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Risk & Fraud

A New Breed of ATM Hackers Gets in Through a Bank’s Network

“These system architecture improvements, combined with tailored monitoring to flag and block more fraudulent fund transfers, have inspired scammers to innovate in kind. In an attack on India’s Cosmos bank last August, hackers stole $13.5 million by infecting the bank’s ATM server with malware that retrieved customer information and their assigned SWIFT codes. Then they […]
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Risk & Fraud

AeroGarden Maker Says Hackers Stole Months of Credit Card Data

“Bad news for home gardeners: criminals might have your credit card data. AeroGrow, the maker of the at-home garden kit AeroGarden, said in a letter to customers that its website had credit card scraping malware for more than four months. The company said anyone who bought something through its website between October 29, 2018 and […]
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Risk & Fraud

Stolen Payment Cards For Sale Linked to Breach at Restaurant Operator Earl Enterprises

“Mark the latest data breach as another conquest for hackers. Earl Enterprises, owner of the Buca di Beppo, Bertucci’s, Planet Hollywood, and the Earl of Sandwich restaurant chains, among others, said point-of-sale malware captured credit and debit card information from May 23, 2018, through March 18, 2019, at a variety of its locations. Restaurants potentially […]
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Risk & Fraud

Checkers/Rally’s Payment Card Breach in 19 States’ Stores

“Checkers Drive-In Restaurants is notifying guests about a data security issue involving malware at certain Checkers and Rally’s locations in 19 states, according to a news release. The brand said that after becoming aware of the issue, data security experts investigated and coordinated with federal law enforcement, while dispatching third-party security experts to contain and […]
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Risk & Fraud

7.7 Million LabCorp Records Stolen in Same Hack Affecting Quest Diagnostics

“LabCorp is the latest laboratory testing giant this week to confirm it’s affected by the same third-party data breach. The Burlington, North Carolina-based medical giant said 7.7 million patients had their personal and financial data stolen by hackers, which hit the payment pages of the American Medical Collection Agency, a third-party vendor that processes payments […]
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Regulation

British Airways Faces Record £183m Fine for Data Breach

“The airline, owned by IAG, says it is “surprised and disappointed” by the penalty from the Information Commissioner’s Office (ICO). At the time, BA said hackers had carried out a “sophisticated, malicious criminal attack” on its website. The ICO said it was the biggest penalty it had handed out and the first to be made […]
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Risk & Fraud

Nearly a Third of Retailers Say Online Sales Represent the Greatest Increase in Fraud at Their Companies

“Nearly 50% of retail loss prevention professionals are getting bigger budgets to help quell fraud, according to a report released by the National Retail Federation earlier this month. 44.5% of loss prevention professionals surveyed said their budgets for loss prevention efforts are increasing, and 68.2% say they’ll allocate additional resources to stop fraud, most of […]
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Reports

Data Breaches Cost $654 Billion in 2018

“Data from ForgeRock found that cyberattacks to U.S. financial services organizations cost the industry more than $6.2 billion in Q1 2019 alone, up from just $8 million in Q1 2018. Even though investments in information security products and services have been on the rise, with $114 billion invested in 2018, cybercriminals continue to attack organizations […]
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