Russian authorities have reportedly detained Mikhail Pavlovich Matveev, known by aliases such as Wazawaka, Uhodiransomwar, and Boriselcin. Matveev, wanted by the FBI since 2023, is linked to major ransomware groups including Hive, LockBit, and Babuk, which have been responsible for devastating cyberattacks on critical infrastructure, government agencies, and businesses worldwide.
In a significant blow to national financial security, hackers have infiltrated the Central Bank of Uganda's systems, breaching its firewalls and siphoning off $17 million from Treasury accounts.The attack, discovered earlier this week, has raised alarms about the robustness of cybersecurity infrastructure within critical financial institutions, not only in Uganda but across the African continent.
Regnology, a leading software provider with a focus on regulatory reporting solutions, announced today the acquisition of VERMEG‘s regulatory reporting division – AGILE – which was previously part of the Lombard Risk portfolio.
According to an IBM study, the average cost of a data breach in 2024 has climbed to nearly $5 million, marking a 10% increase from the previous year. At the AFP national conference, this stark reality set the stage for an immersive session aimed at equipping finance teams with the skills needed to respond swiftly and effectively to cyber threats.
Finastra, a leading provider of solutions to over 8,000 financial institutions, is investigating a breach of its internal file transfer platform, where hackers stole more than 400 gigabytes of data.
The Consumer Financial Protection Bureau (CFPB) has highlighted the growing influence of platforms like Apple Pay and PayPal in the payments industry as Big Tech continues to blur the lines between traditional banking and commercial activities.
Losses from Authorized Push Payment (APP) scams are projected to reach $7.6 billion by 2028 across six major real-time payment markets, including the U.S., U.K., and Brazil, according to ACI Worldwide’s latest Scamscope report.
Ilya Lichtenstein has been sentenced for his role in a massive money laundering conspiracy stemming from the 2016 hack of the cryptocurrency exchange Bitfinex. Court documents revealed that Lichtenstein infiltrated Bitfinex’s network and executed over 2,000 transactions, transferring 119,754 bitcoin—worth $70 million at the time—into a wallet under his control. The stolen cryptocurrency’s value has since skyrocketed to an estimated $10.5 billion.
