cyber risks News

Cyber Protection as Important as Missile Defense Systems: Retired NATO General

A cyber attack on the German ports of Bremerhaven or Hamburg would severely impede NATO efforts to send military reinforcements to allies, retired U.S. General Ben Hodges told Reuters. The European Commission proposed an action plan to bolster cyber defense …

Cybersecurity Firm OutThink Raises $10M to Tackle Human Errors Behind Data Breaches

London-based cybersecurity company OutThink has raised $10 million in early-stage investments backed by venture capital firm AlbionVC, it said on Tuesday, as it looks to help organizations identify human behavior that can lead to data breaches. The company, which says …

EU Proposes Cyber-Security Rules for EU Institutions Amid Rising Cyber Attack Worries

EU countries should put in place a framework to manage cyber-security risks at EU institutions, the European Commission said on Tuesday, amid concerns about rising cyber attacks that could disrupt key activities and steal sensitive information. The proposal is part …

Crypto Exchange Binance Builds $1B Insurance Fund After Industry’s Recent Hacks

Binance Holdings Ltd. has built up a $1 billion insurance fund for its users amid a barrage of hacks on cryptocurrency trading platforms, according to a memo. Binance, the world’s largest crypto exchange by trading volume, has been earmarking money …

Regional Cyber Conflicts Could Lead to Infrastructure Attacks in 2022: CyberCube

Three regional cyber conflicts could lead to infrastructure attacks and damaging cyber espionage in 2022, a new report from cyber analytics company CyberCube says. The current cyber landscape, cyber hostilities between Israel and Iran, India and Pakistan, and China and …

Cyber, Business Interruption, Natural Disasters Ranked as Top 3 Business Risks: Allianz

A year of unprecedented cyber-attacks, business interruption and supply chain disruption, along with natural catastrophe activity has pushed these three perils to the top of the list of global business risks in this year’s Allianz Risk Barometer. Cyber incidents top …

New Public-Private Consortium Aims to Develop Protection Against Systemic Risks

The Cambridge Centre for Risk Studies (CCRS) at the University of Cambridge Judge Business School is launching a new research consortium that aims to find ways to protect society against future systemic risks. Funding will be provided by an international …

‘Cybersecurity Failure’ Named a Critical Global Threat in WEF Survey Report

“Cybersecurity failure” was identified as a critical short-and-medium-term threat to the world by respondents of the World Economic Forum’s Global Risks Perception Survey (GRPS). GRPS respondents rank cybersecurity failure among the top-10 risks that have worsened most since the start …

Climate Crisis Is Top Risk Facing World for Next Decade: World Economic Forum Survey

There’s little faith in the global economic recovery accelerating, with officials and business leaders citing climate change and rising social tensions, alongside the pandemic, among their top risks, the World Economic Forum found. Only one in six survey respondents from …

Canada’s Desjardins Group Reaches Settlement Over Massive Data Breach in 2019

Canada’s Desjardins Group said on Thursday it had reached a settlement with plaintiffs in a lawsuit tied to a massive data breach in 2019, which impacted the personal information of more than 4 million of the financial services firm’s users. …