UK businesses have slashed their cyber security budgets by a third October 18, 2017 Businesses in the UK have cut the amount of cash they are spending on cyber security despite the growing threat of attacks. Budgets for security are a third of what they were this time last year, down to £3.9m on average, compared to £6.2m according to research from PwC. The cost of attacks has fallen, [...]
UK companies are facing a shifting range of security threats October 2, 2017 The threat level in the UK is severe – and arguably not just in relation to terrorism. Recent incidents have shown that any organisation, regardless of its sector or size, could be adversely affected by a security attack. Whether it is a malicious and indiscriminate ransomware campaign, similar to Petya or WannaCry, or getting caught [...]
London businesses suffer the highest level of employee frauds in the UK September 18, 2017 British businesses lost at least £40m last year from frauds perpetrated by their own employees, with London accounting for the largest chunk by far, new data published today has revealed. Losses from employee fraud were highest in the Greater London area covered by the Metropolitan Police, at £7m in 2016/17, according to government figures obtained [...]
Two-thirds of FTSE 350 board members lack cyber hack training August 21, 2017 The majority of board members at Britain’s biggest public companies have received no training in how to handle a cyber attack despite it rapidly rising up the business agenda, according to a new survey. Some 68 per cent of board members in the FTSE 350 said they have not been trained in responding to a [...]
Employees are your biggest risk: Data hygiene needs to start at the top July 25, 2017 It’s beginning to feel like we’re hearing about big cyber security incidents every day. From the recent WannaCry malware attack, which affected organisations across the globe, to the ongoing allegations of nation state cyber espionage, cyber security is never out of the news. To help tackle this ever-evolving threat landscape, there’s a whole host of [...]
Here’s some cybersecurity advice if you don’t wanna cry July 4, 2017 Last week, barely a month since the WannaCry attack, companies around the world were struck by another major ransomware cyber attack. With two similar looking, large-scale incidents occurring within such a short window, companies are naturally anxious to know how they can protect themselves against the next – inevitable – attack. It’s all about the [...]
Banks to be forced to reveal all cyber security breaches to the European Central Bank June 19, 2017 All banks regulated by the European Central Bank (ECB) will be forced to reveal all major cyber security breaches, according to one of the supervisor’s bosses. Starting this summer, banks directly supervised by the ECB will have to “report all significant cyber incidents”, said Sabine Lautenschlaeger, a member of the ECB’s executive board. At a [...]
Rampant ransomware raises risk of data breach sanctions under GDPR June 7, 2017 A ransomware infection would be considered a data breach under the terms of the new data protection regulation that comes into force next year, cybersecurity and legal experts say. Ransomware encrypts the data on an infected machine, and criminals demand payment from the owner to release the information. Ransomware is one of the fastest-spreading forms [...]
Can you spot a liar? May 31, 2017 “Everybody knows we are in a post-truth world,” deception detection expert Pamela Meyer told delegates at the 70th CFA Institute Annual Conference in Philadelphia. “People will tell you anything.” That’s why we need to be mindful of the verbal and nonverbal clues that indicate deception, Meyer explained. She is a certified fraud examiner, the author [...]
Aviva just backed insurance focused fintech startup Neos and will probably acquire one soon, says CEO Mark Wilson May 25, 2017 Aviva is splashing cash on a startup focusing on insurance for connected homes in the latest signal of the insurers intent when it comes to technology – and it may even stretch to buying a small tech firm in future, it has revealed. The venture arm of Aviva has led a £5m series A funding [...]