Intelligent CISO Issue 55 - Page 9

Payment Fraud Intelligence expands the Recorded Future Intelligence Cloud
R announced the expansion of its Intelligence Cloud with Payment Fraud Intelligence , a single source of truth for identifying , mitigating and preventing payment fraud .
Retail industry the second most targeted industry by ransomware in 2021
S cybersecurity , has published a new sectoral survey report , The State of Ransomware in Retail 2022 , which found that retail had the second highest rate of ransomware attacks last year of all sectors surveyed after the media , leisure and entertainment industry .
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Payment Fraud Intelligence expands the Recorded Future Intelligence Cloud

ecorded Future , the intelligence company , has

R announced the expansion of its Intelligence Cloud with Payment Fraud Intelligence , a single source of truth for identifying , mitigating and preventing payment fraud .

Payment Fraud Intelligence enables those focused on payment fraud , including financial institutions , card issuers and e-commerce providers to disrupt the entire payment fraud life cycle by helping to detect e-skimmer infrastructure and compromised cards associated with malicious activity .
Payment fraud is a multi-billion dollar industry impacting merchants , cardholders and financial institutions and will result in over US $ 400 billion in losses globally over the next decade . Historically , the industry has taken a reactive approach , waiting until fraudulent purchases take place , then attempting to limit losses , resulting in further reputational damages and financial losses . e-skimmers and mapping thousands of the tester merchants used to validate cards before they ’ re used fraudulently .
Recorded Future ’ s Payment Fraud Intelligence enables payment fraud teams to proactively :
• Pinpoint compromised Common Points of Purchase ( CPPs )
• Enhance risk-exposure models and lower fraud potential
• Improve average fraud rate metrics across an entire card portfolio
• Detect attacker infrastructure being used to skim payment card data
Recorded Future has unparalleled visibility into the complete payment fraud infrastructure , enabling clients to disrupt criminal activity by proactively detecting payment data being sold on the Dark Web , finding e-commerce sites infected with

Retail industry the second most targeted industry by ransomware in 2021

ophos , a global leader in next-generation

S cybersecurity , has published a new sectoral survey report , The State of Ransomware in Retail 2022 , which found that retail had the second highest rate of ransomware attacks last year of all sectors surveyed after the media , leisure and entertainment industry .

Globally , 77 % of retail organisations surveyed were hit – a 75 % increase from 2020 . This is also 11 % more than the crosssector average attack rate of 66 %.
Chester Wisniewski , Principal Research Scientist , Sophos , said : “ Retailers continue to suffer one of the highest rates of ransomware attacks of any industry . With more than three in four suffering an attack in 2021 , it certainly brings a ransomware incident into the category of when , not if .
“ In Sophos ’ experience , the organisations that are successfully defending against these attacks are not just using layered defences , they are augmenting security with humans trained to monitor for breaches and actively hunting down threats that bypass the perimeter before they can detonate into even bigger problems .
“ This year ’ s survey shows that only 28 % of retail organisations targeted were able to stop their data from being encrypted , suggesting that a large portion of the industry needs to improve their security posture with the right tools and appropriately trained security experts to help manage their efforts .”
As the percentage of retail organisations attacked by ransomware increased , so did the average ransom payment . In 2021 , the average ransom payment was US $ 226,044 , a 53 % increase when compared to 2020 ( US $ 147,811 ). www . intelligentciso . com
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