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Hedge Week: The IT and cyber security infrastructure of a start-up fund is instrumental to its fate and can be key to determining whether it fails or succeeds. Therefore, a consultative approach in this regard can ensure their framework is fit for purpose and can effectively support the fund’s growth objectives.
Business Wire: The Cyber Risk Institute (CRI), the Cloud Security Alliance (CSA), and the Bank Policy Institute-BITS announced today the release of a cloud extension for the CRI Profile version 1.2. The “Cloud Profile” represents the collaboration of over 50 financial institutions and major cloud service providers (CSPs) to extend the CRI Profile, which is a widely accepted cybersecurity compliance framework for the financial sector.
Global Banking and Finance Review: From early 2020 until April 2021, financial sector cyber attacks increased an estimated 238%, and the costs of data breaches have also soared, with the average total cost of a data breach now estimated to be $4.2 million, according to IBM.
Yahoo Finance: After an unrelenting year of fighting off cyber threats, the financial services sector should expect more of the same or even worse, as nation-state hacking campaigns are expected to mirror geopolitical tensions and ransomware gangs retool to dodge increased scrutiny, according to an industry group report.
Business Wire: McAfee Corp., a global leader in online protection, today announced the completion of its acquisition by an investor group led by Advent International Corporation (“Advent”) and funds advised by Permira, Crosspoint Capital Partners L.P. (“Crosspoint”), Canada Pension Plan Investment Board (“CPP Investments”), GIC Private Limited (“GIC”), and a wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) (collectively, “the Investor Group”).
CNBC: The conflict has prompted concerns of cyberattacks, especially against critical infrastructure companies. Since last week, Ukraine has already experienced two such attacks that affected government websites. The U.S. attributed the first attack to Russia, which the country denied, and said the second one was consistent with what it would expect from Russia.
CNN Business: The standoff between the United States and Russia over the conflict in Ukraine has so far mainly played out on diplomatic and economic fronts.
Help net Security: Cyble announced that it has raised a US $10M Series A financing round led by Blackbird, with continued participation from Spider Capital, January Capital, Cendana Capital, and VentureSouq.
Dark Reading: If you knew that putting a lock on your front door would lessen the likelihood of your valuables being stolen, would you install a deadbolt? The logical and simple answer would be: yes.
Yahoo Finance: The global Cybersecurity market was valued at USD 149.7 Billion in 2020 and is projected to reach USD 346.0 Billion by the year 2027. The market is expected to register a CAGR of 13.4% during the forecast period.
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