After years of losses, African e-commerce giant Jumia claimed significant progress towards profitability in its Q4 2020. Backing that claim, Jumia reported record gross profit and some improvements to its cost structure. The company wrote in its earnings release that while “2020 has been a challenging year operationally with COVID-19 related
Tag: Payment
Payment processor used by government hit by ‘Cuba’ ransomware gang
California DMV said no systems were compromised in an attack by the Cuba ransomware gang. (CA Dept of Insurance/CC BY-NC-ND 2.0) The Cuba ransomware gang launched assaults in February on a payment processor widely used by many state and municipal agencies across the United States to manage utility bills and driver’s
In second attack DDoS group demands 5 bitcoin payment
Five Radware customers received extortion letters in December and January threatening a DDoS attack if they did not pay five bitcoin (worth about $200,000) from a group that wanted the victims to believe they were from Fancy Bear, Lazarus Group and the Armada Collective. The threat group first attacked late last
What Microsoft should demand in exchange for its “payment” to the U.S. government for TikTok
African payment startup Chipper Cash raises $13.8M Series A
African cross-border fintech startup Chipper Cash has closed a $13.8 million Series A funding round led by Deciens Capital and plans to hire 30 new staff globally. The raise caps an event filled run for the San Francisco based payments company, founded two years ago by Ugandan Ham Serunjogi and Ghanaian Maijid
P2P payment apps, users urged to curb COVID-19 advance fee fraud
Fraudsters posing as celebrities, philanthropists and do-gooders offering financial aid to everyday people struggling due to the COVID-19 epidemic are running scams on users of peer-to-peer payment applications such as Cash App and Venmo, but financial service providers and consumers can reduce the risk of becoming victims by implementing a
Average ransom payment up 33 percent in Q1, Sodinokibi and Ryuk top variants
The ever industrious and forward-looking groups behind the majority of ransomware attacks essentially reinvented the business during the first quarter of 2020 developing new tools and methods that helped boost their success rate. The advent of the COVID-19 pandemic certainly helped these cybercriminals by giving them additional avenues to pursue but
Attackers sink their meathooks into Landry’s restaurants’ payment card data
The Houston-based steakhouse, restaurant and hospitality company Landry’s, Inc. has advised customers of a point-of-sale malware attack that stole payment card data from an order-entry system used to process kitchen and bar orders. According to a company breach notification, Landry’s food and beverage locations typically use point-of-sale terminals featuring end-to-end encryption
PayPal scam goes after account info, payment card data
PayPal customers are being hit with a phishing scam designed to steal their login credentials and other PII through a series of well-crafted emails and fraudulent websites. An incident begins with an email stating that there has been some unusual activity on the person’s PayPal account that requires immediate attention in
Hackensack Meridian Health pays undisclosed ransom payment
Hackensack Meridian Health was forced to pay cyberattackers a ransom in order to regain access to its network. The payoff became public on December 13 and was in response to a ransomware attack that struck the New Jersey-based hospital on December 2. Published reports noted the healthcare provider did not release the amount paid. The