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:
- Major security flaws in popular Quickblox chat and video framework expose sensitive data of millions
July 12, 2023
Real-time chat and video services available within telemedicine, finance, and smart IoT device applications used by millions of people, rely on the popular QuickBlox framework. QuickBlox supplies mobile and web application developers with a SDK and APIs to deliver not only user management, real-time public and private chat features, for example, but also security features ...
- 12,000 State Bank of India employees’ sensitive data leaked on Telegram channels
July 11, 2023
In a massive data breach incident, the data of more than 12,000 State Bank of India (SBI) employees was leaked on Telegram channels. The leaked data included the employees’ personal information, such as their SBI passbooks, names, addresses, contact numbers, and PAN numbers. The data breach was unearthed after a Telegram channel with the handle @sbi_data ...
- What is the FFIEC Cybersecurity Assessment Tool?
June 29, 2023
The FFIEC Cybersecurity Assessment Tool (CAT) is a diagnostic test designed to help institutions identify risks and gauge cybersecurity preparedness. The tool is primarily for financial and non-depository institutions, enabling organizations to make risk-driven security decisions informed by regular cybersecurity assessments and standardized risk measurement criteria. While it is voluntary, financial institutions have expressed concern that ...
- Two Prudential companies in Malaysia affected by MOVEit data-theft attack
June 13, 2023
Prudential Assurance Malaysia Bhd (PAMB) and Prudential BSN Takaful Bhd (PruBSN) have confirmed that they have been affected by the global MOVEit data-theft attack, “where a zero-day vulnerability was exploited.” The two insurance companies said that as soon as they became aware of the breach, “we took action to isolate the affected server while the incident ...
- The Role of the SEC in Enforcing InfoSec Legislation
June 12, 2023
Founded 85 years ago at the height of the Great Depression, the Securities and Exchange Commission (SEC) has a clear mission: to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. Put simply, the SEC aims to protect US investors by maintaining a fair market. The SEC doesn’t work directly with investors, however. ...
- Ukrainian hackers take down service provider for Russian banks
June 9, 2023
A group of Ukrainian hackers known as the Cyber.Anarchy.Squad claimed an attack that took down Russian telecom provider Infotel JSC on Thursday evening. Among other things, Moscow-based Infotel provides connectivity services between the Russian Central Bank and other Russian banks, online stores, and credit institutions. Read more… Source: Bleeping Computer