Americans were tricked out of a record $5.6 billion through cryptocurrency fraud in 2023, a 45% increase from 2022, according to a recent FBI report. Nearly 70,000 complaints were filed in 2023, with investment scams accounting for $3.96 billion of the losses, and the true figure may be much higher due to unreported cases. According […]
Americans Tricked Out of a Record $5.6B in Crypto Scams in 2023 Read More »
Nearly 1 million Medicare beneficiaries in Wisconsin are the latest potential breach victims as the list of MOVEit victims coming forward continues to grow. Progress Software, the developer of MOVEit, discovered and disclosed the breach on May 31, 2023, but it wasn’t until recently that the Wisconsin Physicians Service Insurance Corporation (WPS)—a Centers for Medicare
Every person in America may have had their Social Security numbers stolen and shared on the dark web in a massive National Public Data breach. The unprecedented breach involved 2.9 billion records, including names, phone numbers, and addresses. According to a class-action lawsuit filed in the U.S. District Court in Fort Lauderdale, Fla., a hacker
Unprecedented data breach exposes 2.9 billion Social Security numbers Read More »
Companies are looking at the lessons to be learned from the latest cybersecurity breaches. Data cloud company Snowflake has announced plans to make multi-factor authentication (MFA) mandatory for customers in light of recent attacks. The use of multi-factor authentication (MFA) could prevent as much as 80–90% of cyber-attacks, according to figures cited by the US
Lessons to be Learned from the Latest Cybersecurity Breaches Read More »
The Snowflake data breach that began in April 2024 is snowballing into one of the largest in history, impacting nearly 200 companies so far. The Montana-based data warehousing platform revealed that hackers had been attempting to access its customers’ accounts using stolen login details. The breach is linked to attacks on numerous companies with news
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It’s getting tougher to identify a phishing attack with AI technology boosting the frequency and sophistication of phishing schemes. According to recent research by a group of Harvard professors and cybersecurity experts, 60% of participants fell victim to artificial intelligence (AI)-automated phishing, which is comparable to the success rates of non-AI-phishing messages created by human
AI Boosting the Frequency and Sophistication of Phishing Schemes Read More »
Scammers duping people by posing as workers at big-name brands like Best Buy’s Geek Squad, Amazon and PayPal stole more than $660 million through business-impersonation scams in 2023, according to a report released by the Federal Trade Commission. Such scams have become more prevalent since the pandemic. For example, in the first three months of
Scammers posing as workers at big-name brands stole more than $660 million in 2023 Read More »
Criminals are more skilled at using AI to commit financial crimes than banks are at using AI to stop them, according to a BioCatch survey. BioCatch surveyed fraud-management, anti-money laundering, and risk and compliance officials from 11 countries. Nearly 70% reported an increase in financial crime activity over the past year and about half of
AI-Focused Financial Crime a Growing Concern Banks Must Monitor Read More »
The latest healthcare cybersecurity risk impacting more than 13 million former and current patients of California-based Kaiser Foundation Health Plan is part of the record-breaking trend that has been in motion. The company has notified patients that it unknowingly shared their information with third-party advertisers, including Google, Microsoft and X (formerly Twitter.) Kaiser Foundation Health
ChatGPT plugins pose security risks that could provide loopholes for threat actors to seize control of an organization’s account on third-party platforms and access Personal Identifiable Information (PII). ChatGPT plugins enable users to access up-to-date information (rather than the relatively old data the chatbot was trained on), as well as to integrate ChatGPT with third-party
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