Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Global Directors Beware: Are You Ready for EU’s Data Protection Regulation?
Feb 26 2018 // On May 25, 2018, the European Union (EU) General Data Protection Regulation (GDPR) will go into effect in the 28 EU member states. Companies, the world over, are now rushing to meet the deadline for compliance but how many...
Cyber Attacks Pose Greatest Threat to UK Businesses, Investors: PwC Survey
Feb 26 2018 // Investors and chief executives say cyber attacks pose the greatest threat to businesses operating in the U.K., outweighing other material risks including populism, trade protectionism and over-regulation, according to...
SEC Updates Guidance on Cyber Disclosure by Companies
Feb 22 2018 // The U.S. Securities and Exchange Commission on Wednesday updated guidance to public companies on how and when they should disclose cyber security risks and breaches, including potential weaknesses that have not yet been...
SMEs Underestimate Cyber Risks Which Could Prove ‘Fatal’: Allianz Report
Feb 21 2018 // Small- and medium-sized enterprises are waking up to the realities of cyber risks but still underestimate their exposures, which could prove catastrophic for some, according to a report published by Allianz Global...
India Cyber Bank Heist Used ‘Similar’ Methods to $81M Bangladesh Bank Hack
Feb 21 2018 // Hackers who tried to steal nearly $2 million from India’s City Union Bank this month used tactics similar to those employed in the unsolved cyber heist of $81 million from Bangladesh’s central bank in 2016,...
Artificial Intelligence Raises Real Risks from Malicious Hackers, Rogue States
Feb 21 2018 // Rapid advances in artificial intelligence are raising risks that malicious users will soon exploit the technology to mount automated hacking attacks, cause driverless car crashes or turn commercial drones into targeted...
The Cost of Cyber Attacks to U.S. Economy
Feb 20 2018 // Malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016, the White House said Friday. The estimate comes in a Council of Economic Advisers report on the impact of cyber attacks on U.S....
India’s City Union Bank Hit by Cyber Heist via SWIFT Payments System
Feb 20 2018 // India’s City Union Bank said on Sunday that “cyber criminals” had hacked its systems and transferred nearly $2 million through three unauthorized remittances to lenders overseas via the SWIFT financial...
Declarations
Feb 19 2018 // Proximate Cause “If the evidence shows the Thomas Fire or another peril covered by a homeowners insurance policy was the efficient proximate cause of mudflow damage, I expect insurance companies to step up and cover...
Insurance Industry Trends for 2018: A Top 5 Countdown
Feb 19 2018 // Bring up the insurance industry as fodder for cocktail party conversation, and the universal response is oftentimes a collective yawn. But for those in the know, the insurance sector — with a domestic surplus...
Who’s Insuring Your Privacy?
Feb 16 2018 // Who’s Insuring Your Privacy? The Federal Trade Commission is trying, but we live in a country where the mantra remains “Buyer Beware.” Unless you’re reading the privacy policies on every service,...
Trump’s FTC Appointee Eyes Task Force to Investigate Drug Prices
Feb 16 2018 // President Donald Trump’s nominee to lead the Federal Trade Commission said he’s “very concerned” about price increases for prescription drugs and will explore forming a task force to monitor whether...
Cyber Risk Management Fails to Measure Up to Escalating Cyber Risks: Marsh, Microsoft
Feb 16 2018 // Few organizations are highly confident in their ability to manage the risk of a cyber attack, despite viewing cyber security as a top risk management priority, according to a new global survey conducted by Marsh and...
Siemens Joins 8 Industry Partners (Including Allianz) to Counter Cyber Attacks
Feb 16 2018 // Siemens AG is joining with companies including Airbus SE and IBM to try to counter large-scale hacking attacks that threaten to cost $8 trillion in damage over the next five years. The group signed a charter Friday at a...
U.S. Says Russia to Blame for Last June’s NotPetya Cyber Attack
Feb 16 2018 // The United States on Thursday publicly blamed Russia for carrying out the so-called NotPetya cyber attack last year that crippled government and business computers in Ukraine before spreading around the world. The...
The High Cost of Cybercrime to Insurers and Banks
Feb 15 2018 // Cyberattacks cost financial-services firms more to address than any other industry and the rate of breaches in the industry has tripled over the past five years, according to a report from Accenture and the Ponemon...
Equifax Breach Exposed More Consumer Data Than First Disclosed
Feb 13 2018 // The Equifax data breach exposed more of consumers’ personal information than the company first disclosed last year, according to documents given to lawmakers. The credit reporting company announced in September that...
North-South Korea Tensions, Cyber Threats Worry Insurers of Olympics
Feb 9 2018 // If South Korea’s Winter Olympics go off without a hitch this month, organizers will not be alone in toasting success. Their insurers will also be celebrating a tidy profit. The Games are being staged about two...
Validus Specialty Launches Standalone Cyber Insurance Product
Feb 8 2018 // The Cyber and Technology insurance group of Validus Specialty Underwriting Services, Inc. have expanded its offering with a standalone cyber insurance product focused on privacy and network protection coverage. The product...
Massachusetts Launches Online Portal for Data Breach Reports
Feb 8 2018 // Massachusetts Attorney General Maura Healey has unveiled a new online portal to let businesses and organizations report data breaches. The Democrat said the online portal should make it easier to alert her office to the...
