The $1 million penalty that the SEC imposed on Morgan Stanley for its failure to prevent a former employee from compromising 730,000 client accounts is too low to send a strong message to financial services firms about the need for stronger cybersecurity and internal fraud controls, security experts say.
For its next move since jettisoning storage firm Veritas and becoming a pure-play security vendor, Symantec plans to buy network and cloud security firm Blue Coat from private-equity owners Bain Capital for $4.65 billion, gaining a new CEO in the process.
The Retail Industry Leaders Association is battling against passage of a national data security and breach notification bill known as the Data Security Act of 2015, arguing it would unreasonably require retailers to meet some of the same security standards as banks, says Austen Jensen, a RILA vice president.
Yet another organization has acknowledged it opted to pay cyberattackers after its systems were infected with ransomware, the file-encrypting malware that has become one of the most dreaded menaces across the internet.
In the latest ISMG Security Report, our editors examine the top concerns of security practitioners gathered at Infosecurity Europe, NIST's planned revision of its cybersecurity framework and U.S. government efforts to make sure patients can securely access their electronic health records.
While awaiting new guidance from the HHS Office for Civil Rights, healthcare organizations can take several steps to help determine whether a ransomware attack is a reportable breach under HIPAA, says compliance attorney Betsy Hodge.
A federal watchdog agency will investigate whether government monitoring of medical device security controls is adequate, it announced in an update of its priorities for the rest of this year. In a separate report, it raised serious concerns about the security of the Washington state Obamacare insurance exchange.
More than 32.8 million Twitter credentials have been compromised and are being offered for sale on the dark web, claims LeakedSource, a subscription-based breach notification service. But some security experts question whether the credentials are current and authentic.
Researchers at RiskAnalytics have watched a botnet of compromised computers in the Ukraine and Russia become a growing hive of criminal activity, playing a role in everything from ransomware and click fraud to spam bots and stolen payment card marketplaces.
Dropbox is keeping a close eye on the latest news reports of big-name, big-data breaches, but says the reported hackers are bluffing when claiming to have compromised and obtained the web storage service's data.
Now that both the FBI and the FFIEC have issued alerts calling attention to the risks associated with interbank messaging and wholesale payments in the wake of SWIFT-related heists, U.S. institutions should brace for more regulatory scrutiny of bank-to-bank payments, financial fraud experts say.
Cybercrime continues to be incredibly lucrative. Yet many of the techniques being wielded by connected criminals aren't new, said security expert Mikko Hypponen of F-Secure in a keynote speech at this week's Infosec Europe conference in London.
Akamai warns of a rash of less sophisticated attempts to extort companies by threatening to strike with distributed denial-of-service attacks, which can be expensive for organizations to defend against.
Cybercrime alert: In March, 93 percent of all phishing emails studied contained ransomware designed to forcibly encrypt PCs, says PhishMe chief operating officer Jim Hansen. In an interview, he offers insights on how to respond.