Security

Perfecto appoints investor Jim Moran, to executive chairman role

Perfecto said Moran’s focus will be to accelerate the company’s growth in quality assurance services. Moran was previously the managing director at North Bridge Venture, a venture capital firm, and Growth Equity Partners, an independent private equity company which invests in growing UK SMEs. Moran supervised investments in early-stage companies, including Paydiant, the cloud-based financial »

Equifax’s Historic Hack May Have Exposed Almost Half of U.S.

Equifax’s Historic Hack May Have Exposed Almost Half of U.S.

Hackers exploited a website application to access names, addresses, Social Security numbers and some driver’s license numbers of potentially 143 million consumers, Equifax said Thursday in a statement. The incident — which drove down shares in after-hours trading — is a stark reminder of the risk of consumers’ personal data being exposed online, security experts »

Hackers breach 400,000 UniCredit bank accounts for data

The attack occurred in September and October of 2016 and June and July of this year, according to an emailed statement from the bank on Wednesday. UniCredit only discovered the breaches this week, two people familiar with the matter said, asking not to be identified discussing a possible criminal matter. Cyberattacks on corporations and banks »

Global Cyber Attack Could Cost $121.4 Billion, Lloyd’s Estimates

Average losses from a scenario where an attack would cause a widely-used cloud-service provider to fail would be $53 billion, depending on organisations involved and the length of the data storage disruption, Lloyd’s said in the report. Insurers could face total claims in that scenario ranging from $620 million to $8.1 billion, according to the »

Symantec to Buy LifeLock for $2.3 Billion to Add ID Security

The offer for LifeLock values its shares at $24 apiece, according to a Business Wire statement. The offer is 16 percent above Friday’s closing price. The Tempe, Arizona-based company was pursued by bidders including private equity firms Permira, TPG and Evergreen Coast Capital, the new buyout arm of hedge fund Elliott Management, according to people familiar with the matter, »

Banks Normally at Odds Build Joint Force to Fight Cybercrime

But Oerting, with no small dose of grudging admiration, says his adversaries excel at something that can’t be addressed with deep pockets or killer software: They’re superb networkers. “The organized crime groups in cyber are sharing much better than we are at the moment,” says Oerting, a Dane with a square jaw and the watchful »

How OakNorth Bank became the first bank in the UK to move to the cloud and why they did it

Much of the banking headlines over the last few years have been dominated by news of customers being unable to access their accounts online, make transfers or withdraw cash, and one of the sources of these issues has been the legacy IT the banks are burdened with. In addition to wanting to avoid these time-consuming »

NCC Group accredited by CBEST for threat intelligence

Manchester-based cyber security firm, NCC Group, has received CBEST accreditation to provide threat intelligence for financial firms. CBEST is the Bank of England’s shared framework for testing the vulnerability of major financial firms to cyber attacks. According to CBEST guidelines, financial firms hire threat intelligence providers to gather and analyse information on potential threats and »

Trade bodies criticise SEC’s plan for consolidated audit trail

The US Securities and Exchange Commission’s plans for its consolidated audit trail (CAT) for securities markets — which the SEC wants up and running in 2017 — have been criticised in comment letters from two leading trade associations. Described as “the largest financial IT project of all time”, the idea of a the giant data repository for »

IBM Blockchain supports testing feature

IBM has released a new testing functionality on IBM Blockchain; the service delivered via IBM’s Bluemix platform providing tools for Blockchain developers. IBM Blockchain was first launched on April 29th, and is based on the Linux Foundation’s open-source Hyperledger project. Rashik Parmar, lead cloud advisor for Europe at IBM, said that IBM Blockchain allows firms »

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