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Hackers Breached Virginia Bank Twice in Eight Months, Stole $2.4M

Krebs on Security

Now the financial institution is suing its insurance provider for refusing to fully cover the losses. But just eight months later — in January 2017 according to the lawsuit — hackers broke in to the bank’s systems once more, again gaining access to the financial institution’s systems via a phishing email.

Insurance 197
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Episode 158: How NotPetya has Insurers grappling with Systemic Cyber Risk

The Security Ledger

We talk to Bruce McDonnell of the East West Institute about how insurers are responding. Related Stories Episode 155: Disinformation is a Cyber Weapon and APTs warm to Mobile Malware Podcast Episode 117: Insurance Industry Confronts Silent Cyber Risk, Converged Threats NotPetya Horror Story Highlights Need for Holistic Security.

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Insurers’ digital focus is looking through the wrong ‘lens’

CGI

Insurers’ digital focus is looking through the wrong ‘lens’. Tue, 02/28/2017 - 03:52. Read any article on digital insurance and it seems to me that it is all about the insurers! harini.kottees…. Add new comment. Blog moderation guidelines and term of use.

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The hidden threats facing your intellectual property

IT Governance

For life sciences and pharmaceutical companies, this includes data on the development and testing of new therapies and details of how therapies are manufactured. In the 2017 WannaCry attack, for example, cyber criminals used ransomware to prevent victims from accessing their IP unless a ransom was paid. What are the threats?

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The Scammers’ Playbook: How Cybercriminals Get Ahold of Your Data

eSecurity Planet

According to statistics from the FBI’s 2021 Internet Crime Report , complaints to the Internet Crime Complaint Center (IC3) have been rising since 2017. According to the 2021 IBM Threat Force Intelligence Index , Manufacturing was the industry most likely to be attacked last year, comprising 23.2% billion in reported losses.

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Regulatory Update: NAIC Summer 2018 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2018 National Meeting in Boston, Massachusetts, from August 4 to 7, 2018. NAIC Continues its Evaluation of Insurers’ Use of Big Data . The NAIC is also considering insurers’ use of big data in underwriting life insurance products.

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China Publishes Draft Regulations on Protecting the Security of Key Information Infrastructure

Hunton Privacy

On July 10, 2017, the Cyberspace Administration of China published a new draft of its Regulations on Protecting the Security of Key Information Infrastructure (the “Draft Regulations”), and invited comment from the general public. The Draft Regulations will remain open for comment through August 10, 2017. This post has been updated. .