Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Some Bangladesh Bank Insiders Helped Hackers Steal $81M: Investigator
Dec 13 2016 // Some Bangladesh central bank officials deliberately exposed its computer systems and enabled hackers to steal $81 million from its account at the Federal Reserve Bank of New York in February, a top police investigator in...
Bangladesh Investigators Blame Negligence of Bank Insiders for $81M Cyber Heist
Dec 9 2016 // A Bangladesh government-appointed panel investigating the cyber-heist of $81 million from its central bank in February found five officials at the bank were guilty of negligence and carelessness, the head of the panel told...
Cyber Market Hampered by Insurability Challenges: Geneva Assoc. Report
Dec 9 2016 // While insurance against cyber risk represents a tremendous new business for the insurance industry, numerous problems with the insurability currently impede the development of the market,” according to a new report...
New Army Cyber Command Headquarters to Open in Georgia
Dec 9 2016 // Military officials at Fort Gordon in east Georgia have broken ground for the future headquarters of the U.S. Army’s cyber operations. Lt. Gen. Paul Nakasone, commanding general of U.S. Army Cyber Command and Second...
ThyssenKrupp’s Trade Secrets Targeted in ‘Massive’ Cyber Attack
Dec 8 2016 // Technical trade secrets were stolen from the steel production and manufacturing plant design divisions of ThyssenKrupp AG in cyber attacks earlier this year, the German company said on Thursday. ThyssenKrupp, one of the...
Over-Compensating Data Breach Victims Can Backfire
Dec 7 2016 // Compensation in response to a data breach is most effective when it meets customers’ expectations for what is appropriate, according to a new study by information systems researchers at the University of...
California’s Cyence Hires Merchant to New York City Office
Dec 7 2016 // Cyence, a San Mateo, Calif., based company that works to empower the insurance industry to model the economic impact of cyber risk, has named John Merchant as director of business development. He will be working with...
Update: Hackers Steal $31M from Russian Central & Commercial Banks
Dec 5 2016 // Hackers stole more than 2 billion roubles ($31 million) from correspondent accounts at the Russian central bank and from accounts in commercial banks, the bank said on Friday [Dec. 2], the latest example of an escalation...
Talbot Underwriting Beefs Up Cyber Offering, Hiring ANV’s Mayes & Anderson
Dec 5 2016 // Talbot Underwriting Ltd., a wholly owned subsidiary of Validus Holdings Ltd., has appointed a dedicated team of cyber underwriters. Phil Mayes joins the team as senior class underwriter, and Gillian Anderson joins the team...
Task Force Submits Cybersecurity Recommendations to North Dakota Governor
Dec 2 2016 // A state task force on capital cybersecurity has submitted its recommendations to North Dakota Gov. Jack Dalrymple. Topics in the report include improving monitoring and scanning of the state’s information technology...
Audit Hits Regulator for Not Testing Brokerage Firms’ Cyber Security Policies
Dec 2 2016 // The U.S. Commodity Futures Trading Commission failed to verify whether futures and swaps brokerage firms have adequate policies to help ward off cyber attacks, an internal CFTC audit found. The audit was completed in...
What Executives Need to Know About Managing D&O Liabilities: Allianz Report
Dec 2 2016 // Company directors and senior managers across the globe are increasingly likely to face costly regulatory investigations, criminal prosecutions or civil litigation, which not only put their company’s assets, and their...
Bank of England Beefs Up Cyber Resilience Tests for UK Banks After Tesco Hack
Dec 1 2016 // The recent theft of money from accounts at retailer Tesco’s online banking arm caused the British authorities to enact contingency plans to allow lenders to share information after the attack, the Bank of England...
Most Organizations Not Adequately Prepared for Cyber Attacks: Marsh & McLennan Cyber Handbook
Nov 30 2016 // No company is fully secure from cyber breaches, no matter how sophisticated its cyber defense mechanisms, which is why every company should develop a cyber risk management strategy, according Marsh & McLennan’s...
Central Indiana County’s Hacked Computer System Taking Weeks to Restore
Nov 29 2016 // Workers have spent weeks restoring a central Indiana county government’s computer system that was hacked by an unknown group demanding a ransom payment. Madison County officials decided to pay the undisclosed ransom...
Cyber Risk Awareness Rises Among SMEs: Zurich Survey
Nov 29 2016 // One way to reduce cyber risks is to boost awareness of them. In that regard, Zurich Insurance Group says, there has been big progress in terms of getting the word out among small and medium-sized businesses. At the same...
Emerging Markets to Drive Insurance Sector Growth in 2017: Swiss Re
Nov 28 2016 // The global economy is expected to grow moderately over the next two years, supporting continued growth in insurance premium volumes, according to a Swiss Re report. Growth in global non-life premiums is forecast to fall...
Hackers Remotely Steal ATM Cash in Latest Twist on Cyber Bank Heists
Nov 22 2016 // Cyber criminals have remotely attacked cash machines in more than a dozen countries across Europe this year, using malicious software that forces machines to spit out cash, according to Russian cyber security firm Group...
W. R. Berkley Forms Cyber Risk Unit with Chubb’s Vispoli at Helm
Nov 21 2016 // W. R. Berkley Corp. announced the formation of Berkley Cyber Risk Solutions. The new organization will offer specialty commercial insurance coverages on a worldwide basis to clients of all sizes on behalf of W. R. Berkley...
People
Nov 21 2016 // Former long-time Chubb executive Dino E. Robusto assumes the roles of CNA chairman and chief executive officer on Nov. 21, succeeding Thomas F. Motamed, who is retiring after eight years in those positions. The succession...
