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Business Wire: Companies globally could incur US$5.2 trillion in additional costs and lost revenue over the next five years due to cyberattacks, as dependency on complex internet-enabled business models outpaces the ability to introduce adequate safeguards that protect critical assets, according to a new report from Accenture.
BBC: The spoof page references a Bitcoin-themed documentary broadcast by Panorama last year, but links on the page direct visitors to a site promising to make them a millionaire. Reports indicate that the fake page is being spread via emails sent from hacked accounts. A spokesman for the BBC said it is looking into how best to respond.
Fortune: Security experts have discovered what very well could be one of the largest data breach of all time, a collection of 772,904,991 unique emails and 21,222,975 unique passwords. Called “Collection #1,” the breach was initially reported by Troy Hunt and seemingly comes from many different sources, not a single corporate entity. And it’s an especially dangerous one as he says it creates 1.16 billion “unique combinations of email addresses and passwords”...
PR Newswire: The cybersecurity market is expected to grow from USD 120 billion in 2017 to USD 300 billion by 2024, according to a 2019 Global Market Insights, Inc. report. The market is propelled by the increasing need among enterprises to minimize security risks. As enterprises are rapidly embracing cloud platforms and other networking technologies, they are becoming more vulnerable to various cyber-attacks. The average expenditure on cybercrime has increased significantly....
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...
Hedge Week: The program includes an initial maturity assessment, which is designed to cost-effectively assess a fund’s current posture related to information security and privacy. A report is delivered to fund management that highlights risk areas and gaps identified during the assessment, as well as recommendations for addressing and mitigating key risks through the use of technology, enhancements to policies and procedures, and training...
infosecurity-magazine: More than 80 US government websites are currently operating with expired SSL certificates, and that number will only grow the longer the situation drags on, resulting either in a completely inaccessible services (if security features are correctly implemented) or opening up the possibility of man-in-the-middle attacks as individuals attempt to access web-based service portals...
The target: The German Government.
The take: The personal data of hundreds of politicians in Germany were exposed. The hacked data includes contacts’ email addresses, private chats, mobile numbers, photographs and credit card details, which were all published on Twitter.
The attack vector: The prime suspect in the case indicated that he had acted alone, and it is believed he would not have been able to obtain the personal data had it not been for his target's use of weak passwords on their personal accounts.
FT: The EU is looking to toughen scrutiny of potential security risks with Chinese technology companies in the wake of growing concerns about cyber theft and cyber espionage allegedly linked to Beijing. Brussels wants to step up efforts to map Chinese electronic infrastructure in the bloc, after pressure from Washington and growing unease in capitals from Berlin to Tokyo.
Pensions and investments: Institutional investors are increasingly checking the data security practices of their service providers to make sure their data doesn't fall into the wrong hands, as is the case with the $57.1 billion Los Angeles County Employees Retirement Association, Pasadena, Calif., which is examining its relationship with its Boston-based custodian State Street Bank and Trust Co. after it experienced three documented data security incidents last year, board meeting documents reveal...
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