The US Securities and Exchange Commission (SEC) has recently implemented new rule changes aimed at decreasing risks involved in securities clearance and settlement by reducing the settlement cycle to one business day, or T+1.
The Financial Stability Board (FSB) has intensified its scrutiny of Decentralised Finance (DeFi), expressing apprehension over the potential spill-over risks it poses to traditional finance. DeFi refers to a set of services in crypto-asset markets that aim to replicate some functions of the conventional financial system without the intervention of intermediaries.
The Personally Identifiable Information (PII) and Protected Health Information (PHI) of over 3.3 million individuals were stolen in a ransomware attack that took place at the California healthcare provider Regal Medical Group. The attack occurred on December 1, 2022, but was discovered a week later and impacted the Regal Medical Group and its affiliates.
The financial world is currently facing major disruption with the increasing presence of Big Tech firms such as Amazon, Apple and Google in the industry. As these companies push further into financial services with their data-driven business models, there is growing concern that the current regulatory approach is not equipped to handle the related policy challenges.
The United States and United Kingdom have made a significant move in the fight against cybercrime by imposing sanctions on seven members of the notorious Russian hacking group Trickbot. With a history dating back to 2016, Trickbot began its operations as a trojan virus aimed at stealing financial data and has since transformed into a sophisticated malware suite used for various malicious purposes, including ransomware attacks.
BOSTON--(BUSINESS WIRE)--Last month, the Identity Theft Resource Center (ITRC) reported that the overall number of publicly reported data breaches in 2022 remained at a steady high (1,802 incidents), coming up just shy of the record-high of 1,862 incidents reported in 2021. Further analysis of the ITRC data by Sontiq, a TransUnion company, reveals the number of entities compromised by those 2022 breaches reached 3,495* — nearly twice the number of publicly reported breaches.
Third-party data breaches are becoming an increasingly pressing issue in the healthcare sector, with victims doubling year after year. In fact, according to Black Kite’s Third-Party Breach Report healthcare has become the most targeted industry for cyberattacks. This is due to the sensitive nature of the information stored by healthcare organizations, including personal health information (PHI) and payment information.
When it comes to protecting your business from cyber threats, it's essential to think like a hacker. While traditional security approaches focus on detecting and blocking known threats, proactive security measures focus on anticipating and neutralizing future threats. By understanding the methods and tactics that hackers use to gain access to your systems and data, you can identify the gaps in your IT security posture and take steps to close them.
