Sonic Automotive, a major player in the U.S. automotive retail market and headquartered in North Carolina, faced a significant financial setback following a recent ransomware incursion. This digital attack, targeting CDK Global, a pivotal software provider for numerous dealerships across North America, resulted in a marked decrease in Sonic’s earnings per share by a third for the quarter ending June 30.

Source: S-RM

Leading global intelligence and cyber security consultancy S-RM has today announced the appointment of Tom Yoxall and Mark Long as part of its ongoing investment into post-incident restoration and recovery services.

A recent update from cybersecurity firm CrowdStrike caused a significant disruption to banks and payment systems globally, leading to widespread outages and operational challenges. This unexpected glitch in the update affected Microsoft's infrastructure, resulting in downtime for several key financial services and payment processors that rely heavily on Microsoft's cloud services.

A recent study by Commvault reveals that 83% of organizations have faced a significant security breach, with over half occurring in the past year. This highlights the urgent need for robust cyber recovery strategies. Security professionals are increasingly concerned about external threats and acknowledge the inevitability of breaches.

Over the past six months, Android financial threats have surged, targeting mobile banking funds through traditional malware and cryptostealers, as reported by ESET.

Days after claiming responsibility for hacking the US Federal Reserve, the Russia-linked LockBit ransomware gang has leaked customer data from Evolve Bank & Trust on the dark web.

The Federal Reserve has launched a sophisticated AI-driven tool called the ScamClassifier model, aiming to bolster the fight against financial fraud. This new initiative is designed to enhance scam reporting, detection, and mitigation within the payments industry.