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Chief Investment Officer: Cybersecurity breaches reported by British financial services companies more than tripled in the 12-month period ending June 30, with the pension sector reporting the biggest increase at 4,000%, according to research from international law firm Reynolds Porter Chamberlain.
Help Net Security: 78% of Europe’s largest financial institutions experienced a third-party breach in the past year, according to SecurityScorecard. In the wake of attacks such as MOVEit and SolarWinds, cybersecurity regulations are increasing the need for comprehensive approaches to manage vendor risk and ensure compliance.
Business Wire: SecurityScorecard today announced the release of a new report on the Digital Operational Resilience Act (DORA). The report analyzes 240 of the largest financial institutions in the European Union that must comply with the Digital Operational Resilience Act (DORA) by January 2025.
BNN Bloomberg: British cybersecurity officials are investigating an alleged cyberattack on a group of hospitals in London that has led to the disclosure of confidential documents online.
CSO: Research suggests UK banks are lagging on email cybersecurity measures exposing customers, staff, and stakeholders to increased risk of email-based impersonation attacks.
The Record: James Babbage, the head of the United Kingdom’s National Cyber Force (NCF), is to leave his role commanding the nation’s elite hacking capabilities later this month to take the reins at the National Crime Agency’s (NCA) directorate for economic and organized crime threats.
MSN: The European Investment Bank (EIB) has been hit by a cyber attack suspected to have been orchestrated by Russian hackers, days after threats to bring down the Western financial system.
The Guardian: About 90 organizations have reported breaches of personal information held by Capita after the outsourcing group suffered a cyber-attack, Britain’s data watchdog has said.
City AM: A London-based artificial intelligence firm has announced a $250m cash injection led by the Qatari sovereign wealth fund as investors rush to capitalise on a boom in AI technology.
The Target: Leverage EDU, a software University Admission platform.
The Take: Exposure of over 240,000 records of Personally Identifiable Information including: names, email addresses, passport scans, applications, bank statements and loan information.
The Vector: A misconfigured database was left open and unsecured with no password, meaning anyone with an internet connection could have viewed and downloaded the trove of data.
This shows how important authentication controls are and that they are purposefully and smartly deployed with security in mind. Multi-factor authentication and password length and complexity rules on server access are effective strategies to mitigate these kinds of breaches to protect a firm’s data.
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