Accused $100M business email grifter arrested in Lithuania

A Lithuanian man charged with running a two year, $100 million email banking con against two unnamed U.S. tech multinationals was arrested last week by authorities.

financial news

Russian agents allegedly hired this cyber-mercenary to hack Google and Yahoo

by Chris Bing • 1 week ago

Karim Baratov, 22, remains the only suspect in custody as the Justice Department pursues three other suspects. One analyst called Baratov the "wild card" in the case.

Home Depot settles suit on card-data breach for $20 million, security pledges

by Shaun Waterman • 2 weeks ago

The DIY retail chain was hacked and cybercriminals got away with the details of 56 million payment cards — then they got sued by the banks. Now they've settled.

Fileless DNS malware used in SEC-filing cyberattacks

by Shaun Waterman • 3 weeks ago

DNSMessenger, the new super-stealthy malware, is being sued in a spear phishing campaign targeting SEC filings at financial institutions.

Blockchain biz gets new D.C. voice

by Shaun Waterman • 3 weeks ago

The Global Blockchain Business Council announced Wednesday that they were opening a DC office and appointing a board of directors.

Testing finds ‘100 percent’ of mobile banking apps hackable

by Shaun Waterman • 4 weeks ago

The company is not disclosing the names of the vulnerable apps or the banks who made them. "We don't want to finger-point," said a company executive, especially given the 100 percent failure rate. "They are all vulnerable," she said.

Report: IoT devices attacked their own network

by Shaun Waterman • 1 month ago

A university IT system was brought to a near-standstill by a cyberattack from inside its own firewall, when connected devices on its internal network became infected with malware, and overloaded its DNS server.

Turkish hacker gets 8 years in $55M ATM milking scheme

by Shaun Waterman • 1 month ago

The sentence, which also included a requirement that Ercan Findikoglu pay back the $55 million, was announced by Robert Capers, U.S. attorney for the Eastern District of New York.

New malware works only in memory, leaves no trace

by Shaun Waterman • 1 month ago

Kaspersky researchers found the malware, which has been attacking banks and telecom companies, but leaves no trace on the hard drive.

While startups cashed in, total cybersecurity venture funding fell in 2016

by Chris Bing • 1 month ago

Venture capital firms invested roughly $3.1 billion into a record 279 cybersecurity startups last year, according to research published by CB Insights, Thursday. That figure represents a $600 million drop from 2015 to 2016. From an industry stand point, 2016 also saw a decrease in exits — otherwise known as business events in which a company is either sold or acquired. In short, investors make their money on exits.

Network size is no predictor of cyberattack readiness, penetration tests show

by Shaun Waterman • 2 months ago

Small companies were just as vulnerable as large ones in penetration testing performed by Rapid7 white-hat hackers.

‘Samuel Gold’ admits to hacking U.S. banks as part of cybercrime ring

by Chris Bing • 2 months ago

A Brooklyn, New York man plead guilty in federal court Friday of helping operate an international cybercrime ring that targeted U.S. banks and persons, court documents show.

Accountants join pushback on feds’ cyber rules for banks

by Shaun Waterman • 2 months ago

Three professional associations for bean-counters argue that any regulation should only set high-level principles or flexible frameworks — not specific or prescriptive rules which might be duplicative and could become quickly outdated as hacker threats evolve.

IBM invests in platform to help CEOs understand cybersecurity

by Chris Bing • 2 months ago

IBM is betting that CEOs across the country will want to increasingly understand cybersecurity. On Monday, Big Blue announced plans to acquire San Francisco-based Agile 3 Solutions, a developer of data visualization software intended for C-Suite and senior executives. The software is supposed to help executives better comprehend and manage the realtime digital threats facing their organizations.

Report: SEC probing Yahoo’s breach disclosure delay

by Shaun Waterman • 2 months ago

The SEC case may set important benchmarks about when publicly-traded companies need to disclose data breaches.

FINRA takes a hard look at usefulness of blockchain

by Shaun Waterman • 2 months ago

The white paper by the the self-regulatory body for securities traders looks at the possible impact of emerging blockchain technology on the industry.

Business lobby pushes back on cyber rule for banks

by Shaun Waterman • 2 months ago

The proposed rules are duplicative, overly prescriptive and use vague or undefined language, says the U.S. Chamber of Commerce.

FTC hosting FinTech event on Blockchain and AI

by Shaun Waterman • 2 months ago

The March 9 half-day event at the University of California Berkeley would be open to the public and appealed for volunteers to take part in panel discussions.

SWIFT global banking system pilots blockchain tech

by Shaun Waterman • 2 months ago

SWIFT says blockchain isn't ready for primetime — it won't be used for transaction or settlement. But the pilot will test it for real-time monitoring of foreign currency accounts.

Blockchain will secure global derivatives trading

by Shaun Waterman • 2 months ago

The move by the Depository Trust and Clearing Corporation heralds the first time blockchain will be used in the inter-bank settlement process.

Illegal bitcoin exchange operator pleads guilty in case tied to JPMorgan Chase hack

by Patrick Howell O'Neill • 3 months ago

After a massive hack of JPMorgan Chase with international implications, another conspirator plead guilty to operating an illegal Bitcoin exchange used to launder hackers' funds.