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Cision: The global cybersecurity market was valued at USD 118.78 billion in 2018, and is expected to reach USD 267.73 billion by 2024, registering a CAGR of 14.5%, during the period of 2019-2024. The rise in trend for IoT, BYOD, AI and machine learning in cybersecurity is increasing. For instance, machine learning provides advantages in outlier detection, much to the benefit of cybersecurity. Machines can handle billions of security events in a single day, providing clarity around a system's activity and flagging anything unusual for human review.
Channel News: Australian banks have received a warning from the nation‘s peak financial regulator to improve their poor “cyber hygiene”, following revelations that there have been some 36 significant data breaches in just four months.
Bloomberg: Cybersecurity company ForeScout Technologies Inc. is exploring strategic options, including a possible sale, after activist investors built a stake, according to people familiar with the matter.
The target: First American Financial Corp, a Fortune 500 real estate title insurance giant
The take: 885 million files, including records of wire transactions with bank account numbers, bank statements, mortgage records, tax documents, Social Security numbers and driver’s licenses.
The attack vector: FA’s webserver used a system of assigning sensitive documents unique web links – however, incrementing the id number in the link returned other, unrelated documents for any user accessing the site via web, with no authentication necessary.
‘Security by obscurity’ has no place in the 21st century – it is altogether insufficient to rely on the presumed inability of an attacker to locate sensitive resources left exposed to the public web. Any data which is not for public consumption must be protected with a secure authentication system to ensure that it can only be accessed by the intended audience.
AsianInvestor: A lack of adequate cyber security can have a huge impact on investment performance, so asset owners should take action to minimise such risks within their portfolio companies, says a new report by two British pension funds, with clear implications for their peers elsewhere.
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ITPro: At least five critical Indian government agencies have been reportedly targeted by North Korean hackers in recent months, including its atomic regulatory board and space agency.
Hedgeweek: DrawbridgeConnect-R continuously analyses a firm’s vulnerabilities – rather than providing a mere point in time vulnerability assessment – and helps firms identify, prioritise and remediate organizational cybersecurity weaknesses that leave data at risk.
Help Net Security: With the perpetually shifting threat landscape, most organizations (over 90%) believe that the cyber threat landscape will stay the same or worsen in 2020, according to FireEye.
ZDNet: The UK's twice-delayed departure from the European Union is still dependent on an exit deal being agreed by Parliament. Once this is done, the country currently has until the end of 2020 to agree on its future relationship with Europe.
InvestorDaily: The white paper, Keeping Our Money Safe: Data and Security of Payments in 2020 and Beyond, from InPayTech has forecast pay-tech vendors catering to the super sector will need to be aware of evolving customer experiences and expectations around data security.
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