Ransomware

The botnet of 700,000 computers — many in the U.S. — had assisted in major ransomware attacks, with the financial sector as its primary target.

The attack on AvidXchange, which the company said it learned about in early April, exposed its bank account numbers and some embarrassing security practices. It's part of a growing trend of data exfiltration attacks.

Alphv developers claimed responsibility for an attack that started last week against the payments and digital banking software maker. The ransomware is more sophisticated than many of its peers.

A consortium of financial companies said premiums are rising despite a relatively low level of overall risk, causing some banks to reconsider their policies.

The increases may simply reflect better detection and reporting, but banks continue to facilitate large ransom payments to sanctioned individuals.

A new wave of cyberattacks is targeting banks and other companies, two research groups have found.

The government helped the gas pipeline operator recoup some of the funds it paid to cyberthieves, but that's unlikely to happen often. Banks should shore up password security to minimize risk and be willing to reject hackers' demands in the event of a breach.

Before its disappearance, Avaddon said it hacked Valley National Bank's network and threatened to leak sensitive data. The bank is still investigating.

Hackers, including the group behind the breach at Colonial Pipeline, have posted convincing evidence that they have broken into the servers of community banks in Florida and California and stolen customers' data.

By upgrading permissions and defining access, firms can get ahead of the new threat, says vArmour's Marc Woolword.

Remote learning and work heightens the security risk, says Pulse Secure's Mike Riemer.

Organizations need complete control over which network access privileges are assigned to each user or role, says Pulse Secure's Rene Papp.

Executives and technology analysts offered a host of concerns that are likely to dog credit unions well into the new year.

Increases in attacks, escalating money demands and the security challenges of having people work from home are magnifying the threat.

Increases in attacks, escalating money demands and the security challenges of having people work from home are magnifying the threat.

Netwalker attacks are known to target victims using phishing emails disguised as COVID-19 updates from their organization, taking advantage of the heightened fears and anxieties that come with the current pandemic, says Stealthbits Technologies' Dan Piazza.

By implementing email protections and patches, the bank was able to protect mobile payments, ATMs, and digital banking, says Red Canary's Tony Lambert.

Cybercriminals have targeted at least four financial services technology companies in recent months, potentially giving hackers back-door access to clients. Here’s how banks can guard against that.

Fraudsters are licking their chops at the prospect of businesses and financial services extending remote working because of the coronavirus pandemic.

Hacker emails disguised as pleas for aid have surged in the past month, and they're targeting bank employees and the many others working from home.