Report: cybercrime causes over $600 billion in damages annually

"It is a low risk crime that provides high payoffs. A smart cybercriminal can make hundreds of thousands, even millions of dollars with almost no chance of arrest or jail."

financial news

Why GDPR is flipping the thought process around data ownership

by Greg Otto • 5 days ago

In a new podcast, CyberScoop gets experts to separate fact from fiction when it comes to GDPR.

Banks preparing for heightened New York cybersecurity laws to take effect

by Shaun Waterman • 6 days ago

This week, senior executives from more than 3,000 banks, insurers and other financial services companies doing business in New York will have to personally certify that their computer networks are protected by a cybersecurity program appropriate for their organization’s risk profile.

FS-ISAC releases API for safer data sharing

by Zaid Shoorbajee • 7 days ago

The Financial Services Information Sharing and Analysis Center is releasing the API in order “to foster universal adoption of a more secure and robust data sharing framework."

Watchdog: Despite progress, IRS needs to improve electronic fraud detection

by Zaid Shoorbajee • 2 weeks ago

An auditor at the Treasury Department commended the IRS for improvements, but said there's still work to be done.

Newly uncovered malware uses DNS requests to siphon credit card data

by Zaid Shoorbajee • 2 weeks ago

Normally, point-of-sale malware uses HTTP requests to exfiltrate data. Using DNS requests allows attackers to avoid detection.

Oh, banks have cameras? Two men arrested for ATM jackpotting scheme must've forgot

by Patrick Howell O'Neill • 2 weeks ago

Perpetrators dress up like repair technicians and then use malware to get the ATM to eject thousands of dollars of cash.

Cybersecurity pros will get paid more in 2018 than ever before, headhunting firms say

by Chloe Kim • 3 weeks ago

Research from recruitment firm Robert Walters predicts that cybersecurity salaries will rise 7 percent in 2018. The broader information technology sector is also expected to experience a 2 percent salary increase overall.

Bitcoin hype pushes hackers to stash their money in lesser-known cryptocurrencies

by Chris Bing • 2 months ago

Lesser-known cryptocurrencies like Monero, Dash and ZCash are all the rage in the criminal underground.

North Korean hackers are impersonating a cryptocurrency company to target bitcoin fans

by Zaid Shoorbajee • 2 months ago

The scam is perpetrated using a fake job posting at a cryptocurrency company. If downloaded the document can install a backdoor on the victim's computer, making it prone to more malware that can potentially steal information.

Experts: Time is running short to meet GDPR requirements

by cyber_admin • 2 months ago

"Thousands of companies have no idea they're directly covered by this law."

How Verizon delicately handled the Yahoo breach

by cyber_admin • 2 months ago

Craig Silliman, Verizon’s EVP of Public Policy and General Counsel, said Verizon didn't panic when Yahoo announced a very bad breach in late 2016.

Meet Money Taker, the latest hacking group tied to Russian cybercrime

by Chris Bing • 2 months ago

Group-IB believes Money Taker is an entirely new, previously unknown hacking group.

Bitdefender valued at $600M after private equity company buys significant minority stake

by Greg Otto • 3 months ago

Vitruvian Partners, a London-based private equity firm, acquired approximately 30 percent of Bitdefender from existing shareholder Axxess Capital.

Florida-based credit firm left 111GB of sensitive customer data exposed on AWS server

by Patrick Howell O'Neill • 3 months ago

UpGuard researcher Chris Vickery found another open S3 instance, with a Florida-based credit firm leaving extremely sensitive data on the public internet.

Dark web intelligence firm Terbium Labs raises $6 million

by Patrick Howell O'Neill • 3 months ago

Founded in 2013, Terbium Labs has raised a total of $15 million off of their product Matchlight, the company's dark web automated data monitoring system.

Ransomware is now a $2 billion-per-year criminal industry

by Patrick Howell O'Neill • 3 months ago

Criminals are raking in the profits while working on ways to make new versions of ransomware more powerful than ever.

Report: DMARC email security can be too hard for some large companies

by Shaun Waterman • 3 months ago

The myriad configurations that have to be completed is one of many hindrances to organizations who could benefit from the protocol.

Looking to fit it all together, banks adopt standards for cyber automation and integration

by Shaun Waterman • 3 months ago

This week, the Financial Services Information Sharing and Analysis Council said it was adopting the Integrated Adaptive Cyber Defense system — basically a collection of best practices, community-consensus driven standards, and open-source software projects.

Experts say government's information sharing program is all take and no give

by Shaun Waterman • 3 months ago

Cyberthreat information sharing among private sector companies and with the federal government suffers from a tragedy of the commons, lawmakers were told Wednesday — everyone wants to receive, but few are prepared to make the effort to give back.

As cryptocurrencies grow, so does the demand to track their users

by Patrick Howell O'Neill • 3 months ago

The business of bitcoin surveillance is booming.

Continue to CyberScoop.com