20 Oct

Firms Cannot Afford to Ignore the Dangers of Cyber Security Non-Compliance

In this contributor article, David Copland, Vice President at Duff & Phelps’ Kinetic Partners division, discusses cyber security and whether financial firms are acting fast enough to defend themselves from potential attacks.

The cyber security regulations and guidelines promoted by the Securities and Futures Commission (SFC) of Hong Kong and the U.S. Securities and Exchange Commission (SEC) so far seem to have had only a minor effect on the activity of banks, asset managers and hedge funds, as all are yet to actively address the issue. Indeed, a study conducted by Risk Based Security, a leading information technology solutions provider, revealed that there were 904 million records exposed and 1,922 data breaches reported within the first nine months of 2014. This figure has since grown, and several high-profile breaches at companies including Sony and Target

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http://www.financemagnates.com/fintech/bloggers/firms-cannot-afford-to-ignore-the-dangers-of-cyber-security-non-compliance/

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20 Oct

Using Captive Insurance Companies To Address Cyber Security Risks

Cyber security due to a multitude of data breaches is a major concern of companies and one that is going to become increasingly significant. Corporate data from customer information to intellectual property can all be stolen to the extreme detriment of a company.

Given the potential losses due to cyber breaches, captive insurance companies can be very powerful risk management tools. “Putting resources into prevention is a necessity. Nevertheless, companies are going to suffer losses when they are hacked, and all the cyber security measures available are not going to stop all the technologically sophisticated criminals. In these situations, cyber insurance is regularly extremely useful in enabling companies to respond and mitigate their financial exposure,” explains Joseph McNulty, a partner at FFO Business Management & Family Office an international authority on captive insurance companies. “The objective of the insurance is to help businesses quickly address the breach, restore operations, and deal with all the often diverse financial costs. Captive insurance companies can fill a very important role when it comes to cyber insurance. Risks that are currently not insured or underinsured can be addressed by using a captive. There is also the possibility of getting highly customized coverage and lower pricing.”

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http://www.forbes.com/sites/russalanprince/2015/09/28/using-captive-insurance-companies-to-address-cyber-security-risks/

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20 Oct

3 Network Vulnerabilities to Prepare for…NOW

With data breaches of all varieties constantly in the news these days, it’s hard to miss the fact that the threat of a network security breach has never been more immediate, and the consequences have never been more serious. The sheer amount of personal data stored on networks—from financial records to healthcare information to personal emails—means that, more than ever, networks are targets for those with nefarious intentions.

Hackers are always working on new ways to subvert technological solutions and outsmart trained employees, taking advantage of end-user error and lack of awareness in order to gain access to and exploit private information. But the security industry works to stay one step ahead. In keeping with that, the time is now to make yourself aware of the following potential network vulnerabilities. Data breaches are too costly for customers, both in financial terms and in terms of reputation, for you to wait.

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http://www.ingrammicroadvisor.com/security/3-network-vulnerabilities-to-prepare-for…now?utm_campaign=Security&utm_content=21936450&utm_medium=social&utm_source=linkedin

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20 Oct

The Rise of Endpoint Threat Detection and Response (ETDR) – How Vulnerable is your IT Infrastructure?

As security breaches are becoming almost commonplace in the finance, retail, healthcare, and entertainment industries, many CISOs are asking the question: How vulnerable is myIT infrastructure?

With large enterprises that have been victims of security breaches making news headlines every day, we can agree that traditional signature-based endpoint protection solutions are no longer sufficient to protect against increasing advanced persistent threats (APTs) and Zero-Day attacks. How can CISOs reinforce their security measures? The answer lies in implementing IT analytics solutions that can detect abnormal activity and behavior in enterprise IT environments that can leverage a combination of real-time visibility and historical data, to generate alerts and reduce the impact of an attack before it spreads.

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http://www.informationsecuritybuzz.com/the-rise-of-endpoint-threat-detection-and-response-etdr-how-vulnerable-is-your-it-infrastructure/

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