The requirement for financial services businesses to maintain real-time connection to the global economy impairs security precautions, said a new report.
According to a new report from Barclays, 47% of the world’s credit card fraud happens in the United States, even though Americans only account for 24% of the total credit card volume.
For a long time now, people (employees, users) have been touted as ‘the weakest link’ because of the tendency to make mistakes or try to bypass cumbersome processes, with no malicious or criminal intent in mind,” says Anthony Lim, Senior Cybersecurity Advisor, Asia Pacific, for Frost & Sullivan and Vice-Chair for (ISC)2 Application Security Advisor Council.
In the 2015 Anthem data breach, the compromise of an adminstrator’s credentials was the initial entry point that caused the breach and exposure of 13.5 million patient records. High-profile, high-impact breaches like this are spurring healthcare enterprises to institute more cybersecurity defenses and to monitor the insider threat.
Your company may think it has adequate insurance coverage for a network breach, but there’s a good chance that it does not. According to the findings of a recent UK government report, over half of the companies surveyed thought they had the right coverage in place, while only 10 percent actually did. Another sizable group of those surveyed responded that they had no idea which of the many cyber risks facing their company even could be insured.
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