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CNBC: Scott Van Den Berg, president of Century Management Financial Advisors, has added cybersecurity to the firm’s insurance coverage.
Private Equity News: Private equity firms know the importance of cybersecurity. But their awareness has not translated into widespread implementation, leaving many vulnerable to data breaches that have the potential to slash the value of their investments.
Reuters: Britain’s opposition Labour Party was using a $20-a-month “basic security” service to protect its website when hackers attempted to force it offline and temporarily slowed down online campaigning, according to internal emails seen by Reuters.
ZDNet: Cyber espionage has been going on pretty much since the dawn of the web, with Russia, China, Iran and North Korea generally seen as the countries most likely to be engaging in cyber-espionage campaigns against Western targets.
Private Equity Wire: The partnership with Vista will allow Sonatype to further fast-track growth and enhance its Nexus product portfolio. Several of Sonatype’s existing investors will retain a stake in the company.
WSJ: How good a company is at cybersecurity is joining factors such as greenhouse-gas emissions and directors’ pay when it comes to investors evaluating whether or not to buy in.
The target: InfoTrax, a Utah-based provider of IT systems for the Direct Sales industry.
The take: 1 million user records including Social Security Numbers, payment card information, bank account information, user names and passwords.
The attack vector: A vulnerability in InfoTrax’s public facing website allowed the attacker to upload malicious code, which allowed remote control of the company’s website and servers. Inadequate security monitoring practices gave the attacker unrestricted, and undetected, access to 17 different systems over a period of two years. InfoTrax was only alerted when one of its servers ran out of storage space.
Robust monitoring standards are critical to detect not only intrusions, but any and all unusual activity that can indicate if IT systems have been compromised.
Tribune: Security experts have cautioned nations that major cyber-attacks may happen around the globe in the near future, which may force governments and private sector to seek international help in an effort to take back control of their systems from hackers.
DARKReading: In a global study of more than 2,200 organizations across 22 different countries, NTT Security's 2019 Risk:Value research found that cyberattacks (43%), data loss or theft (37%), and attacks on critical infrastructure (35%) — aimed particularly at telecoms and energy networks — concern respondents the most.
Reuters: Under the Standing Term Liquidity Facility (STLF), eligible provincially and federally regulated members of Payments Canada challenged by idiosyncratic shocks like natural disasters, system failures, and cyber attacks would be given access to central bank liquidity for a 30-day term, renewable at the Bank of Canada’s discretion.
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