[From the desk of Paul Davis – his opinions and no-one else’s]
Apart from the reporter’s opinions đ
Anybody going to RSA conference.. Let me know. Paul
So onto the news:
**
————————————————————
**
————————————————————
**
————————————————————
**
————————————————————
**
————————————————————
**
————————————————————
**
————————————————————
* Cyber crime is fastest growing economic crime, says PwC report
* Linedata Services : Cybercrime looms large on the horizon for asset managers, but regulation and operational systems remain immediate priorities
* Risk management key to cyber security, says Bank of England CISO
* U.S. Asks Tech and Entertainment Industries Help in Fighting Terrorism
* One-third of North Texas companies surveyed say theyâve been cyberattack victims
* Last Year 700 Million Records Were Compromised
* Rhode Island Amends Identity Theft Protection Act
* Why Security Pros Are Always Under Pressure
* How to Suck at Information Security â A Cheat Sheet
* Free Online Tools for Looking up Potentially Malicious Websites
* New insurance product focuses on prompt alerting of cyber risks
Cyber crime is fastest growing economic crime, says PwC report
Cyber crime is up 20% since 2014 and is the fastest growing economic crime, according to PricewaterhouseCoopersâs (PWC) latest biennial Global Economic Crime Survey.
The UK has seen a double-digit rise in economic crime against corporates in the past two years, with 55% of organisations affected â up 11% since 2014 and well above the US (38%) and China (28%).
Globally, the economic crime rate has remained largely static at 36%, according to the survey of more than 6,000 respondents in 115 countries.
The survey found that 60 % of economic crime in the UK was committed by external perpetrators, up from 56% in 2014.
While there was a decline in economic crime perpetrated by employees (31%), there was an 11% increase in fraud committed by senior management to 18%.
However, only 12% of UK respondents believe that law enforcement authorities have the necessary skills and resources to investigate it, compared with 23% globally.
Almost a third of UK organisations say they have no cyber incident response plan.
Surprisingly, almost half say that cyber crime would have no effect on their reputation, and almost 60% are not concerned about the potential for theft of intellectual property.
Link: http://paulgdavis.us3.list-manage.com/track/click?u=45bf3caf699abf9904ddc00e3&id=14601ea349&e=20056c7556
Linedata Services : Cybercrime looms large on the horizon for asset managers, but regulation and operational systems remain immediate priorities
PARIS, BOSTON, LONDON, HONG KONG, NEW YORK, February 25, 2016 – Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, releases the results of the 2016 Global Asset Management and Administration Survey.
⢠Cybercrime is seen as the greatest business disruptor over the next five years
⢠58% of respondents cite regulation as their main concern
⢠35% see ETFs as a major growth area over the next 12 months
⢠Just 8% see Blockchain as a potential disruptor over the next five years
⢠Client service seen as the most powerful way of standing out from the crowd
Link: http://paulgdavis.us3.list-manage.com/track/click?u=45bf3caf699abf9904ddc00e3&id=eea2bf4f79&e=20056c7556
Risk management key to cyber security, says Bank of England CISO
Risk management is a vital component of any cyber security strategy, security experts told the European Information Security Summit 2016 in London.
âBut cyber risk is not about technology alone; it is also about people and processes, and therefore it is about leadership and management,â said Will Brandon, chief information security officer at the Bank of England.
âAny cyber risk is combination of threats, vulnerabilities and assets â and all three have to be present for a risk to exist,â said Brandon.
According to Brandon, every organisation needs a range of mitigations and controls aimed at reducing the risk of the most likely threats.
Link: http://paulgdavis.us3.list-manage.com/track/click?u=45bf3caf699abf9904ddc00e3&id=06e7b428c7&e=20056c7556
U.S. Asks Tech and Entertainment Industries Help in Fighting Terrorism
Obama administration officials met with executives of major technology and entertainment companies in Washington on Wednesday to discuss combating the activities of violent extremists online, according to industry and government officials.
Many of the tech companies are willing to work on ways to combat violent extremism on social media.
The meeting on Wednesday, called the âMadison Valleywood Project,â in reference to the participation of marketing, tech and entertainment firms, focused on terroristsâ use of social media to organize and recruit members for violent extremism.
Link: http://paulgdavis.us3.list-manage1.com/track/click?u=45bf3caf699abf9904ddc00e3&id=326b8528ae&e=20056c7556
One-third of North Texas companies surveyed say theyâve been cyberattack victims
Forty-two percent of the companies surveyed by Deloitte said they have cyber insurance.
Only 16 percent of the companies said they did not have a cyber incident response plan.
1 in 3 D/FW companies said theyâve been victims of a cyberattack in the last two years.
97 percent said they believe itâs important to understand the nature of cyber threats.
42 percent said their company has cyber insurance.
55 percent said their company does not have cyber insurance.
16 percent said their company does not have a cyber incident response plan.
81 percent said theyâve been involved in rehearsals of the cyber incident response plan.
Link: http://paulgdavis.us3.list-manage1.com/track/click?u=45bf3caf699abf9904ddc00e3&id=c81c9c6a9f&e=20056c7556
Last Year 700 Million Records Were Compromised
Over 700 million data records were compromised last year thanks to 1,673 data breaches, according to digital security firm Gemalto.
The majority of incidents (53%) were related to identity theft rather than financial access (22%) or account access (11%).
Malicious outsiders accounted for the majority of breach incidents (58%), with accidental loss (24%) and then malicious insiders (14%) coming next.
Link: http://paulgdavis.us3.list-manage.com/track/click?u=45bf3caf699abf9904ddc00e3&id=b1545a24ef&e=20056c7556
Rhode Island Amends Identity Theft Protection Act
Rhode Island recently amended its 10-year-old Identity Theft Protection Act effective June 26, 2016, further defining and refining existing data security and breach notification requirements, and adding a requirement to notify the Rhode Island Attorney General of certain breaches.
More specifically, the amended statute, available here, makes the following changes to Rhode Islandâs existing information security and breach notification law:
Link: http://paulgdavis.us3.list-manage1.com/track/click?u=45bf3caf699abf9904ddc00e3&id=2707a23d6f&e=20056c7556
Why Security Pros Are Always Under Pressure
A shortage of security expertise is now the third biggest pressure security professionals face, up from eighth last year, according to a new report.
Advanced security threats and the adoption of emerging technologies are the two concerns ahead of the shrinking pool of security experts.
The goal of the survey was to measure the variety of pressures IT pros face regarding security.
The report, “2016 Security Pressures Report,” was commissioned by security firm Trustwave and surveyed 1,414 security decision-makers or security influencers.
They included CIOs, CISOs, CSOs, IT/IT security directors and IT/IT security managers worldwide.
More than 600 respondents were from the United States, 210 from Canada, 204 from the United Kingdom, 202 from Australia and 194 from Singapore. “The job hazards are unmistakable for those whose mission it is to identify, protect, detect and respond to digital harms,” says the report, “Studies have shown that high stress levels at work lead to less productive workers, and security professionals can ill-afford to disengage from their jobs.”
Link: http://paulgdavis.us3.list-manage.com/track/click?u=45bf3caf699abf9904ddc00e3&id=91da7b26d2&e=20056c7556
How to Suck at Information Security â A Cheat Sheet
This cheat sheet presents common information security mistakes, so you can avoid making them.
Yeah, the idea is that you should do the opposite of what it says below.
To print, use the one-sheet PDF version; you can also edit the Word version for you own needs.
Link: http://paulgdavis.us3.list-manage1.com/track/click?u=45bf3caf699abf9904ddc00e3&id=1337f51425&e=20056c7556
Free Online Tools for Looking up Potentially Malicious Websites
Several organizations offer free on-line tools for looking up a potentially malicious website.
Some of these tools provide historical information; others examine the URL in real time to identify threats…
Link: http://paulgdavis.us3.list-manage2.com/track/click?u=45bf3caf699abf9904ddc00e3&id=8c51bc0397&e=20056c7556
New insurance product focuses on prompt alerting of cyber risks
IronPro, the professional liability unit of Ironshore Inc., on Wednesday said it has launched a suite of enhanced risk management services for cyber policyholders.
IronPro will provide policyholders with cyber monitoring and alert services, working with Atlanta-based security firm BorderHawk L.L.C. to analyze cyber activity and detect questionable client events, New York-based Ironshore said in a statement.
Link: http://paulgdavis.us3.list-manage.com/track/click?u=45bf3caf699abf9904ddc00e3&id=a553cd9e47&e=20056c7556
============================================================
Feedback, questions? Our mailing address is: ** dailynews@paulgdavis.com (mailto:dailynews@paulgdavis.com)
If you know someone else who would be interested in this Newsalert, please forwarded this email.
If you want to be added to the distribution list, please click this: ** Subscribe to this list (http://paulgdavis.us3.list-manage.com/subscribe?u=45bf3caf699abf9904ddc00e3&id=e09452545a)
** Unsubscribe from this list (http://paulgdavis.us3.list-manage.com/unsubscribe?u=45bf3caf699abf9904ddc00e3&id=e09452545a&e=20056c7556&c=443fec88ca)
** Update subscription preferences (http://paulgdavis.us3.list-manage.com/profile?u=45bf3caf699abf9904ddc00e3&id=e09452545a&e=20056c7556)