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Almost half of cyber crime attacks are committed against small businesses.

Most attacks are not reported to gardaí.

This is despite the fact that cyber attacks are now seen as the fastest-growing crime, according to research compiled by Cork-based Apex Insurance, which offers firms cyber insurance.

https://www.independent.ie/business/dublin-information-sec/cyber-security-half-of-all-attacks-are-against-small-businesses-and-most-not-reported-to-gardai-37007405.html

Restaurant chain Chili's is the latest retailer to report a data breach involving point of sale (PoS) security.

Brinker International, which operates over 1,600 Chili's restaurants globally, announced the data breach on May 12, after becoming aware of the security incident the day before. The company did not reveal how many customers have been impacted by the breach, though it did state that payment card information was stolen over a two-month period.

http://www.eweek.com/security/chili-s-discloses-data-breach-exposing-payment-card-information

 

Deloitte plans to spend $580m on its own cyber security defences over the next three years as pressure increases on the ‘big four’ accounting firms to fend off attacks that could jeopardise client data.

Deloitte, which suffered a high-profile cyber breach last year that affected a small number of its clients, has significantly increased its spending on this area from “several years ago”, when it spent about $50m a year.

https://www.ft.com/content/535cf6f8-4f8b-11e8-a7a9-37318e776bab

A data breach at a customer services provider with a name that looks like a misprint, [24]7.ai, may have exposed the data of thousands of Sears department store and Delta Air Lines customers last fall, the companies disclosed this week.

https://www.usatoday.com/story/money/2018/04/05/data-breach-service-provider-hits-thousands-sears-delta-customers/490089002/

 

In today’s market, no growing business can isolate itself from online communications and commerce. Yet avoiding the internet entirely is the only way to guarantee your company will not be exposed to cyber threats. Once a business is online it will always be exposed to some residual risk it cannot feasibly address in a disaster recovery plan, business continuity plan, or through an information security technology solution.

https://www.csoonline.com/article/3265453/data-protection/cyber-insurance-data-breach-business-interruption-and-beyond.html

 

Public records disclosed by North Carolina officials show thousands of potential data breaches reported to the state in 2018 – and it’s only March.

As of earlier this week, the state of North Carolina had already received reports of 217 data breaches, potentially impacting more than 280,000 North Carolinians.

https://www.bizjournals.com/triangle/news/2018/03/23/10-biggest-n-c-data-breaches-reported-in-2018.html

 

A spokesman says Atlanta's airport has taken down its Wi-Fi network and disabled parts of its website "out of an abundance of caution" following a ransomware cyberattack on the city's computer network.

https://www.cnbc.com/2018/03/23/atlanta-airport-takes-precautions-after-a-cyberattack-on-the-city.html

Business interruption (BI) and cyber incidents interlink as the major threat for companies globally in 2018, according to the insight of 1,911 risk experts from 80 countries in the Allianz Risk Barometer 2018. However, for marine and shipping companies, natural catastrophes (34 percent), including storm, floods and earthquakes, takes the top spot – up from number four in 2017. BI tied with cyber incidents (31 percent), for the second spot followed by theft/fraud/corruption (27 percent) and fire/explosion (25 percent) to round out the top five business risks in the maritime sector for 2018. These incidents illustrate the complex nature of insurance risks as most are closely intertwined in complex loss cases.

https://www.maritimeprofessional.com/news/natural-catastrophes-dominate-2018-marine-314521

Financial institutions, government agencies and key industrial sectors of the economy in the country should prepare for a massive exploration of Cyber crimes as 2018 unfolds.

According to the director of Cloud strategy at giant technology firm Microsoft Rudiger Dorn, the year is likely to see an increase in phishing- where hackers obtain account details of employees or individuals through credit cards and banking details to commit a Cyber crime.

https://www.the-star.co.ke/news/2018/03/02/tech-giants-warn-local-firms-of-increased-cyber-attacks_c1723092

The recently released Allianz Risk Barometer ranked the top business risks for 2018, based on the views of more than 1,900 risk management experts globally. Here, we look at the top three identified business risk for Australia and discuss how they can be effectively managed.

https://www.lexology.com/library/detail.aspx?g=46fecdd5-f513-490a-b722-be5250ebafec

Many businesses today have an online presence, involving assets such as company websites, blogs and social media accounts. However, these companies are also vulnerable to hackers looking to find valuable data, such as Social Security numbers and customer names, addresses and phone numbers.

https://incyberdefense.com/featured/cyber-insurance-covers-buy/

The workers compensation industry should anticipate and be prepared for data breaches, experts say.

Workers comp insurers should know “it’s not a matter of if they will be breached, it’s more likely a matter of when they will be breached,” said Patrick Fowler, a Phoenix-based partner and cyber security and privacy practice co-chair at Snell & Wilmer L.L.P. “The bad guys are getting more and more sophisticated and any form of cyber security always has a human element that is dependent on people following certain steps and procedures.”

http://www.businessinsurance.com/article/20180117/NEWS08/912318550/Data-breaches-workers-compensation-insurers-inevitable-preparedness-key

Three-quarters of senior level treasury and finance executives say cyber security risks have surfaced at their companies because of the increased use of new technologies, according to a survey issued Wednesday.http://www.businessinsurance.com/article/20180124/NEWS06/912318705/Cyber-security-risks-rise-adoption-new-technology-Marsh-McLennan-survey?utm_campaign=BI20180124BreakingNewsAlert&utm_medium=email&utm_source=ActiveCampaign

Reuters) — Security researchers on Wednesday disclosed a set of security flaws that they said could let hackers steal sensitive information from nearly every modern computing device containing chips from Intel Corp., Advanced Micro Devices Inc. and ARM Holdings.http://www.businessinsurance.com/article/20180104/NEWS06/912318282/Intel-ARM-Advanced-Micro-Devices-chip-security-flaws-phones-computers-risk

 

 

While major breaches where millions of records are compromised tend to dominate the news, a much more dangerous and insidious threat goes largely unnoticed — that of the insider. https://hbr.org/2017/12/the-most-common-ways-you-could-get-tricked-into-compromising-company-data?utm_campaign=hbr&utm_source=linkedin&utm_medium=social

 

 

(Reuters) — SWIFT, the global messaging system used to move trillions of dollars each day, warned banks on Wednesday that the threat of digital heists is on the rise as hackers use increasingly sophisticated tools and techniques to launch new attacks.http://www.businessinsurance.com/article/20171129/NEWS06/912317516/SWIFT-warns-banks-over-cyber-heists-as-hack-sophistication-grows

 

 

(Reuters) — Struggling ride-hailing firm Uber Technologies Inc. faces a fresh regulatory crackdown after disclosing it paid hackers $100,000 to keep secret a massive breach last year that exposed personal data from around 57 million accounts.http://www.businessinsurance.com/article/20171122/NEWS06/912317418/Uber-faces-scrutiny-from-regulators-in-US-UK-over-breach-of-57-million-accounts

 

Do you think your small business is at risk of being hacked? An overwhelming 87% of small business owners don’t think so. But, your business might be at risk more than you realize. About half of small businesses experience a cyber attack.https://www.forbes.com/sites/mikekappel/2017/11/08/5-ways-to-improve-your-small-business-cybersecurity/#22d3f7241f6f

(Reuters) — The Trump administration on Wednesday publicly released its rules for deciding whether to disclose cyber security flaws or keep them secret in an effort to bring more transparency to a process that has long been cloaked in mystery.http://www.businessinsurance.com/article/20171115/NEWS06/912317279/Trump-administration-releases-rules-on-disclosing-cyber-flaws

(Reuters) — Up to 180 million smartphone owners are at risk of having some of their text messages and calls intercepted by hackers because of a simple coding error in at least 685 mobile apps, cyber security firm Appthority Inc. warned Thursday.http://www.businessinsurance.com/article/20171109/NEWS06/912317174/Mobile-app-errors-expose-data-180-million-phones-Appthority-security-firm?utm_campaign=BI20171109BreakingNewsAlert&utm_medium=email&utm_source=ActiveCampaign

ATLANTA — Cyber coverage continues to evolve as the focus on types of perils changes, according to a panel of insurance industry experts speaking Thursday morning at the 30th annual Professional Liability Underwriters Society Conference in Atlanta.http://www.businessinsurance.com/article/20171102/NEWS06/912316989/Cyber-coverage-focuses-on-business-interruption-as-triggers-evolve-PLUS-conferen

 

 

Unfortunately, small businesses are sorely mistaken about their attraction to cyber attackers. A recent study (Ponemon Institute 2016 State of SMB Cybersecurity) found that in the last 12 months, hackers have breached half of all small businesses in the U.S.http://detroit.cbslocal.com/2017/10/24/small-businesses-risk-cybersecurity-attacks/

 

3D printing is on the verge of mainstream adoption, which will mean a fundamental shift in manufacturing. The driving force is not improvements to the technology, although those are also important, but rather a transformation in the industry’s business model.https://hbr.org/2017/10/3d-printing-gives-hackers-entirely-new-ways-to-wreak-havoc?utm_campaign=hbr&utm_source=linkedin&utm_medium=social

 

 

(Reuters) — The U.S government issued a rare public warning that sophisticated hackers are targeting energy and industrial firms, the latest sign that cyber attacks present an increasing threat to the power industry and other public infrastructure.http://www.businessinsurance.com/article/20171023/NEWS06/912316709/US-warns-public-about-attacks-on-energy,-industrial-firms

 

 

The protection of personally identifiable information held on behalf of customers and suppliers continues to be a major source of concern. But for many companies, particularly in the manufacturing sector, the operational risks of a malicious intrusion are at least as great.http://www.canadianmetalworking.com/article/management/cyber-risks-not-if-but-when

 

 

Yahoo’s been through it. So has the Democratic National Committee. More recently, it was Equifax. But it’s not just large businesses and organizations that are targeted by hackers. In fact, 1 in 5 small businesses has been targeted by a cyberattack, according to a study published Thursday by the Better Business Bureau.http://www.chicagotribune.com/business/ct-biz-better-business-bureau-small-business-cybersecurity-report-20171012-story.html

 

 

Business interruption risks remain top of mind for risk experts and cyber is quickly climbing up the list, but innovative product and data solutions are providing protection against a wider range of threats and perils and extending insurance coverage from tangible to intangible assets, according to a new report by Swiss Re Institute.http://www.businessinsurance.com/article/20171011/NEWS06/912316469/Coverage-innovations-tackle-evolving-risks-Swiss-Re-report-

 

NEW YORK — The growing business role of the internet, the mounting exposures this brings and ways to manage and mitigate these new threats topped the agenda at a meeting of cyber experts which coincided with the start of National Cyber Security Awareness Month.http://www.businessinsurance.com/article/20171010/NEWS06/912316402/Cyber-awareness-campaign-aims-to-highlight-growing-exposures?utm_campaign=BI20171010BreakingNewsAlert&utm_medium=email&utm_source=ActiveCampaign

 

(Reuters) — Insurer Tryg expects 90 percent of its corporate customers to buy cyber crime insurance within five years as the threat from hackers and viruses to crucial data and IT systems grows.http://www.businessinsurance.com/article/20171004/NEWS06/912316309/Rising-hacker-threat-will-trigger-boom-in-cyber-crime-insurance-Tryg?utm_campaign=BI20171004BreakingNewsAlert&utm_medium=email&utm_source=ActiveCampaign

 

 

Today Yahoo sent out a notice disclosing that a further investigation of the  2013 breach has produced new evidence. The company now believes that all of its three billion accounts were impacted, not 1 billion as it previously thought.https://techcrunch.com/2017/10/03/yahoo-says-all-3b-accounts-were-impacted-by-2013-breach-not-1b-as-thought/

 

(Reuters) — Property Claim Services (PCS), a Verisk Analytics company, estimated an insured loss of $125 million from a massive data breach disclosed last month by Equifax Inc., that has plunged the credit-monitoring company into crisis.http://www.businessinsurance.com/article/20171002/NEWS06/912316241/Equifax-data-breach-to-cost-insurers-$125-million-Lloyds-Beazley?utm_campaign=BI20171002BreakingNewsAlert&utm_medium=email&utm_source=ActiveCampaign

 

 

More than half of U.S. businesses have experienced a cyber attack in the past year, according to a survey of executives released by Hartford Steam Boiler Inspection & Insurance Co. on Thursday.http://www.businessinsurance.com/article/20170928/NEWS06/912316166/Over-half-of-US-businesses-have-been-hacked-Hartford-Steam-Boiler-survey?utm_campaign=BI20170928DailyBriefing&utm_medium=email&utm_source=ActiveCampaign

 

The Securities and Exchange Commission, the country’s top Wall Street regulator, announced Wednesday that hackers breached its system for storing documents filed by publicly traded companies last year, potentially accessing data that allowed the intruders to make an illegal profit.https://www.washingtonpost.com/news/business/wp/2017/09/20/sec-reveals-it-was-hacked-information-may-have-been-used-for-illegal-stock-trades/?utm_term=.9a675f5cd94a

 

 

Travelers who check into hotels may run into some uninvited guests in the form of hackers looking to steal their financial information, analysts warn.http://www.businessinsurance.com/article/20170919/NEWS06/912315920/Hotel-industry-fights-constant-hacker-exposures-Wi-Fi-payment-cards?utm_campaign=BI20170919BreakingNewsAlert&utm_medium=email&utm_source=ActiveCampaign

 

We are happy to announce a new partnership with CyberScoutTM, a leading provider of identity and data breach defense services, for our Allied Reinsurance Company (ARC) program, which reduces the risks related to cyber crime for our clients. Captive carriers accounted for about half of the personal lines market in 2016 and according to a 2016 survey by the Captive Insurance Companies Association (CICA), cyber risk is the number one emerging risk cited by captive insurance company owners and the number one non-traditional risk.http://mailchi.mp/b4be79c8df73/new-partnership-with-cyberscout?e=0f58a45b50

 

 

(Reuters) -Banks are increasingly turning to insurance to protect their capital from "operational risks" like cyber attacks and rogue traders, and insurers say they can help safeguard lenders by providing an extra layer of expertise.http://www.businessinsurance.com/article/20170830/NEWS06/912315509/Insurers-see-more-demand-from-banks-for-cover-against-cyber-attacks-rogue-staff?utm_campaign=BI20170830DailyBriefing&utm_medium=email&utm_source=ActiveCampaign

 

 

(Reuters) - A U.S. judge said Yahoo must face nationwide litigation brought on behalf of well over 1 billion users who said their personal information was compromised in three massive data breaches.https://www.reuters.com/article/us-verizon-yahoo-breach/yahoo-must-face-litigation-by-data-breach-victims-u-s-judge-idUSKCN1BB25Q

 

During a July 26, 2017 hearing before the U.S. House of Representatives Small Business Committee, Chairman Rep. Steve Chabot (R-Oh.) stated that cyber threats have become a critical concern for the country’s 28 million small businesses, with the Justice Department recording nearly 300,000 cybersecurity complaints in 2016 alone.http://www.cutimes.com/2017/07/28/us-house-talks-cyber-insurance-threats-business-r?page=1&slreturn=1504021261

 

BURLINGTON, Vt. — Covering cyber risk in a captive insurer is not for every company, but it’s an option that every captive owner should explore, according to experts. http://www.businessinsurance.com/article/20170811/NEWS06/912315127/Captive-insurers-seen-as-viable-option-for-covering-cyber-risk?utm_campaign=BI20170811BreakingNewsAlert&utm_medium=email&utm_source=ActiveCampaign

 

Protecting trade secrets has become more challenging in the cyber age, analysts say, and the loss of trade secrets can cause serious — sometimes permanent — damage to a company.http://www.businessinsurance.com/article/20170808/NEWS06/912315014/Trade-secret-risks-a-challenge-in-evolving-cyber-age?utm_campaign=BI20170808RiskManagement&utm_medium=email&utm_source=ActiveCampaign

 

A federal appeals court has reinstated a putative class action lawsuit filed by health insurer CareFirst Inc. customers in connection with a 2014 data breach, holding their potential risk of injury from the breach is “substantial.”http://www.businessinsurance.com/article/20170801/NEWS06/912314862/Data-breach-class-action-against-health-insurer-CareFirst-reinstated

 

Law360, Los Angeles (August 2, 2017, 10:17 PM EDT) -- A Michigan federal judge ruled Tuesday that Travelers doesn't have to cover a tool manufacturer's losses from an email-based theft scheme, giving insurers more ammunition to argue that computer fraud insurance doesn't apply to multistep scams and deepening a divide among the nation's courts on the scope of such policies.https://www.law360.com/insurance/articles/950528/travelers-win-deepens-divide-over-computer-fraud-coverage?nl_pk=d0a96663-dfd2-44eb-80db-7e18d6ac47b9&utm_source=newsletter&utm_medium=email&utm_campaign=insurance

 

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In the neonatal intensive care unit of Cook Children's Hospital in Fort Worth, Texas, a father is rocking a baby attached to a heart monitor. http://www.npr.org/sections/health-shots/2017/07/26/539290596/hospitals-face-growing-cybersecurity-threats

In the neonatal intensive care unit of Cook Children's Hospital in Fort Worth, Texas, a father is rocking a baby attached to a heart monitor. http://www.npr.org/sections/health-shots/2017/07/26/539290596/hospitals-face-growing-cybersecurity-threats

The WannaCry worm is still alive. Honda said this week that it was forced to halt production for one day at its Sayama plant near Tokyo after finding the WannaCry ransomware in its computer network. https://www.forbes.com/sites/peterlyon/2017/06/22/cyber-attack-at-honda-stops-production-after-wannacry-worm-strikes/#6fc68b195e2b

The recent “WannaCry” cyberattack affected hundreds of thousands of computers around the world. The attack targeted organizations of every type, including hospitals, government agencies, and corporations, freezing computers and locking out users until they paid a “ransom” to release their data. http://www.cobizmag.com/Trends/Ransomware-is-on-the-rise-What-is-it-and-how-to-protect-your-company/

The United States again confronts the grim challenge of managing technological advances and their implications for warfare (as it has several times since, from chemical weapons to missiles to drones). Today, cyberweapons are nearly as synonymous with military power as fighter jets. What’s more, as demonstrated by the recent New York Times report on the cyberattacks used to disrupt North Korean ballistic missile tests and the latest WikiLeaks claims about a CIA hacking unit, cyber capabilities are too tempting for governments to refrain from using — even in peacetime. http://www.vox.com/the-big-idea/2017/3/27/15052422/cyber-war-diplomacy-russia-us-wikileaks

New documents from WikiLeaks point to an apparent CIA program to hack Apple's iPhones and Mac computers using techniques that users couldn't disable by resetting their devices. Security experts say the exploits are plausible, but suggest they pose little threat to typical users. They say that many of the tricks are older — the iPhone hack involves the 3G model from 2008, for instance. The techniques also typically require physical access to devices, something the CIA would use only for targeted individuals, not a broader population. http://abcnews.go.com/Technology/wireStory/wikileaks-cia-hacks-apple-devices-persist-46331776

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