Treasury hunts for a new cybersecurity boss – guess how little they are paying? March 30, 2023 Protecting the UK Treasury from a whole host of cyber threats sounds like quite an important role, and one that you might think warrants a decent salary in order to secure someone with the technical skill and professional track record who is able to take on the task. Well, not quite. Despite claiming the UK [...]
Malware attacks on UK government devices up by 75 per cent, report reveals March 7, 2023 Malware attacks on UK government ‘internet of things’ devices have risen by 75 per cent, a new report has revealed. Attempted attacks on the so-called internet of things (IoT) devices used by UK government facilities and departments jumped from 38,334 in 2021 to 67,324 in 2022, according to a report by US cybersecurity company Sonicwall. [...]
UK imposes ‘first of their kind’ sanctions on Russian hackers who attacked British firms, schools and hospitals February 9, 2023 The UK government has imposed “first of their kind” sanctions on seven Russian hackers accused of using ransomware attacks to take millions from British firms. The Russian hackers are alleged to have used “cynical cyberattacks” to extort at least £27m from 149 British victims, including schools, hospitals, and private businesses. The cybercriminals will now be [...]
Insurers falling short in modelling cyber and natural catastrophe risks, Bank of England warns January 23, 2023 The UK’s insurance regulator has called on insurers to bolster their cyber and natural catastrophe risk modelling capabilities in preparation for a period of “high volatility and uncertainty”. In a letter sent to UK insurance companies today, the Prudential Regulation Authority (PRA), which sits within the Bank of England, warned insurers models are continuing to [...]
Cost-of-living crisis will fuel tsunami of cyber attacks in 2023, warns industry insider January 11, 2023 The cost-of-living crisis is fuelling a surge in cyber attacks on UK businesses, a leading fraud expert has warned. Leigham Martin, group head of infrastructure and security at Connectus Business Solutions, shared with City A.M. that cutting costs on security will spell disaster for businesses. “There is increasing evidence that some businesses are looking to [...]
Darktrace shares down over 10 per cent after firm cuts revenue forecast January 11, 2023 British cyber-security company Darktrace cut its full-year revenue forecast on Wednesday after prospective customers turned more reluctant to run product trials due to the worsening economic environment. The company, which listed in April 2021, said it now expected its constant currency annual recurring revenue (ARR) to increase by between 29.0 per cent and 31.5 per [...]
Exclusive: Surge in fraud and scams sends shivers through the City’s financial services space January 11, 2023 Close to half of Londoners believe the financial services industry is more vulnerable to fraud and scams than ever before. And for good reason. In fact, with fraud costing the UK £9.3bn a year, identity theft leaping 11 per cent to an all-time high in 2021 and, for the year ending September 2021, overall fraud was [...]
18-year-old Brit arrested in international raid on hacker-for-hire sites December 15, 2022 An 18-year-old in Devon has been arrested by the UK’s National Crime Agency (NCA) following a series of international raids on DDoS-for-hire websites. The international operation – dubbed Operation PowerOFF – saw the FBI, NCA, Europol, and Netherlands Police shut down 48 of the world’s most popular DDoS-for-hire sites. DDoS-for-hire sites – also known as [...]
Lack of enforcement sees fraudsters resort to ‘brute force’ tactics, new report warns December 7, 2022 Fraudsters are increasingly resorting to “brute force” tactics, having been emboldened by a lack of consequences for those who are caught, a new report says. A lack of enforcement has seen fraudsters adopt increasingly unsophisticated methods, the report by Interpol and identity verification company Onfido says. The situation has seen criminals turn to using blanket [...]
Govt strengthens cybersecurity laws for public services November 30, 2022 The government said it will strengthen its cybersecurity laws to better protect essential services like water, energy and transport, from online attacks. In response to a public consultation earlier this year, the government has confirmed the Network and Information Systems (NIS) Regulations will be strengthened to protect essential and digital services against increasingly sophisticated and frequent cyber attacks both now [...]