Bangladesh’s central bank will file a lawsuit against a Philippines bank for its role in one of the world’s biggest cyber-heists two years ago, a deputy governor said on Wednesday. Unidentified hackers stole $81 million from Bangladesh Bank’s account at …
Major shortcomings exist in cyber security readiness for nearly three-quarters (73%) of more than 4,100 organizations in five countries, despite keen awareness of the threat, according to a study commissioned by specialist insurer Hiscox. Indeed, almost half, or 45 percent, …
Global banks need to do more to protect themselves from cyber attacks after a “significant evolution” in the threat level in the last 18 months, according to the SWIFT global payments network. Hackers are deploying increasingly sophisticated ways of breaching …
The “remorseless” growth of cyber crime is leading to 4,000 ransom attacks a day and gangs’ technological capability now threatens critical parts of the financial sector, the head of Europol said on Wednesday. Online criminals have become so sophisticated that …
A bank in Nepal is the latest victim in a string of cyber heists, though most of the stolen funds have been recovered, two officials involved in the investigation confirmed on Tuesday. [Editor’s note: Reuters issued a clarification to say …
If there were any remaining doubts about the vulnerability of our online systems, they were dispelled in September when giant credit reporting company Equifax revealed it was breached in July by cyber criminals, compromising the personal identifiable information (PII) of …
Cyber crime insurers largely avoided costly claims from the recent attacks that hit business around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an event over the next months that will seriously …
Businesses could face a much higher bill than they expect or are prepared for after falling victim to a cyber-attack, according to research from Lloyd’s in association with KPMG and legal firm DAC Beachcroft. As businesses increasingly become the target …
Three out of four oil and natural gas companies fell victim to at least one cyber attack last year as hacking efforts against the industry become more frequent and sophisticated. That’s the finding from a report released Monday by industry …
Tokio Marine Kiln (TMK), the London-based specialist insurance business, announces the launch of visual effects (VFX) and post production media insurance. TMK said its post-production media insurance offers flexible cover for companies specializing in online or offline editing and digital …
