UnitedHealth Group expects the cyberattack on its Change Healthcare unit to cost up to $1.6 billion this year but maintains its 2024 earnings forecast, indicating a less severe impact than anticipated.
US and European authorities have initiated informal discussions regarding consumer financial protection matters, focusing on the growing influence of Big Tech in payment services, the utilization of artificial intelligence (AI) in lending practices, and the emergence of buy now, pay later (BNPL) models.
A recently issued report by the International Monetary Fund (IMF) reveals that financial service enterprises have endured significant losses totaling $12 billion over the past twenty years due to cyber assaults.
According to a recent webcast by the North American Electric Reliability Corporation (NERC), there's a concerning trend of increasing vulnerability to cyberattacks within the U.S. power grids. The number of potential weak points in both virtual and physical infrastructure is rising, with approximately 60 new susceptibilities identified each day. NERC executives noted that these vulnerabilities, which are areas in software or hardware prone to exploitation by cyber criminals, expanded from 21,000-22,000 at the close of 2022 to a range of 23,000-24,000 last year.
Source: AXA
A worldwide leader in insurance and asset management, AXA and AWS (Amazon Web Services) an Amazon.com, Inc. company (NASDAQ: AMZN), announced their intention to jointly develop and build AXA Digital Commercial Platform (DCP) and associated software services to enable next-generation risk management.
In a recent alarming development, the US Department of Health has issued a stern warning to hospitals across the nation about a new wave of cyber threats targeting their IT help desks. The advisory comes amidst growing concerns over the vulnerability of healthcare institutions to malicious cyber activities.
A consortium of seven central banks has partnered with the Bank for International Settlements (BIS) to delve into the potential of tokenization for facilitating cross-border payments.
In a landmark development, the United States and the United Kingdom have inked the inaugural international bilateral agreement aimed at regulating the potential risks associated with artificial intelligence (AI) models.
