Tag: cyber crime

CIO: The Cybercrime Economy Personified

Staff Writer

While the Center for Strategic & International Studies and McAfee estimated the annual cost to the global economy from cybercrime at $375 billion conservatively and $575 billion maximally as of June 2014, at least one expert stands by cost figures that are many times those numbers. “U.S. companies and the U.S. economy lose approximately $500 billion each year to theft of trade secrets and innovation. This includes all forms of economic espionage where cybercrime plays a major factor. When you factor the 10-year life of the investment in innovation, the…

Read More

Business spotlight on cybercrime

Staff Writer

In the wake of the Sony email hacking case, business expert Rachel Bridge looks at cybercrime and how you can protect your business. Online cybercrime is not just the stuff of sci-fi movies and urban myth. It is very real and it can pose a huge threat to your business. What’s more, contrary to what many people think, cybercrime is just as likely to affect small firms as large ones. Indeed, a survey by the Federation of Small Businesses (FSB) found that over a 12-month period, 41 per cent of…

Read More

Banks in Russia, Japan, the US, and Europe have fallen victim to a massive, sophisticated malware hack

Staff Writer

Hackers rob US and global banks of millions in one of the largest heists ever writes Kwame Opam on the Verge Banks in Russia, Japan, the US, and Europe have fallen victim to a massive, sophisticated malware hack, allowing the perpetrators to steal hundreds of millions of dollars since 2013. According to a Kaspersky Labs report provided to the New York Times, more than 100 banks in 30 nations have been affected by the breach, with upwards of $300 million stolen in the process. One of the largest bank heists ever…

Read More

France, Germany Seek Help From Tech Firms in Policing Terrorism Online

Staff Writer

Officials Expect Companies Like Twitter, Facebook, Google to Pre-Emptively Remove Content on Terrorism Online LILLE, France—France and Germany demanded that U.S. tech companies help them police terrorism on the Internet, escalating European efforts to wrangle more law-enforcement help from Silicon Valley. Top law-enforcement officials from the two countries said on Tuesday they expect U.S. Internet and social-networking companies like Twitter Inc., Facebook Inc. and Google Inc. to pre-emptively remove terror content from their services—or face new laws aimed at forcing them to do so in order to fight Terrorism Online.…

Read More

Obama Wants Firms to Notify of Data Breach Within 30 Days

Staff Writer

The Proposal Complemented a Series of Data Privacy Related Rules Suggested by the White House Today. President Barack Obama wants companies to notify consumers within 30-days of a personal data breach. Despite a slew of pressing issues facing the administration and a potentially unsympathetic Republican-led congress, the White House today unveiled a handful of legislative proposals aimed at safeguarding consumer privacy, continuing along a path established by its privacy and big data report published in May. The administration’s Personal Data Notification and Protection Act is being pitched in part as…

Read More

Businesses neglect Internet security to protect reputation

Compulynx

VietNamNet Bridge – Most Vietnamese companies are negligent when it comes to protecting their information on the Internet, VNCERT director Vu Quoc Khanh told Kinh Te & Do Thi (Economic and Urban Affairs) newspaper. Why do businesses attacked by hackers often hesitate to publicise information about the attacks? Recent attacks, especially the incident involving VC Corp’s websites, show that any organisation or business can be a potential target for hackers. However, most businesses prefer not to say anything about such attacks to protect their reputation. They only start asking for…

Read More

Cyber Crime a big cost for small businesses

Staff Writer

NEW YORK (AP) — It’s not just big businesses like JPMorgan Chase, Target and Home Depot that get hacked. Small companies suffer from intrusions into their computer systems, too. The costs associated with computer and website attacks can run well into the thousands and even millions of dollars for a small company. Many small businesses have been attacked — 44%, according to a 2013 survey by the National Small Business Association, an advocacy group. Those companies had costs averaging $8,700. JPMorgan Chase (JPM) said the attack on its computer servers…

Read More

Following celebrity hacks, here’s how to secure your iCloud account

Staff Writer

Though Apple says it’s investigating a reported hack on the iCloud accounts of several celebrities, there is an easy way for users to secure their accounts. Over the weekend, reports emerged that a number of celebrities had their iCloud accounts compromised by unknown hackers, and personal photos leaked onto the internet. Apple says it is “actively investigating” the situation. The exact details of the hack are unknown, but some security researchers believe Apple left iCloud vulnerable to a brute force password hacking attempt. Basically, hackers could use a piece of…

Read More

NEW YORK: Target sent victims to Experian, which leaked data to criminals

Staff Writer

Companies can’t keep your data safe. It’s that simple. When Target lost data on some 110 million customers, it recommended them to credit bureau Experian for “identity theft protection,” offering to cover the cost for a year. Think you’re in better hands? Think again. Sometime before the Target (TGT) hack, Experian had its own data leak — via a subsidiary. It unknowingly sold the personal data of millions of Americans — including Social Security numbers — to a fraudster in Vietnam. That guy then sold the personal information to identity…

Read More

Historic eBay password database hack, Change your password!

eBay revealed that attackers “compromised a database containing encrypted passwords and other non-financial data” between late February and early March. The database included names, e-mail addresses, home addresses, phone numbers, and dates of birth. While there is “no evidence of the compromise resulting in unauthorized activity for eBay users,” the company is recommending that users change their passwords. The attackers were able to log in to eBay employee accounts.”Cyberattackers compromised a small number of employee log-in credentials, allowing unauthorized access to eBay’s corporate network,” the eBay announcement said. “Working with law…

Read More