Digital transformation has taken hold as organizations adopt digital technologies that improve business processes. The payments industry has followed the adoption of these new formats. Digital payments have boomed in the last year due to their flexibility and reliability in ensuring a more seamless payment process for businesses.
With the influx of digital payments, naturally cyberattacks follow suit, with hackers targeting vulnerable victims across several industries. These attacks come in all shapes and sizes and can result in major losses. The International Journal of Engineering & Advanced Technology found that salami, phishing, ransomware and cryptojacking attacks were among the four most common for financial gain. Let’s focus on salami attacks.