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Business Wire: A new report from Juniper Research found that the cost of data breaches will rise from $3 trillion each year to over $5 trillion in 2024, an average annual growth of 11%. This will primarily be driven by increasing fines for data breaches as regulation tightens, as well as a greater proportion of business lost as enterprises become more dependent on the digital realm.
Tech Startups: CrowdStrike, a cybersecurity company that provides cloud-based endpoint protection, has launched a $20m early stage investment fund. Started in partnership with Accel, Falcon Fund will focus on seed and Series A investments in security startups that are building applications on the CrowdStrike Falcon platform.
The Wall Street Journal: A national-security panel that oversees foreign investment in U.S. businesses approved the transfer of a stake in cybersecurity company Cofense Inc. from a Russia-linked private-equity firm to funds managed by BlackRock Inc.
People familiar with the matter said the Committee on Foreign Investment in the U.S., known as Cfius, gave its approval to the deal on Monday.
Funds Europe: Cryptocurrency thefts and scams have surged throughout 2019 so far, with criminals and fraudsters netting billions from users and exchanges as cybercrime techniques continue to evolve with the times.
The Jerusalem Post: The cybersecurity competition, in partnership with the Mayor’s Office of the Chief Technology Officer (MOCTO) and the New York City Economic Development Corporation (NYCEDC), attracted over 160 cybersecurity start-ups from 18 countries, all presenting solutions to help small businesses protect themselves against cyberattacks.
Forbes: Apple has massively increased the amount it’s offering hackers for finding vulnerabilities in iPhones and Macs, up to $1 million. It’s by far the highest bug bounty on offer from any major tech company.
That’s up from $200,000, and in the fall the program will be open to all researchers. Previously only those on the company’s invite-only bug bounty program were eligible to receive rewards.
Computer Weekly: The UK cyber security services market is one of the most mature in the world. It has benefited from the development of a higher education system that generates significant numbers of cyber security professionals, a mature training market that allows people to cross-train, and well-structured career pathways to promote professional practices, underpinned by codes of conduct and ethics that are both meaningful and enforceable.
The Wall Street Journal: BlackRock Inc. is no longer in talks with Pamplona Capital Management to take over the private-equity firm’s stake in cybersecurity company Cofense Inc.
The New York Times: A single weak spot is all savvy hackers need. And they often find them. Already this year, there have been 3,494 successful cyberattacks against financial institutions, according to reports filed with the Treasury Department’s Financial Crimes Enforcement Network.
KnowBe4: Global losses to cybercrime total $1.5 trillion per year, which amounts to $2.9 million per minute, a new report by RiskIQ shows. Some of the largest companies are losing $25 each minute due to security breaches. Phishing campaigns accounts for losses of $17,700 per minute and ransomware attacks are expected to cost the world $22,184 per minute this year.
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