Cybercriminals have different motivations to hack into protected systems, from taking bank information to sell in underground markets to stealing intellectual property to make another nation more competitive in the global market. Hackers can also be driven to infiltrate companies for political purposes. Recently, hackers targeted several financial institutions and major banking companies, causing a data breach of customer information, including at JPMorgan Chase, Bloomberg reported.
Politically Charged Cyberattacks
However, the main reason for the attacks may not have just been about money. The U.S. Federal Bureau of Investigation is looking into the attacks with sources close to the investigation saying the attackers may have originated in Eastern Europe, with a focus on Russia.
One of the reasons why the FBI is concentrating on Russia in its investigation of the breach is due to the rise in attacks from hackers in Russia and Eastern Europe…
While companies can spend millions on their IT security systems to prevent cyberattacks and other common security risks, they may be fighting a losing battle if their worst enemy already has the password and unrestricted access to their systems. While detecting breaches and other security events from external causes are difficult to detect, tracking insider attacks might be an even bigger obstacle. A new report about insider threats in organizations brings to light the challenge of controlling for security risks that are due to malicious intentions or mistakes.
The majority of businesses in the U.S., Latin America and Europe said they did not have the means to fend off an insider threat, according to a survey by IT security firm SpectorSoft. Even worse, 59 percent of IT professionals said their employers did not have the ability to find threats that lurk within their company.
With the wealth of…
Nowadays, you don’t have to be a large corporation to attract the wrath of hackers. Limousine companies, escrow firms, and even hay-compressing companies have become the target of cyber attacks in recent years. According to an article in PCWorld, 20 percent of small businesses are victims of cyber crime each year, and of those, some 60 percent go out of business within six months after an attack.
Fortunately, there are actions that companies of all sizes can take to help keep their information systems safe. In February, I wrote about what I call the “Three I’s” of computer virus protection: Install, Inform, and Insure. The first “I” is for installing antivirus software (AVS), and the last “I” is for insuring your company. Today, though, is just about the second “I”—which stands for informing staff.
In the aftermath of the Heartbleed Bug's discovery, the security flaw continues to spark security concerns. The Heartbleed Bug was revealed in many of the world's most popular sites in April, and Internet users were shocked at its scope. From retail sites to social networks, it seemed as though no Internet giant was immune to the problems of the Heartbleed Bug, which affects site encryption and security technology Secure Sockets Layer (SSL). Companies urged users to change their passwords, saying the vulnerability may compromise personal and financial information.
"Our security teams worked quickly on a fix and we have no evidence of any accounts being harmed," social media site Instagram said in a statement, according to Mashable. "But because this event impacted many services across the Web, we recommend you update your password on Instagram and other sites, particularly if you use the same password on…
More British organizations are likely to experience security breaches—and the costs are going up, according to a survey from the Department for Business Innovation and Skills. Learn more in this handy infographic that reveals five key takeaways for businesses.
With cyber-related threats increasing as criminals find new ways to infiltrate computer and mobile systems, businesses and consumers might find themselves vulnerable to the rippling economic impact of cyberattacks. A company on average spent $3.5 million to respond to a data breach – a rise of 15 percent compared to the previous year, according to a 2014 report by Ponemon Institute.
Not only are businesses facing costs related to downtime and repairing their systems after a breach, but they also might be named the defendant in class action lawsuits. The basis of these lawsuits is often claims of financial loss because data breaches could lead to identity theft.
In addition to consumer-driven lawsuits, businesses that work with other corporations that experienced a data breach could sue for revenue losses associated with data breaches and other cybercriminal activity.
Recently, a Tennessee industrial maintenance and construction firm filed a lawsuit against TriSummit Bank for…
As more Americans become conscious about their health and strive to achieve fitness goals, they may choose to buy wearable activity monitors that collect information about their heart rate, steps taken and more. While many consumers consider these devices to be a lifesaver when it comes to tracking their achievements, others are concerned about lack of privacy protection.
Since activity monitors gather data related to consumer personal information, such as age, weight, diet and even location, third parties may be seeking out this same data, according to Consumer Reports. From insurance providers to data brokers, these companies are likely to use this data for marketing and business purposes.
The value of the global wearable devices market, which includes heart rate and activity monitors, is projected to increase to $5.8 billion by 2019, according to market research firm ResearchMoz. Activity monitors will be especially in demand…
Identity theft can wreak havoc on a person’s life—impacting their finances, health and good standing in the community. This growing crime poses an even greater threat for military personnel who require security clearance to do their jobs.
Security clearance gives military personnel, as well as civilians working for the government or contractors, access to classified information. But to earn it, they must undergo a rigorous review of their employment history, medical history, criminal record and finances to ensure a company’s or the government’s security.
Even for a celebrity death, the worldwide response to Robin Williams’ passing has been remarkable. Within minutes on Monday, news of the comedian’s death was dominating trending topics on Twitter and filling up Facebook news feeds. Unfortunately, that makes it a tremendous opportunity for scam artists and computer virus writers, who never fail to take advantage of major news events for nefarious purposes.
After tragedies such as the earthquake in Haiti, fake charities emerge almost instantly. That’s unlikely to happen here. Instead, celebrity deaths generally send people, understandably, searching for answers. Those can come in the form of last words, last pictures or an alleged suicide note. Williams did in fact send out a Tweet and Instagram message recently, a birthday wish to his daughter.
However, there are already generic warnings about some of the more sensational ways these scammers…
With the risk of data breaches plaguing the health care sector, participants at the Black Hat conference for cybersecurity professionals discussed the struggles associated with protecting medical devices, according to Infosecurity Magazine. Medical devices present a unique challenge for IT security teams because the definition of this technology is very broad and the protections used to protect information for other sectors of the economy often do not apply to medical devices.
The U.S. Department of Health and Human Services (HHS) said the No. 1 source of security issues in 2012 were laptops, with 27 percent of all breaches, according to the Annual Report to Congress on Breaches of Unsecured Protected Health Information. Portable devices accounted for 9 percent of data breaches in 2012, down from 13 percent the previous year. Although incidents involving portable technology like medical devices might be declining, the danger…