The U.S. Federal Trade Commission reports that impostor scams were the #1 type of fraud reported by consumers last year, with losses to American consumers nearly $30B. UK Finance reported an increase in authorized push payment fraud last year with loss of more than £479M, and top UK bank Barclays reported a 20%...
Phishing, ransomware and unauthorized access remain the leading causes of personal data breaches as well as violations of data protection rules, Britain's privacy watchdog reports. The U.K. government has also been caught out by breaches and leaks involving military secrets and CCTV footage from a government building.
How much does it cost to recover from a ransomware attack? For the Scottish Environment Protection Agency, which was hit by the Conti ransomware-wielding gang on Christmas Eve, reported cleanup costs have reached $1.1 million. SEPA is still restoring systems and has refused to pay any ransom.
The "remote workforce" of 2020 is gone. Now we're talking about the new, permanent "branch office" - and it comes with its own unique set of cybersecurity concerns, says Derek Manky of FortiGuard Labs. He discusses new social engineering trends and how to respond.
Ransomware attacks remain the top cyber-enabled threat seen by law enforcement. But phishing, business email compromises and other types of fraud - many now using a COVID-19 theme - also loom large, Europol warns in its latest Internet Organized Crime Threat Assessment.
A recently uncovered phishing campaign used the European Union's General Data Protection Regulation as a lure to steal login credentials. The campaign enticed victims with subject lines indicating their email security system was not in compliance with the law, according to Area 1 Security.
Scammers have reportedly been putting one over on customers of the famous Ritz London, which says it is "aware of a potential data breach within our food and beverage reservation system, which may have compromised some of our clients' personal data." No payment card data was exposed, it says.
The latest edition of the ISMG Security Report analyzes the privacy issues raised by COVID-19 contact-tracing apps. Also featured: An update on efforts to fight fraud tied to economic stimulus payments; John Kindervag on the origins of "zero trust."
People are the weakest link in your security posture.
Naturally, people are trusting. That trust can be abused- allowing for the wrong links to be clicked, malware to be installed and sensitive data to be leaked. With today's changing landscape including accommodating the remote worker, IoT everywhere and using a...
As cybercriminals and nation-states take advantage of the COVID-19 pandemic to further their own aims, authorities are calling on victims to report online attacks as quickly as possible to help them better disrupt such activity.
The cybersecurity outlook for 2020 and the new decade will be characterized by more advanced, targeted and coordinated attack vectors designed to exploit the cybersecurity skills shortage, along with congenitally poor security fundamentals and hygiene.
Financial services (FinServ) organizations are not the only ones that recognize the value of digital platforms.
As FinServ organizations continue to engage with customers digitally, they must equip themselves to handle both the sophistication and scale of threats they will encounter on these platforms. Through...
In the last several years, Financial Services organizations have undergone rapid digital transformation. They rely on social media and digital platforms to generate brand awareness, provide online banking and other financial services, and to offer support and services to customers. This has created new avenues and...