cyber security News

China’s Fintech Investments in 2017 May Exceed 2016’s Record $10B: Accenture

Chinese financial-technology investments this year may exceed 2016’s record $10 billion as companies continue to raise funds for expansion and big banks grow their digital services, according to Accenture Plc. The country’s financial-services giants will probably ramp up investments in …

Testing of EU Banks’ Cyber Defenses Needs Common EU Approach: Official

European Union countries should test bank defenses against cyber attacks using a common set of requirements, a senior EU official said on Tuesday, as the bloc plans measures to boost the retail market for financial products. Cyber attacks against banks …

Beazley Taps Markel’s Tewfik as Underwriter for UK Tech & Data Breach Team

Beazley, a specialist in cyber and data breach response insurance, has appointed Michael Tewfik as a technology, media and business services underwriter focused on addressing the data breach and cyber security risks of organizations in the United Kingdom. He will …

Ukraine Blames Russian Hackers for Attacks on Power Grid, Financial System

Ukraine on Wednesday accused Russian hackers of targeting its power grid, financial system and other infrastructure with a new type of virus that attacks industrial processes, the latest in a series of cyber offensives against the country. Oleksandr Tkachuk, Ukraine’s security service …

UK Opens National Cyber Security Centre; MGA Sciemus Comments

The UK’s National Cyber Security Centre (NCSC) was officially launched this week – a government sponsored organization that is focused on improving the UK’s cyber security and cyber resilience. The NCSC will use its new offices in Victoria, London “to manage incidents, …

Tesco Bank Hack Still a Mystery – to Frustration of Other UK Lenders

British banking executives and security experts are growing frustrated at the dearth of information available more than three months after 2.5 million pounds ($3.09 million) was stolen from Tesco Bank in the UK’s biggest financial cyber heist. Security officers normally share information …

Nearly 1.9M Michigan Workers’ Info Possibly Compromised

Social Security numbers and other personal information of up to 1.87 million Michigan workers may have been compromised, the state said on Feb. 3. The problem stemmed from a software update to Michigan’s troubled unemployment computer system, state officials said. …

Europe’s Firms Face Potential ‘Perfect Storm’ of Cyber Threats: MMC Report

European companies are unprepared to cope with the reality of today’s cyber risks, according to a new report from Marsh & McLennan Cos. (MMC) and cyber security company, FireEye. However, companies will be forced into action as a result of …

Idaho Governor Orders Cybersecurity Improvements for the State

Idaho Gov. C.L. “Butch” Otter has signed an executive order aimed at protecting the state’s computer networks from hackers. The order signed this week creates a director of Information Security position, with that person reporting directly to the governor. The …

Canada’s Energy Firms at Risk from Cyber, Bomb Attacks: Security Service

Canada’s main spy agency last year warned energy companies about an increasing risk of cyber espionage and attacks on pipelines, oil storage and shipment facilities and power transmission towers using homemade explosives, according to a classified document seen by Reuters. …