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FundsTech: Europe’s main securities regulator has elevated cyber risk and digital resilience to the top of its supervisory authorities for the coming year.
CSO: A cybersecurity self-assessment of 697 Australian organizations revealed 58% have limited or no capability to protect confidential information adequately.
The Target: Hilb Group, a business that handles property, casualty, and employee benefits insurance and advisory services at more than 130 locations across 22 US states.
The Take: People's first and last names and sensitive financial data and credentials. Specifically, Financial Account Number or Credit/Debit Card Number (in combination with security code, access code, password or PIN for the account).
The Vector: Hilb says it discovered "suspicious activity" related to employee email accounts around January 10. After doing some digging, and bringing on a third-party incident response firm, the insurance brokerage determined someone broke into those inboxes between December 1, 2022 and January 12, 2023.
This breach highlights the extreme importance of timely software updates for known software vulnerabilities, not only in systems directly under a firm’s control, but in third-party systems the firm relies upon as well. The longer a firm, or its vendors, hold out on deploying the most up-to-date software for their systems, the greater the chance an attacker will exploit the issue.
BNN Bloomberg: OpenAI is grappling with “abnormal traffic” that suggests hackers are trying to swamp its services, revealing for the first time the potential cause of outages that’ve plagued ChatGPT this week.
CSO: As AI technology advances, cyber defenders are spending more on the technology to defend against malicious actors who currently hold an asymmetric advantage in deploying new AI-generated threats.
PR Newswire: Mendoza Ventures, a female and Latinx-founded Fintech, AI, and Cybersecurity Venture Capital firm, announced that Truist Ventures is investing in its Early Growth Fintech Fund as a limited partner. The fund is targeting $100M and will invest in early growth-stage startups with a focus on diverse teams.
Yahoo Finance: Gen Digital beat second-quarter revenue estimates as rising digital threats and hacks drove stable demand for its cybersecurity products, sending the company's shares more than 3% higher before the bell.
Dark Reading: Back in July, the Securities and Exchange Commission (SEC) adopted a rule "requiring registrants to disclose material cybersecurity incidents they experience and to disclose on an annual basis material information regarding their cybersecurity risk management, strategy, and governance."
TechCrunch: Palo Alto Networks has just confirmed one more major piece of security startup M&A out of Israel: It has acquired Talon Cyber Security, a specialist in building enterprise browsers for securing distributed workforces sources.
Yahoo Finance: Electronics makers Siemens, Ericsson and Schneider Electric, along with industry group DigitalEurope warned that onerous proposed EU rules targeting cybersecurity risks of smart devices could disrupt supply chains on a scale similar to during the pandemic.
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