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Insurance Journal: The New York State Department of Financial Services (DFS) has issued new guidance spelling out best practices for New York-regulated property/casualty insurers that write cyber insurance. This serves as the first guidance the regulator has issued on cyber insurance in particular.
Bleeping Computer: Leading French cybersecurity company StormShield disclosed that their systems were hacked, allowing a threat actor to access the company's support ticket system and steal source code for Stormshield Network Security firewall software.
Security Magazine: Cybersecurity training today is much different than it was 10 years ago. In most organizations, we have developed training that is engaging, interactive, even enjoyable at times. Security leaders of yesterday realized that having a once a year, boring, PowerPoint like training that employees had to undergo to check a box was not working. Everyone dreaded that training and that led to skimming the material and clicking through slides, then brute-forcing their way through the answers on the final exam.
Funds Europe: According to a survey of IT directors and chief technology officers by consulting firm Sionic, 93% of asset management firms have employees creating and designing their own applications.
Reuters: Suspected Chinese hackers exploited a flaw in software made by SolarWinds Corp to help break into U.S. government computers last year, five people familiar with the matter told Reuters, marking a new twist in a sprawling cybersecurity breach that U.S. lawmakers have labeled a national security emergency.
Help Net Security: Trend Micro shared results from a study that reveals systemic challenges with security integration into business processes. The report includes the top ways to drive engagement and agreement around cybersecurity strategies within an organization.
IT Pro Portal: Cybersecurity plays an essential role in protecting us and the digital systems we use on a daily basis. Although technology is rapidly evolving, we are witnessing a vast number of data breaches due to organizations facing minimal charges for poor protection of data and storage.
The target: Bonobos, a men’s clothing store.
The take: 70GB database containing personally identifiable information such as: 7 million order records, account information of 1.8 million customers with phone numbers, shipping and email addresses, 3.5 million partial credit card records, and hashed passwords.
The attack vector: While Bonobos’ own internal systems show no signs of breach, an externally hosted backup of the database was accessed in a provider’s cloud storage environment.
Security controls must always be commensurate with the sensitivity of data being stored, and must travel with that data, both within internal systems, and when transferring sensitive data to backup media or external vendor or partner’s systems. This attack highlights the importance of auditing and validating security controls at every stage of the data lifecycle.
Investment Week: WisdomTree Cybersecurity UCITS ETF (WCBR) has been developed alongside venture capital firm Team8 and will track the bespoke WisdomTree Team8 Cybersecurity index. It will be available to investors on the London Stock Exchange, Borsa Italiana and Börse Xetra for a total expense ratio of 0.45%.
Cnet: Based on what we know so far, hackers didn't steal as much personal data in 2020 as they did in previous years, but that doesn't mean they weren't able to make plenty of money. According to a report released Thursday by the Identity Theft Resource Center, hackers and identity thieves used stolen passwords and personal information to profit in new ways from your information.
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