Due to a zero-day flaw in legacy software provided by Accellion, the Reserve Bank of New Zealand became the victim of a data breach. The breached exposed files including – personal email addresses, dates of birth, and credit information. Other organizations including the Australian Securities and Investments Commission (ASIC), the Office of the Washington State Auditor, and more were also targeted due to the same set of flaws.
The Implications –
Irrespective of the preparedness of an organization against cyberattacks, the breach displays that threat actors will always try to reign supreme by exploiting the weak spots. Moreover, a data breach is just the start of an organization’s privacy concerns.
Additionally –
- Ecuador’s Ministry of Finance was hacked by The Hotarus Corp hacking group, along with the bank Banco Pinacha, which is the country’s largest bank. The group claims to have stolen internal data.
- Pakistan has seen an increase in online banking and shopping fraud by 63% due to the rise in online activities since the pandemic struck the world.
- The database of Ukraine’s PrivatBank was offered on sale by an unknown attacker on a hacking forum. It is the largest commercial bank in Ukraine and the database contains 40 million entries. However, the bank has denied the data being theirs.
The entire financial sector across the world has been suffering from cyber threats. More than 100 financial institutions fell victim to cyberattacks, and the total number of victims kept rising. More than 70% of the firms in the financial sector have face cyber-attacks with the pandemic making things worst for them. Consequently, our internal experts suggest the sector needs to be careful about its cybersecurity posture and take measures to enhance the security of money and data.
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