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Industry News: ESG5

The Great Equifax Mystery: 17 Months Later, The Stolen Data Has Never Been Found, and Experts are Starting to Suspect a Spy Scheme

2019-02-13

CNBC: It was the consumer data security scandal of the decade. The information included Social Security numbers, driver's license numbers, information from credit disputes and other personal details. CEO Richard Smith stepped down under fire. Lawmakers changed credit freeze laws and instilled new regulatory oversight of credit ratings agencies. Then, something unusual happened. The data disappeared completely...

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Ex-US Intel Officer Charged with Helping Iran Target her Former Colleagues

2019-02-13

DarkReading: A former US Air Force intelligence specialist and counterintelligence agent with the Defense Department has been indicted for conspiring to provide national defense information to four Iranian nationals acting on behalf of the Iranian Revolutionary Guard Corps (IRGC)......

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Cost of a Cyber Security Breach Reaches a Record High as Canadian Businesses Spend up to $5.8 Million to Recover

2019-02-07

FinancialPostCyber security incidents have become the new normal for Canadian companies, with one hundred per cent of organizations experiencing attacks, according to the findings of a new study from Scalar Decisions Inc. of more than 400 Canadian IT and security workers. Released today, the 2019 Scalar Security Study (commissioned by Scalar and conducted independently by IDC Canada) showed that cyber security incidents are occurring on a regular basis and the cost of these compromises is at an all-time high. The average cost per organization of responding to, and recovering from, cyber security incidents increased to between $4.8 million to $5.8 million, up from $3.7 million last year...

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Federal MPs' computer network hacked in possible foreign government attack

2019-02-08

SMH: National security agencies are continuing to scour the Parliament's computer network for threats to MPs' data after what is being described as a "sophisticated" hack attack that could be the work of a foreign government. The hacking comes just three months ahead of the federal election, prompting fears that if MPs emails or data were stolen they could be used to cause political interference of the style Russia perpetrated against the United States in the 2016 presidential campaign...

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Cyber-warfare Could be Entering a New and Alarming Phase, ex-CIA Analyst tells MPs

2019-02-06

CBC: Online attacks on Canada's financial system could become far more destructive as more militaries around the globe get involved in cyber operations, a security expert and former CIA analyst told a House of Commons committee Wednesday. Christopher Porter, the chief intelligence strategist for the cyber security company Fireeye, Inc., testified that as NATO countries share their expertise on how to defend against and defeat online threats, "major cyber powers outside the alliance" will likely do the same...

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Cyber-Security in New York City, the Financial Capital of the United States

2019-02-05

CyberDefenseMagazineNew York’s position as a financial capital makes the city especially vulnerable to cyber attacks. Although Manhattan is an established gateway for financial services and business in general, it’s still developing as a cyber hub. As hackers’ tools become increasingly sophisticated, it’s no secret that there’s room for improvement in cybersecurity in NYC. To address this urgent need, the New York City Economic Development Corporation (NYCEDC) unveiled Cyber NYC, a huge initiative to transform NYC into a global leader in cybersecurity innovation and talent through collaborations with world-renowned partners in tech, academia, and finance...

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Hackers Targeting Canadian Banks, Mining Companies, Expert Tells MPs

2019-02-07

NationalPost: Foreign hackers have targeted Canadian banks, mining companies and government institutions in recent years to steal valuable secrets and spread malware, a leading cybersecurity analyst warns. In February 2017, multiple major Canadian financial institutions were exposed to the risk of state-sponsored cybertheft from North Korea in a scheme to redirect people to malicious downloads that would seize control of their computer, says Christopher Porter, chief intelligence strategist at California-based security firm FireEye...

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UAE Used Cyber Super-Weapon To Spy On Iphones Of Foe

2019-01-31

A team of former US government intelligence operatives working for the United Arab Emirates hacked into the iPhones of activists, diplomats and rival foreign leaders with the help of a sophisticated spying tool called Karma, in a campaign that shows how potent cyber-weapons are proliferating beyond the world’s superpowers and into the hands of smaller nations...

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Why Cyber-Security Should Be Top Priority For Banks That Want to Rehabilitate Their Reputations

2019-01-23

CSOAre cyber-attacks an inevitability in the financial services industry, given the wealth of personal data – and funds – entrusted to the keeping of banks, insurers and other players in the sector? Management consultancy PwC thinks so. Its Top Financial Services Issues of 2018 Report divided financial services organisations into two categories – those that have faced a cyber-attack and those that will... 

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Venture Capital Funding of Cybersecurity Firms Hit Record High in 2018

2019-01-17 

Reuters: Venture capital investments in cybersecurity firms hit a record high last year amid a surge in cyber crime over the last few years, according to a report released on Thursday by U.S.-based Strategic Cyber Ventures. Total venture capital funding in the space totaled $5.3 billion in 2018, up 20 percent from $4.4 billion seen in 2017...

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