Payments News » Risk & Fraud

Mastercard Alerts Privacy Watchdogs After Loyalty Program Leak

August 23 2019

in
Data breach

“Mastercard Inc.’s European unit formally notified Belgian and German data-protection regulators of a data lapse concerning a loyalty program, officials said on Friday. The Belgian watchdog said in a statement on Friday that the card company alerted it to a “breach” detected on Aug. 19. It said the episode would have affected a “large number” […]

Reports

2019 on track to being the “worst year on record” for breach activity: Report

August 22 2019

in
Data breach

“3,813 breaches were reported through June 30,exposing over 4.1 billion records.Compared to the midyear of 2018, the number of reported breaches was up 54% and the number of exposed records was up 52%.Already in 2019, three breaches have made the list for the ten largest breaches of all time.”

Risk & Fraud

North Korean Cyberattacks on South Africa – Banks Respond

August 21 2019

“South African banks have said they did not fall prey to North Korean hackers, and the Payments Association of South Africa and the South African Banking Risk Information Centre have stated that no security breaches in local SWIFT systems have been reported. This follows reports last week that South Africa was one of 17 countries […]

Risk & Fraud

Aussie Banks Warn Customers After Fresh PayID Data Breach

August 21 2019

in
Faster payments

“NPP Australia said that an undisclosed number of PayID records “and associated data in the Addressing Service were exposed by a vulnerability in one of the financial institutions sponsored into the NPP by Cuscal Limited.” “Cuscal has confirmed that the client-side technical issues underlying the exposure were identified and resolved immediately,” it said in an […]

Risk & Fraud

Breach at Hy-Vee Supermarket Chain Tied to Sale of 5M+ Stolen Credit, Debit Cards — Krebs on Security

August 23 2019

“On Tuesday of this week, one of the more popular underground stores peddling credit and debit card data stolen from hacked merchants announced a blockbuster new sale: More than 5.3 million new accounts belonging to cardholders from 35 U.S. states. Multiple sources now tell KrebsOnSecurity that the card data came from compromised gas pumps, coffee […]

Risk & Fraud

The Extortion Economy: How Insurance Companies Are Fueling a Rise in Ransomware Attacks

August 29 2019

in
Ransomware

““Our insurance company made [the decision] for us,” city spokesman Michael Lee, a sergeant in the Lake City Police Department, said. “At the end of the day, it really boils down to a business decision on the insurance side of things: them looking at how much is it going to cost to fix it ourselves […]

Reports

In Six Months, There Has Been 13% Growth in Online Cyber Attacks, Says LexisNexis Risk Solutions

September 11 2019

“Cyber criminals took no time off in the first six months of 2019 as human-initiated attacks against online sites grew by 13% from the same period a year ago, finds the LexisNexis Risk Solutions Cybercrime Report released Tuesday. Bots, too, evolved to target new account creations. Bot attacks targeting new e-commerce account creations increased 171% […]

Risk & Fraud

Fraudsters Used AI to Mimic CEO’s Voice in Unusual Cybercrime Case

September 3 2019

“Criminals used artificial intelligence-based software to impersonate a chief executive’s voice and demand a fraudulent transfer of €220,000 ($243,000) in March in what cybercrime experts described as an unusual case of artificial intelligence being used in hacking. The CEO of a U.K.-based energy firm thought he was speaking on the phone with his boss, the […]

Risk & Fraud

NY Payroll Company Vanishes With $35 Million — Krebs on Security

September 12 2019

“MyPayrollHR, a now defunct cloud-based payroll processing firm based in upstate New York, abruptly ceased operations this past week after stiffing employees at thousands of companies. The ongoing debacle, which allegedly involves malfeasance on the part of the payroll company’s CEO, resulted in countless people having money drained from their bank accounts and has left […]

Risk & Fraud

ACI Empowers Everlink to Launch New Machine Learning Fraud Management Solution

September 9 2019

“The company required an intuitive machine learning offering to scale up its existing skills and expertise and drive efficiencies while maintaining high security standards. Leveraging the ACI Model Generator™ within UP Payments Risk Management, Everlink quickly built and deployed machine learning models to drive its eSCORE fraud management solution, which analyzes multiple features of each […]