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IT World Canada: FinTech revolves around technologies such as cloud, blockchain, AI, and mobile devices that are used for financial transaction payments, cryptocurrencies, money transfers, trading, and regulatory compliance.
Help Net Security: Data from a survey of 1,200 enterprise security leaders reveals that an increase in tools and manual reporting combined with control failures are contributing to the success of threats such as ransomware, which costs organizations an average of $1.85 million in recovery, according to Panaseer.
The Unites States Department of Justice: A Russian man was sentenced today for providing “bulletproof hosting” services, which were used by cybercriminals between 2009 to 2015 to distribute malware and attack financial institutions and victims throughout the United States.
KnowBe4: You already knew remote workers increase the risk of cyberattack. New data spells out exactly what the impact of a remote workforce is on data breaches and the cost to remediate.
Financial Post: Clearlake Capital Group said it would buy Quest Software from Francisco Partners, as the investment firm seeks to tap into the pandemic-spurred surge in demand for enterprise software and cybersecurity tools.
The Jerusalem Post: Forty percent of all private financial input into cyber technology and companies is invested in Israel, a new book co-written by founder of the Israel’s National Cyber Directorate has revealed.
The target: GoDaddy, a U.S based website domain registrar and web hosting company.
The take: 1.2 million records of customer information including: email addresses, SSH keys, and database usernames and passwords.
The attack vector: The threat actor gained access to GoDaddy’s hosting servers through a compromised employee account, granting them the same access to all the systems the firm’s user had. Multi-factor authentication was not enabled.
This breach highlights not only the ever-present threat that compromised employee accounts pose to firms, but also the critical importance of proper credential management. Employing Multi-factor authentication is a key part of maintaining a robust cybersecurity posture and ensuring company and customer data Is only accessed by authorized parties.
New York Post: Two federal agencies warned Americans to “remain vigilant” about their online security during the long Thanksgiving weekend after a year full of high-profile hacks.
Tech Radar: Polling 3,600 business and technology executives from around the world for the report, PwC found multiple factors contributing to the rising threat of cybercrime, including lower barrier for entry for numerous types of malware attacks, rising complexity of organizations due to mergers and acquisitions, remote working, or multi-vendor environments, to name but a few.
The Moscow Times: Top cybersecurity entrepreneur Ilya Sachkov, who was arrested under charges of “state treason” in late September, has claimed he is innocent and asked Russian President Vladimir Putin to transfer him from jail to house arrest during the investigation.
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