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Cyber Security

Symantec Q4 Revenue Up 10%, Fiscal Year 2018 Revenue Up 21% – Fiscal Year Ending March 30, 2018

Financial Highlights Q4 GAAP revenue $1.222 billion, up 10% year-over-year; non-GAAP revenue $1.234 billion, up 5% year-over-year Fiscal year 2018 GAAP revenue $4.846 billion, up 21% year-over-year; non-GAAP revenue $4.972 billion, up 19% year-over-year Enterprise Security and Consumer Digital Safety business achieved GAAP and non-GAAP revenue above guidance for both Q4 and fiscal year 2018 Cash flow from operating activities for fiscal year 2018 ... Read More »

‘Cyber is Uncharted Territory and It’s Going To Get Worse…’

During the recent shareholder’s meeting of Berkshire Hathaway the company’s CEO Warren Buffett warned that there’s about a 2% risk of a $400 billion disaster occurring as a result of a cyber-attack. “This is uncharted territory and it’s going to get worse, not better. You’re right in pointing that out as a very material risk that didn’t exist 10 to 15 years ... Read More »

BIIA Welcomes the National Internet Finance Association (NIFA) as a Member

Established on 25 March 2016, the National Internet Finance Association of China (NIFA) is a national self-regulatory organization in the field of Internet Finance and is initiated by the People’s Bank of China in collaboration with relevant ministries and commissions including the CBRC (China Banking Regulatory Commission), the CSRC (China Securities Regulatory Commission), and the CIRC (China Insurance Regulatory Commission). ... Read More »

About Cyber Insurance

Cyber Insurance is designed to help an organisation or individual mitigate the risk of a cyber-related security breach by offsetting the costs involved with recovery. The Australian government released a report in 2015 that stated that the average cost for a cyber-attack was $276,323. The report also found that 33% of businesses in Australia experienced cyber-crime in 2014, and that ... Read More »

Cybersecurity A Gold Mine For Jobs According to IBM India

IBM has said there is a massive shortage of cyber security professionals in the country, urging young graduates to look this segment, which is a high-margin segment for companies, as a lucrative career option. The company, which looks at India both as a market as well as a talent pool to serve the global markets on cyber security, said a ... Read More »

The Impact of Cybercrime on UK Business

Figures published by the government in 2017 revealed that almost half of all UK firms were hit by a cyber breach or attack in the previous year. Business leaders must be fully prepared in the increasingly complicated fight against breaches of data, hacking and phishing scams. The number of attacks is rising each year, and it has been estimated that online ... Read More »

Cyber Security Advice For SMEs

Cyber Crime can ruin your business and a potential bankruptcy can ruin your access to financial inclusion!  Here is what BIIA contributing editor Alfred Rolington has to say about protecting SME businesses: Synopsis We are at the beginning of an electronic revolution that like earlier industrial revolutions will substantially alter and change our society, the way we live, our engagement with ... Read More »

Equifax Provides Further Detail to Congress on Previously Disclosed Data Elements

On Friday, May 4, Equifax Inc. (NYSE: EFX) submitted a letter to several U.S. Congressional committees providing additional detail on the data elements impacted in the 2017 cybersecurity incident. The additional detail provided in the statement, which Equifax is disclosing publicly as part of its commitment to transparency, does not identify additional stolen data or newly impacted consumers, and does ... Read More »

Blockchain to Secure Storage of Sensitive Data?

Data Security is no longer a luxury or an afterthought. With so much of our private, personal, and sensitive information being stored and transmitted online, tight security and privacy are now necessities for everyone.  But, just as more of our lives are going online, we are hearing about more data breaches and hacks than ever. Blockchain technology can improve on current, ... Read More »

Australia’s Cybersecurity Adviser Calls For Privacy

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 »

Cyber Insurance: Korean Insurer Denies Claim from Bankrupt Crypto Exchange

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 »

Australia’s Notifiable Data Breaches scheme is now in effect

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 »

UK Banks Fall Behind In FinTech

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 »

Data Breaches: What happened at Under Armour®? … … It stinks!

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 »