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The Target: Financial services firm Paysign. Paysign brought in a revenue of about $12 million last quarter through its prepaid card programs, payment processing systems and digital banking services.
The Take: 1,242,575 records containing the full names of customers, addresses, dates of birth, phone numbers and account balances.
The Vector: A cybercriminal with the name “emo” claimed to have taken the data and leaked it on to a hacking forum. The company declined to provide any further information regarding how the attack occurred.
With the fintech industry experiencing rapid growth, this leak stands as a clear reminder of the critical role of robust cybersecurity measures. Fintech companies manage and store exceptionally sensitive customer data. This breach is a stark reminder of how authentication controls are in an overall robust cybersecurity posture, and that good password hygiene plays a pivotal role in protection.
PR Newswire: Nozomi Networks Inc., the worldwide leader in OT and IoT security, announced a $100 million Series E funding round to help accelerate innovative cyber defenses and expand cost-efficient go-to-market expansion globally.
Investment Executive: The Canadian Investment Regulatory Organization (CIRO) is updating its exam timeline for mutual fund dealers and sharing what its areas of focus will be during upcoming exams for all dealers.
Help Net Security: From a security point of view, it always pays to think one step ahead and about what might be coming next. One of the latest breakthroughs in AI technology is “interactive AI”.
SecurityWeek: The new investment round was led by J.P. Morgan Growth Equity Partners, with additional funding from existing investors Bessemer Venture Partners and TIN Capital.
GlobeNewswire: According to a recent report published by Allied Market Research, the global cybersecurity for critical infrastructure in the financial sector industry generated $9,012.96 million in 2022, and is anticipated to generate $17,465.33 million by 2032, witnessing a CAGR of 6.9% from 2023 to 2032.
Dark Reading: According to officials, threat actors breached the Cybersecurity and Infrastructure Security Agency's (CISA) systems using Ivanti product vulnerabilities back in February.
Bleeping Computer: New York-based securities lending platform EquiLend Holdings confirmed in data breach notification letters sent to employees that their data was stolen in a January ransomware attack.
The Target: Houser LLP, a U.S. law firm that specializes in serving high-profile financial institutions.
The Take: The data included names and one or more of Social Security number, driver’s license number, individual tax identification number, financial account information, and medical information.
The Vector: The company said certain files were encrypted during the incident and were “copied and taken from the network.”
This breach highlights the extreme importance of timely software updates for known software vulnerabilities, not only in systems directly under a firm’s control, but in third-party systems the firm relies upon as well. The longer a firm, or its vendors, hold out on deploying the most up-to-date software for their systems, the greater the chance an attacker will exploit the issue.
Financial Newswire: While at least one industry superannuation fund continues to deal with APRA over a cyber-security incident a year ago, the Association of Superannuation Funds of Australia (ASFA) has made clear to the Government that its member funds do not want minor security incidents being automatically escalated to APRA.
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