The big payments processor Total System Services (TSYS) has recently appeared under a ranswomware attack. Cybercriminals are looking for vulnerabilities in the payments industry and want to apply new tactics to get access to ransom payments by targeting their victims. Let’s see how a reputable merchant services provider like eMerchantBroker can help you protect your business and read more details concerning the case.
TSYS Under a Ransomware Attack & eMerchantBroker
Columbus, Ga.-based TSYS is the 3rd largest 3rd party payment processor for financial institutions in the U.S. Merchants use the services offered by the company to process payments. These services and other solutions include prepaid debit/ payroll cards. In 2019, Global Payments Inc. acquired the company.
Recently, the company was attacked by cybercriminals. They posted the data obtained as a result of the attack and promised to publish additional data later. This is an example of the growing threat against payment companies.
So, it’s getting more critical than ever to use secure merchant services to protect your eCommerce business to the best possible extent. Processors like eMerchantBroker offer the latest and the safest merchant services that can help you stay away from fraud and reduce chargebacks. The rates are among the cheapest. The application is among the quickest and the most hassle free.
Ransomware Attacks Increasing
The COVID-19 era showed a vivid rise in cyberattacks. Fraudsters started taking advantage of the panic people and businesses are in. In addition, the unprecedented move to the online space created a “striking” opportunity for fraudsters to target consumers and businesses worldwide.
According to the U.S Department of the Treasury report in October, ransomware attacks were on the rise. Scammers were targeting vulnerable sectors such as healthcare more often. This is especially true of smaller companies since they use weaker cybersecurity protection systems.
The Financial Services Information Sharing and Analysis Center (FS-ISAC), an industry consortium fighting cyber threats, has recently released a report concerning cybercrime. So, based on the report, the banking industry is still the main target of ransomware groups.
To conclude, the payment card company Total System Services (TSYS) has recently been victimized by cyberattackers using ransomware Conti. The criminals say the attack targeted TSYS’s Cayan business unit. Use the most secure and reliable fraud prevention solutions to protect your company from the growing threat of cyberattacks.
Author Bio:- Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.