Remove Cyber Risk Remove Financial Services Remove Ransomware
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Cybersecurity Snapshot: WEF Offers AI Security Best Practices, as DORA Regulation Places Strict Cyber Rules on Banks

Security Boulevard

Plus, the EUs DORA cyber rules for banks go into effect. And get the latest on ransomware trends; CIS Benchmarks; and data privacy. Are we clear on who must be involved in assessing and mitigating AI adoption cyber risks? Check out tips for adopting AI securely from the World Economic Forum.

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NYDFS Cybersecurity Regulation: Dates, Facts and Requirements

Centraleyes

If you’re part of the financial services ecosystem hereor interact with businesses regulated by the New York State Department of Financial Servicesyouve likely come across the NYDFS Cybersecurity Regulation. Risk assessments must now include scenario-based testing, ensuring organizations can respond to real-world threats.

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The Hidden Risk in Enterprise Security: Are Big Firms Too Reliant on the Wrong Providers?

Jane Frankland

Customised Security, Not a Generic Playbook Smaller firms tailor security strategies to the unique risks of each client, rather than applying prepackaged security frameworks. For example: A financial services firm faces vastly different cyber threats than a healthcare provider—yet many large security firms offer identical solutions to both.

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How Data Visualization Helps Prevent Cyber Attacks

Centraleyes

Lets explore some notable use cases: Incident Response: A multinational company faced a ransomware attack that encrypted a portion of its servers. Supply Chain Risk Monitoring: A financial services firm tracked vendor vulnerabilities through a visualization platform, flagging suppliers with outdated software.

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Moody’s to Include Cyber Risk in Credit Ratings

Adam Levin

The American business and financial services company Moody’s will start factoring risk of getting hacked into their credit ratings for companies. The move is seen as part of a wider initiative to gauge the risk of cyberattacks and data breaches to companies and their investors. “We’ve Read more about the story here.

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CyberSecurity Is Not Enough: Businesses Must Insure Against Cyber Losses

Joseph Steinberg

And even relatively rich organizations may fail altogether if they suffer the reputational harm that follows multiple serious cyber-incidents. Not only are they not protected against their own losses, but many have zero liability protection in the event that they somehow become a hacker’s catalyst for inflicting cyber-damage on others.

Insurance 364
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How security pros, the insurance industry, and regulators can combat ransomware

SC Magazine

Today’s columnist, Erin Kennealy of Guidewire Software, offers ways for security pros, the insurance industry and government regulators to come together so insurance companies can continue to offer insurance for ransomware. Insurance claims from cyber/ransomware events have consumed up to 40% of the claims of some insurers’ cyber books.

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