Information Security
IMF Report Unveils the $12 Billion Impact of Cyber Attacks on Financial Institutions
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.
US Health Department Warns Hospitals of Targeted Cyber Threats on IT Help Desks
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.
Biden's Budget: Cybersecurity Funding at $13 Billion for 2024
The Biden administration's latest fiscal blueprint, unveiled on Monday, doesn't present significant increases in cybersecurity funding, marking a departure from expectations within the cybersecurity community.
loanDepot Faces Major Data Breach: 17 Million Customers' Personal Information Compromised in Ransomware Attack
Mortgage lending firm loanDepot reported a significant breach in which the personal information of nearly 17 million customers was compromised during a ransomware attack in January.
U.S. Power Grids Face Growing Cyber Threats
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.
Bank of Ireland to invest €50 million in fraud prevention and protection
Source: Bank of Ireland
Bank of Ireland has announced an investment of €50 million on customer fraud prevention and protection.
BNY Mellon appoints Gary Delaney as international chief information security officer
Source: BNY Mellon
BNY Mellon has appointed Gary Delaney as International Chief Information Security Officer (CISO).
The Growing Threat of AI-Powered Cyber Attacks
Cybersecurity experts and insurance professionals are issuing warnings about the escalating utilization of artificial intelligence (AI) tools by cybercriminals and nation-state cyber operators.
Financial services top target for DDOS attacks
Source: FS-Isac
FS-ISAC, the member-driven, not-for-profit organisation that advances cybersecurity and resilience in the global financial system, and Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, released new research on the surge of distributed denial-of-service (DDoS) attacks threatening the financial services sector and its customers.
Fraud Surpasses $10 Billion in Losses for Americans in 2023
In 2023, Americans Fell Victim to $10 Billion in Fraud, with Investment Schemes Leading the Losses. Federal Trade Commission data reveals that fraud costs Americans over $10 billion in 2023, with investment scams responsible for nearly half of these losses.
Federal Cybersecurity Agency Hacked: Two Key Systems Offline Amid Growing Cyber Threats
Last month, a federal agency responsible for cybersecurity found itself targeted in a hacking incident, leading to the shutdown of two critical computer systems, according to a spokesperson for the agency and sources familiar with the matter speaking to CNN.
Dragos Inc. Report: Ransomware Attacks Surge by 50% in 2023
A recent report by industrial cybersecurity firm Dragos Inc. reveals a 50% surge in ransomware attacks targeting the industrial sector in 2023. Titled "The Importance of Industrial Cybersecurity," the report stresses the vital role of cybersecurity in safeguarding industrial operations amid digital transformation.
Bank of America Warns Customers of Data Breach Amid Cybersecurity Incident
Bank of America is alerting its customers about a data breach that occurred due to a security lapse at Infosys McCamish Systems, a company that provides services for deferred compensation plans at the bank.
