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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.
ZDNet: Generative artificial intelligence is transforming cybersecurity, aiding both attackers and defenders. Cybercriminals are harnessing AI to launch sophisticated and novel attacks at large scale.
The Target: Brightline, a pediatric mental and behavioural health provider.
The Take: Exposure of Personally Identifiable Information including: full names, physical addresses, dates of birth, member identification numbers, date of health plan coverage and employer names.
The Vector: A zero-day exploit was used to breach a third-party vendor, Fortra, of Brightline’s, targeting their file transfer software which let the attackers gain access to sets of files throughout the third-party vendor’s systems.
This breach is critical reminder that zero-day exploits do happen, and furthermore that patching software in a timely, effective manner is a key component of ensuring customer data is protected. Ensuring third-party vendors are deploying patches and fixes in accordance with a firm’s cybersecurity policy is an important step in an overall robust security posture.
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