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:
- CrowdStrike Took Down Australia And Half The World Now Facing Massive Compensation Claims
July 19, 2024
The reputation of a Company that describes themselves as one of the world’s best cyber security Companies is in tatters tonight, with the US business facing the potential of being sued by hundreds of business including major retailers in Australia and insurance Companies looking to claw back payouts for lost income, airline delays and customers ...
- What Is CrowdStrike? Security Company Implicated In Online Outage
July 19, 2024
CrowdStrike is a company that provides cloud-based online security solutions. Its software is used by some of the largest players in cloud services, including Amazon’s AWS. CrowdStrike has also been implicated in the global outage that has impacted retailers, airlines, media companies and more. The company’s co-founder has acknowledged the issue, and says a fix has ...
- CVE-2024-38112: Void Banshee Targets Windows Users Through Zombie Internet Explorer in Zero-Day Attacks
July 15, 2024
Trend Micro Zero Day Initiative (ZDI) discovered the MHTML remote code execution (RCE) vulnerability CVE-2024-38112. Trend Micro researchers immediately alerted Microsoft of this vulnerability being used in–the-wild as ZDI-CAN-24433. CVE-2024-38112 was used as part of an attack chain by the advanced persistent threat (APT) group Void Banshee, which targets North American, European, and Southeast Asian regions ...
- Lessons From Restaurant Data Breaches
July 11, 2024
When was the last time you paid for something in cash? According to the Federal Reserve, only about one in five transactions are paid for by cash. With the advent of mobile payment apps, cash is no longer king. Some Americans even go so far as to say they believe hard currency will be obsolete at ...
- An In-Depth Look at Crypto-Crime in 2023 Part 1
July 8, 2024
Cryptocrime refers to any criminal activity involving the use of cryptocurrency. This can include theft, fraud, money laundering, and other illicit activities. Cryptocurrencies, such as Bitcoin and Ethereum, operate on decentralized networks and are not issued or controlled by any central authority. This makes them an attractive target for criminals due to their anonymity and lack ...
- Mekotio Banking Trojan Threatens Financial Systems in Latin America
July 4, 2024
The Mekotio banking trojan is a sophisticated piece of malware that has been active since at least 2015, primarily targeting Latin American countries with the goal of stealing sensitive information — particularly banking credentials — from its targets. Originating in the Latin American region, it has been particularly prolific in Brazil, Chile, Mexico, Spain, and Peru. ...