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Travel Management Firm CWT Pays $4.5M In Bitcoin To Hackers

PYMNTS

Corporate travel manager CWT paid $4.5 The news service said it learned details of the negotiations between Minnetonka, Minnesota-based CWT and the unidentified hackers because the talks played out in a publicly viewable chat room. According to computer security firm McAfee, criminals have been using RagnarLocker since late 2019.

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Does your bank need cyber insurance?

Independent Banker

Cyber insurance not only provides financial reimbursement for losses; it also equips the insured with access to a list of preapproved incident response experts that are required to help the bank manage a cyber event. The banking industry could face greater regulatory scrutiny and pressure ahead on how they’re managing cyber risks.

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Federal Cybersecurity Professionals Play Catch-Up Weeks After Gov’t Shutdown

PYMNTS

Wired pointed to a report in the spring by the Office of Management and Budget which concluded that 74 percent of federal agencies need an upgrade of their digital defenses urgently. The report noted that there are concerns that the real impact from the shutdown will take time to play out.

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FBI Probing Hack Of US Electricity Providers

PYMNTS

Ted Cash, general manager of ALP Utilities in Minnesota, revealed that his employees “found a quarantined email in a restricted account” after being contacted by the FBI. “We never got compromised, and never saw the phishing emails,” he said. The email was then downloaded onto a disk and sent to the FBI for analysis.

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The 2023 GonzoBanker Awards

Gonzobanker

Meanwhile, technology changes continued at a breakneck pace, with generative AI the biggest topic around management tables. Merger of Equals Deal of the Year (Credit Union) – Spire Credit Union and Hiway Credit Union put 2+2 together to make a $4 billion institution in the Minnesota market. and Summit Financial Group, Inc.

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Can AI Turn Banks Into FinTech Firms?

PYMNTS

What they are getting is that consumers want, and increasingly demand, a suite of services on the front end that make the financial management of their lives easier and more seamless. Consumers aren’t looking for one-off solutions for individual financial services; they are looking for an end-to-end journey that is both simple and secure.

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Fintech Fundings: 36 Companies Raise $480 Million Week Ending March 18

Fintech Labs Insights

Emailage raised an undisclosed sum for its fraud prevention technology keyed off email address. Lien rights management. Digital rights management platform on the blockchain. HQ: Minneapolis, Minnesota. Cachet Financial Solutions raised $500,000 for its remote deposit platform. Alt-lender to students. Source: Crunchbase.

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