NOVEMBER 28, 2018

Their argument, reports in the Wall Street Journal said, is that small businesses are held to the same standards as large corporates when they suffer a data breach — even if the small business is found to not be at fault. One case, however, involved more than 35,000 compromised files.

Small Business 78

Small Business Cybersecurity Ransomware Compromise 78

FICO

NOVEMBER 30, 2016

In my recent blog, “Real talk: The imminent and very real danger of IoT,” I wrote: Due to lack of security features, creating an IoT botnet is a great deal easier than phishing users to compromise PCs. Given the ease with which IoT devices can be hacked, we can expect more attacks to follow.

AI 108

AI Compromise Risk Assessment Assessments 108

PYMNTS

APRIL 13, 2016

The report compares the impact of data breaches to an iceberg submerged underwater, with a huge ice mass lurking just below the surface. Just last month, the FBI issued a serious warning that the ransomware problem is likely to get much work before it gets better. All in, victims paid out about $24.1 million total.

Ransomware 43

Ransomware Data Breach FBI Breach 43

PYMNTS

MAY 2, 2019

Organizations are ramping up cybersecurity investments in response to the ever-climbing threat of data breaches and cyberattacks. But all the money in the world to secure an organization’s back office won’t necessarily help safeguard all company data. million business email compromise scam.

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

PYMNTS

OCTOBER 12, 2020

Healthcare is another major industry that Whitney said is one of “the most at-risk for ransomware and data breaches” 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.

Cybersecurity 83

Cybersecurity B2B Email Compromise Business Email Compromise 83

PYMNTS

JUNE 1, 2020

Its “Sector 17 – The State of Cybersecurity in the Legal Sector” analysis found that 100 percent of law firms surveyed around the globe had been targeted in a cyberattack, pointing to the industry’s $1 trillion market value, making it a prime target for data breaches, phishing attacks and other malicious online activity.

Phishing 59

Phishing Continuity Data Breach Cybersecurity 59

PYMNTS

JANUARY 30, 2017

This week’s data digest is all about, well, data. 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.

Data Security 54

Data Security Governance Government Data Breach 54

PYMNTS

DECEMBER 30, 2016

Bank heists and data breaches saw no shortage in 2016, and corporates large and small could no longer avoid the risk of a cyberattack. 2017 will see a continued rise in cybersecurity threats particularly around business email compromise , ransomware and malicious insiders. In addition, the battlefield is evolving.

Checks 58

Checks Email Compromise Security Compromise 58

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

PYMNTS

JUNE 24, 2020

Elsewhere, a cyberattack raises concerns about the vulnerability of employee data when commercial card information is compromised. All employees with an active company card have been notified of the data breach. Nium Uses Cards For Credit.

Commercial Card 52

Commercial Card Innovation Ransomware Card Issuer 52

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. The severity of the challenge is demonstrated in IBM ’s Cost of a Data Breach Report 2023 , which ranks data breaches in the financial sector as second only to the healthcare industry in terms of costs.

Risk 59

Risk Cybersecurity Data Breach Ransomware 59

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. Blackbaud's data breach isn't unique, per se.

Breach 52

Breach Multifactor Authentication Ransomware Email Compromise 52

PYMNTS

NOVEMBER 25, 2016

“Despite all of our attempts at locking down the various ways somebody could attack applications, like a website we are using for eCommerce or a point-of-sale system, one of the major methods that people are using to cause a data breach is with legitimate credentials,” Stolte explained.

Cybersecurity 76

Cybersecurity Credential Security Ransomware 76

PYMNTS

JUNE 2, 2017

In an encrypted message, Shadow Brokers announced the timely delivery of crippling exploits, such as Windows 10 bugs, ransomware, malware and internal info about international nuclear missile programs. The compromise of unreleased footage from the TV series “Orange Is the New Black” took place at a third-party production vendor.

Ransomware 40

Ransomware Blockchain Compromise Bitcoin 40

CB Insights

MARCH 27, 2019

Already this year, at least 30 organizations — including coffee chain Dunkin’ and cloud provider Rubrik — experienced major data breaches. Read our future of data security report for more on this topic. ). Amazon hasn’t had nearly the problems with data breaches that have hit some of the other big tech brands.

Cybersecurity 76

Cybersecurity Encryption Data Breach Breach 76

PYMNTS

MAY 5, 2017

It’s been a big week in the broader cybersecurity realm, starting with a data breach of Sabre Corporation’s hospitality unit. Ransomware, Cyberespionage On The Rise. Ransomware, Cyberespionage On The Rise. To begin, some 32,000 properties use the travel tech company’s reservation system.

Breach 45

Breach Business Email Compromise Data Breach Cybersecurity 45

FICO

DECEMBER 14, 2021

Data Breach Reporting Use. When it came into effect in 2018, the GDPR put a spotlight on data protection and kickstarted a wave of global privacy laws. Only last month, the electronics retail merchant MediaMarkt became the latest victim of a ransomware attack. Abuse of Open Banking.

Scams 52

Scams Data Breach Financial Crimes Breach 52

FICO

APRIL 12, 2017

Depending on the degree of variance, we can assess how likely the behavior is to be aberrant and thus potentially fraudulent or criminal — or, in the case of a network device, how likely that endpoint is to have been compromised by a cyber attacker. Power at scale: Enhancing fraud, compliance and cyber security defenses .

Financial Crimes 49

Financial Crimes Crime Suspicious Activity Report (SAR) SARS 49

PYMNTS

MAY 22, 2017

In early May, approximately 300,000 computer systems in more than 150 countries were compromised by the WannaCry cyberattack. Hacking and cyber threats like ransomware are hardly new phenomena. The WannaCry ransomware attack reached institutions and agencies across borders. s National Health Service.

Regulations 46

Regulations Authentication Ransomware Money Laundering 46

PYMNTS

JULY 28, 2017

BKK apparently pays about $1 million per year for T-Systems to maintain its IT infrastructure, which was so easily compromised by a data breach. Neither the BKK nor T-Systems took any responsibility for the bugs, claiming that there was nothing wrong with the system and that all holes in the software had been patched.

Data Breach 44

Data Breach Cybersecurity Law Enforcement Breach 44

PYMNTS

APRIL 30, 2018

ENISA urges organizations to define the boundaries of their data processing systems and the relevant context. Understanding these parameters can help businesses further understand the impact that a potential security incident — such as a data breach or theft — could bring. The Need for Greater GDPR Compliance.

Rules 47

Rules Authentication Breach Compliance 47

The Fintech Times

DECEMBER 11, 2023

This is particularly important given the rush in companies rushing to deploy LLMs despite growing concerns about adversarial attacks that could cause these models to inadvertently share sensitive data. “The ominous spectre of ransomware looms larger than ever, casting a long shadow over the digital landscape. .”

Cybersecurity 107

Cybersecurity Ransomware Authentication AI 107

PYMNTS

MARCH 24, 2017

Whether a mysterious “crime family” is really out to compromise iCloud and.mac accounts is yet to be seen, but either way the possible extortion of a tech giant is worrisome. Justice Department for allegedly taking part in the massive data breach that rocked Yahoo. This is a highly likely scenario.

Credential 45

Credential Ransomware Data Breach Crime 45

VISTA InfoSec

MAY 5, 2025

Increased Cyberattack Risk : Greater vulnerability to data breaches and ransomware. Loss of Client Confidence : Erosion of client trust in data protection. Operational Disruption : Delays, errors, and compromised systems. Regulatory Penalties : Fines for failing to meet compliance requirements.

SWIFT 130

SWIFT Security Compliance MFA 130

The Payments Association

JANUARY 14, 2025

Data breaches and ransomware attacks were also flagged as significant risks. Mark O’Keefe (TPA) suggested that allowing customers to customise their security thresholdsfor example, setting transaction limits above which additional verification steps are triggeredcould empower users without compromising safety.

Fraud Prevention 88

Fraud Prevention Financial Crimes Crime Participant 88

FICO

NOVEMBER 4, 2016

Due to lack of security features, creating an IoT botnet is a great deal easier than phishing users to compromise PCs. Mirai, Japanese for ‘future,’ has given us a view into the future through these attacks, which include data breaches and ransomware attacks through compromised IoT devices.

Security 101

Security Compromise Cybersecurity Ransomware 101