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IT-Online: According to the World Economic Forum, cybercrime damages are projected to reach $6-trillion in 2021, which would equal the GDP of the world’s third largest economy. Spending by enterprises on cybersecurity is continuing to grow, defying the pandemic-driven economic downturn impacting global IT spending.
Forbes: Data has often been called the most valuable commodity of the digital world or the most valuable resource (paywall) in the world. In modern economics, it has perhaps surpassed the traditional worth of gold. Some have even gone on to suggest that it is as real an asset as land is, and perhaps even a more profitable factor for production in terms of revenue potential.
KnowBe4: Mid-level managers need to be particularly wary of targeted phishing attacks, according to Jenn Gast at INKY. Gast explains that criminals can easily conduct open-source research on a company’s organizational structure and craft spear phishing messages to trick its employees.
Security Magazine: Financial services institutions and banks around the globe face monumental challenges as they look to streamline service delivery for customer transactions, manage multi-party loan processes, collaborate on industry benchmarks and indices, and eliminate fraud and cybercrime.
Cision: The research covered 50 medium-sized personal data breach cases with a damage scale of more than 1,000 cases and less than 1 million cases caused by unauthorized access and categorized the personal data breach cases into eight industries: manufacturers, retail, services and infrastructure, software and telecommunications, trading companies, financial services, advertising/publishing/media, and government/public offices/organizations, based on the information of the companies that announced the breach.
DARKReading: Technology and security companies teamed up with the financial services and telecommunications industries to disrupt the command-and-control (C2) infrastructure used to manage the well-known Trickbot ransomware to infect more than a million computing devices, the firms behind the takedown.
Institutional Asset Manager: Cyber-enabled fraud attempts are escalating and evolving, and the current remote working environment has created additional vulnerabilities that firms need to address. The memo, produced by the SBAI’s Governance Working Group, provides guidance on key controls that help protect managers’ payment processes. It also can be used as a tool for investors to evaluate these controls during due diligence.
Security Magazine: Security teams in the financial services sector are experiencing even more exacting demands as they defend their organizations in a world under a new and unexpected threat — a global pandemic, says a new Accenture report, "2020 Future Cyber Threats: The latest extreme but plausible threat scenarios in financial services."
Business Wire: CyberSaint, the developer of the leading platform for automated, intelligent cybersecurity program management, today announced the availability of new features supporting the Financial Services Sector Cybersecurity Profile within the CyberStrong platform, including automated mappings between those standards and the NIST Cybersecurity Framework, FFIEC, and others.
ZDNet: The general public faces phishing attempts, spam, malvertising, and more in their daily lives. However, in the business realm, successfully targeting major companies -- including banks, industrial giants, and medical facilities -- can be far more lucrative for cybercriminals.
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