European banks temporarily froze PayPal transactions worth billions after fraud system failure triggered widespread suspension of direct debits and delayed payments for online merchants and customers.
A number of German lenders, including Bayerische Landesbank, Hessische Landesbank and DZ-Bank, reportedly halted direct debits linked to the online payment platform after detecting suspicious activity. German newspaper Süddeutsche Zeitung said the total amount involved could exceed €10 billion.
Read more…
Source: TechRadar News
Sign up for the Cyber Security Review Newsletter
The latest cyber security news and insights delivered right to your inbox
Related:
- Cyber threats continue to plague Philippine financial institutions
September 17, 2024
The financial industry remains a prime target for cyberattacks, despite the Bangko Sentral ng Pilipinas’ (BSP) new framework to enhance cyber resilience, a global cybersecurity and digital privacy company has warned. Kaspersky, a cybersecurity firm, reported that the finance sector experiences the highest losses due to online fraud, as scammers increasingly exploit customer data for account ...
- North Korean threat actor Citrine Sleet exploiting Chromium zero-day
August 30, 2024
On August 19, 2024, Microsoft identified a North Korean threat actor exploiting a zero-day vulnerability in Chromium, now identified as CVE-2024-7971, to gain remote code execution (RCE). Microsoft researchers assess with high confidence that the observed exploitation of CVE-2024-7971 can be attributed to a North Korean threat actor targeting the cryptocurrency sector for financial gain. Microsoft ...
- #StopRansomware: RansomHub Ransomware
August 29, 2024
The Federal Bureau of Investigation (FBI) and partners are releasing this joint advisory to disseminate known RansomHub ransomware IOCs and TTPs. These have been identified through FBI threat response activities and third-party reporting as recently as August 2024. RansomHub is a ransomware-as-a-service variant—formerly known as Cyclops and Knight—that has established itself as an efficient and successful ...
- Interpol busts Black Axe global crime network, arrest over 300
August 28, 2024
The International Criminal Police Organisation (INTERPOL) Police units had in a coordinated action in 21 countries between April and July 2024 arrested over 300 people with links to Nigerian criminal group Black Axe and other affiliated groups. In a statement, Interpol said operation “Operation Jackal III” led to hundreds of arrests, the seizure of assets worth ...
- Laybuy collapsed after unreported cyber attack
August 26, 2024
A Klarna rival collapsed into bankruptcy after millions of pounds was stolen in a cyber attack. The collapse of Laybuy, a buy now, pay later (BNPL) start-up, followed a previously unreported hacking between December and February that left the business on the brink. Laybuy, which had more than 750,000 customers and was headquartered in New Zealand, filed ...
- Approach to mainframe penetration testing on z/OS
August 20, 2024
Information technology is developing at a rapid pace, with completely new areas emerging, such as DevOps and DevSecOps – and we’re striving to keep up. However, in some projects, you may encounter systems built on rather outdated principles. Such systems must be approached with care, since a single mistake can lead to data loss and ...