News and Updates on Information Technology

India – Paytm

Exploit: Ransomware
Paytm: Payment Processing Service

Risk to Small Business: 2.291 = Severe

Cybersecurity researchers have confirmed that a hacker group using the name John Wick has claimed responsibility for a ransomware attack on the payment processing giant. The hackers are demanding 11 Etherium in cryptocurrency as payment, but the company denies that it has suffered a breach, although experts find the claim and evidence presented by the hackers credible.

Individual Risk: This hack appears to be related to merchant card batch processing and not individual credit card transaction data.

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business: Having a data breach at all is a huge problem that shouldn’t be compounded by denying an incident that credible experts believe occurred. 2020 is shaping up to be a banner year for data breaches, and joining that list is both unpleasant and expensive.