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09/23/2021

https://www.bluemountaineagle.com/news/state/vesta-report-card-not-present-fraud-is-becoming-increasingly-sophisticated-creating-new-threats-for-merchants/article_46ccaafc-19e4-51bc-82d2-91da0b0ac531.

Tech Crunch

The global pandemic, along with the digital transformation it accelerated, broadened corporate attack surfaces exponentially. As a result, there were almost 1,800 publicly reported data breaches in the first six months of 2021 alone, accounting for the exposure of 18.8 billion records. Among these were devastating, large-scale breaches of consumer names, contact details and financial records, such as the ongoing Accellion compromise that has impacted over 100 companies, organizations and government agencies, and the recent T-Mobile breach that exposed the details of 47 million customers.

Tide Foundation, a Sydney-based, five-person startup competing in TechCrunch Disrupt Startup Battlefield this week, claims that its “first-of-its-kind” encryption protocol could make this so-called “cyber breach pandemic” — a tagline the nonprofit was using before the global crisis struck — a thing of the past.

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