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October 2016

It’s hardly earth-shattering news, but a recent speech at the SWIFT Sibos conference, in Geneva, has highlighted this point and underlined it. With cyber attacks against financial institutions on the increase by more than 40% in the last year, it seems that some still haven’t got the message: cybercriminals are attracted to money, like wasps to picnics. However, in addition to increasing the frequency of their attacks, it appears that cybercriminals are also evolving the methods they use.Read More

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According to a study undertaken by leading research consultancy, ComRes, 70% of company directors believe that companies should face severe financial penalties, if they fail to adequately protect customers’ data. These statistics come in the wake of Yahoo revealing details of a hack, which has the dubious honour of being the biggest ever on a major company. Although the hack, which compromised over 500 million accounts took place in 2014, it has only recently been discovered.Read More

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A hacking collective, calling themselves ‘The Dark Overlord’, is in the process of trying to extort money from the WestPark Capital investment bank, in California. In a world where the more ‘traditional’ method is to simply use ransomware to charge monies for the release of data, The Dark Overlord seems to be taking a more unusual stance. Instead of using ransomware to achieve their aims, the hackers are instead threatening to release data files belonging to the bank, online, unless a ransom is paid.Read More

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