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The Guardian: The boss of HSBC’s UK arm has said the bank is “being attacked all the time” by online criminals, with cybersecurity now its biggest expense, costing the lender hundreds of millions of pounds.
CNBC: According to Nikesh Arora, even “naysayers” of AI are now trying to move data to the cloud in order to keep up with competitors. New AI models require the cloud, he said, claiming that businesses will be left behind if they don’t move their company to the platform.
PYMNTS: Thirty percent of data breaches that occurred during the year ended Oct. 31 involved a third party, according to Verizon.
SecurityWeek: The company, which is working on technology to revamp corporate incident response reporting systems, said the new financing included expanded equity positions for SYN Ventures and Overline.
The Target: Crypto giant Coinbase
The Take: The company said the hacker stole customer names, postal and email addresses, phone numbers, and the last four-digits of users’ Social Security numbers. The hacker also took masked bank account numbers and some banking identifiers, as well as customers’ government-issued identity documents, such as driver’s licenses and passports.
The Vector: Coinbase said the hacker “obtained this information by paying multiple contractors or employees working in support roles outside the United States to collect information from internal Coinbase systems to which they had access in order to perform their job responsibilities.”
This breach is a stark reminder of how strong authentication controls are in an overall robust cybersecurity posture, and that good password hygiene plays a pivotal role in protection.
CNBC: Cybersecurity firm Proofpoint announced it will acquire European rival Hornetsecurity for $1 billion to strengthen its European presence as it explores a return to public markets.
CIO Dive: Almost half of bank executives surveyed recently by KPMG expect that generative AI will be able to handle between 21% and 40% of their teams’ daily tasks by the end of the year.
Dark Reading: Orca Security announced it has acquired Opus, a Tel Aviv, Israel-based security startup which developed autonomous vulnerability management technology using agentic AI to remediate and prevent malicious activity automatically.
Cybersecurity Dive: A coalition of 52 U.S. organizations urged lawmakers to reauthorize a law that protects cyber threat information that businesses share with the federal government.
CIO Dive: CEOs expect the growth rate of artificial intelligence investments to more than double during the next two years, prompting an increase in AI-related hiring and reskilling initiatives, according to a May 6 report from IBM’s Institute for Business Value.
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