Security News
Jack Wallen thinks banks and credit card companies need to start considering radical ideas to increase their security. How many times have you had your bank account information or credit card number stolen, only to see your accounts drained? When that happens, you have to not only work with the bank to get your funds back, but jump through all of the hoops when subscribed services start sending you alerts that your payment didn't go through.
Typing in your login data on the fake site exposes your credentials to the crooks because your password is sent to them instead of to your real mobile phone provider. As you can see from the list above, it's theoretically possible that getting your mobile phone account password hacked might give the crooks a way in to your bank account too, especially if you used the same password on your banking site as elsewhere.
The criminals who took out Scotland's Dundee and Angus College made a ransom demand that precisely added up to the contents of its bank account - and that was no accident, its principal has said. In a postmortem interview with academic IT nonprofit Jisc, Simon Hewitt lifted the lid on the 31 January ransomware attack, which went on for days and saw the college's entire IT estate almost completely wiped.
Mastercard announced Cyber Secure, an AI-powered suite of tools that allows banks to assess cyber risk across their ecosystem and prevent potential breaches. Acquiring banks can help merchants understand their own cyber risk, preventing hundreds of millions of dollars in potential fraud.
Details of bank vault floor plans, alarm systems and the security arrangements for Swedish authorities have been leaked online after a security company was hacked, local media reported Tuesday. A total of 19 gigabytes of information and around 38,000 files were stolen from security group Gunnebo by one or more hackers in August, according to newspaper Dagens Nyheter.
Behavox announced that Danske Bank has successfully implemented Behavox's solution in less than five months for compliance supervision. In June, Danske Bank partnered with Behavox to establish group wide compliance communications monitoring, and has since completed a seamless, full SaaS implementation of the Behavox Compliance solution.
Many banks across the U.S. and Canada are failing to meet their customers' online identity fraud and digital banking needs, according to a survey from FICO. Despite COVID-19 quickly turning online banking into an essential service, the survey found that financial institutions across North America are struggling to establish practices that combat online identity fraud and money laundering, without negatively impacting customer experience. 51 percent of North American banks are still asking customers to prove their identities by visiting branches or posting documents when opening digital accounts.
Documents filed by cloud software provider Blackbaud with the United States Securities and Exchange Commission this week reveal that bank account details and social security numbers might have been affected in a ransomware attack earlier this year. At the time, the company admitted to paying ransomware operators so that they would delete the data exfiltrated during the attack, but said that no personally identifiable information or bank account details were compromised.
Blackbaud, the cloud CRM provider whose execs bought off ransomware crooks in exchange for a pinky promise that stolen data would not be misused, has now confessed that customers' bank account information may have been taken from its servers by the criminals. In a US stock market 8-K filing [PDF], Blackbaud admitted the ransomware infection in May potentially resulted in miscreants making off with banking details.
Banks and federal government agencies are holding up the best against cyberattacks while retail and manufacturing are faltering, according to a new report from Synack. The 2020 Trust Report from the penetration testing company found that government and financial services scored 15% and 11% higher than all other industries in 2020.