An IBM report that examined more than 500 cyber-security breaches occurring between August 2019 and April 2020 found the average breach costs companies $3.86 million and requires nearly 300 days to identify and contain.
Cybersecurity
Posted inEthics & Culture
Disney sends anti-hate message to Facebook; PG&E facing more heat
In this week’s “Nailed It or Failed It?”, Disney gets kudos for throwing its weight behind the #StopHateForProfit protest, while PG&E earns criticism after being found responsible for yet another California wildfire.
Posted inRegulatory Enforcement
First American first charged with NYDFS cyber-regulation abuses
First American Title Insurance Company has become the first firm to face charges alleging violations of the New York State Department of Financial Services’ Cybersecurity Regulation.
Posted inRisk Management
Twitter cyber-attack should be wake-up call for firms
The recent cyber-attack directed at Twitter was the online equivalent of an explosive device being detonated. The ICA breaks down lessons learned from the hack and what firms can do to enhance their cyber-security controls.
Posted inInternal Controls
Using data to fight fraud fire with fire
When it comes to ferreting out and thwarting fraud, one must think like the fraudster, advises financial crime expert Martin Woods, who offers tips on using data to make your firm a hostile environment for bad actors.
Posted inInternal Controls
How Twitter got hacked, and what you can learn from it
Twitter just suffered the biggest cyber-attack in its history. But is it being set up for something bigger? We explore that possibility and much more.
Posted inTechnology
Giant Twitter hack impacts Joe Biden, Barack Obama, Bill Gates, others
Perhaps the biggest Twitter hack of all time was perpetrated Wednesday against such notable figures as Joe Biden, Bill Gates, Elon Musk, former President Barack Obama, and Jeff Bezos, among others.
Posted inFinancial Services
OCIE issues ransomware alert to financial services
The SEC’s Office of Compliance Inspections and Examinations is advising financial firms to beware of a rise in more sophisticated ransomware attacks.
Posted inRisk Management
Study: U.S. largest target for ‘significant’ cyber-attacks
The United States has been on the receiving end of more significant cyber-attacks over the last 14 years than triple any other country, according to new research.
Posted inRegulatory Policy
Bill proposes national cyber-security czar
A bill with bipartisan Congressional support proposes to create a national cyber-security czar who would report directly to the president.
