Security News
A financially motivated threat actor notorious for setting its sights on retail, hospitality, and entertainment industries has been observed deploying a completely new backdoor on infected systems, indicating the operators are continuously retooling their malware arsenal to avoid detection and stay under the radar. The previously undocumented malware has been dubbed "Sardonic" by Romanian cybersecurity technology company Bitdefender, which it encountered during a forensic investigation in the wake of an unsuccessful attack carried out by FIN8 aimed at an unnamed financial institution located in the U.S. Said to be under active development, "Sardonic backdoor is extremely potent and has a wide range of capabilities that help the threat actor leverage new malware on the fly without updating components," Bitdefender researchers Eduard Budaca and Victor Vrabie said in a report shared with The Hacker News.
A financially motivated threat actor notorious for setting its sights on retail, hospitality, and entertainment industries has been observed deploying a completely new backdoor on infected systems, indicating the operators are continuously retooling their malware arsenal to avoid detection and stay under the radar. The previously undocumented malware has been dubbed "Sardonic" by Romanian cybersecurity technology company Bitdefender, which it encountered during a forensic investigation in the wake of an unsuccessful attack carried out by FIN8 aimed at an unnamed financial institution located in the U.S. Said to be under active development, "Sardonic backdoor is extremely potent and has a wide range of capabilities that help the threat actor leverage new malware on the fly without updating components," Bitdefender researchers Eduard Budaca and Victor Vrabie said in a report shared with The Hacker News.
Atlas VPN analyzed financial hacks over the last two-and-a-half years and found that DeFi hacks represent 76% of all major hacks for the first half of 2021.The problem has jumped from basically zero dollars lost to DeFi hacks in 2019 to $129 million in 2020 and $361 million in the first half of this year.
Bart McDonough: I think when people hear the term financial services? I think that the lay person thinks of banking, and they're right to be concerned about cybersecurity at banks, but candidly, those organizations are really well-equipped. So I think that right there should be a wake-up call to the regulatory bodies, certainly to the industry about the risks that are facing these kind of other financial services.
Financial summary for the second quarter ended June 30, 2021 Subscription revenue was $27.1 million in the second quarter of 2021, an increase of 101 percent from $13.4 million in the second quarter of 2020. GAAP operating loss was $(23.4) million and non-GAAP operating income was $2.0 million in the second quarter of 2021.
Q2 fiscal 2021 financial highlights from continuing operations Net revenue was $467 million, reflecting a 22% growth year-over-year. Net Income of $108 million or a net income margin of 23%, as compared to $22 million or a net income margin of 6% in the year ago period.
Vade released its Phishers' Favorites report for H1 2021, which revealed that there has been a major jump in phishing attacks since the start of the year with a 281 percent spike in May and another 284 percent increase in June, for a total of 4.2 billion phishing emails detected by Vade for June alone. In Q2 2021, Crédit Agricole phishing URLs increased 296 percent, while La Banque Postale URLs increased 831 percent, pushing them up 18 spots to #5 on the list.
SAP announced its financial results for the second quarter ended June 30, 2021. "We're seeing strong adoption of our cloud portfolio as customers select SAP for their business transformation. Our strategy is working; This is the third straight quarter of strong execution, and we continue to deliver unparalleled customer value through the strength of our platform and applications," said Christian Klein, CEO. "This has been another strong quarter with accelerating growth for SAP's cloud portfolio. We saw excellent customer momentum and adoption and are raising our outlook for revenue and profit," said Luka Mucic, CFO. Business update second quarter 2021.
The study was conducted to provide banking, financial services, and investing/trading mobile apps with insights on the state of mobile app login authentication and the friction when a user resets their password. This surge in both fraud losses and mobile usage highlights the need of financial services companies to look to multi-factor authentication solutions that provide stronger security than passwords without interfering with a great mobile user experience, a key competitive advantage in today's app-driven world.
Thrive announces that it has acquired S7 Technology Group, an information technology services provider for the financial industry. S7 Technology Group, headquartered in Midtown Manhattan, is an SSAE 18- audited, value-driven technology firm that provides turnkey, full-service IT solutions and ongoing support to financial institutions.