Long considered a nuisance, distributed-denial-of-service attacks, or DDoS, are a growing problem for banks and other financial businesses, according to a new report. The volume of DDoS attacks targeting financial firms increased 22% year-over-year as of November, according to a …
A surge in cyber attacks and ransomware hacks since the start of pandemic lockdowns is alarming for a world of finance moving headlong into digital money and remote working longer term. The flipside of the digital revolution has always been …
Catastrophe modeling firm AIR Worldwide has released a new cyber risk modeling application for the insurance and reinsurance markets. ARC (Analytics of Risk from Cyber) is designed to evaluate any commercial policy (including those vulnerable to silent cyber), measure and …
Ironshore’s Pembroke Managing Agency Limited has updated its Financial Institutions Crime program to include cyber fraud and cyber extortion. Pembroke’s crime coverage for Financial Institutions indemnifies a company for direct financial loss resulting from internal and external fraud incidents. The …
ABA Insurance Services (ABAIS) launched a new cyber insurance product for banks that are insured through ABAIS to help them prevent, prepare for, and respond to data security incidents. BakerHostetler’s privacy and data protection team will provide legal services for …
The hackers who raided the data banks of JPMorgan Chase & Co. used computers now linked to possible attacks on at least 13 more financial companies, according to a person familiar with the investigation. More than a month after the …
