They have names like Notpetya, Samsam and perhaps the most cynically named WannaCry. These are just some of the most recent cyberattacks that have not only affected financial institutions, retailers and shipping companies but have also plagued manufacturers, like Merck & Company, the pharmaceutical firm, and the snack company Mondelez International. Whether they come from… Continue reading Manufacturers Remain Slow to Recognize Cybersecurity Risks
Tag: cyber liability
QBE Ventures and Zeguro Partner to Tackle Cyber Risk for SMEs
QBE Insurance Group’s (QBE) small and medium sized business customers could soon benefit from a virtual ‘Cybersecurity Officer’, thanks to a new partnership between the global insurer and emerging cybersecurity management leader, Zeguro. Zeguro is an easy to use, online platform which enables users to automate their cybersecurity processes, detect for and manage any cyber… Continue reading QBE Ventures and Zeguro Partner to Tackle Cyber Risk for SMEs
Senate Draft Bill Calls for Prison Time, Hefty Fines for Data Privacy Violations by Execs
A senior Democratic U.S. senator on Thursday unveiled draft legislation that would allow hefty fines and as much as 20-year prison terms for executives who violate privacy and cybersecurity standards. Senator Ron Wyden released a draft of legislation that would grant the Federal Trade Commission authority to write privacy regulations. The measure would also… Continue reading Senate Draft Bill Calls for Prison Time, Hefty Fines for Data Privacy Violations by Execs
SEC Uses “New” Cyber Enforcement Tool, Calls Out Board’s Role
The U.S. Securities & Exchange Commission has issued a stern warning to every financial firm and board of directors under its watchful eye: get your cybersecurity programs in shape or face the consequences. And it’s doubtful the SEC’s admonition is limited to the financial sector. In a cease and desist order against Voya Financial Advisors,… Continue reading SEC Uses “New” Cyber Enforcement Tool, Calls Out Board’s Role
Online Phishing Attacks Up 297% Over Last Year
It’s no question that online shopping has continued to grow over the past few years, making it easy to order anything you like from practically wherever you like. But what’s not so convenient is the slew of cybercriminals who have come along for the ride to steal your data and charge your credit card for… Continue reading Online Phishing Attacks Up 297% Over Last Year
AIR Worldwide Develops Advanced Probabilistic Model for Global Cyber Risks
Catastrophe risk modeling firm AIR Worldwide today announced it has developed a probabilistic model for cyber risk capable of accounting for security breach and cloud service provider downtime incidents for insurance portfolios worldwide. The new model will be included in the latest release of ARC (Analytics of Risk from Cyber), AIR’s cyber risk modeling and… Continue reading AIR Worldwide Develops Advanced Probabilistic Model for Global Cyber Risks
87% of Firms See Untrained Staff as Greatest Cyber Risk
The majority of executives (87%) around the world cite untrained staff as the greatest cyber risk to their business according to a new report from “The Cybersecurity Imperative” – a global thought leadership program produced by independent researcher, ESI ThoughtLab in conjunction with Willis Towers Watson and other organizations specialized in cybersecurity and risk management.… Continue reading 87% of Firms See Untrained Staff as Greatest Cyber Risk
Anthem Pays $16M in Record HIPAA Settlement for Data Breach
Anthem has agreed to pay $16 million to the Department of Health and Human Services, Office for Civil Rights to settle HIPAA violations after a series of cyberattacks led to the largest health data breach in this country. The 2015 breach exposed the protected health information of close to 79 million people by affecting electronic… Continue reading Anthem Pays $16M in Record HIPAA Settlement for Data Breach
Cryptocurrency Theft Hits Nearly $1B in First Nine Months
Theft of cryptocurrencies through hacking of exchanges and trading platforms soared to $927m in the first nine months of the year, up nearly 250% from 2017, according to a report from US-based cyber security firm CipherTrace released in New York on Wednesday. The report reflecting criminal activity and money laundering in the digital currency market… Continue reading Cryptocurrency Theft Hits Nearly $1B in First Nine Months
Senate Letter Criticizes Google for Failure to Disclose Data Vulnerability
Top lawmakers sent a stinging letter to Google on Thursday over its handling of a data vulnerability that affected hundreds of thousands of users of its Google+ social media service. Senate Commerce Committee Chairman John Thune (R., S.D.), in a letter delivered on Thursday, joined two subcommittee chairmen in saying they found it “troubling” that… Continue reading Senate Letter Criticizes Google for Failure to Disclose Data Vulnerability