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Industry News: ESG5

    Inside a Massive Cyber Hack that Risks Compromising Leaders Across the Globe

    2019-10-02

    ABC News: One email was all it took for hackers to steal some of the most personal information from people potentially now in high-ranking roles across the globe.

    The cyber attack was so sophisticated it didn’t even need the person to click on a link or open a document to compromise decades worth of private information.

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    Financial Crime and Fraud in the Age of Cybersecurity

    2019-10

    McKinsey: In 2018, the World Economic Forum noted that fraud and financial crime was a trillion-dollar industry, reporting that private companies spent approximately $8.2 billion on anti–money laundering (AML) controls alone in 2017. The crimes themselves, detected and undetected, have become more numerous and costly than ever. In a widely cited estimate, for every dollar of fraud institutions lose nearly three dollars, once associated costs are added to the fraud loss itself.

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    Gone Phishing: How Easy is it to Fall for a Fake Email?

    2019-09-26

    CityAM: Phishing emails are a major concern in cyber security. Some, like that message, are intended to trick the recipient into revealing sensitive information, while others are used to install malware onto someone’s device – sometimes without their knowledge – or can even lead to a ransomware attack, where the user is locked out of their system unless they fork over cash to the perpetrator.

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    Cybersecurity: Why You Should Hire Staff from Firms That Have Fallen Victim to Hackers

    2019-09-25

    ZDNet: Companies that fall victim to cyberattacks and data breaches often come in for criticism, but one of the best things an organisation can do to ensure it remains protected against the impacts of a hacking incident is to take advantage of the expertise of cybersecurity professionals who've faced a major attack.

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    27 Countries Sign Cybersecurity Pledge with Digs at China and Russia

    2019-09-23

    CNN: Twenty-seven countries have signed a joint agreement on what constitutes fair and foul play in cyberspace — with a nod toward condemning China and Russia.

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    Cybersecurity Finally Hitting Bank Execs’ Radar: Now Investment Priority

    2019-09-16

    CBR: Improving cybersecurity is now top of the technology investment agenda at banks, according to an annual survey conducted by Lloyds Banking Group: climbing above reducing operating costs and improving customer satisfaction – last year’s priorities.

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    Top 3 Hedge Fund Cybersecurity Threats

    2019-09-04

    AGIO: In the context of cybersecurity, social engineering can best be defined as the use of deceptive tactics to prompt individuals to grant access or disclose information for fraudulent or malicious purposes. 

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    BEC Overtakes Ransomware and Data Breaches in Cyber-Insurance Claims

    2019-09-02

    ZDNet: Business email compromise (BEC) has overtaken ransomware and data breaches as the main reason companies filed a cyber-insurance claim in the EMEA (Europe, the Middle East, and Asia) region last year, said insurance giant AIG.

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    Stakeholders Seek Action Against Cyber Attack on Financial Institutions

     

    2019-08-29

    The Guardian: Internal Auditors and other stakeholders have emphasised the need for financial institutions to establish stiffer measures and proper monitoring to check incessant attacks on the cyberspace.For them, the organisations, particularly, financial institutions need to invest more in implementing additional security infrastructure and training of its personnel in cyber security.
     

    Serious Cyber Attack Could Trigger Full NATO Response, Says Jens Stoltenberg

    2019-08-28

    Sky News: A cyber attack such as the strike that brought down NHS hospitals in 2017 could prompt a response from all NATO countries, the alliance's general secretary has said.

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