It has been exactly 46 days since the news of the NHS hack broke and now we are faced with another ransomware attack.Read more »
On Monday, the Trump Administrations met with leaders in the technology industry.Here is what we learned.
The American Technology Council, run by Jared Kushner, falls under The White House Office of American Innovation. The mission of this council is to"promote the secure, efficient, and economical use of information technology".Read more »
It should come as no surprise that the financial sector is the single most targeted industry when it comes to cyber attacks. Financial institutions face 300 % more cyber-attacks that any other sector. The threat has gotten so far out of hand that numerous government agencies fear these cyber criminals are the biggest threat to bank stability. According to SEC Chair Mary Jo White, cyber-attacks are such a grave concern that it overtakes terrorism in the Division of Intelligence’s list of global threats. There is one practice in particular that puts financial institutions at risk of a hack: Working Remote.
In the JP Morgan breach of 2014, 83 million customer records were compromised. That is 83 Million records stolen in just ONE breach. This incident is "the largest theft of customer data" and it all started with one employee working from home.Read more »
Small businesses often think that they’re relatively safe from cyber-attacks. Aren’t hackers, after all, only interested in big fish? Unfortunately, SMBs are just as vulnerable. If fact, according to the Verizon Data Breach Investigations Report, 71% of cyberattacks take place at businesses with less than 100 employees. It only takes a single data breach to irreparably bring down an entire business.Read more »
You’ve likely heard of history’s most notorious bank robbers — the likes of Butch Cassidy, John Dillinger, and Jesse James. But the loot they scored pales in comparison to the spoils of a modern-day cyber bank heist. Nowadays a cyberbank robbery can top a billion dollars.
Financial institutions experience 300% more attacks than any other industry. While financial firms are on the forefront of adopting advanced security solutions, the rewards to be gained by sophisticated hackers are too enticing. ThreatMetrix found a 40% increase in cyber criminal activity targeting the financial industry last year — with 21 million fraud attacks and 45 million bot attacks detected in the final quarter of 2015. 2016 has not shown a slowdown and we don’t expect 2017 to get any better — ransomware, DDoS, and advanced persistent attacks (APTs) are at an all-time high.
With the expansion of mobile banking, third-party technology, and cloud computing increasing the attack surface, financial institutions need a look at the next wave in developing a comprehensive cyber security infrastructure.
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