cyber attacks News

Rising Risks Could Cost Global Cities $1.17 Trillion of GDP in 2017: Cambridge Study

The costs of major shocks to the global economy from natural and manmade threats could put at risk $1.17 trillion of the total projected GDP of the world’s major cities in 2017, according to the findings of a report compiled …

Update: Hackers Steal $31M from Russian Central & Commercial Banks

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 of cyber attacks on financial institutions …

Bank of England Beefs Up Cyber Resilience Tests for UK Banks After Tesco Hack

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 said on Wednesday. The bank also …

Hackers Remotely Steal ATM Cash in Latest Twist on Cyber Bank Heists

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 IB. Diebold Nixdorf and NCR Corp., …

The Right Cyber Coverage Can Protect a Business from Financial Ruin

A recent report on cybersecurity still shows many companies are unprepared for cyberattacks. The report, conducted by KPMG and British Telecom, reveals only 22 percent of companies have a comprehensive plan in place to deal with a major cybersecurity incident. …

Tesco Reveals $3M Was Stolen from 9,000 Customers in Recent Cyber Bank Theft

Retailer Tesco Plc’s banking arm said on Tuesday that 2.5 million pounds ($3 million) had been stolen from 9,000 customers over the weekend in what cyber experts said was the first mass hacking of accounts at a western bank. Tesco …

Tesco Bank’s Cyber Attack Investigated by UK’s National Crime Agency

Britain’s National Crime Agency (NCA) is leading a criminal inquiry into the theft of money from thousands of Tesco Bank accounts that the UK financial watchdog said was unprecedented. New cyber crime agency National Cyber Security Centre (NCSC), a government …

Recent Cyber Attacks Reveal Dangers, Vulnerabilities of Internet of Things

Recent cyber attacks harnessing everyday devices such as cameras, video recorders, printers, routers and speakers are a wake-up call to the hidden dangers of the Internet of Things. The problem for the device makers, though, is that few are well …

Corporations Have ‘Alarmingly High’ Failure Rate with Their Cyber Defenses: Accenture

About one-third of targeted attempts to breach corporations’ cyber defenses succeed but three-quarters of executives remain unaccountably confident in their security strategies, Accenture Plc. reported Wednesday in a survey of 2,000 security officers representing large enterprises worldwide. The “alarmingly high” …

UK to Boost Cyber Security Defenses with £1.9B Investment

Britain will boost its cyber security defenses with a 1.9 billion pound ($2.32 billion) investment due to be announced by Finance Minister Philip Hammond later on Tuesday, a statement from the Treasury said. The new National Cyber Security Strategy will provide funding to develop …