Since Zelle fraud has increased 109% in the United States, the banking industry is struggling to reduce authorized push payment scams. Ken Palla, former director at Union Bank, shares tips for combating fraudsters, including delays on large transactions, education and behavioral analytics.
Europe faces an annual investment gap of 1.75 billion euros in the cybersecurity industry compared to the United States, warn the European Commission and the European Investment Bank. They propose a new fund dubbed the European Cybersecurity Investment Platform to foster domestic industry growth.
Australia's largest private health insurer has transformed over a week from being confident that it repelled a cyber incident to being apologetic after disclosing that hackers got away with up to 200 gigabytes of customer data. Australian Federal Police are investigating the incident at Medibank.
Hacking capabilities once reserved for nation-states are filtering down to the level of crimeware, warns Kaspersky researcher Sergey Lozhkin. Darknet forums are filled with self-taught hackers selling advanced capabilities for a good price, he says.
Australian health insurer Medibank says it received a ransomware demand from hackers asserting to have stolen data during a cybersecurity incident the company detected on Oct. 12. "Based on our ongoing forensic investigation we are treating the matter seriously at this time," the company says.
Personal data from MyDeal, a marketplace owned by Australia's Woolworths Group grocery chain, has appeared for sale on a data leak forum. It comes as wine retailer Vinomofo disclosed a breach and as the Optus telecommunications breach continues to fuel data security concerns in Australia.
In the latest "Proof of Concept," Lisa Sotto of Hunton Andrews Kurth LLP and former CISO David Pollino join ISMG editors discuss the first California consumer protection fine issued against retailer Sephora, defending against new ransomware tactics, and mitigating the impact of Zelle scams.
Australian health insurer Medibank told investors it stopped a probable ransomware attack before the attack could steal data or maliciously encrypt its systems. Australia has been undergoing an apparent spate of data breaches that continues with a breach of email addresses at e-commerce site MyDeal.
Australian health insurer Medibank Group says it has found no evidence of data compromise following its Wednesday detection of unusual network activity. The company, which serves nearly 4 million Australians, restored access to its policy websites on Friday.
The latest ISMG Security Report examines whether banks should be held liable for the rapidly increasing Zelle fraud problem, explores the latest M&A activity among IAM vendors, and discusses the implications of the new legal framework for personal data transfers between the U.S. and Europe.
Lloyd's of London says it has fully restored network services and that an investigation uncovered no evidence of a compromise. The insurance and reinsurance marketplace giant took systems offline last week after detecting what it called "suspicious activity."
Lloyd's of London is probing a possible cybersecurity incident that led it to yank some systems offline. Details are scarce at the moment, including whether the incident is malicious or involves ransomware and who may have instigated the incident.
Paige Thompson, the Capital One hacker known as "erratic," was sentenced to time served and five years of probation following her June conviction in U.S. federal court. The five-time felon exploited a weakness in web application firewalls on AWS accounts to steal data of 100 million individuals.