Cyber Security

The Australian government’s national cybersecurity adviser has urged social media companies to improve the way they treat personal data and encouraged users of those platforms to be more aware of what information they are offering up to the Internet. Amid the heightened debate around the use of personal data online, Alastair MacGibbon, who heads the Australian Cyber Security Centre, also suggested ... Read More »

South Korean cryptocurrency exchange Youbit has reportedly had its insurance claim denied months after it closed following a debilitating hack. In December, Youbit declared bankruptcy after suffering twin hacks over the course of 2017, including one that officials suspected at the time could be traced to North Korea. The second attack, which Youbit said resulted in the loss of “about ... Read More »

The Notifiable Data Breaches (NDB) scheme comes into effect today, requiring agencies and organisations in Australia that are covered by the Privacy Act to notify individuals whose personal information is involved in a data breach that is likely to result in “serious harm”, as soon as practicable after becoming aware of a breach. Launching the new legislative direction on Thursday, ... Read More »

The British Government might claim the UK is a world leader in technology, but UK banking customers are missing out on seamless online transactions enjoyed in other countries by a failure of banks, and even fintech, to fully embrace facial recognition, automated data capture and social media data analysis. According to an international study commissioned by identity data intelligence specialist GBG ... Read More »

The athletic wear company announced Thursday that an unauthorized party gained access to the data tied to its fitness app, MyFitnessPal. The breach, which took place late February 2018, affected approximately 150 million user accounts. The related information that was accessed includes: Usernames Email addresses Hashed passwords The company is urging MyFitnessPal app users to update passwords immediately. Following the ... Read More »

Despite an overall decrease in fraud and computer misuse in 2017, the latest UK Office for National Statistics (ONS) reports show that incidents involving computer misuse and malware against business are way up. There were 4.7 million incidents of fraud and computer misuse in the 12 months to September 2017, a 15% decrease from the previous year, according to the latest ... Read More »

A recent study showed that over 60 percent of corporate data is stored on employee endpoints. And yet, as companies work to ensure compliance with the new General Data Protection Regulation (GDPR), they still may be overlooking a few key areas.  The GDPR globally impacts the processing of all personal data on EU residents and takes effect on May 25, 2018. The ... Read More »

Regional Meeting – March 14th to 15th, 2018 Sofitel Phnom Penh Phokeethra Hotel, Phnom Penh, Cambodia The following presentations were made at the meeting. BIIA would like to thank all of our speakers for their contributions. Introduction to BIIA and overview of the global industry trends and key regulatory themes – Neil Munroe, Deputy Managing Director, BIIA Cross border sharing ... Read More »

Cyber security is now high on the agenda of businesses as they are locked in an arms race to stay ahead, or even catch up, to highly sophisticated cyber criminals.  The comment was made at the 2018 World Economic Forum Annual Meeting in Davos.  It was also stated that the aggregate economic cost of cyber security is now estimated over ... Read More »

The number of exploit kit attacks is, slowly but surely, going down, and malware peddlers are turning towards more reliable tactics such as spam, phishing, and targeting specific, individual vulnerabilities. The bad news is that everything else is on the rise: BEC scams, ransomware, stealthy crypto-mining, the number of enterprise records compromised in data breaches. Last Year’s Threat Landscape Trend Micro ... Read More »

New capabilities are part of FICO® Enterprise Security Score Highlights: The FICO® Enterprise Security Score now has an insurance dashboard that underwriters can use to understand their exposure and make better pricing and portfolio decisions Underwriters can calculate risk metrics, simulate risk scenarios, insert their historical data, review risks at a policy, portfolio and book-of-business level, and more Breach insurers may use the ... Read More »

Siemens AG is joining with companies including Airbus and IBM to try to counter large-scale hacking attacks that threaten to cost $8 trillion in damage over the next five years. The group signed a charter recently at a security conference in Munich urging stronger safeguards against assaults on digital systems that control homes, hospitals, factories and nearly all infrastructure.  The charter aims to ... Read More »