The Infosec Institute says that malicious cyber activity cost the US between $24 billion and $120 billion and worldwide that number was $300 billion to $1 trillion (see here). And that was in 2013! For investment professionals (and other businesses as well), poor cyber security practices which lead to being hacked can cause a complete […]
Continue reading → [DISPLAY_ACURAX_ICONS]The Russian security firm Kaspersky Labs reported last week that they had found a dark web marketplace selling access to servers – possibly yours and mine – for as little as $6 and as much as $6,000. The key benefit of these servers is that since they are not actually the hacker’s servers, if they are able […]
Continue reading → [DISPLAY_ACURAX_ICONS]Carbonite: Carbonite sent out an email to all customers to reset their passwords. They claim that they have not been hacked but that they are seeing a large number of attempts to log in by third parties. They say that based on their security review, they have no evidence that they have been hacked. If […]
Continue reading → [DISPLAY_ACURAX_ICONS]I have written several times about the fight between Cottage Health System and Columbia Casualty, a division of CNA Insurance. In 2013 Cottage’s systems were breached and the private information of thousands of patients was publicly disclosed. Their insurance company paid $4.125 million for costs related to the breach, including a class action lawsuit. That […]
Continue reading → [DISPLAY_ACURAX_ICONS]There is a lot of attention focused on digital currency and the potential it represents – maybe too much attention. In May I wrote about the Bitcoin exchange Gatecoin, that was hacked to the tune of $2 million. This week hackers made off with with $50 million in another virtual currency, Ether, but this time […]
Continue reading → [DISPLAY_ACURAX_ICONS]P.F. Chang’s restaurant chain suffered a cyber breach in which about 60,000 credit cards were stolen. The breach only affected 33 of the company’s approximately 400 restaurants, so it could have been much worse, even though it lasted 8 months. Still, the restaurant spent about $1.7 million recovering from the breach. If the breach hit […]
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