We’re only halfway through 2025, and there have already been over 12,000 publicly disclosed data breaches. From small brick-and-mortar businesses to multinational tech companies, it’s clear that no organization is immune to a cybersecurity incident. Preparation is key—and one increasingly vital part of shoring up against cyber-attacks is cyber insurance. In this article, we’ll explore […]
Data security news & resources
How is AI changing the role of the CISO in financial services?
For financial institutions, AI’s diverse skill sets hold the potential to yield significant benefits. From enriching employee and customer experiences to optimizing backend operations, this flourishing technology promises to boost efficiency, accuracy and much more. In fact, according to one study, AI-driven tools can empower banks to achieve a 2-5X increase in interaction and transaction […]
What is PCI DSS 4.0 and how does it impact banks’ data workflows?
PCI DSS is getting a long-awaited makeover and banking institutions need to take note. Sure, banks should be in a good stead to meet PCI compliance, given that they already have to contend with a range of strict data privacy regulations and auditing requirements, such as the GBLA, SOX and regular audits from the FDIC […]
Is insurance industry data safe in cloud apps?
In January of this year, the personal data of over 2 million Aflac life insurance and Zurich auto insurance policyholders ended up on the dark web. How? Because hackers used a contractor’s stolen credentials to break into a cloud server used for marketing purposes. The information stolen included policyholder names, ages, genders, insurance data, coverage […]
CFPB employee steals data of more than 250,000 consumers
The Consumer Financial Protection Bureau (CFPB) is in the hot seat this week after it came to light an employee forwarded the sensitive data of over 250,000 consumers to their personal email account. But this wasn’t just an isolated incident. The employee responsible exfiltrated sensitive information numerous times, sending over 60 emails to his personal […]
Can you afford Cyber Insurance as a small business in 2023?
If you’re looking to renew your cyber insurance for 2023, you may be shocked to find that next year’s cost is much higher than ever before. According to research, cyber insurance costs increased by an astonishing 102% during the first quarter of 2022. As a result of these steep price increases, analysts predict that the […]
Why does the $1.8B fine on US big banks make data loss prevention essential for all financial services firms?
This week, The U.S. Securities and Exchange Commission (SEC) hit more than a dozen banks with fines totaling almost $2 billion. The likes of Bank of America, Barclays, Morgan Stanley and more must pay $125 million each to the SEC for improper use of messaging apps, collaboration tools and other unauthorized services for communication, without […]
The risks of unstructured data in financial services
Data is less structured and more distributed than before. People need new tools to prevent sensitive data exposure in this new SaaS reality.
What is NIST framework?
The technology industry is still technically in its infancy. Every year, it seems that innovation hurls forwards in leaps and bounds. At the same time, the cyber security risks that organizations face are constantly evolving too. Because everything is, well, so new, there’s a lack of standards and rules out there for mitigating cyber risk – […]
Data security challenges posed by Slack & Teams for financial services
As the financial services (FS) sector embraces new ways of working and digital transformation, communication tools like Slack and Teams are helping employees to find new efficiencies and better collaborate with partners, customers and clients. Platforms like Slack and Teams are highly versatile–and they are constantly adding new functionality that makes them more appealing to […]
Why is data loss prevention failing financial services?
For an industry as highly regulated as financial services, these stats may surprise you: Why isn’t data protection working for financial services? So, what gives? It’s not that financial institutions aren’t investing in cyber security. According to a survey of 571 community banks in 37 states conducted by the Conference of State Bank Supervisors, more […]