PYMNTS

APRIL 13, 2020

Fraud was all over the headlines this past week, with top stories related to Travelex’s ransomware payment , Luckin Coffee’s internal accounting fraud investigation, and new research anticipating an ongoing surge in payments fraud.

Business Email Compromise 63

Business Email Compromise Email Compromise Scams Law Enforcement 63

The Fintech Times

JULY 30, 2024

Other key findings in the 2024 Cost of a Data Breach Report At 16 per cent, stolen/compromised credentials was the most common initial attack vector. By bringing in law enforcement, ransomware victims saved on average nearly $1million in breach costs compared to those who didn’t – that savings excludes the ransom payment for those that paid.

Data Breach 59

Data Breach Breach AI Law Enforcement 59

PYMNTS

MAY 15, 2017

Reuters and others reported that the ransomware infections that hit computers worldwide likely trace their genesis to the U.S. the shipping giant, said computers running Windows were compromised — and for the Windows impact, the fault may lie with variants of the “WannaCry” malware. Similarly FedEx Corp., Hospitals in the U.K.

Ransomware 40

Ransomware Law Enforcement Cybersecurity Governance 40

PYMNTS

MAY 23, 2017

And as law-enforcement tries to stay a step ahead of bad actors, it comes as no surprise that airports around the globe are investing in new biometric technology to authenticate and identify travelers before they board planes or pass through customs — and digital identity providers are looking to cater to this growing demand.

Authentication 44

Authentication Ransomware Credential Law Enforcement 44

PYMNTS

JUNE 20, 2018

This past week saw the Federal Trade Commission (FTC) announce a new law enforcement initiative that focuses on bad actors who seek to commit crimes against small businesses. As many as 35 percent of firms were hit by ransomware attacks, and when ransoms were demanded, 12 percent opted to pay up.

Scams 45

Scams Phishing Federal Trade Commission Wire 45

PYMNTS

JUNE 20, 2016

The business email compromise has created more than 22,000 cases in the U.S. The data led industry experts to warn companies that they should report cybercrime as soon as possible to law enforcement, though some officials agree that the mechanisms to report such crimes are far from straightforward and streamlined.

Email Compromise 41

Email Compromise Bitcoin APACS Wire Transfer 41

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. In other news….

Data Breach 44

Data Breach Cybersecurity Law Enforcement Breach 44

EBizCharge

OCTOBER 25, 2023

An incident is only considered a data breach if the confidentiality of data is compromised. Malware attacks, such as ransomware and viruses, infect systems through malicious software or email attachments. Threat actors employ various methods and techniques to execute data breaches.

Data Breach 52

Data Breach Best Practices Breach Phishing 52

PYMNTS

MAY 15, 2017

The massive wave of crypto-ransomware cyberattacks now reported to have hit more than 200,000 computers in 150 countries shouldn’t be just another “look at how smart and cunning and horrible those cybercriminals are” headline. That was also about the same time that we began to see the spike in cyberattacks linked to ransomware.

Bitcoin 62

Bitcoin Ransomware Multi-Currency Regulations 62