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Brian Montgomery is a partner at Pillsbury and a former NYDFS deputy superintendent. Mark Krotoski is a partner at Pillsbury and former national coordinator for the Computer Hacking and Intellectual Property Program at the Department of Justice. In an article on Bloomberg Law, they write: Cybersecurity regulations can be a constantly moving target, with digital advances and […]
Days after customers started complaining about outages, MoneyGram has confirmed that it was the victim of a cyberattack. Bleeping Computer reports: “MoneyGram recently identified a cybersecurity issue affecting certain of our systems,” reads the announcement. “Upon detection, we immediately launched an investigation and took protective steps to address it, including proactively taking systems offline, which […]
Slim CD is a Florida-headquartered processing gateway that handles electronic payments, including credit card payments for US and Canadian based merchants. On or about June 15, 2024, it detected suspicious activity in its computer environment. SC Media reports that the firm, has notified nearly 1.7 million credit card holders that their data may have been […]
Iran International reports: An Iranian entity paid hackers $3 million in ransom to dissuade them from releasing the data of over 20 hacked banks, Politico reported, confirming Iran International’s earlier report about the “biggest-ever” cyberattack on Iran’s banking system. Iran International reported on August 14 that the major cyberattack targeted several Iranian banks, leading to […]
Bloomberg reports an update on the cyberattack of the WazirX cryptocurrency exchange. The attack, suspected to be linked to the Lazarus Group in North Korea, resulted in the theft of $234 million from the Indian exchange and left WazirX announcing that they were unlikely to recover 43% of the stolen funds. The attacker behind India’s […]
A press release from the Securities and Exchange Commission (SEC): Washington D.C., May 22, 2024 — The Securities and Exchange Commission today announced that The Intercontinental Exchange, Inc. (ICE) agreed to pay a $10 million penalty to settle charges that it caused the failure of nine wholly-owned subsidiaries, including the New York Stock Exchange, to […]
DarkReading reports that Spanish banking giant Santander has disclosed a recent data breach at a third-party provider. Bank customers in Chile, Spain, and Uruguay have reportedly been affected. “No transactional data, nor any credentials that would allow transactions to take place on accounts are contained in the database, including online banking details and passwords,” according to […]
Threat actors known as Scattered Spider are reportedly turning their attention to the financial sector, hitting banks and insurance groups. Resilience Cyber Insurance Solutions, which has been tracking the group, reports they have targeted 29 companies since April 20. Scattered Spider is the group that was previously linked to disrupting casinos and hotels such as MGM […]
Bleeping Computer reports: U.S. mortgage lender loanDepot has suffered a cyberattack that caused the company to take IT systems offline, preventing online payments against loans. loanDepot is one of the largest nonbank retail mortgage lenders in the USA, employing approximately 6,000 people and servicing loans of over $140 billion. Read more at Bleeping Computer. Loan […]
AI Poses a Threat to Financial Sector, and Cyberattackers are ‘Outpacing’ Defenses – Treasury
Law.com reports that the U.S. Treasury Department warned the financial services sector this week that artificial intelligence (AI) will become a powerful weapon for fraudsters and cyberattackers, who will outgun the sector’s defensive efforts in the foreseeable future. The report was based on interviews with representatives from 42 financial services and technology companies about the […]