With Latin America facing an unprecedented increase in claims for unrecognized credit and debit card transactions, banks and card issuers are directly feeling the impact of fraud and cyber-attacks that are growing more sophisticated by the day. Recent regulations have been implemented across Latin America to address a variety of payment fraud, including an unprecedented surge in claims of unrecognized transactions involving debit, credit and financing products.

You wouldn’t drive a car that hasn’t been serviced in a decade. So why are you still trusting a legacy SIEM solution? The world of cybersecurity is in a constant state of flux, and your security information and event management (SIEM) needs to keep up. If you’re not regularly reassessing it, you might as well roll out the red carpet for hackers. Let’s discuss when and why you should seriously consider giving your SIEM a much-needed check-up.

Implementing a security incident and event management (SIEM) system can be complex and often requires considerable expertise. Teams need to configure a variety of data sources and ensure their SIEM can scale with growing data volumes. In addition, users need time to learn the system, which can delay value realization. And SIEMs also need continuous maintenance to ensure threat intelligence, detection rules, and integrations are up to date.

Crystal Rans0m is a previously undocumented hybrid ransomware family developed in Rust programming language seen for the first time in the wild on September 2nd, 2023. Interestingly, it does not only encrypt victim’s files, demanding a ransom for their release, but also steals sensitive information from the infected systems. This dual-threat approach means that attackers can double their leverage over victims, potentially increasing their chances of monetizing their attacks.

Over the past year, BlueVoyant’s cyber threat analysts have identified a significant rise in third-party phishing tactics, most notably with a campaign impersonating the Zelle digital payment service. By mimicking a well-known payment site like Zelle, threat actors can evade detection more effectively while collecting credentials and personally identifiable information (PII) from online users of hundreds of financial institutions.