WannaCry ransomware NHS cyber attack: A final warning for banks and fintech May 15, 2017 It was the most high profile cyber attack in some time, and one of the largest ever carried out. Governments, hospitals, companies and universities in over 150 countries were affected by the recent ‘WannaCry’ cyber attack, which affected more than 230,000 computers with ransomware and demanded bitcoin payments. Media coverage in the UK focused on [...]
NHS IT systems attacked: Hospitals across the UK have been hacked – reports May 12, 2017 A number of hospitals from 16 different NHS trusts across the UK have been hacked, according to reports. NHS Digital confirmed the attack, and said a number of NHS organisation have reported to NHS Digital that they have been affected by a ransomware attack. Some hospitals are having to turn patients away as they struggle [...]
Will payday lender Wonga’s reputation pay a price for its customer data breach? April 26, 2017 Over the last few years a number of high-profile brands have seen their customers’ data compromised – as the result of a deliberate hack or because of inadequate security procedures. The latest brand to suffer is Wonga. Earlier this month the payday loan provider suffered a data breach and warned that up to a quarter [...]
Why cybersecurity needs more attention from business leaders April 10, 2017 As businesses have become more dependent on technology, their exposure to cybersecurity threats increases – driving a need for boards and senior management to understand the risks. Cybercrime has grown so much that the Office for National Statistics (ONS) recently began including it in official figures. In 2016, a report from the National Crime Agency [...]
Abta cyber attack: Travel trade group targeted March 16, 2017 Abta, the travel trade organisation has been hit by a cyber attack resulting in the information of thousands of people and hundreds of companies being stolen. The organisation revealed the breach happened at the end of February, with cyber attackers taking the information of 43,000 individuals and 650 Abta members. 1,000 of the files are thought to [...]
Charlotte Hogg resigns as Bank of England deputy governor after conflict of interest row March 14, 2017 Charlotte Hogg has resigned from her position as deputy governor of the Bank of England after a report by MPs said her competence "falls short of the very high standards required to fulfil the… responsibilities" of deputy governor of the Bank of England. In a statement today the Bank of England said it had accepted her resignation, [...]
An epidemic of fraud costs the UK economy as much as £125bn every year February 15, 2017 An epidemic of fraud since the global financial crisis has cost the UK economy £125bn every year, according to new research. Business losses from fraud and error have increased by 43 per cent since 2008, according to the research by Crowe Clark Whitehill and the University of Portsmouth’s Centre for Counter Fraud Studies. The research [...]
Could corporate spying be a larger threat to business security than cyber attacks? February 14, 2017 When a fresh-faced graduate reported promptly one morning for his first day at a financial institution, he offered up a passport as identification. Reception staff checked his name off a list of other new recruits and issued him with a building pass to join scheduled induction sessions. He never attended the meetings, and instead swept [...]
More than half of businesses in the UK, US and Germany aren’t fully prepared to deal with a cyber attack February 7, 2017 More than half of businesses (53 per cent) in the UK, US and Germany aren’t fully prepared to deal with cyber attacks, according to a new study of 3,000 companies. Specialist insurer Hiscox’s cyber report – which assessed firms on strategy, resourcing, technology and process – found that UK firms are least likely to have [...]
Tesco Bank’s chief exec says lenders don’t pay customers enough interest on current accounts February 2, 2017 The boss of Tesco Bank has hit out at high street rivals, claiming they make billions of pounds by skimping on the rate of interest paid to customers. Benny Higgins, who led the lender through a mammoth cyber attack on Tesco Bank last November, said the amount of switching between providers remains "stubbornly low", something lenders [...]