Despite heightened interest in enterprise deployment of artificial intelligence, only 40 percent of respondents to ISACA’s second annual Digital Transformation Barometer express confidence that their organizations can accurately assess the security of systems based on AI and machine learning.

The infamous Cobalt hacking group, responsible for hundreds of millions of dollars of damages to financial institutions, appears to be embarking on a new campaign.
According to researchers at security firm Netscout, the crooks have already targeted Russia's NS Bank and Romania's Patria Bank with their latest scam.

Singapore's banks have been ordered to tighten customer verification procedures following the recent cyber attack at SingHealth where personal information of 1.5 million individuals was illegally accessed and stolen.

RiskIQ, the global leader in digital risk management, today revealed that its researchers traced the breach of 380,000 sets of payment information belonging to customers of British Airways to Magecart, the credit-card skimming group made infamous for its July breach of Ticketmaster.

The Singapore FinTech Association (SFA) and Thomson Reuters are to collaborate on projects to promote the country's fintech industry and strengthen its fight against cybercrime.

Cryptomining malware has replaced ransomware as the crybercrime tool of choice for the online criminal fraternity, accounting for 32% of all recorded attacks in Skybox Security's mid-year tech threats report.

British Airways has been hacked, compromising the card details of hundreds of thousands of customers who used its website and app over a two-week period.
Alex Cruz, BA's boss says that the website suffered a "sophisticated, malicious criminal attack".

A Russian hacker who caused the collapse of one US company and racked up $4 million in fraudulent spending on fake debit cards has received a six-year jail sentence. Mikhail Konstantinov Malykhin used login credentials supplied to him by another hacker to illegally access the online software platform of a healthcare benefits administration firm.

IBM (NYSE: IBM) Security today announced the results of a global study examining the full financial impact of a data breach on a company's bottom line.
Overall, the study found that hidden costs in data breaches - such as lost business, negative impact on reputation and employee time spent on recovery - are difficult and expensive to manage. For example, the study found that one-third of the cost of "mega breaches" (over 1 million lost records) were derived from lost business.

Both UK and European banks are separately looking at projects to design an early warning system using market data to mitigate the threat of major misconduct or the beginning of the next financial crisis.

The UK's TSB has chalked up a whacking £107.4 million first half loss as the early costs of its disastrous IT migration to a new Banco Sabadell platform begin to emerge. TSB's notoriously botched migration to the new IT system in April locked customers out of online and mobile customers for over a month and led to a surge in cybercrime as criminals took advantage of the chaos.

RiskIQ, the leader in digital threat management, today revealed that its researchers have discovered that the recent breach of Ticketmaster was not a one-off event as initially reported, but part of a massive digital credit card-skimming campaign by the threat group Magecart affecting over 800 e-commerce sites around the world.
The report highlights how Magecart has evolved tactically from hacking sites directly, to now targeting widely used third-party components.