By
Adrianne Appel2023-10-11T20:21:00
Businesses unnecessarily storing massive amounts of useless data create a “data hoarding” situation hackers love to exploit, according to a cybersecurity expert.
On average, two-thirds of the data stored by businesses is not needed and should be destroyed, said Tim Ayling, vice president of cybersecurity for Europe, Middle East, and Africa at information technology security company Imperva. Holding on to data creates vulnerabilities for businesses by giving cyberattackers more avenues to access an organization’s computer systems.
The more data a business has, the broader its attack surface is, meaning there are more possible vulnerabilities available for a hacker to exploit. If hackers can get access anywhere on a system, it might allow them to gain entry to other areas and extract other data they want.
2023-10-17T22:12:00Z By Jeff Dale
The United States and United Arab Emirates finalized an agreement to work together to safeguard the financial sector from cyberattacks.
2023-09-21T19:05:00Z By Neil Hodge
The furor over NatWest Group’s decision to monitor and close the account of right-wing Brexit campaigner Nigel Farage—and then disclose the details to a journalist—has raised questions regarding whether other banks employ the same means to get rid of undesirable customers.
2023-09-15T20:11:00Z By Adrianne Appel
Draft risk assessment regulations under the California Consumer Privacy Act are designed to prohibit businesses from handling consumer data if uncontrolled risks—to the security and privacy of the consumer, the public, or the business—outweigh the benefits.
2025-11-20T21:55:00Z By Ruth Prickett
Geopolitical instability and a general focus on increasing growth and productivity by governments worldwide are causing a slew of regulatory changes in the financial services sector. But most firms are failing to identify potential compliance changes early enough to make meaningful decisions.
2025-11-05T20:28:00Z By Ruth Prickett
Insurance firms are warning that AI-washing could trigger a slew of cases against directors, and are adjusting their directors’ and officers’ liability premiums accordingly. With regulators cracking down on AI-washing, compliance could be a crucial line of defense and save companies on their insurance costs.
2025-10-24T18:57:00Z By Ruth Prickett
“Hallucinatory” citations and errors in an AI-assisted report produced by Deloitte for the Australian government should be a wake-up call for compliance officers about the risks of placing too much trust in AI.
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