The Financial Crimes Enforcement Network (FinCEN), part of the US Department of the Treasury, has released an alert to financial institutions that fraudsters are attempting to steal much more money through Business Email Compromise than previously believed.
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New York is joining other US states in expanding its definition of a data breach to include unauthorized “viewing” of data. The amendment also expands the definition of private information.
Software is powering much of the world today, from the largest computing machines to the smallest devices that can fit on a computer chip. That means there is a greater opportunity than ever for security breaches. As any end user knows, even the highest quality software can come with vulnerabilities.
Risk management firm LexisNexis Risk Solutions, in conjunction with Information Security Media Group (ISMG), recently announced the results of an online survey they conducted to identify current trends in healthcare cybersecurity. The survey is based on responses from more than 100 participants working within including hospitals, physician group practices and payers. The survey was conducted over the spring of 2019.
The cost of data breaches keeps increasing for companies, and new research indicates that the financial impact can continue to sap company coffers for years after the incident occurs. Released this week, the 2019 Cost of a Data Breach Report from Ponemon Institute showed that the average data breach now costs companies $3.92 million globally. This represents a 12% rise in breach costs over the last five years.
Costs associated with a data breach have surged this year to $3.92 million, according to IBM’s latest Cost of a Data Breach study. And more than a third of it stems from lost business.
As data protection authorities start to dish out GDPR-related fines, businesses in the US must learn to better communicate their data-handling practices to customers. The pressure is on for businesses to seed trust in their user base.
- Machine Learning enables network security solutions to enhance their ability to detect advanced, stealthy threats
- Bitdefender NTSA relies on semi-supervised machine learning to identify key patterns and trends in live data flows, with minimal human input
- New, specialized ML algorithms help detect attacks that use DNS and FTP services
With less than six months until 2020, experts forecast the industry will be struggling to secure over 20 billion devices from attacks. Cybercrime will never cease to be a money-making machine, with hackers already making trillions of dollars from stealing sensitive data, medical records, financial information and credit history.
The financial impact of cybersecurity breaches on companies in the UK has climbed to a whopping average of an annual £4,180 in 2019, nearly double 2017’s £2,450, according to a UK government survey conducted in winter 2018 and early 2019. The cost has risen significantly for companies that lost critical data or assets following a cyber incident or breach.
Companies worldwide expect to boost cybersecurity investments by 34% in the next fiscal year, after raising them 17% the current year, new research shows. The reason? More than one in 10 firms loses upwards of $10 million after falling victim to a cyber attack.
Phishing attacks strike again. Last week, Nemadji Research Corp., which does patient eligibility and billing services work for the Los Angeles County Department of Health Services, discovered that they’d been breached by a phishing attack. The attack enabled the criminals to gain access to the medical records of nearly 15,000 patients.