News That Matters

Tag: cyber

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...
PSNI hired cyber firm to unmask Twitter critics

PSNI hired cyber firm to unmask Twitter critics

Technology
The Police Service of Northern Ireland hired a private cybersecurity firm to investigate alleged Twitter accounts of officers mocking senior management.An internal investigation was launched a year ago after the PSNI's chief constable George Hamilton was criticised online for comments he had made to a junior officer on social media.Mr Hamilton told the officer to stop "wallowing in self pity" and "dry your eyes" after the officer raised concerns about the increasing pressures of the job.Following the exchange, a number of Twitter users criticised Mr Hamilton and posted anonymous complaints about the job and criticisms of PSNI management. The chief constable subsequently apologised to the officer.The PSNI brought in a private security firm to identify who was behind those accounts, many of ...
Bail of $30,000 set for UK cyber expert Marcus Hutchins

Bail of $30,000 set for UK cyber expert Marcus Hutchins

Technology
US prosecutors say a British computer expert has admitted to creating software that harvests bank details. But Marcus Hutchins' own lawyer says he denies six charges of creating and distributing the Kronos malware.The 23-year-old from Ilfracombe, Devon, who helped stall the WannaCry cyber-attack which hit the NHS, was arrested on Wednesday in Las Vegas. He was granted $ 30,000 (£23,000) bail, but will spend the weekend in prison after not being able to pay on Friday. As he left the courtroom Mr Hutchins was ordered to walk with his hands behind his back but he was not shackled.No members of his family were present, but defence lawyer Adrian Lobo presented the judge with a bundle of letters.She said they were from friends and relatives showing support for a client who had never been in trou
Worried about online fraud? Make sure your financial advisor is ready for a cyber attack

Worried about online fraud? Make sure your financial advisor is ready for a cyber attack

Finance
Cyber theft is the fastest-growing crime in the U.S., and cost the global economy more than $ 450 billion in 2016, with more than 2 billion person records stolen.By 2021, cyber crime damage costs could hit $ 6 trillion annually, according to Ernst & Young's 2016-17 Global Information Security Survey.And companies are experiencing larger breaches, reported IBM. The average size of data breaches increased 1.8 percent in 2017 to more than 24,000 records, according to its 2017 cost of data breach study.Financial advisors are increasingly aware of this threat, with 81 percent saying cybersecurity is a high priority. Yet, just 29 percent say they are "fully prepared to manage and mitigate the risks associated with cybersecurity," according to a study released last September by the Financial ...