cyber crime News

Businesses Face Fewer Cyber Events, But the Attacks Are More Costly

The stakes are higher than ever for businesses when it comes to cyber risk, especially with the added complexity of COVID-19 thrown into the mix. Yet, even before the global pandemic struck, companies had been taking more action than ever …

Preventing Losses Due to Growing Cyber Crime During the Coronavirus Crisis

The insurance industry needs to spend time educating clients on how to best protect themselves as cyber criminals continue to capitalize on new vulnerabilities in the wake of the COVID-19 pandemic. Educating clients is as important as getting them the …

Cyber Criminals Increasingly Will Target Top Executives in Ransomware Attacks: Report

Senior executives increasingly will be targeted by cyber criminals looking for ways to steal money from large corporations, according to a report from cyber analytics provider CyberCube. Organized criminals and hackers are moving away from high volume, low-value methods of …

UK, U.S. Banks and Regulators Warn of Wave of Coronavirus Scams

UK banks are stepping up fraud prevention measures to protect customers from scammers eager to exploit the coronavirus pandemic with a whole range of new tricks, including fake sales of medical supplies and bogus government relief schemes. With British households …

Travelex’s UK Money Transfer and Wire Services Operational After Ransomware Attack

Travelex’s UK international money transfer service and wire offering is fully operational again, it said on Tuesday, almost a month after a crippling ransomware attack forced staff to use pen and paper to calculate foreign currency exchanges. The cyber attack …

Forex Firm Travelex Resumes Customer-Facing Operations After Ransomware Attack

More than two weeks after a crippling ransomware attack forced Travelex staff to use pen and paper to calculate foreign currency exchanges, the company said the first of its customer-facing systems in Britain was up and running again. The cyber …

Forex Firm Travelex Restores Some Online Services After Ransomware Attack

Travelex is restoring operations to process foreign exchange orders electronically, it said on Monday, almost two weeks after cyber hackers took hold of its systems, leading to a global blackout of its online services. Staff at Travelex were forced to …

Travelex Ransomware Attack Part of Growing Trend in Cyber Crime: CyberCube

The ransomware attack against U.K. foreign exchange firm Travelex is just a taste of what’s to come with cyber crime, according to experts at CyberCube, the cyber risk analytics firm. Travelex announced this week that cyber hackers were holding its …

North Korean Hackers Found Partnering With Eastern European Cyber Criminals

North Korean state-backed hackers appear to be cooperating with Eastern European cybercriminals, a report said on Wednesday, a finding that suggests digital gangsters and state-backed spies are finding common ground online. Mountain View, California-based SentinelOne says that the Lazarus Group …

Online Scams Are Catching Newly Vulnerable Icelanders Unprepared

“Hi, I hope you are not busy?” The treasurer of the Icelandic soccer club Afturelding got the email from his manager late in the afternoon, soon before banks were about to close. The words “Sent from my iPhone” were at …