The cost of cyberattacks is reportedly growing alongside the increases in digitization and artificial intelligence (AI). “If cybercrime damage were a state, it would be the world’s third-largest economy,” Bank of America said in a Thursday investor note, Seeking Alpha reported Thursday (Oct. 10). The financial institution’s note...
The FTC is refunding $449,000 to victims of a telemarketing scam involving extended automobile warranties. According to a Thursday (Oct. 10) news release from the Federal Trade Commission (FTC), the scam was carried out by a company known as American Vehicle Protection Corp. The regulator said the scam involved...
Fidelity Investments has disclosed a data breach that affected 77,099 customers. The breach occurred Aug. 17 and was discovered Aug. 19, the financial services company said in data breach notifications filed Wednesday (Oct. 9) with the Office of the Maine Attorney General. “Between August 17...
The Federal Trade Commission (FTC) plans to require Marriott International and its subsidiary Starwood Hotels & Resorts Worldwide to implement a comprehensive security program. This plan is part of a proposed settlement order regarding the FTC’s charges that three large data breaches from 2014 to 2020 resulted from...
With another major hurricane on the way, three federal agencies are warning companies not to take advantage of these natural disasters and cautioning consumers to watch out for the scams that often accompany these events. Scammers often take advantage of people trying to recover from...
This week marks a major change in how U.K. banks and payment firms address fraud. Beginning Monday (Oct. 7), these organizations will be required to reimburse the victims of authorized push payments (APP) up to £85,000 ($111,000). Great Britain’s Payment Systems Regulator (PSR) had called...
U.S. cybersecurity agents have stopped more than 500 ransomware attacks since 2021. That’s according to a report Friday (Oct. 4) by Bloomberg News, citing comments from Mike Prado, deputy assistant director of the Homeland Security Investigations’ (HSI) Cyber Crimes Center, who also noted that those efforts...
Business productivity suite Zimbra is urging administrators to ensure the latest security updates have been added to their systems, as the company fixed a security vulnerability in September. The security vulnerability in Zimbra’s postjournal service may allow unauthenticated users to execute commands, the company said...
U.K. FinTech Revolut has reportedly criticized Meta’s approach to combating financial fraud. As CNBC reported Thursday (Oct. 3), Revolut argues that the Facebook owner should be the one to provide compensation when scammers prey upon its users. This comes one day after Meta announced it was working with British banks MetroBank...
