Security News
The US Department of Justice has recovered the majority of the $4.4 million ransom payment paid by Colonial Pipeline to the DarkSide ransomware operation. On May 7th, Colonial Pipeline suffered a DarkSide ransomware attack that forced them to shut down their fuel pipeline operation.
Computer Services is participating in the FedNow Pilot Program to advance instant payments in the U.S. The program is designed to foster industry partnerships in development of the Federal Reserve's new real-time payments service. As part of the FedNow Pilot Program, CSI will support development, testing and adoption of the FedNow Service.
Ransomware victims are increasingly falling back on their cyber-insurance. Paid ransomware attackers almost $500,000,which the city announced would be mostly covered by insurance.
The U.S. Justice Department this week announced indictments against 22 individuals who allegedly purchased and used payment cards stolen from a national retail chain. Using point-of-sale malware installed at multiple retail locations of the target company, threat actors stole information of over three million payment cards, including credit, debit, and gift cards used at over 400 of the company's retail stores.
Colonial Pipeline chief executive Joseph Blount has confirmed the company shelled out $4.4 million to purchase a decryption key to recover from the disruptive ransomware attack that caused gasoline shortages in parts of the U.S. A Wall Street Journal report said Colonial Pipeline made the $4.4 million payment on the evening of May 7 in the form of bitcoin. "Colonial Pipeline is critical to the economic and national security of our nation," a company spokesperson told SecurityWeek.
Branches of insurance giant AXA based in Thailand, Malaysia, Hong Kong, and the Philippines have been struck by a ransomware cyber attack. The announcement from the group comes roughly a week after AXA stated that they would be dropping reimbursement for ransomware extortion payments when underwriting cyber-insurance policies in France.
In emails sent by NatWest and seen by BleepingComputer, the system malfunction meant that the standing orders set up by banking customers over a period of 11 months did not correctly record the number of automated payments that were to be debited, or on what dates should the debits stop. This means automated payments could have continued to be made from the customer accounts, even after a standing order had expired, costing customers money.
In emails sent by NatWest and seen by BleepingComputer, the system malfunction meant that the standing orders set up by banking customers over a period of 11 months did not correctly record the number of automated payments that were to be debited, or on what dates should the debits stop. This means automated payments could have continued to be made from the customer accounts, even after a standing order had expired, costing customers money.
Riskified announced the launch of the latest version of Deco, a real-time solution for recovering orders lost to card-not-present payment authorization failures. "Payment authorization failures are a significant, often hidden, source of revenue loss for eCommerce merchants," said Eido Gal, CEO of Riskified.
Some of the world's top tech firms are backing a new industry task force focused on disrupting cybercriminal ransomware gangs by limiting their ability to get paid, and targeting the individuals...