Fintech News

JUNE 3, 2024

German insurance group Munich Re expects the market to continue its growth momentum, projected to triple in size by 2025. Cyber insurance, also called cyber liability insurance or cybersecurity insurance, covers financial losses that companies have as a result of ransomware attacks, data breaches and other cyber incidents.

Ransomware 109

Ransomware APACS Cybersecurity AI 109

PYMNTS

APRIL 28, 2017

was the number one target for ransomware last year. To start, ransomware threats escalated globally through 2016 in size, number and kind. Likewise, they registered a 36 percent increase in ransomware attacks globally in the same period. It’s no surprise, then, that the written amount of ransomware has gone up and that the U.S.

Ransomware 62

Ransomware End User Crime Authentication 62

VISTA InfoSec

SEPTEMBER 5, 2024

Understanding the significance of cyber security is crucial for protecting sensitive data and ensuring business continuity. With sensitive information at stake, including customer credit cards and proprietary business data, SMEs must prioritize robust cyber security measures.

Security 130

Security Phishing Ransomware Risk Assessment 130

VISTA InfoSec

OCTOBER 21, 2024

Understanding the significance of cyber security is crucial for protecting sensitive data and ensuring business continuity. With sensitive information at stake, including customer credit cards and proprietary business data, SMEs must prioritize robust cyber security measures.

Security 130

Security Phishing Ransomware Risk Assessment 130

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

FICO

AUGUST 31, 2017

While data breaches and ransomware grab the headlines, we’re still seeing fraud growth due to ATM compromises in the US. As criminals try to beat the system, we are continually adapting the predictive analytics we use to detect compromises. The number of POS device and ATM compromises rose 21 percent in the same period.

Compromise 74

Compromise ATM Continuity Card Issuer 74

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

APRIL 27, 2017

was the number one target for ransomware last year. To start, ransomware threats escalated globally through 2016 in size, number and kind. Likewise, they registered a 36 percent increase in ransomware attacks globally in the same period. It’s no surprise, then, that the written amount of ransomware has gone up and that the U.S.

Ransomware 49

Ransomware End User Crime Law Enforcement 49

PYMNTS

JUNE 1, 2020

Google issued a stark warning last week about the state of cybersecurity: Phishing attacks are on the rise and continue to take advantage of vulnerabilities resulting from the global pandemic. Among a lengthy list of attack methods, ransomware and third-party breaches remain common tactics against law firms, the report revealed.

Phishing 59

Phishing Continuity Data Breach Cybersecurity 59

Fintech Review

JANUARY 21, 2025

Phishing attacks, ransomware, and data breaches are increasing in both frequency and sophistication. This rapid response minimises damage and ensures business continuity. Furthermore, continuous authentication systems powered by AI monitor user behaviour, offering an additional layer of security.

Cybersecurity 103

Cybersecurity FinTech Identity Theft AI 103

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. Yet small businesses rarely have the resources to pay and survive fines of thousands or even millions of dollars.

Small Business 78

Small Business Cybersecurity Ransomware Compromise 78

PYMNTS

MAY 13, 2019

Wolters Kluwer , which fell victim to a malware attack last week, sent a “quiet panic” through the accounting industry, with clients unable to access data and do their jobs. The city of Baltimore fell victim to a ransomware attack last week , as researchers began to dive into the risks of local-level government systems.

Cross-Border 51

Cross-Border Data Breach Ransomware Breach 51

PYMNTS

APRIL 29, 2019

” Finally, he said, ransomware is another massive threat that continues to grow, particularly as attackers adjust their tactics from single, large targets to many smaller hauls. However, cyberthreats continue to climb, and it seems no one is listening. ” Taking Action. They’re reusing the same passwords.

Cybersecurity 74

Cybersecurity Ransomware Data Breach Non-Bank 74

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.

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

M2P Fintech

MARCH 24, 2025

For instance, the increase in use of digital and automated processes is likely to continue. These innovative platforms leverage non-traditional data sources and cutting-edge underwriting methods to assess creditworthiness, unlocking opportunities for small businesses and individuals who may have previously faced barriers to securing loans.

Payment APIs and Integration 52

Payment APIs and Integration Blockchain Regulatory Compliance Compliance 52

The Fintech Times

JANUARY 26, 2024

Speaking on the findings, Michael Bruemmer , vice president, global data breach resolution at Experian said: “Cybercriminals are continually working smarter, not harder. Six degrees of separation There’s no question third-party data breaches have made headlines. Hackers could apply that same rule.

Data Breach 59

Data Breach Breach Crime Ransomware 59

FICO

NOVEMBER 30, 2016

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. Another critical area will be in vendor management, particularly use of the ESS score to continually monitor vendors’ cyber security postures.

AI 108

AI Compromise Risk Assessment Assessments 108

PYMNTS

APRIL 29, 2016

According to the results of Verizon’s 2016 Data Breach Investigations Report , released on Wednesday (April 27), cybercriminals have become quite adept at using their victims’ human nature against them in order to get what they want. How do you reconcile that?”

Phishing 44

Phishing Data Breach Law Enforcement Ransomware 44

The Fintech Times

JUNE 20, 2024

The financial services industry continues to face unrelenting cyber-attack attempts due to the nature of high-value data it houses. 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?

Risk 59

Risk Cybersecurity Data Breach Ransomware 59

PYMNTS

OCTOBER 12, 2020

For example, the 350,000 companies that have contracts with the Department of Defense will soon have to comply with a new mandate known as Cybersecurity Maturity Model Certification (CMMC) if they want to continue doing business with the government.

Cybersecurity 83

Cybersecurity B2B Email Compromise Business Email Compromise 83

PYMNTS

DECEMBER 23, 2019

Cyberattacks have become a critical issue for companies of all sizes and a threat to privacy and data security. Data breaches and ransomware attacks jeopardize customers’ records and trust.

Cybersecurity 55

Cybersecurity Visa Ransomware Data Breach 55

Finovate

JUNE 10, 2024

“As the threat landscape continues to evolve, it’s imperative that digital identities are well protected since they’re the entry point for so many targeted attacks,” SpyCloud CEO and Co-Founder Ted Ross said. CIBC Innovation Banking is the investment division of Canadian Imperial Bank of Commerce.

Account Takeovers 59

Account Takeovers Credential Cybersecurity Breach 59

VISTA InfoSec

JULY 31, 2023

Conduct Periodic Evaluations of Your Configuration Guidelines : Regularly review your configuration rules and flowcharts, at least every six months, to ensure they continue to meet your business needs. Segregation of Networks: This involves isolating the cardholder data environment (CDE) from the rest of the business’s network.

PCI DSS 130

PCI DSS Security Encryption Risk Assessment 130

PYMNTS

FEBRUARY 24, 2017

As hackers continue to advance their malicious tactics, it’s no surprise that increasingly sophisticated cyberattacks and fraud are costing business big time. Cisco’s 2017 Annual Cybersecurity Report (ACR) report revealed companies that suffer a data breach are expected to have customer, opportunity and revenue losses exceeding 20 percent.

Data Breach 68

Data Breach Breach Cybersecurity Laws 68

PYMNTS

MARCH 6, 2017

In 2016, there were 1,093 data breaches according to the Identity Theft Resource Center – a 40% increase over the 2015 data breach number of 781. Malware and its Role in Data Breaches. Specifically the webinar will explore: The State of Payment Security. The Introduction of PCI-Validated P2PE in 2011.

Data Breach 47

Data Breach Third Party Vendors Encryption Identity Theft 47

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. According to Breach Clarity CEO and Co-founder Jim Van Dyke , this isn't to say that organizations' security investments are failing.

Breach 52

Breach Multifactor Authentication Ransomware Email Compromise 52

PYMNTS

JUNE 24, 2020

Cognizant Technology Solutions, an IT solutions company, recently revealed it was targeted in a ransomware attack in April, and it’s the firm’s corporate credit cards that suffered the bulk of the impact. All employees with an active company card have been notified of the data breach.

Commercial Card 52

Commercial Card Innovation Ransomware Credit Cards 52

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. ). Cybersecurity is a hot topic today. Most recently, Dow Jones saw over 2.4M

Cybersecurity 76

Cybersecurity Encryption Data Breach Breach 76

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. But, Vigue added, 2017 will be a year of continued innovation in the technology that can prevent, detect and mitigate a corporate cyberattack. As night follows day, crime will continue.

Checks 58

Checks Email Compromise Security Compromise 58

FICO

MAY 19, 2016

And I say “yes,” although I am focused on other parts of the business such as fraud detection, network continuity assurance, marketing predictions and many more. Quickly detecting malware and ransomware. Data is frequently stolen within minutes or hours after penetration. The credit score company?” How scoring works.

Data Breach 40

Data Breach Ransomware Cybersecurity Breach 40

PYMNTS

AUGUST 17, 2017

The shipping and logistics company’s CEO, Soren Skou, reassured the public that there was no data breach or loss and its core business was not majorly impacted. “In June’s ransomware attack, which was dispersed using Ukrainian accounting software, will no doubt be the lynchpin that provides losses to Maersk’s next quarter results.

Ransomware 41

Ransomware Cybersecurity Breach Data Breach 41

PYMNTS

JULY 27, 2017

With 64 percent of Americans having experienced some level of a data breach, Pew Center Research confirms these instances result in a lack of public trust for both institutions and social media sites. From Target to Citigroup , Home Depot and Michaels , retail and financial data breaches have been going on for years.

Bitcoin 49

Bitcoin Security Cryptocurrency Data Breach 49

PYMNTS

AUGUST 4, 2017

Cyberattacks, ransomware attacks and more have taken businesses and people’s personal information and turned it upside-down over the past few decades. Since the internet came into mainstream use in the 1990s, there have been myriad cyber infiltrations into sensitive data. In 2016 alone, U.S.

Posting 44

Posting Consumer Data Breach Third Party Vendors 44

PYMNTS

JULY 14, 2017

The WannaCry ransomware in May crippled hospitals, railways and government in more than 150 countries: the biggest cyberattack on the books, affecting hundreds of thousands of computers. said the plant was continuing to operate safely. Few paid up, but with systems down for days or weeks, bottom lines certainly suffered regardless.

Data Breach 47

Data Breach Breach FBI Ransomware 47

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. As of now, there is reportedly no evidence of continued unauthorized activity. Ransomware, Cyberespionage On The Rise. The unauthorized access has been shut off, Sabre said.

Breach 45

Breach Business Email Compromise Data Breach Cybersecurity 45

PYMNTS

NOVEMBER 3, 2017

The recent Equifax data breach and a string of ransomware attacks in Europe have raised several questions around cybersecurity. News from around the world of Faster Payments: As peer-to-peer (P2P) payments continue their rise in popularity, a recent development enables users to make P2P payments using voice commands.

Boot Camp 50

Boot Camp FS-ISAC NACHA Faster Payments 50

PYMNTS

AUGUST 9, 2018

Trading of stolen data is worth a cool $160 billion, crimeware-as-a-service makes criminals $1.6 billion a year and ransomware results in $1 billion in criminal earnings. One data breach is remedied, another is discovered. And yet, cyberattacks – and the money they steal – continue to grow. Fresh off a $6.2

Law Enforcement 41

Law Enforcement Data Breach Cybersecurity Breach 41