cyber crime News

Some Passwords to Avoid: Team Names, Fictional Characters, Pop Stars and ‘123456’

British football fans should be wary of rooting for their team by making them a password. Liverpool, Chelsea, Arsenal, Manchester United and Everton are all passwords that have been compromised hundreds of thousand of times, according to research published by …

Philippines’ RCBC Sues Bangladesh Central Bank over ‘Vicious’ Cyber Heist Claims

A Philippine bank has filed a lawsuit accusing Bangladesh’s central bank of defamation, hitting back at what it says are baseless claims of its complicity in the world’s biggest cyber heist. In February 2016, criminals used fraudulent orders on the …

Hiscox Stages Cyber Attack to Show Small Businesses What It’s Like to Be Hacked

Hiscox, a specialist in small business and cyber insurance, recently staged a “real world” hack to demonstrate what a cyber attack would look like for small businesses. The insurer collaborated with UK bike manufacturer Brompton Bicycle, constructing overnight a complete …

U.S. Charges Traders, Ukrainian Hackers with Stealing SEC Filings on Corporations

U.S. authorities on Tuesday charged a suspected Ukrainian computer hacker and several traders with scheming to trade on market-moving corporate earnings news stolen from a U.S. Securities and Exchange Commission database. The charges against 10 defendants, including two charged criminally, …

CFC Expands Cyber Insurance Product with Business Interruption Cover

CFC, the London-based managing general agent that specializes in emerging risks, announced it has expanded its cyber insurance product to include business interruption as well as a variety of cyber-crime activities. With CFC’s new cyber insurance product, businesses will benefit …

North Korean Hackers Tried to Steal $1.1B over 4-Year Period: FireEye Report

A North Korean hacking group focused on financial gain for the rogue state has penetrated banks around the world with a series of ongoing attacks, and has tried to steal at least $1.1 billion over the last four years, according …

UK’s Tesco Bank Slapped with $21.4M Fine for ‘Foreseeable’ Cyber Attack in 2016

Britain’s markets watchdog has fined Tesco 16.4 million pounds ($21.4 million) for failing to protect account holders at its bank from a “foreseeable” cyber attack two years ago. The Financial Conduct Authority said that in November 2016 cyber attackers exploited …

The State of NAIC’s Data Security Model Law

Most states have yet to adopt a cyber security model law for the insurance industry like the one approved by the National Association of Insurance Commissioners in 2017, but one expert believes the industry should be prepared for what he …

Arizona City’s Online Payment System Finally up Following Cyber Attack

Officials in Goodyear, Ariz. say the city’s online payment system is functioning again after a cybersecurity attack affected the software. The city became aware of the situation on its online payment system May 7 and immediately shut it down. Customers …

Mastermind Behind ATM Malware Attacks Arrested in Spain

The mastermind behind malware attacks that programmed ATMs to spit out cash on demand and caused more than 1 billion euros ($1.2 billion) of losses, has been arrested in Spain. The leader of a criminal gang that carried out the …