When you stop to think about the businesses who have been hacked in recent years, there have been some quite big names under the spotlight. Organisations such as Sony and Ashley Madison are good examples of recent scandals. These companies, although working on digital platforms, were subject to some quite serious breaches that have severely affected the way they are able to operate. The reason why is simple; lack of security as a result of lack of knowledge. But although ‘Digital’ businesses, surely the same thing couldn’t happen to a company as technology leading and digitally savvy as Google. Could it? Read more
The Insider Threat is a growing concern among businesses. The idea that an attack, be it vicious or unintentional, can come from an internal source is frightening. Organisations put a lot of trust in their employees, and quite rightly too, but when it comes to digital security it pays to be slightly more vigilant. Many larger companies are beginning to see the value in software that monitors their employees’ actions, logging the data so that if and when disaster strikes it can be traced back to the party at fault. Unfortunately, this is very much locking the door after the horse has bolted. Luckily, there is a preventative measure available. Read more
Irish fund boards are putting plans in place to ensure they can deal with both internal and external cyber security breaches.
Following the publication of the best industry practices last year, boards have taken several measures to make sure they can manage and mitigate the risk of cyber attacks.
In September 2015 the Central Bank of Ireland sent a letter to the fund industry, issuing guidance on cyber security policies and governance.
A digital security risk that appears to be becoming more prominent in the mainstream media is ransomware. Stories are beginning to surface more and more frequently, both highlighting the sheer volume of attacks and also focussing on the more targeted examples of hospitals and schools who have been left helpless. As the name suggests, Ransomware is a form of malware that encrypts your data so that it becomes unreadable, and then proceeds to extort money from you to receive a code that unlocks it. Traditional blackmail revolutionised for a digital age. Read more
The issue of phishing is widespread. As a process, this form of cybercrime attempts to acquire private information from an individual via email correspondence. The criminal who sends the email pretends to be from a reputable source and asks for a username, password or even credit card details to be shared. The sender will seem trustworthy, the request a fair one. Once these details, or even the money itself is delivered, you have given access to someone who really shouldn’t have it, and your system or accounts will be breached. Read more