PYMNTS

SEPTEMBER 8, 2020

949 gigabytes of confidential data have been accessed by ransomware attackers targeting IT distributor Ma Labs , reports in CRN said, an attack that has stalled the company's operations and left its customers in limbo. million per targeted attack. Bottomline is now hoping to lower that U.K.

Business Email Compromise

The Fintech Times

APRIL 11, 2024

The main phishing attacks identified in the report include malicious URLs, malware or ransomware attachments, and compromised account infiltrations. Egress is now urging cybersecurity leaders to adopt new and robust monitoring measures to mitigate potential threats and identify vulnerabilities.

Phishing

PYMNTS

JANUARY 13, 2020

The currency exchange company continues in the grips of a ransomware attack that has crippled its operations, as well as the foreign currency operations of its corporate clients, including HSBC and Barclays. Ten percent of business email domains are protected from spoofing , according to recent Security Boulevard reports.

B2B

PYMNTS

JANUARY 20, 2017

There is a vast market for mitigating attacks in progress and for defending against threats, both new and established, that grow in severity by the day. The attack, Forbes reported, employs fairly sophisticated automation to swiftly take over newly-compromised accounts as soon as a victim submits his or her password.

Phishing

PYMNTS

OCTOBER 19, 2018

In addition to scrambling to deal with the fallout of compromised data, SMB owners can also be left vulnerable to ransomware demands. Nunziata told PYMNTS that in analyzing access points left exposed in hardware, “if businesses can think about data through the lens of segmentation, you can mitigate impact before an attack happens.

Risk

PYMNTS

DECEMBER 30, 2016

But, Vigue added, 2017 will be a year of continued innovation in the technology that can prevent, detect and mitigate a corporate 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

Fintech Finance

MARCH 20, 2024

Legitimate merchants fulfill the online order, but payment information is already compromised. Ransomware cases increased 300 percent from June to December 2023 when compared to the same period in 2022. Visa forecasts that ransomware threat actors will continue to target critical infrastructure, including financial organizations.

Scams

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. So what can firms do to better mitigate this risk? Mitigating security gaps Despite tightening regulations, financial firms still encounter multiple cybersecurity blind spots.

Risk

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

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. As a supplier of computing software services, Blackbaud is only the latest example of how cyberattacks aren't isolated to its targets.

Breach

PYMNTS

OCTOBER 16, 2019

When Pitney Bowes , a major logistics service provider, revealed that it had fallen victim to a ransomware attack , it was only the latest case revealing the threat that cyberattacks not only pose to companies, but also to their business partner networks, suppliers and supply chains. In a statement Monday (Oct.

Risk

PYMNTS

SEPTEMBER 30, 2019

The solution focuses on business-to-business (B2B) integrations — for instance, between a company and one of its vendors — to address and mitigate cybersecurity risks found within enterprise apps that connect those two firms. This is precisely the threat Zscaler targets with its latest rollout, Zscaler B2B. Experience Over Security.

Cybersecurity

The Fintech Times

JULY 30, 2024

It revealed that these technologies may be helping put time back on defenders’ side by improving threat mitigation and remediation activities. 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.

Data Breach

PYMNTS

JANUARY 13, 2017

Though the companies have since worked to address the vulnerabilities and mitigate ongoing risk, Digital Shadows CTO and cofounder James Chappell told PYMNTS that the threat is just an indication of what’s to come in the world of cybercrime. Ransomware is not going away in 2017; it’s very much here to stay,” he added.

ATM

PYMNTS

MAY 7, 2018

FIs are kept on their toes to mitigate this risk. In corporate payments, while fraud is typically linked to wire and checks , the rise in Business Email Compromise (BEC) and account takeovers means ACH fraud is a growing threat, same-day or not. That’s the reality: Every system can be compromised.”

Same Day ACH

PYMNTS

JULY 26, 2017

Phishing, ransomware, business email compromises, data theft and denial-of-service tactics can be especially harmful to FIs, and not only threaten the bank, but put the FI’s entire supply chain at risk, too. Compliance. As is often the case with banks, risks of non-compliance remain high, the OCC noted.

OCC

PYMNTS

JANUARY 30, 2017

“For businesses of all sizes, data breaches hit close to home, thanks to a significant rise in CEO spear phishing and ransomware attacks,” explained ITRC Vice Chair of its Board of Directors and CEO of CyberScout Matt Cullina in a statement announcing the report.

Data Security

PYMNTS

MAY 17, 2017

Just days before the ransomware attack launched, Versive , a data science and analytics firm formerly known as Context Relevant, released a new product, Versive Security Engine (good timing for businesses able to deploy it before WannaCry). That’s what gives it an advantage in detection and mitigation of cyberattacks.”.

Cybersecurity

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. An incident is only considered a data breach if the confidentiality of data is compromised. According to the 2023 IBM Data Breach Report , the global average cost of data breaches was $4.45

Data Breach

PYMNTS

JUNE 21, 2019

In Florida, The New York Times reported on Thursday (June 20), government officials of Riviera Beach voted to pay nearly $600,000 worth of ransom to hackers, just weeks after Baltimore paid $18 million for a similarly crippling ransomware cyberattack against government systems. In The UK, Too.

Governance

Fintech News

APRIL 7, 2025

A ransomware attack on printing vendor Toppan Next Tech (TNT) has led to the potential exposure of customer data from DBS Bank and Bank of Chinas Singapore branch. CSA is advising TNT on containment measures, while MAS is working with the affected banks on risk mitigation and customer outreach. We are sorry for the anxiety caused.

Ransomware

The Fintech Times

NOVEMBER 26, 2024

Cybercriminals are increasingly turning to freelance penetration testers to improve the effectiveness of ransomware attacks and to find new avenues for intrusion, according to new research from IT consultancy firm Northdoor. Cybercriminals want to ensure that their ransomware can be deployed successfully against an organisation.

Ransomware

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