One in three cyber attacks in banks are successful

 

The Security attacks continue to rise and impose a threat to financial institution due to of course the online platforms banks conduct business. Attack include, phishing, malware DOS, and penetration.

According to Accenture,”Of these attacks, one third (36%) were successful, that is, at least some information was obtained through the breach. It took 59% of banks several months to detect the breaches. Besides, 48% of respondents cited internal breaches as having the greatest cyber-security impact and 52% indicated a lack of confidence in their organisation’s ability to detect a breach through internal monitoring” .

Its obvious the banks are vulnerable to attackers and need a way to tackle the challenge faced.

 

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Cyber-Warfare is reshaping war globally

Russian attack of the U.S. election as well as regular theft of corporate information including Google by the Chinese cyber-theft groups and America’s own cyber attacks on Iranian  and North Korean nuclear programs, have proven cyber warfare is the real face of war against governments around the world.

Everyone is exposed, stolen, and attacked through cyber attacks by state sponsored attacks and individual with ambition to carry out their mission.

The World is getting connected and information sharing is crucial to adversaries fighting for more. More countries are engaged in cyber attack and their dirty secrets are exposed along the way thus raised political debate around the world.

Source: http://www.huffingtonpost.com/entry/weekend-roundup-163_us_58de6a82e4b0e6ac709451b3?utm_hp_ref=cyber-security

CitiGroup a Venture Capital company has invested in a Cryptography company called Dyadic

Dyadic is a software company that helps companies manage their cryptographic keys, a long string of numbers required to encrypt private information.

Dyadic’s solution effectively splits each key into two and allows them to be stored in different places – one half on a company server and the other on a mobile phone, for example, or one half in the cloud and the other in a data center.

This way, even if a hacker somehow obtained the part of the key stored in the cloud, it couldn’t use it to decrypt information without finding its pair.

 

Source: http://digiday.com/marketing/citis-latest-cybersecurity-bet-veers-usual-model/

Are Cyber Insurance companies for real?

I mean is it really possible to provide Insurance in the Cyber World, where sometimes its too late to stop an attack that may spread in the IT infrastructure.

I understand there is a market for big companies data protection but how about the nature of the attack and how fast can Insurance companies provide assist for the companies

There are a lot of questions to be asked here but let just say they are for real then what ?, can they reverse the attack or maybe resume companies to normal operations with no data loss or breach? I don’t think so.

 

Source: http://www.jpost.com/Business-and-Innovation/Tech/Israeli-firm-to-offer-unprecedented-cyber-insurance-485796

 

Is Your Country Prepared for Cyber Attacks?

Not all countries are equal when it comes to cyber security. Many are do not have enough resource allocated to handle cyber attacks, while others are better equipped but more frequently targeted.

Some countries boast free and open internet, while others impose strict censorship systems that block access to the web and punish citizens for what they post.

Because so much data is now stored online, we’re constantly exposed to a number of dangers including ransom-ware, identity theft, malware and cyber attacks.

Here is info-graphic to show countries with highest readiness, highly targeted and much more.

Source: http://monetarywatch.com/2017/03/countries-least-prepared-cyber-attacks/

IT Security Employment hits record High

U.S. Labor Department Bureau of Labor Statistics recently published data showing record high as Information Security Analysts takes off.

The cyber-security industry is growing and created a whole new demand for the citizens to secure well paying jobs in the industry.

I think students will be delighted to see the increase and the job growth the industry is experiencing.

 

Source: http://www.bankinfosecurity.com/security-employment-soars-to-record-high-a-9642

Ransomware may soon infect IoT; self-driving cars, smart homes.

Consider this, you are locked out of your house in a freezing cold weather or maybe driving a smart-car that is hijacked in the middle of 5 line traffic. To what danger can it be to have these items hijacked or locked out- for the purpose of making profit.

Let’s hope consumers roll-back in these devices and millions of dollars are lost in the event of security vulnerabilities. Of course, we are now aware of the massive manufacturing of self-driving cars and home automation devices made available daily in the market.

Source: http://www.tomsguide.com/us/iot-ransomware-attacks,news-24505.html