This week in London, SecurityScorecard hosted a roundtable discussion on cyber risk in the insurance supply chain. Keynote speaker Santosh Pandit, head of Cybersecurity at the Bank of England, shared his insights with 20 London-based insurers on managing cyber risk in the financial sector and the latest regulatory initiatives that may impact the insurance industry.
New disclosures regarding the widespread exploitation of CVE-2023-34362, a new vulnerability affecting the MOVEit file transfer software, and the Cl0p ransomware group’s claim of responsibility for its widespread exploitation and the resulting data theft, have continued in the weeks since the vulnerability’s original publication.
The past few years have witnessed a rapid surge in the use of SaaS applications across various industries. But with this growth comes a significant challenge: managing security and assessing risk in application connectivity.
Modern applications are hugely dependent on open-source software. 80 percent of most organizations’ apps and code base is now open source, in some cases more. While this is great for swift development and innovation, it increases the possibility of vulnerabilities arising that bad actors can exploit, and it expands the potential attack surface.
As regulatory requirements continue to evolve and data breaches become more common, businesses are under increasing pressure to maintain compliance with industry standards. Compliance monitoring is a crucial aspect of this process, enabling organizations to identify and address potential risks before they lead to costly violations or incidents.
In the digital age, identity theft poses a pervasive threat that organizations, regardless of their size or sector, must relentlessly combat. This insidious form of cybercrime involves the malicious exploitation of sensitive and confidential data, carrying grave implications for any organization. The consequences of a single breach can encompass financial losses, irreparable damage to reputation, and the imposition of regulatory penalties.
Johns Hopkins is one of the leading teaching hospitals that serve approximately 500 medical students annually while caring for tens of thousands of patients. The facility has a total of 1091 beds and serves patients in primary care and trauma care, along with several specialties. The facility is located in Baltimore, Maryland, and because it serves so many students and patients, it stores a huge amount of personal and medical data. Some of that data was just released because of a breach.
While cryptocurrencies have been celebrated for their potential to revolutionize finance, their anonymous nature has also been exploited for illicit activities. From drug dealing and arms trafficking to funding terrorism, black market activities have thrived under the cloak of cryptocurrency's pseudonymity. According to a report by Chainalysis in 2023, around $21 billion in crypto transactions were linked to illegal activities.
