Target will pay $18.5 million to 47 states and the District of Columbia as part of a settlement with state attorney generals over a huge security breach that compromised the data of millions of customers. The settlement ends a year long investigation into how hackers obtained names, credit card numbers and other information about tens […]
Rising Tide Of Cyber Attacks On Financial Institutions
Banks, investment companies, and insurers are prime targets for cybercriminals looking to steal money or information, disrupt operations, destroy critical infrastructure, or otherwise compromise data-rich financial services institutions (FSIs). Indeed, FSIs lead the pack in terms of the average cost of cybercrime incurred by companies in a particular industry, counting both internal activities and external […]
Global Ransomware (WannaCrypt) Attack
In the last couple of weeks, a new form of ransomware known as WannaCrypt (or WannaCry) has crippled thousands of computers and locked up essential services including hospitals in Britain, FedEx in the US and Telefonica in Spain. Using the long-established strategy of encrypting a computer’s contents and then demanding a payment for the decryption […]
$20bn Cyber Attack Threat
Cyber breaches in major cities could cost the Australian economy up to $US16 billion ($20.9 billion), according to a study by Lloyd’s and Cambridge University. Sydney alone has $US4.86 billion ($6.36 billion) of GDP at risk from cyber attack for 2015-2025, ranking it 12th among the world’s 301 major cities, the research shows. Lloyd’s says […]
Small Business: A Cyber Crime Target
In its Internet Cyber Security Report for 2016, US computer security giant Symantec warns that it is small businesses that are increasingly bearing the brunt of cybercrime worldwide. “In the last five years, we have observed a steady increase in attacks targeting businesses with less than 250 employees, with 43 percent of all attacks targeted at small […]
How Resilient Is Your Organisation To Cyber Attack?
High profile cyber attacks in 2016 – Census and the Bureau of Meteorology are two examples – have company directors scrambling to tighten up their IT security strategies. Many are now wondering if their cyber resilience policies and procedures are effective enough in a global environment where attacks are more complex than ever. Directors also […]
7 Key Things For Business Insurance
Australia’s more than two million small businesses make an enormous contribution to our communities and are the backbone of our economy. Yet, according to a MetLife study almost half (47 per cent) of small business owners are exposing themselves, their families and employees to the financial impact of illness, injury or even death through lack […]
Managing Cashflow In Your Business
Cash flow cripples more small businesses in this country than any other cause. Negotiating the right payment terms with customers and suppliers is key to avoiding cash flow disasters. Setting your payment terms up front with your customers—and knowing the payment terms of your own suppliers—means you can tackle cash flow head on from the […]
Prevent Fraud in Your Small Business
If you are a small business which has not experienced a fraud, you are in a lucky minority and the numbers suggest you could be next. That’s the message from Curtin Business School following research that found that one in eight Australian small businesses had been targeted by scammers and had spent up to 100 […]
It’s Not Just Cyber Criminals Who Will Compromise Your Valua
It may be a cliché but it can’t be said enough: where security breaches are concerned, it’s not if but when. Breaches are splashed across the front pages of the news on an almost daily basis, with some of the world’s biggest companies falling victim. But the story behind these latest breaches to hit the […]
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