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Identity Fraud Attacks on Social Media Rose by 27% in 2024 Alone, Reveals AU10TIX

The Fintech Times

Payments saw 54 per cent of attacks in Q1, but due to tougher law enforcement, the number had declined to 43 per cent by Q4. As fraud increased on social media platforms, it declined in the payments sector, historically the most targeted industry.

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Cybersecurity Researchers To Corporates: You’re Being Naïve

PYMNTS

Corporates large and small are “naïve” about their cybersecurity risks, according to a new report. That’s despite 80 percent of CEOs expressing confidence in existing cybersecurity strategies. companies’ cybersecurity measures.

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What to do if your company suffers a data breach

VISTA InfoSec

Businesses with a dedicated cybersecurity team, who are likely to have identified the breach initially, should secure any systems, patch software, change access codes, and so on. The Federal Trade Commission (FTC) recommends that companies notify law enforcement as soon as possible by contacting local FBI or U.S.

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The Invoice Lands In The Corporate Cyber Fraud Spotlight

PYMNTS

43 percent of employees admit to mistakes that have caused cybersecurity repercussions, a new study has found, according to OnRec reported. Forty-seven percent of respondents said the reason they fell for a phishing scam was simply because they were distracted. Law enforcement officials said their investigation remains ongoing.

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SEC Warns Cos To Prioritize Cybersecurity

PYMNTS

Securities and Exchange Commission (SEC) has issued a stern warning to public companies: tighten cybersecurity controls or risk being in violation of federal law. The regulator issued a report based on the SEC Enforcement Division’s investigations of nine public companies that lost millions of dollars as the result of cyber fraud.

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Phishing Scams Target SMBs Seeking COVID Aid

PYMNTS

The phishing expedition, as explained by AbnormalSecurity.com , requests the recipient’s signature for PPP documents. Anti-phishing company INKY said these schemes are among the most sophisticated-looking they’ve seen. The fraudsters’ mission is to lure recipients with financial relief options.

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Hacker Hits Italy-Owned Bank’s Emails, Data Breach Unknown

PYMNTS

Italian law enforcement officials said the country has seen a rise in this kind of activity. With governments imposing lockdowns to contain the virus, hackers have been known to pose as banks or other legitimate institutions to try to glean access to people’s private information to use for nefarious means, such as identity theft.