Banks and Payments Disrupted Worldwide by Faulty CrowdStrike Update
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.
Cybersecurity Study Reveals Critical Need for Advanced Recovery Strategies
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.
Surge in Android Financial Threats and Infostealing Malwar
Over the past six months, Android financial threats have surged, targeting mobile banking funds through traditional malware and cryptostealers, as reported by ESET.
LockBit Leaks Evolve Bank Data After Fed Hack Claims
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.
Fed Launches ScamClassifier: A New AI Tool to Combat Financial Fraud
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.
Manufacturing Sector Faces Surge in Ransomware Payments, Average Payouts Hit Record High
The manufacturing sector saw a significant rise in ransomware attacks in 2023, with two-thirds of organizations affected.
Microsoft's Brad Smith: Pledges Accountability for Security Lapses
Brad Smith, Microsoft's President and Vice Chair, vows to fully address security failures outlined in a March Cyber Safety Review Board report during his April 12, 2023 testimony at the Semafor World Economic Summit in Washington D.C. He acknowledges Microsoft's pivotal role in global cybersecurity, operating data centers in 32 countries and collaborating closely with the U.S. government and allies.
Organizations Struggle with Breach Detection as AI and Cloud Complexity Rise, Reports Gigamon
Organizations are struggling to detect increasingly sophisticated breaches, with over one-third reporting their security tools fail to identify breaches, according to Gigamon.
