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 […]

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 […]

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 […]

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 […]