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UK Law Firms’ Losses To Email Hacking Jumps By 40 Percent

As the costs of email hacking continue to rise, the percentage of UK law firms’ losses to cyber-fraud has jumped by 40 percent in the last year. Hazelwoods, a specialist in legal professions,chartered accountants and business advisers says that the value of funds lost from November 2015 to April 2016 amounted to £2.53 million, up…

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TeleChoice Forced To Compensate Customers Over 2014 Data Breach

Privacy Commissioner rules on complaints. Telstra wholesale provider TeleChoice has been ordered by the Privacy Commissioner to pay $7000 in compensation to two customers who were affected by its 2014 data breach. Privacy Commissioner Timothy Pilgrim today published his findings on two separate complaints made by customers in May and June last year after it…

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Symantec Scrambles To Patch Severe Holes In 26 Products

“As bad as it gets” flaws in enterprise, consumer security offerings. Symantec enterprise and Norton security product users are being urged to patch their applications immediately after multiple dangerous vulnerabilities were discovered. The security firm has advised that 17 enterprise security products and nine Norton consumer offerings are affected. Google Project Zero researcher Tavis Ormandy…

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Vic Govt Gets New Cyber Security Rules

Commissioner to shine a light on compliance. Victoria’s infosec and privacy watchdog has handed down a new set of cyber security rules that will force agency chiefs to attest to their compliance with minimum infosec standards each year. The plan – known as the Victorian protective data security framework (VPSDF) – comes two-and-a-half years after…

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Fine Firms For Cyber Security Failures

Companies should be fined if they fail to guard against cyber attacks, MPs have recommended in the wake of last year’s TalkTalk hack. The Culture, Media and Sport Select Committee inquiry made a number of recommendations, but stopped short of suggesting that criminal proceedings should apply to employees who fail to protect people’s data. The…

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Why Business Email Compromise Is The New Malware

Criminals are increasingly moving away from malware in favour of compromising business email to scam organisations out of money, security researchers are warning. Last month the FBI said social engineering had reaped attackers A$3 billion since October 2013, with over 17,000 business affected across 79 countries. Fraudsters are now taking the time to map the…

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Australia Not Spending Enough On Cyber Security

Country still lagging despite new strategy, UNSW experts say. The Australian government’s new cyber security strategy does not go far enough in either scope or spending to address the “pace and scale” of emerging threats to the country, according to two University of NSW cyber security professors. Professors Greg Austin and Jill Slay today published…

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How To Protect Yourself Against Social Engineering

According to the FBI, “business email compromise” is rapidly on the rise. Hardly surprising, given the low-risk, high-reward nature of this kind of crime. But coupled with the number of personal data records that have been purloined by criminals from healthcare providers, retail outlets and government departments over the past few years, the big question…

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Why The AFP Wants You To Know About “Drift Netting” Attacks

Coins new term for HR/payroll cyber crime. The Australian Federal Police has coined a new term for a specific type of phishing attack targeting human resources and payroll platforms, revealing a rise in successful “drift netting” attempts over the past year. Speaking to the Australian Cyber Security Centre conference in Canberra today, AFP cybercrime operations…

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FBI Says $3bn Lost To Fake CEO Phishing Scams

Tailored emails lead to wire transfer fraud. Businesses have lost billions of dollars to fast-growing scams where fraudsters impersonate company executives in emails that order staff to transfer to accounts controlled by criminals, according to the US Federal Bureau of Investigation. Losses from these scams, which are known as “business email compromise,” totalled more than…

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Revealed: Australia’s New Cyber Security Strategy

How the government plans to make the country a “cyber smart nation”. The federal government will lean heavily on the private sector to help it deliver its long-awaited national cyber security policy and initiatives like voluntary infosec health checks for businesses and joint threat sharing centres in capital cities. iTnews can exclusively reveal the policy,…

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Major Banks And Lenders Reported Data Breaches In The Past Two Years

All of the UK’s major banks and lenders have reported multiple data breach incidents to the Information Commissioner’s Office (ICO) in the past two years, according to the findings of a freedom of information (FOI) request submitted by encryption software provider Egress. The FOI response showed that Barclays, HSBC, Lloyds Banking Group, NatWest, Nationwide and…

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