Security & Fraud

Security & Fraud
Colonial Pipeline Pays Nearly $5 Million In Ransom After Cyberattack
May 13, 2021

The Colonial Pipeline, under siege by hackers, has paid nearly $5 million in a ransom deal, CNBC reported. The pipeline was hacked, which caused it to have to shut down about 5,500 miles of pipeline. That, in turn, caused gas shortages across the Southeast. A...

Security & Fraud
Data Security’s Secret Sauce? ‘Zero Data’
May 12, 2021

To protect what you’ve got — lock it away, build a wall, maybe a moat. Maybe hide the valuables. And pray. It all gets a lot harder in the digital age. Transferring money, or data, or sensitive personal information (okay, pretty much anything) across the...

Security & Fraud
Glovo Suffers Data Hack Of Users’ Private Information
May 11, 2021

A group of hackers accessed private data for Glovo, a Spanish delivery app, Bloomberg reported. The hacking encompassed private login information for tens of millions of Glovo customers, drivers and employees, the report stated. The data breach was discovered by the cybersecurity firm Yarix, according...

Security & Fraud
US Questions Whether Businesses Should Pay Cyberattack Ransom
May 10, 2021

In the wake of a situation last weekend in which a group of hackers shut down a U.S. oil pipeline, the White House is thinking about whether there’s merit to making ransom payments to cyberattackers, the Financial Times (FT) reported. The oil pipeline situation highlighted...

Security & Fraud
FBI Identifies Suspects In Colonial Pipeline Hack
May 10, 2021

The FBI said it has identified the hackers who shut down the East Coast’s main gas and diesel pipeline last week as a group from Eastern Europe. DarkSide, a relatively new group of hackers, created the malicious computer code that led to the shutdown of...

Security & Fraud
Microsoft, Darktrace Partner For Cloud Cybersecurity
May 10, 2021

With concerns over such data as personal information and intellectual property on the rise, Microsoft is linking up with cybersecurity company Darktrace to offer an artificial intelligence (AI) defense across the cloud. The companies said in a press release that their combined security system provides...

Security & Fraud
The Rise Of Ransomware As A Service
May 10, 2021

After years of forecasts of such an event, cybercriminals finally grabbed a vital piece of in infrastructure that they are refusing to unhand until someone pays them. The cybercrime gang known as DarkSide has reportedly shut down a vital U.S. pipeline, now in its fourth day...

Security & Fraud
Mastercard Says AI Key In Managing IoT Data Deluge — And Thwarting Cyberfraud
May 10, 2021

Data, data everywhere – accumulating exponentially, as we have gone increasingly digital. A fact to file away under “mind-boggling stats:” We as humans create 2.5 quintillion bytes of data every day. A  quintillion is a million trillion. That’s a lot of web pages, texts, posts,...

Security & Fraud
Colonial Pipeline Latest Target In High-Profile Ransomware Attacks
May 09, 2021

The Biden administration is looking to crack down on ransomware, especially as a series of major cyberattacks has recently occurred, Bloomberg reported. In the span of a few days, attacks were leveled at the police station in Washington, D.C., with hackers threatening to release information...