The financial sector contains all the elements to make it the perfect target for cyber crime May 15, 2016 Telecomms giant Talk Talk and affairs facilitator Ashley Madison may have made headlines when they suffered data breaches last year, but a report due out on Tuesday will warn that the financial sector is the real top target for cyber attacks. The study by Marsh and TheCityUK will explore the extent of the risk that cyber crime poses to the City [...]
UK sleepwalks into cyber crisis May 10, 2016 British businesses are still not doing enough to protect themselves from costly cyber attacks, experts have warned ahead of a major conference on cyber security tomorrow. The Public Policy Exchange is hosting the high-level summit with the aim of ensuring the police, public and private sectors, industry and government might better work together to lower [...]
More proof British business is terrible when it comes to cyber security May 8, 2016 Two thirds of businesses in Britain have been targeted by cyber attacks in the past year while a quarter have experienced a security breach at least once every month, new research reveals. But an astonishing half of firms are still not tackling the issue by identifying the risks they face via audit or risk assessments, once again highlighting how unprepared [...]
Cyber attacks on energy infrastructure: Q&A with the World Energy Council’s Christoph Frei April 17, 2016 Christoph Frei is secretary general of the World Energy Council, a London-based, UN-accredited body which brings together energy experts from across government and business. He spoke to City A.M. about the the threat of cyber attacks to energy infrastructure, as well as how businesses and governments should be combating this. Is the risk of cyber attacks to [...]
How London can turn the cyber-attack onslaught into an opportunity April 14, 2016 Whether it be the spectre of terror attack or catastrophic flood, reinsurance pools across the globe have historically been developed to handle the kind of risk judged too great for the insurance industry to bear alone. When the IRA bombed the Baltic Exchange in 1992, the scale of physical damage to buildings in the City [...]
Cyber security: Why the EU General Data Protection Regulations will be game changing for unreported cybercrime March 29, 2016 A report by the Institute of Directors (IoD) and Barclays recently highlighted that one quarter of organisations had suffered a breach in the last twelve months, although only 28 per cent had reported it to the authorities. It is believed that the actual numbers of attacks could be higher. The fact is that there are still a large number [...]
TalkTalk customers can now talk their way into their accounts using voice biometrics March 17, 2016 TalkTalk customers can now access their accounts through voice recognition, just months after the telecoms company lost hundreds of thousands of customer's personal details in a massive hack. Customers calling the company will be asked to speak a phrase instead of entering a password or PIN. The first time a customer calls TalkTalk they will be [...]
Cyber attacks and data breaches are biggest threat to business in 2016 – Business Continuity Institute February 8, 2016 Cyber attacks and high-profile data breaches are the biggest threat to business in 2016, according to a survey of 500 companies from around the world. A whopping eighty-five per cent of risk experts polled by the Business Continuity Institute said they were concerned by the prospect of a cyber attack over the next 12 months, [...]
TalkTalk share price jumps as revenues rise – but cyber attack cost it £60m February 2, 2016 Shareholders seemed impressed with TalkTalk's recovery from the cyber attack that devastated it in October – it's even retained its dividend. But the hack still cost it as much as £60m. The figures In a statement this morning, the company said revenues rose 1.8 per cent in the third quarter, with on-net revenues growing 4.5 per cent. But the company [...]
HSBC down: Bank’s online banking back up after cyber attack January 30, 2016 HSBC today confirmed its online banking is back up following a cyber attack which forced it to go offline yesterday. HSBC said it had "successfully defended" its systems against a distributed denial of service (DDoS) attack but was not able to fully restore services immediately as it continued to experience threats. At the end of what HSBC described as "quite [...]