There is a strong sense of “situation no change” as the 2020s began with three high-profile IT problems in the UK Financial Services Sector. Firstly, the on-line banking services and mobile apps for Lloyds, Halifax and Bank of Scotland (all part of the Lloyds Banking Group) were all disrupted on New Year’s Day. The disruption […]
The Information Commissioner’s Office (ICO) has today issued a notice of its intention to fine British Airways £183.39M for infringements of GDPR. The proposed record-breaking fine relates to a well-publicised cyber incident in 2018, wherein user traffic to the British Airways website was diverted to a fraudulent site. Personal data of approximately 500,000 customers were affected
Record Proposed Fine Announced for BA Following 2018 Data Breach Read More »
According to a recent report by Forrester Research, ransomware attacks on businesses are up 500% on last year! The report also states that many firms have felt obliged to pay ransoms, as attackers have become more sophisticated in targeting backups; indeed it states that paying a ransom can ‘be a valid recovery option based on
Our daily blog series for Business Continuity Awareness Week (BCAW) 2019 continues with an update on information security…. Based on information from four of the five recognised accreditation bodies (CREST, IASME, APMG and QG Management Systems), there has been another big increase in the number of organisations achieving certification under the UK Government’s Cyber Essentials and
BCAW Day 3 – Continuing Growth in Cyber Essentials Certifications Read More »
I don’t know how it happens, but you can usually rely on one or more big news stories during Business Continuity Awareness Week (BCAW); most spectacularly the Wannacry attack on the eve of BCAW 2017. This year, two days into BCAW, we have the announcement of the WhatsApp surveillance attack. Whilst, in some ways, the
A recent academic study by Daniele Bianchi and Onur Kemal Tosun analysed the market reaction to 41 deliberate (ie criminal) security breaches that occurred in large US firms between 2004 and 2016. The authors found that firms experiencing such a security breach experienced a loss in value of between 1 and 1.5% over a period
New Study Looks at the Cost of Security Breaches Read More »
Regular readers may remember that back in November 2016 we blogged about a cyber attack on Tesco Bank in which money was taken from 20 000 customers and all on-line banking was suspended. At the time, Tesco Bank were seen to have managed some aspects of the incident very well: the fraud was detected promptly
Tesco Bank Fined £16.4 Million for 2016 Cyber Attack Read More »
Building on her previous studies over the last twenty years, Deborah Pretty of Pentland Analytics has recently published new research looking at “Reputational Risk in the Cyber Age”. The study analyses a sample of 125 reputational risk events over the last ten years including: The Samsung Galaxy Note7 recall; The Volkswagen emissions scandal; and Cyber-attacks
New Research Looks at the Cost of Reputational Crises Read More »
The Information Commissioner’s Office (ICO) published its report for the year 2017/18 last month, containing a useful update on the prevalence of information security issues. Firstly, the ICO reported that the number of data protection concerns raised had risen to 21019 (up 15% from last year). In a similar pattern to last year, 32% of
ICO Reports Increase in Data Protection Concerns and Self-Reported Breaches Read More »
