cyber crime News

Business Interruption Remains Top Corporate Concern in 2017: Allianz

Business interruption is a top global corporate risk for the fifth year in a row. But worries about Brexit and incoming U.S. President Donald Trump also made the list of companies’ 2017 fears and uncertainties in a new Allianz report. …

California College Pays Hacker Ransom for Compromised Student Data

A California community college has paid a $28,000 ransom after a hacker took student data hostage. The Los Angeles Daily News reported that 1,800 Los Angeles Valley College teachers and staff were locked out of their computers last week, leaving …

Bangladesh Police Detail How Insiders May Have Aided Cyber Bank Heist

A top investigator into the electronic theft of $81 million from the Bangladesh central bank is turning his attention to some IT technicians from the bank whom he suspects hooked up its transactions system to the public Internet, giving hackers …

Turkey’s Akbank Faces Possible $4M Liability After Cyber Attack – But It’s Insured

Hackers targeted Turkish lender Akbank in a cyber attack on the SWIFT global money transfer system, the bank said, adding it faced a liability of up to $4 million from the incident but no customer information was compromised. It was …

SWIFT Official Warns Banks of Escalating, More Sophisticated Cyber Threats

Cyber attacks targeting the global bank transfer system have succeeded in stealing funds since February’s heist of $81 million from the Bangladesh central bank as hackers have become more sophisticated in their tactics, according to a SWIFT official and a …

Some Bangladesh Bank Insiders Helped Hackers Steal $81M: Investigator

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 Dhaka told Reuters on Monday. …

Bangladesh Investigators Blame Negligence of Bank Insiders for $81M Cyber Heist

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 Reuters on Thursday. In his first detailed …

Cyber Market Hampered by Insurability Challenges: Geneva Assoc. Report

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 published by the Geneva Association. The report, titled “Ten …

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 …