Fintech News

FEBRUARY 21, 2024

The report by Chainalysis provides a deep dive into these changes, highlighting the decline in certain types of crypto crimes and the persistence, if not growth, of others, such as ransomware and darknet markets. Such measures were designed to discourage speculative trading and mitigate financial risks for retail investors.

Crime 109

Crime Ransomware Scams Romance Scams 109

VISTA InfoSec

SEPTEMBER 5, 2024

This article explores the most common cyber security threats targeting SMEs, practical measures to mitigate risks, and essential steps to take in the event of an attack. Malware and ransomware Malware and ransomware represent another threat to SMEs, as these malicious software programs can disrupt operations and lead to significant data loss.

Security 130

Security Phishing Ransomware Risk Assessment 130

VISTA InfoSec

OCTOBER 21, 2024

This article explores the most common cyber security threats targeting SMEs, practical measures to mitigate risks, and essential steps to take in the event of an attack. Malware and ransomware Malware and ransomware represent another threat to SMEs, as these malicious software programs can disrupt operations and lead to significant data loss.

Security 130

Security Phishing Ransomware Risk Assessment 130

PYMNTS

APRIL 18, 2019

For many, however, the technology still conjures up images of cybercrime and illicit activity, and new data revealing the rising threat of ransomware is likely to fuel that negative reputation. Between 2018’s fourth quarter and 2019’s first, the average cost of a ransomware attack spiked by a whopping 89 percent to $12,762.

Ransomware 57

Ransomware Bitcoin SDN Cryptocurrency 57

PYMNTS

OCTOBER 5, 2020

In this week’s B2B Data Digest, PYMNTS examines some of these numbers, finding that businesses are falling victim to payments fraud, but that tech firms are taking actions to mitigate cyber risks. . Over one-third of the ransomware strain’s victims have been estimated to have made a ransom payment.

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Ransomware AFP Breach Payments 54

PYMNTS

DECEMBER 5, 2017

When a company is hit by ransomware, the cost of paying the ransom is rarely, if ever, the full cost of the cyberattack. And while most said they acknowledged ransomware as a significant threat, less than half said they were confident they would be able to deal with a ransomware attack.

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Ransomware Small Business Cybersecurity Addressing 50

VISTA InfoSec

AUGUST 8, 2023

It can affect productivity, but you can mitigate the impact of attacks by deploying protective gear and training systems for your business and employees. They can include computer viruses and ransomware kinds of attacks. Unfortunately, many cybercriminals see this as an easy way to get exploit businesses.

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Small Business Encryption Ransomware Cybersecurity 130

Fintech News

JUNE 3, 2024

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 is a type of malicious software attack designed to block access to a computer system until a ransom is paid.

Ransomware 109

Ransomware APACS Cybersecurity AI 109

VISTA InfoSec

DECEMBER 2, 2024

A proactive approach to risk management allows businesses to identify, assess, and mitigate these threats before they can bring operations to a standstill. Others, such as a ransomware attack, could be increasingly likely and extremely devastating. This step is crucial for determining where to focus your mitigation strategies.

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Disaster Recovery Risk Assessment Assessments Risk 130

VISTA InfoSec

DECEMBER 2, 2024

A proactive approach to risk management allows businesses to identify, assess, and mitigate these threats before they can bring operations to a standstill. Others, such as a ransomware attack, could be increasingly likely and extremely devastating. This step is crucial for determining where to focus your mitigation strategies.

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Disaster Recovery Risk Assessment Assessments Risk 130

Fintech Review

APRIL 20, 2025

The risks range from phishing and account takeovers to ransomware and insider threats. Cybertech helps mitigate these risks by securing each layer of the stack from device authentication to back-end systems. Because financial data is highly valuable, banks and fintechs are required to maintain rigorous security protocols.

Finance 59

Finance Security Fraud Detection Encryption 59

FICO

DECEMBER 23, 2020

There Will Be More Ransomware Attacks and Potential Sanctions Risk Implications. We predict a rise in ransomware attacks, a method that has become a particularly popular weapon in the hands of criminals with malicious intent in trying to harm governments, businesses, and individuals alike.

Financial Crimes 52

Financial Crimes Ransomware Crime AI 52

Fintech News

MARCH 21, 2024

Notably, there have been marked increases in Purchase Return Authorisation (PRA) fraud and ransomware attacks, emphasising the evolving challenge of protecting financial infrastructure. Visa integrates its human resources with technological solutions to develop strategies that mitigate and prevent attacks on the payments ecosystem.

Scams 113

Scams AI Ransomware On-Demand 113

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. Bottomline is now hoping to lower that U.K. The solution is an overlay service, which is mandated for the U.K.'s

Business Email Compromise 69

Business Email Compromise Ransomware Payee Overlay Service 69

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. Our report shows that most organizations are still not prepared to fend off many of the more sophisticated attacks. Gmail Users Get Fooled.

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Phishing Ransomware EMV CHIPS 45

PYMNTS

JANUARY 23, 2020

Among the most troubling examples of this is in the case of ransomware, in which cyberattackers require ransom to be paid in a digital currency. “We have seen over the last couple years a major upswing in ransomware events affecting our insurance claims, and the vast majority are demanding payment in some sort of cryptocurrency.”

Ransomware 58

Ransomware Cryptocurrency Small Business Risk 58

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.

B2B 89

B2B Wire Transfer FBI Cybersecurity 89

PYMNTS

JUNE 26, 2017

While constant vigilance can help mitigate hacking, it’s not likely that it will prevent attacks 100 percent of the time. In today’s fast-paced, tech-savvy society, it’s not enough to install a antivirus software on any connected device and expect to never be under cyber attack.

Ransomware 51

Ransomware Mitigation Security Accounts 51

PYMNTS

APRIL 29, 2019

.” Internal controls and employee education are essential to mitigating this risk, and boosting oversight. ” 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. .” ” Taking Action.

Cybersecurity 74

Cybersecurity Ransomware Data Breach Non-Bank 74

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 69

Phishing Cybersecurity Compromise Ransomware 69

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 76

Risk Security Ransomware On-Demand 76

The Finance Weekly

DECEMBER 30, 2021

Malware attacks, especially ransomware attacks, are on the rise. To prevent harm to your network and mitigate risk, consider requiring multi factor authentication to access company data, encrypting email, securing email attachments, and implementing other best practices.

Technology 130

Technology MSPS Small Business Data Security 130

PYMNTS

MAY 13, 2019

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. So far this year, there have been 22 known attacks on local government systems, with the most recent the ransomware attack on Baltimore last week that forced a network quarantine.

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Cross-Border Data Breach Ransomware Breach 51

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 59

Risk Cybersecurity Data Breach Ransomware 59

PYMNTS

MARCH 31, 2017

Though ransomware remains on the rise, Michael Corby, an executive consultant for CGI, is holding tight to the argument that ransomware demands should not be paid. Just Say “No” to Ransom Demands. The key concepts companies must understand, he noted, are restore and recover.

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Bitcoin Ransomware Cybersecurity Money Laundering 42

PYMNTS

MARCH 17, 2017

It seems as though the trend of ransomware attacks isn’t disappearing any time soon. The latest research from the National Crime Agency and National Cyber Security Centre found that the risk to businesses is “significant and growing,” due to the increasing instances of ransomware attacks. Cyber Ransoms (Still) On The Rise.

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Breach Ransomware Disaster Recovery Cybersecurity 40

PYMNTS

JANUARY 1, 2021

The government also stated in its announcement that "mitigating factors" in BitGo's favor included the company's "relatively small" size, clean track record for at least five years before the potential violations, cooperation with investigators and investment in systems to prevent future similar incidents.

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Bitcoin Cryptocurrency OFAC Treasury 80

Fintech News

MARCH 20, 2024

Resilience in the banking sector must evolve beyond the traditional focus on recovery and stability, to encompass the enablement of dynamic, intelligent systems that can anticipate change, mitigate risks proactively, and offer personalised, real-time services to customers.

Cybersecurity 116

Cybersecurity On-Demand Database Automation 116

Fintech Finance

MARCH 20, 2024

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 59

Scams Consumer Ransomware AI 59

PYMNTS

JULY 25, 2019

Ransomware attacks increased 21 percent from 2017 to 2018, and malicious insider attacks increased 18 percent during that same timeframe. Many are putting their faith in automation to reduce the impact of fraud and mitigate human risk. And digital fraud is increasingly being targeted at the weakest links: humans.

Phishing 69

Phishing Fraud Detection Automation Ransomware 69

PYMNTS

DECEMBER 6, 2017

Its insurance products include one for cyber and one for technology errors to address risks apart from ransomware attacks, including system failure risks. Unlike other cybersecurity firms, Coalition shares its customers’ financial incentive to prevent and mitigate losses,” Motta continued. “We

Cybersecurity 43

Cybersecurity Ransomware Risk Mitigation 43

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

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 52

Breach Multifactor Authentication Ransomware Email Compromise 52

PYMNTS

AUGUST 22, 2016

“This investment validates the demand for technology and services that mitigates the risk of cyberbreaches and resulting identity fraud,” Bob Gregg, CEO of ID Experts, said in a press release. “Our new group of investors is extremely well-positioned to support ID Experts’ continued growth.”

Cybersecurity 40

Cybersecurity Ransomware Mitigation On-Demand 40

VISTA InfoSec

JULY 31, 2023

Ensure Comprehensive Protection : Ensure that antiviruses can detect, remove, and protect against all malware types, including viruses, worms, Trojans, bots, and ransomware. Established Risk Assessment Processes : The organization must have established risk assessment processes in place to identify and mitigate security risks.

PCI DSS 130

PCI DSS Security Encryption Risk Assessment 130

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. 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

Fintech Finance

MARCH 20, 2024

Our state-of-the-art fraud solutions help Network International safeguard their business, protect transactions, and take a forward-looking approach to mitigate the risks of today and tomorrow,” said Mete Güney, Executive Vice President, Services, EEMEA, Mastercard. “As trillion by 2025.

AI 52

AI Fraud Prevention Visa Fraud Detection 52