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Yahoo Finance: The rise in cyberattacks is bad news for business—but it has been good news for Huntress, a company that helps small and medium-sized businesses protect themselves against cyberattacks, and just raised its biggest round ever.
Institutional Asset Manager: In a recent Crestbridge Alternative Managers’ Mood Index (CAMMI) survey, results highlighted the growing concern of investors in cybersecurity during the fundraising due diligence process in the fund management industry.
Business Daily: An Equity Bank customer has sued the lender for breach of data privacy after his confidential banking information was allegedly shared with a third party.
The Target: NextGen Healthcare, a U.S based maker of electronic records software and management services.
The Take: Exposure of 1 Million records of Personally Identifiable Information including: names, addresses, dates of birth, and social security numbers.
The Vector: An employee’s credentials were compromised through a credential stuffing attack. These breaches rely on employees reusing passwords between platforms, which allowed the attackers to login to NextGen systems.
This breach is a stark reminder of how important authentication controls and password hygiene are in an overall robust cybersecurity posture. Regular social engineering, phishing awareness training, and in this case, tightly enforced password and identity management, are effective strategies to mitigate these kinds of breaches to protect a firm’s customer base.
The Guardian: The outsourcing firm and government contractor Capita has revealed it will take a hit of up to £20m from a recent cyber-attack in which some customer, supplier and staff data was accessed by hackers.
XM: Australia's TechnologyOne Ltd TNE.AX said it had detected an unauthorised third-party access to its back-office systems, becoming the latest target in a series of cyber attacks that has bogged companies in the country since last year.
Investment Executive: With economic activity increasingly taking place online, cyberattacks are an ever-present threat. That’s why cybersecurity companies — often referred to as the utilities segment of the digital world — continue to grow rapidly even in a sluggish economy.
Yahoo Finance: Agio, a leading managed IT and cybersecurity provider for financial services firms, published its annual 2023 Hedge Fund Managed IT Trends Report.
Forbes: Cybersecurity is not one thing but a layering of security tools and processes to protect your data. The two most common layers people think of are the firewall and antivirus solutions.
Verdict: Analysis of the key themes driving private equity deal activity reveals that cybersecurity accounted for 18 technology deals announced in Q1 2023, worth a total value of $2.1 billion.
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