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Tag: cyber

MoD hit by dozens of cyber security breaches

MoD hit by dozens of cyber security breaches

Technology
Ministry of Defence secrets were exposed in dozens of breaches of military cyber security policy last year, as hostile nations and spy agencies continue to probe the UK's defence sector. Heavily redacted reports obtained by Sky News have revealed that the MoD and its partners failed to protect military and defence data in 37 incidents in 2017.At the time, warnings issued by the MoD and National Cyber Security Centre mentioned a Chinese espionage group known as APT10 hacking IT suppliers to target military and intelligence information.Although espionage is considered an "acceptable" state behaviour and not a reasonable pretext for a forceful response, the theft of military secrets remains a serious threat to national security.The reports of breaches of British military infor...
Tesco Bank fined £16.4m over cyber attack

Tesco Bank fined £16.4m over cyber attack

Technology
Tesco Bank has been fined £16.4m by the City watchdog over a "largely avoidable" cyber attack on the lender, in the first penalty of its kind. The Financial Conduct Authority (FCA) said deficiencies at the bank had left account holders vulnerable to an incident that netted cyber criminals £2.26m.The bank had received a specific warning that was not properly addressed until the attack had started and the response was "too little, too late", the watchdog concluded.It is the first time the FCA has issued a fine for a cyber-related incident.Tesco Bank said that since the incident in November 2016 it had "significantly enhanced" security measures, and apologised to customers.The FCA investigation concluded that the lender failed to exercise due skill, care and dilige...
BAE launches cyber security intelligence network

BAE launches cyber security intelligence network

Technology
BAE Systems has launched a new industry forum and lobbying group called The Intelligence Network to address increases in cyber attacks. In April, the UK's National Cyber Security Centre and NCA warned that criminals were launching more online attacks against British businesses than ever before.Attempts to tackle this by the biggest companies have included sharing intelligence on the attackers' methods, but this has been blighted by insufficient data-sharing occurring on an ad-hoc basis.Speaking in London on Monday, James Hatch, the director of cyber services for BAE Applied Intelligence, acknowledged that collaboration between companies wasn't working well enough.In a new report by BAE, with contributions from Vodafone, think-tank RUSI, startup accelerator CyLon and others,...
This 'old-fashioned' identity theft is just as dangerous as the cyber kind

This 'old-fashioned' identity theft is just as dangerous as the cyber kind

Finance
Hackers aren't your only risk when it comes to identity theft and fraud. Data breaches and hacks like those at Equifax, the IRS and Yahoo! tend to dominate the conversation — and no wonder. Breaches hit a record high in 2017, with 1,579 reported incidents exposing nearly 179 million records, according to the Identity Theft Resource Center, which helps consumers dealing with identity theft and fraud. But in recent years, a little more than half of thefts of consumers' personally identifying information were classified as "non-digital," meaning they didn't involve — or at least, didn't start with — the thief e...
Aadhaar sitting duck for cyber criminals, says RBI-backed research

Aadhaar sitting duck for cyber criminals, says RBI-backed research

Finance
After a newspaper report claimed breach in Aadhaar database and that access to crucial info was available for an amount as little as Rs 500, concerns over the security of personal data have heightened. While the report could not be independently verified, even if the database cannot be breached, the worry is not unfounded. A study by a think tank affiliated with the Reserve Bank of India (RBI) too suggests that. A staff paper published by the Institute for Development and Research in Banking Technology has flagged serious safety issues. The paper, which attempts to trace the adoption of biometrics in India by the banks and the Unique Identification Authority of India (UIDAI), also studies costs and benefits of Aadhaar. "Aadhaar faces a number of challenges over the short and l...