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Industry News: ESG5

Why a Culture of Silence and Driving Mistakes Underground is Bad for Everyone

2021-06-02

ZDNet: Cybersecurity works best when people know that their corporate information security team will be sympathetic to mistakes. That's because, if someone suspects they may have clicked a phishing link or fallen victim to a cyberattack, they're much more likely to be open about it – and that helps the whole organisation stay secure against malicious hackers.

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Two-Thirds of Organizations Plan to Improve Their Cybersecurity in the Wake of Devastating Ransomware Attacks

2021-06-02

KnowBe4: With 81% of organizations believing ransomware attacks will become more prevalent in the second half of 2021, nearly everyone is preparing for the worst to come.

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Security Leaders More Concerned About Legal Settlements Than Regulatory Fines

2021-06-01

Help Net Security: An overwhelming 90% of security leaders are concerned about group legal settlements following a serious data breach, compared to 85% who are worried about regulatory fines, Egress reveals.

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As Online Fraudsters Flourish, Forter’s Valuation Triples to $3 Billion in Six Months

2021-05-25

Forbes: Fraud is not a new problem. Some historians trace it back to 300 B.C., when a Greek merchant named Hegestratos took out an insurance policy on his boat full of corn with the intent to sink it and collect the insurance money.

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Phishing, Ransomware, Web App Attacks Dominate Data Breaches in 2021, Says Verizon Business DBIR

2021-05-13

ZDNet: Web applications represented 39% of all data breaches in the last year with phishing attacks jumping 11% and ransomware up 6% from a year ago, according to the Verizon Business Data Breach Investigations Report.

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Security Chiefs Report Cyberattacks on Business Up Since Remote Work Enabled

2021-05-12

Yahoo Finance: A new report estimates nearly two-thirds of businesses globally, including 63 per cent in Canada, have seen an increase in targeted cyberattacks since they switched to widespread remote work.

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Covid, Cyber, Compliance and ESG Top Risk Concerns for Financial Services Sector, Says New Allianz Report

2021-05-06

Institutional Asset Manager: At the same time, the behaviour and culture of financial institutions is under growing scrutiny from a wide range of stakeholders in areas such as sustainability, employment practices, diversity and inclusion and executive pay.

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Do Cyberattacks Affect Stock Prices? It Depends on the Breach

2021-04-27

DarkReading: In the aftermath of a data breach, ransomware attack, or vulnerability disclosure, organizations may think about how the news will cause their stock price to dip. New research indicates that although security incidents do affect stock price, the size of this impact largely depends on the circumstances — and rarely lasts.

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Financial Institutions Have Become High-Value Targets for Cybercriminals

2021-04-14

Barron's: Over the past year, lockdowns complicated traditional crime groups’ ability to conduct conspiracies. As a result, many migrated to the dark web, a digital underground where cybercriminals can remain anonymous. This trend popularized a shadow industry of services that allow criminals to continue to partake in activities like extortion and money laundering. 

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Why Do Phishing Attacks Work? Blame the Humans, Not the Technology

2021-04-08

ZDNet: Phishing attacks remain a huge problem and crooks are spending a lot of time and effort to ensure that, for the potential victim, clicking on a bad link is the most intuitive and easiest thing to do.

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