A new report(pdf) by Accenture indicates that over the next 5 years, cyberattacks could result in global costs totaling $5.2 trillion. That amount includes both lost revenue for companies and the expenses businesses are likely to incur due to attacks. The high costs have to do with the growth of

In a massive new Magecart campaign, hackers have inserted malicious payment card skimming code into “277 e-commerce websites providing ticketing, touring, and flight booking services as well as self-hosted shopping cart websites from prominent cosmetic, healthcare, and apparel brands”. Magecart is an umbrella term for various criminal groups that attack e-commerce

Cybersecurity experts have noticed an uptick in business email compromise (BEC) scams in which threat actors go after monthly employee paychecks. The scam starts with a threat actor impersonating an employee of a targeted company in an email to the firm’s department that is in charge of payroll. The crook will

In order for companies to thrive in 2019, business leaders need to prepare for a great number of cyberthreats and other risks. According to Chloe Demrovsky, CEO of Disaster Recovery Institutce International (DRI), the most important risks include the potential start of a new worldwide financial crisis; steep fines companies may need

Research by CrowdStrike and FireEye sheds light on the success and modus operandi of Grim Spider, the threat group behind Ryuk ransomware. Over the last six months, Grim Spider has only gone after enterprises, a strategy that seems to be paying off, since the threat actors have already earned about $3,7 million

Cybercrime is a booming economy estimated to cost the world $600bn per year. Naturally, the rise of cybercrime is connected to the ever-increasing importance of the Internet in modern life. However, one major reason for the success of cyber criminals is the fact that very few people receive proper security

American home goods manufacturer OXO International has suffered a data breach involving multiple windows of compromise between June 2017 and October 2018. The breach was most likely the result of a Magecart attack. Magecart refers to various cybercriminal groups known for attacking e-commerce sites and installing digital credit card skimmers onto compromised checkout

According to the Communications Fraud Control Association, telcos and consumers have lost over $38 billion to phone fraudsters over the last decade. The most lucrative scam, accounting for $4 – $6 billion in damages, has been International Revenue Share Fraud (IRSF). IRSF takes advantage of premium phone numbers that charge

Coinbase, a popular cryptocurrency trading platform, has suspended trading of the Ethereum Classic (ETC) currency after it discovered that criminals have been carrying out double-spend attacks on the ETC blockchain for the past few days, starting on January 5. Double-spend attacks require malicious actors to obtain at least 51% of the

“Three Ukrainians have been arrested for hacking more than 100 US companies and stealing millions of customer records, the Department of Justice announced Wednesday. ‘Since at least 2015, FIN7 members engaged in a highly sophisticated malware campaign targeting more than 100 US companies, predominantly in the restaurant, gaming, and hospitality