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American insurance giant Aflac has disclosed a new data breach after attackers breached its Japan subsidiary's systems and stole personal and bank account information of 4.38 million customers. [...]
An On Demand video from ID DatawebScattered Spider continues to evolve, and organizations across financial services, healthcare, insurance, telecommunications, and other sectors are strengthening defenses against increasingly sophisticated identity-driven threats.
Stryker Has Said It Doesn't Carry Cyber insuranceStryker notified regulators that its March cyberattack will impact the medtech maker's first quarter financial results. The company also does not appear to have a cyber insurance policy in place to help cover costs associated with the disruptive incident claimed by Iranian hackers.
Wanna know a secret? Whether you're logging into your bank, health insurance, or even your email, most services today do not live by passwords alone. Now commonplace, multifactor authentication (MFA) requires users to enter a second or third proof of identity. However, not all forms of MFA are created equal, and the one-time passwords orgs send to your phone have holes so big you could drive a truck through them.…
European Startup Acquisition Aims to Unify Technical and Financial Cyber InsightsThe acquisition of Intangic enhances Searchlight Cyber's ability to quantify and price cyber risk by leveraging AI and dark web intelligence. The combined platform will offer actionable third-party risk data for CISOs, CFOs and insurance providers to better understand and manage cyber exposure.
Security budgets are lowest in healthcare, professional and business services, retail, and hospitality, but budget growth remained above 5% in financial services, insurance, and tech.
Attackers Stole US Customer Data Using Social EngineeringA malicious actor breached a customer relationship management platform used by Allianz Life Insurance of North America on July 16 and stole personally identifiable information of most of its 1.4 million U.S. customers, financial professionals and some employees, the company said.
Taking advantage of the ridiculously complex US healthcare billing system Criminals masquerading as insurers are tricking patients and healthcare providers into handing over medical records and bank account information via emails and text messages, according to the FBI.…
Voice Analytics Firm to Expand Footprint in Finance, Defense and InsuranceClearspeed will use its $60 million raise to build out teams and technology as it scales its AI-powered voice screening platform across finance, insurance and security sectors. CEO Alex Martin said the firm aims to double revenue and push into conservative sectors seeking AI-powered trust solutions.
Russian companies have been targeted as part of a large-scale phishing campaign that's designed to deliver a known malware called DarkWatchman
Identity verification, insurance claims, and financial services are all seeing surges in AI-enabled fraud, but organizations are taking advantage of AI systems to fight fire with fire.
Landmark Admin Compromise Affects More Than a Dozen Insurance and Annuity CarriersLandmark Admin, a third-party vendor that provides administrative services to life insurance and annuity companies, said 1.6 million people are potentially affected by 2024 ransomware and data exfiltration incidents that compromised a wide range of personal, financial and health information.
At-Bay Cyber Insurance Claims Report Finds 83% of Financial Fraud Starts With EmailFinancial fraud remains the leading driver of cyberinsurance claims, with 83% of cases traced back to email-based attacks. Common tactics used to deceive employees include wiring funds to fraudulent accounts, generative AI-crafted emails, executive and vendor impersonation and BEC scams.
Elliott of Zurich Insurance on Why Business Leaders Need Quantifiable Cyber RisksMany compliance programs rely on vague risk scores and dashboards. These don't always help business leaders make decisions. Dan Elliott, head of cyber resiliency, Zurich Resilience Solutions, ANZ, at Zurich Insurance, said organizations should frame compliance through financial metrics.
Data from Resilience found that third-party attacks made up 23% of material cyber insurance claims in 2024, with ransomware attacks targeting vendors a major driver
A new tax-themed malware campaign targeting insurance and finance sectors has been observed leveraging GitHub links in phishing email messages as a way to bypass security measures and deliver Remcos RAT, indicating that the method is gaining traction among threat actors
The dangerous ransomware group is targeting financial and insurance sectors using smishing and vishing against IT service desk administrators, cybersecurity teams, and other employees with top-level privileges.
New EU Rules Focus on Operational Resilience, Breach Reporting and Third-Party RiskThe Digital Operational Resilience Act aims to reshape the financial services industry by introducing strict cybersecurity standards. Financial institutions must comply with the new rules by Jan. 17, 2025, or face severe penalties, said Richard Breavington, head of cyber and tech insurance at RPC.
Insurance Giant Says Hackers Stole Data of 2.5 Million IndividualsA February ransomware attack against Prudential Financial affected 2.5 million customers, the financial giant disclosed after initially calculating the totally as 36,000. In an emailed statement, Prudential said the tally shouldn't increase a second time.
InfoSys McCamish Systems Earlier Alerted 57,000 Bank of America Clients of BreachInfosys McCamish Systems, an insurance software product and services vendor, is notifying nearly 6.1 million people of a 2023 ransomware incident that potentially comprised their sensitive data, including Social Security numbers, medical treatment, and financial and biometric information.