With news that the retail industry could stand to miss out on £60 billion of sales from new PSD2 rules coming out in September, Mitek’s EMEA MD Rene Hendrikse comments on the need for retailers to invest in anti-fraud technologies to combat this issue and secure online transactions – sooner rather than later. The new rules on ‘strong customer authentication’ will require retailers, banks and FS firms to authenticate their customers through something they “have”, “are” and “know”. Rene warns that while banks are in the know, many retailers and online marketplaces simply aren’t prepared for – or even aware of – the need to comply…
ISBuzz Team
At the RSA conference last month, AT&T Cybersecurity took the opportunity to speak to over 700 attendees about their perception of cyberthreats and how security is viewed within the organisation. The full study, entitled “Confidence: the perception and reality of cybersecurity threats” and authored by security advocate Javvad Malik, has shown key findings that: Large enterprises are more aligned with stakeholders. Of the industries, retail was the most negative in terms of seeing eye to eye with stakeholders, with 17 percent of participants stating ‘not at all’ and a huge 43 percent stating that they only saw eye to eye…
It has been reported that 55% of small and medium businesses (SMBs) would pay up if they were hit by a ransomware attack. The number jumps to 74% among larger SMBs with 150 to 250 employees, as stated in the AppRiver Cyberthreat Index for Business Survey. Nearly 40% went so far as to say they “definitely” would pay the ransom, at almost any price, to prevent leakage or loss of data. https://twitter.com/NRockMartin/status/1121734713654304768 Five Phases of Ransomware Attack: https://twitter.com/williamharvey07/status/1082826850559234048 Expert Comments: Gavin Millard, VP Intelligence at Tenable: “Paying criminals is never something I’d personally recommend – after all, you don’t know who you’re dealing with and whether they…
Aebi Schmidt, Swiss manufacturer of the vehicles that clean and makes runways worldwide safe for planes to land on, has been hit by ransomware, systems going down across company networks following the attack. Manufacturing operations connected to the network were rendered unresponsive, forcing workers to be sent home. https://twitter.com/campuscodi/status/1121455021709828096 Ronan David, VP of Business Development at EfficientIP: “This incident follows on from the $300m attack on Maersk and more recently Arizona Tea which allegedly lost the company millions of dollars a day in sales. Companies should be very aware the ‘we’re too small to be targeted’ mindset is out of date and many don’t realise how much damage…
A new report from Blancco Technology Group has warned that those looking to make some money by selling used storage drives may be putting themselves at risk of falling victim to cybercrime. As detailed in Privacy for Sale: Data Security Risks in the Second-Hand IT Asset Marketplace, Blancco, in conjunction with Ontrack, analysed 159 leading brand drives purchased through auction site eBay in the US, UK, Germany and Finland, discovering that almost half (42%) still held sensitive data. Experts Comments: Paul Bischoff, Privacy Advocate at Comparitech.com: “Easy-to-use data recovery software is readily available online, often for free. While this software is targeted at users…
We’ve all heard of travelling light but what about travelling secure? Business not doing so well? Sales down? Margins are tight? No company would want their competitors or members of the public to know any of this information, but many of us would talk about it or write confidential emails about it in public, without giving it a second thought. The fact is that ‘shoulder-surfing’ or ‘visual hacking’ is a significant threat to organisational data. This often innocent action isn’t always the first thing that comes to mind when talking about data security but this issue can be just as…
It was reported today that researchers have discovered a spike in Beapy, a variant of malware that is using leaked National Security Agency (NSA) exploits to spread across corporate networks and force computers to run its cryptocurrency mining capabilities. The malware was first discovered in January and it has currently infected 12,000 devices across 732 organizations. Beapy relies on an employee opening a malicious email that will therefore allow the malware to create a persistent backdoor on the computer, it then uses the NSA’s EternalBlue exploit to spread laterally throughout the network; very similar to how WannaCry spread in 2017. Beapy also boasts open-source credential stealing capabilities…
New research from Experis explores the impact of Internet of Things on the cyber security jobs market UK businesses are struggling to find the right blend of security skills to harness the power of the Internet of Things (IoT). This is according to the latest Experis Industry Insiders report, which examines how the growth of IoT is impacting the cyber security jobs market. The report delves into the latest trends that are driving employers to think differently about their business and workforce strategies. Gartner predicts that 25 billion connected things will be in use by 2021. This presents a huge opportunity for businesses to harness data,…
More than 351,936 complaints of Internet-related crimes and scams streamed into the FBI’s Internet Crime Complaint Center in 2018 that resulted in $2.7 billion in losses. https://twitter.com/FBISacramento/status/1120723413985845250 Expert Comments: Lisa Baergen, VP of Marketing at NuData Security: “This report aligns with the sheer amount of records exposed since 2013: over 14 billion, according to the Breach Level Index. This is driving the market to implement more secure online authentication methods. With traditional methods of identification now unreliable due to all the data breaches (anyone can get their hands into a password for a few cents), it all comes down to identifying customers by…
3.35 billion – the number of data records that were compromised worldwide in the first half 2018 alone. 214 – the number of data records that are lost or stolen every second. 72% – the jump in the number of records compromised in 2018 in comparison to the same period in 2017. These staggering numbers were revealed by digital security specialists Gemalto, who also noted that the Asia Pacific region alone was responsible for 36% of these breaches, with Australia, India and Japan leading the pack for most number of incidents. The current state of affairs surrounding data security is…