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Private Banker International: Cybersecurity has always been a pressing concern in financial services, but it is becoming a priority for investors. In terms of concerns, cybersecurity is always near the top for private banks, wealth managers and their clients. Protecting money, especially at the level of wealth, is crucial.
Private Banker International: In an era where cyber threats loom large over every industry, asset managers find themselves in an increasingly precarious position. With substantial assets under management (AUM) and access to sensitive client data, these firms are prime targets for cybercriminals.
Yahoo Finance: Global cybersecurity spending is projected to surge in coming years as artificial intelligence tools like chatbots and agents proliferate, creating new risks that force enterprises to shore up their information technology defenses, according to Bloomberg Intelligence analysts.
Forbes: Amid rising concerns about data breaches, identity theft and privacy violations, cybersecurity has become more than just an IT and business operations necessity—it has become a brand differentiator.
The Target: Globe Life is an American financial services holding company.
The Take: The information potentially exposed includes names, email addresses, phone numbers, and postal addresses. In some cases, Social Security numbers, health-related data, and other personal details may also have been involved.
The Vector: The ongoing review indicated that the breach may have involved information linked to its American Life Insurance Co. subsidiary. In a new SEC filing on Jan. 30, Globe Life reported that customer information compromised in the attack was traced to databases maintained by a limited number of independent agency owners.
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.
Tech Monitor: Cybersecurity vulnerabilities continue to pose significant risks to major corporations, with 96% of S&P 500 companies experiencing data breaches, according to the latest findings from the Cybernews Business Digital Index.
Funds Europe: Cybersecurity has emerged as a top priority for investors during fundraising due diligence, with 27% of investors now focusing on digital security risks, according to the Core Alternative Managers’ Mood Index (Cammi) report by Gen II Fund Services.
CFO: In an time where deepfakes, synthetic identity fraud and fake documents pose an increasing threat to businesses, audit committees are ramping up cybersecurity oversight — yet financial and nonfinancial firms are taking vastly different approaches.
CSO Online: CISOs are increasingly getting caught between business pressures and regulatory obligations, leaving them struggling to balance corporate loyalty and legal accountability.
Cybersecurity Dive: Cryptocurrency ransomware payments fell from a record $1.25 billion in 2023 to nearly $814 million in 2024, a report released by Chainalysis showed.
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