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Information Security

In 2023, Americans Fell Victim to $10 Billion in Fraud, with Investment Schemes Leading the Losses. Federal Trade Commission data reveals that fraud costs Americans over $10 billion in 2023, with investment scams responsible for nearly half of these losses.

Bank of America is alerting its customers about a data breach that occurred due to a security lapse at Infosys McCamish Systems, a company that provides services for deferred compensation plans at the bank.

The Swedish central bank, Riksbank, has taken legal action by filing a police report following a ransomware assault on Tietoevry, a software company.

Kroll, a prominent risk and financial advisory company, has provided additional insights into the data breach that occurred in August, exposing the personal information of FTX bankruptcy claimants. The breach, previously reported, compromised sensitive details, including coin holdings and balances, potentially enabling malicious actors to identify and target individuals heavily invested in cryptocurrency markets.

Clorox, an American manufacturer of consumer and professional cleaning products, has confirmed that a cyberattack in September 2023 has resulted in expenses totaling $49 million related to incident response efforts.

The US Securities and Exchange Commission (SEC) Acknowledges Hacking of Official Account in a Cybersecurity Breach

Source: Cleafy

In the ever-evolving landscape of banking and financial security, new malware variants poses a significant and imminent challenge.

A major Maine healthcare provider experienced a cyberattack targeting its computer servers over the weekend, prompting the company to temporarily shut down all patient records access.

JPMorgan Chase has experienced a significant surge in hacking attempts on its systems over the past year, according to Mary Callahan Erdoes, the chief executive of the bank's asset and wealth management division. Speaking at the World Economic Forum in Davos, Erdoes highlighted the escalating threat posed by increasingly sophisticated and rapid cyberattacks.

On November 26, an isolated cybersecurity incident struck Ongoing Operations, a unit of Trellance, impacting the operations of approximately 60 credit unions that are clients of the firm. In response to the incident, the vendor, Ongoing Operations, promptly took action and initiated an investigation. The company also informed federal law enforcement about the cyber attack.

Source: NCSC

Artificial intelligence (AI) is expected to increase the global ransomware threat over the next two years cyber chiefs have warned in a new report published today (Wednesday).

The European Central Bank is set to conduct its inaugural thematic stress tests focused on evaluating the cyber resilience of individual banks. These tests, involving 109 supervised banks, will simulate a scenario where a cyberattack successfully disrupts the daily business operations of each bank.

Scammers have devised a sophisticated hotel booking scam by hijacking Booking.com accounts, prompting guests to share their payment card information. Researchers from Secureworks warned that customers received deceptive emails or in-app messages, appearing to be from hotel owners, requesting payment details for upcoming stays.

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