Tagged: online security

Fintech Service Providers Must Enhance Online Security, as Digital Payments are on the Rise in India, Finance Ministry Official Says

Consumers in India are conducting more transactions online. Digital payments are on the rise which means that merchants must ensure that their websites are secure so that their customers can make secure payments. Financial service providers should work with Fintech solution developers to create resilient… Read More

Hackers are Using Malicious, Automated Scripts to Attack Computer Systems Every 39 Seconds, Digital Asset Security Firm NGRAVE Reveals

NGRAVE, a digital asset security company that claims it has developed the world’s most secure cryptocurrency hardware wallet, reveals that hackers regularly use automated scripts (malicious computer code) that allow them to attack computer systems every 39 seconds (on average 2,244 times per day). The… Read More

Evilnum Hackers are Now Using Malicious Malware Scripts Written in Python to Target Fintech Service Providers

A hacking group has reportedly introduced new trojan malware that aims to target Fintech service providers. The malicious scripts have been created to gain access to people’s email accounts, steal their passwords and business-related information. The malware scripts have been added to code that has… Read More

Tokopedia Introduces P2P Lending Platform, As Indonesian Government Investigates How Millions of Company’s Customer Data Records were Compromised

Indonesia based Tokopedia, an e-commerce marketplace that had announced a $1.5 billion funding round from Softbank, Alibaba, Temasek back in January 2020, has introduced Dhanapala, a standalone or independent peer to peer (P2P) Fintech lending platform. The Dhanapala app is currently available for download to… Read More

AI and Machine Learning Algorithms are Increasingly being Used to Identify Fraudulent Transactions, Cybersecurity Professional Explains

The retail banking sector has been hit with numerous scams during the past few years. Cybercriminals are now also beginning to increasingly go after much larger corporate accounts by launching sophisticated malware and phishing attacks, according to Beate Zwijnenberg, chief information security officer at ING… Read More

Major South Korean Daegu Bank and SK Telecom, the Nation’s Largest Wireless Carrier, are Working on 5G enabled Quantum Cryptography Tech

South Korea-based DGB Daegu Bank, which is part of the DGB Financial Group (DGBFG), a banking holding company based in Daegu, has partnered with SK Telecom, a South Korean wireless telecommunications operator. Through the partnership, both organizations aim to enhance Daegu Bank’s IM Bank app’s… Read More

European Central Bank Warns Against Potential Threat of Dominance of Big Tech in Financial and Cloud Services

The European Central Bank (ECB), the reserve bank of the Eurozone, which is a monetary union of 19 EU member states which employ the Euro, has noted that there doesn’t seem to be an EU challenger that’s capable of matching the capabilities of Big Tech… Read More

Banks, Government Offices Targeted by Malicious P2P Botnet which Mines Monero (XMR) by Hogging Computing Resources of Targeted Computers

Guardicore, a company that aims to protect any digital environment by offering simplified cloud and data center security solutions, reveals that it has found a peer to peer (P2P) botnet, called FritzFrog, that has been regularly breaching SSH services since January of this year. SSH… Read More

Cyberattacks in the UK, US Increase as More Consumers and Businesses Conduct Financial Transactions Online

Cyberattacks against US-based financial industry firms increased by around 240% between February and April 2020, according to a new report. These attacks have become more prevalent after the global COVID-19 outbreak, as more individuals and businesses are using online services. Tom Kellerman, head of cybersecurity… Read More

Monetary Authority of Singapore Commits $182 Million to Support Innovation and Develop Fintech Projects

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, recently revealed that it will commit S$250 million (appr. $182 million) in capital over the course of the next three years, in order to support the country’s financial industry. The funds are being… Read More

Private Keys Associated with Valuable Digital Assets May Not be Completely Safe or Hack Proof, Cryptographers Explain

Researchers that attended the recent Black Hat security conference confirmed that digital currency exchanges remain vulnerable to hackers. While digital asset trading platforms may have attempted to provide adequate security to protect users’ funds, researchers argue that cryptocurrency exchange attacks have been operating like “an… Read More

World Economic Forum Recommends Adopting Clear and Actionable Cybersecurity Guidelines for Fintech Firms

The World Economic Forum (WEF) Fintech Cybersecurity Consortium was established in 2018. It aims to help protect the global financial ecosystem, which now includes large organizations with “high levels of cybersecurity maturity” and fast-growing Fintech firms that are offering emerging technologies such as AI, Big… Read More

US Secret Service Establishes Cyber Fraud Task Force to Combat Financial Crimes Conducted via the Internet

The US Secret Service, a federal law enforcement agency operating under the Department of Homeland Security and responsible for conducting criminal investigations and protecting the country’s leaders and their family members, has established the Cyber Fraud Task Force (CFTF). The CFTF has been formed after… Read More

Fintech Firms in the UK, Europe, Australia, Canada being Targeted through Malware by Evilnum, an Online Threat Group: Report

Evilnum, an advanced and persistent threat group, has been targeting UK-based Fintech companies and others throughout Europe since 2018. Evilnum uses “spear-phishing” emails and various social engineering tactics to initiate their cyberattacks, according to ESET, an online security company. The researchers at ESET noted that… Read More

75% of IT Professionals Say Major Changes were Made to Fintech Firms’ Cybersecurity Programs when Working Remotely Due to COVID-19: Survey

  Financial service providers have been forced to make major changes to their cybersecurity programs and protocols in order to manage the transition to remote working, a practice many Fintech firms have adopted, following the global COVID-19 outbreak. The US-headquartered Financial Services Information Sharing and… Read More

OurCrowd backed Biometrics Firm BioCatch Secures $145 Million via Series C Round led by Bain Capital

Israel-based BioCatch, a behavioral biometrics firm, has secured $145 million in capital through a Series C investment round, which was led by Bain Capital Tech Opportunities. BioCatch is an OurCrowd portfolio company and the crowdfunding platform took part in this most recent round. Existing investors… Read More

KPMG’s Israel Division and Cybersecurity Protection Firm nsKnox Introduce Solution for Prevent Fraudulent Payments

nsKnox, an established provider of cybersecurity protection for business payment technology, revealed on November 21 that it has teamed up with Big Four auditing firm KPMG. According to a release, KPMG’s Israel division will serve as the global distributor and service provider of, KPMG Secure… Read More

Cybersecurity Skills Platform Immersive Labs Raises $40 Million via Series B Round Led By Summit Partners, Goldman Sachs

Immersive Labs, a UK-founded cybersecurity skills platform, raised $40 million through a Series B investment round led by Summit Partners, a growth equity investor. New York-based investment bank Goldman Sachs also took part in Immersive’s latest funding round. Established in 2017, the company noted that… Read More

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