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ChyperNews: On May 8, Amazon announced that it had fallen victim to an "extensive" fraud involving unidentified hackers letting money from trading accounts onto the platform for a six-month period. The company believes that it was a victim of a serious cyber attack and that the attackers had compromised around 100 accounts. The motive? As is the case with most of these attacks, money. As Amazon explains, that is very likely the accounts were compromised using phishing techniques that misled the sellers to give away their login details. With this information, the hackers were able to change the bank details on the Seller Central platform, so that the money earned by the sellers ended up in the criminal's accounts, according to the legal documents presented in the UK...
ABC10: In the greater Sacramento region, 6,311 people lost a total of $29,595,487.70 to various cyber crimes in 2018, according to the Federal Bureau of Investigation's Internet Crime Complaint Center. Overall, the state of California has the most amount of victims to cyber crimes and the most amount of loss by these victims in the nation, according to the 2018 report on cyber crimes. In California, nearly 50,000 victims lost over $450 million to cyber crimes...
CTV: A proposed class-action lawsuit seeking $60 million in damages against Casino Rama following a cyber-attack has been denied. Lawyers for the plaintiffs argued as many as 200,000 people might have had their personal information stolen in the hack, including employees and patrons. In November 2016, the casino announced it had been the victim of a cyber-attack through which a large quantity of personal information was stolen from two of its servers...
CBS Baltimore: The FBI is investigating a ransomware attack on Baltimore City’s network, while city officials try to bring back the network to its full capacity. Although city services are no longer are being affected, hackers are still accessing the system, according to Mayor Jack Young. “These people are so sophisticated that their job is just to disrupt,” Young said. “I wish they would use it for more good than they are for just bad in trying to extort money from cities and companies. It’s just not right.”...
CNBC: A malware attack on Wolters Kluwer, a popular tax and accounting software platform, has left many in the accounting world unable to work this week and sparked concerns about the security of the tax return and financial information stored on the company's cloud servers. Wolters Kluwer provides software and services to all of the top 100 accounting firms in the U.S., 90% of top global banks and 93% of Fortune 500 companies, according to its web site. Many of its tax and accounting services...
Bloomberg: Amazon.com Inc. said it was hit by an "extensive" fraud, revealing that unidentified hackers were able to siphon funds from merchant accounts over six months last year. Amazon believes it was the victim of a "serious" online attack by hackers who broke into about 100 seller accounts and funneled cash from loans or sales into their own bank accounts, according to a U.K. legal document. The hack took place between May 2018 and October 2018, Amazon’s lawyers said in a redacted filing from November that can now be made public...
VentureBeat: Red Canary, a five-year-old Denver, Colorado-based company developing cloud-based security services, today announced that it’s secured $34 million in growth equity financing led by Summit Partners, with participation from existing investors Access Venture Partners and Noro-Moseley Partners. It follows on the heels of a $6.25 million venture series in May 2018 and brings the company’s total raised to $48.9, and will fuel the expansion of Red Canary’s services and team in the coming months, according to CEO and cofounder Brian Beyer...
Fortune: California Senator Kamala Harris warned that cyber attacks are becoming a “new form of war” Monday night during CNN’s town hall, ominously stating that it will be “a war without blood”—one for which the United States is not prepared...
TheWashingtonTimes: Financial losses caused by cybercrimes reported to the FBI nearly doubled in 2018 over the year before, according to a government report released Monday. The FBI’s Internet Crime Complaint Center (IC3) received 351,936 complaints in 2018 involving incidents that caused combined losses totaling $2.71 billion, the office said in its annual report. By comparison, the IC3 received 301,580 complaints in 2017 totaling $1.42 billion in losses...
Fortune: It’s no secret that private equity has been on a cybersecurity kick as of late—and for good reason. With online attacks and digital fraud only becoming more prevalent, global spending on technology to protect sensitive data and information is expected to reach an unprecedented $124 billion this year, according to research firm Gartner...
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