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:
- Meet Janeleiro: a new banking Trojan striking company, government targets
April 6, 2021
A banking Trojan striking corporate targets across Brazil has been unmasked by researchers. On Tuesday, ESET published an advisory on the malware, which has been in development since 2018. Dubbed Janeleiro, the Trojan appears to be focused on Brazil as a hunting ground and has been used in cyberattacks against corporate players in sectors including healthcare, engineering, ...
- Financial Cyberthreats in 2020
March 31, 2021
2020 was challenging for everyone: companies, regulators, individuals. Due to the limitations imposed by the epidemiological situation, particular categories of users and businesses were increasingly targeted by cybercriminals. While we were adjusting to remote work and the rest of the new conditions, so were scammers. As a result, 2020 was extremely eventful in terms of ...
- Fleeceware Apps Bank $400M in Revenue
March 25, 2021
About 204 different “fleeceware” applications with a combined billion+ downloads have raked in more than $400 million in revenue so far, via the Apple App Store and Google Play, analysis has revealed. Fleeceware apps generally offer users a free trial to “test” the app, before commencing automatic payments that can be exorbitant. In an analysis from ...
- European Banking Authority discloses Exchange server hack
March 8, 2021
The European Banking Authority (EBA) took down all email systems after their Microsoft Exchange Servers were hacked as part of the ongoing attacks targeting organizations worldwide. EBA is part of the European System of Financial Supervision and it oversees the integrity orderly functioning of the EU banking sector. “The Agency has swiftly launched a full investigation, in ...
- Maza Russian cybercriminal forum suffers data breach
March 4, 2021
The Maza cybercriminal forum has reportedly suffered a data breach leading to the leak of user information. On March 3, Flashpoint researchers detected the breach on Maza — once known as Mazafaka — which has been online since at least 2003. Maza is a closed and heavily-restricted forum for Russian-speaking threat actors. The community has been connected ...
- Ursnif Trojan has targeted over 100 Italian banks
March 3, 2021
The Ursnif Trojan has been traced back to attacks against at least 100 banks in Italy. According to Avast, the malware’s operators have a keen interest in Italian targets and attacks against these banking institutions have led to the loss of credentials and financial data. The cybersecurity firm said on Tuesday that at least 100 banks have ...