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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.
CNN: The National Security Agency announced Tuesday it is creating a new Cybersecurity Directorate, which will "unify NSA's foreign intelligence and cyberdefense missions and is charged with preventing and eradicating threats to National Security Systems and the Defense Industrial Base."
Financial Times Adviser: Speaking at the FCA’s annual public meeting, July 17, Megan Butler said the number of incidents reported to the regulator had increased to 916 for the year 2018-19 from 229 the year before.
Cision: Advisor Group, one of the nation's largest networks of independent wealth management firms, comprising FSC Securities Corporation, Royal Alliance Associates, SagePoint Financial and Woodbury Financial, announced the introduction of the CyberGuard Program, an evolving toolkit of cybersecurity services and support platforms aimed at empowering its 7,000 advisors across the country to protect themselves and their clients from the ever-increasing threat of cyber-attacks.
BBC: The Federal Trade Commission (FTC) has been investigating allegations that political consultancy Cambridge Analytica improperly obtained the data of up to 87 million Facebook users.
Business Standard: An estimated two million cyber attacks in 2018 resulted in more than $45 billion in losses worldwide as local governments struggled to cope with ransomware and other malicious incidents, a study showed.
Bloomberg: The cyber attack, which Marriott disclosed last year, exposed information on 339 million guest records, including 7 million related to British residents, the U.K. Information Commissioner’s Office said in a statement. It’s the second time in two days the regulator has taken advantage of far-reaching European Union powers after proposing a 183.4 million-pound penalty against British Airways.
Business Wire: This cooperation strengthens the existing relationship between the two organizations, ensuring information and technology sharing can support INTERPOL in cybercrime-related investigations. Within the new agreement, Kaspersky will share information about its cyberthreat research and provide the necessary tools to assist with full digital forensics, aimed at strengthening efforts on the prevention of cyberattacks.
Business Insider: Cybersecurity is a growing threat for global financial institutions, yet most of them are ill-prepared to respond within their current infrastructure, according to new report. The cost of dealing with a cyberattack’s aftermath is particularly high for wealth managers and banks, Boston Consulting Group found in its annual report on global wealth-management trends. ...
CharityUpdate: Over a third of charities risk exposing themselves to potential internal fraud due to “inconsistent background checks”, new research has found. The research, carried out by background and identity services firm Sterling, titled ‘Insider Fraud, Cyber-crime and Background Checks in the Charity Sector’, revealed that 37% of individuals responsible for hiring in the sector do not have a consistent employee background screening programme in place. The firm has urged charities to ensure they have “consistent and carefully applied” background screening programmes in place in order to avoid the “growing threat” of insider fraud. ...
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