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Industry News: ESG5

Apple Confirms $1 Million Reward For Anyone Who Can Hack An iPhone

2019-08-08

Forbes: Apple has massively increased the amount it’s offering hackers for finding vulnerabilities in iPhones and Macs, up to $1 million. It’s by far the highest bug bounty on offer from any major tech company.

That’s up from $200,000, and in the fall the program will be open to all researchers. Previously only those on the company’s invite-only bug bounty program were eligible to receive rewards.

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Would You Trust a Criminal with Your Cyber Security?

2019-08-02

Computer Weekly: The UK cyber security services market is one of the most mature in the world. It has benefited from the development of a higher education system that generates significant numbers of cyber security professionals, a mature training market that allows people to cross-train, and well-structured career pathways to promote professional practices, underpinned by codes of conduct and ethics that are both meaningful and enforceable.

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BlackRock, Pamplona Talks Over Cybersecurity Firm Cofense Break Down

2019-07-31

The Wall Street Journal: BlackRock Inc. is no longer in talks with Pamplona Capital Management to take over the private-equity firm’s stake in cybersecurity company Cofense Inc.

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Capital One Breach Shows a Bank Hacker Needs Just One Gap to Wreak Havoc

2019-07-30

The New York Times: A single weak spot is all savvy hackers need. And they often find them. Already this year, there have been 3,494 successful cyberattacks against financial institutions, according to reports filed with the Treasury Department’s Financial Crimes Enforcement Network.

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This Year, Phishing Causes Losses of $17,700 per minute And Ransomware Attacks Will Cost $22,184 Per Minute

2019-07-25

KnowBe4: Global losses to cybercrime total $1.5 trillion per year, which amounts to $2.9 million per minute, a new report by RiskIQ shows. Some of the largest companies are losing $25 each minute due to security breaches. Phishing campaigns accounts for losses of $17,700 per minute and ransomware attacks are expected to cost the world $22,184 per minute this year. 

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NSA Creates New Cybersecurity Arm to Combat Foreign Threats

2019-07-23

CNN: The National Security Agency announced Tuesday it is creating a new Cybersecurity Directorate, which will "unify NSA's foreign intelligence and cyberdefense missions and is charged with preventing and eradicating threats to National Security Systems and the Defense Industrial Base."

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IT Failures Reported by Financial Firms Up 300%

2019-07-18

Financial Times Adviser: Speaking at the FCA’s annual public meeting, July 17, Megan Butler said the number of incidents reported to the regulator had increased to 916 for the year 2018-19 from 229 the year before.

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Advisor Group Introduces CyberGuard Program To Protect Advisors And Clients From Ever-Increasing Threat Of Cyber Attacks

2019-07-18

Cision: Advisor Group, one of the nation's largest networks of independent wealth management firms, comprising FSC Securities Corporation, Royal Alliance Associates, SagePoint Financial and Woodbury Financial, announced the introduction of the CyberGuard Program, an evolving toolkit of cybersecurity services and support platforms aimed at empowering its 7,000 advisors across the country to protect themselves and their clients from the ever-increasing threat of cyber-attacks. 

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Facebook 'To Be Fined $5bn Over Cambridge Analytica Scandal'

2019-07-13

BBC: The Federal Trade Commission (FTC) has been investigating allegations that political consultancy Cambridge Analytica improperly obtained the data of up to 87 million Facebook users.

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Cyber Attacks Cost The World $45 bn in 2018; Ransomware Hit Govts Hard

2019-07-09

Business Standard: An estimated two million in 2018 resulted in more than $45 billion in losses worldwide as local governments struggled to cope with  and other malicious incidents, a study showed.

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