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Fed chairman warns of cyberattack risks to US financial system

“Jim Himes, D-Conn., who asked him at a House Financial Services Committee hearing what threats to the financial system might be going unnoticed” writes Graeme Jennings for washingtonexaminer.com. Cyberattacks are the top underappreciated risk to the U.S. financial system, and Congress should do much more to prepare for attacks on banks, Federal Reserve Chairman Jerome Powell warned Congress on Wednesday. Otherwise, he said, more predictable risks to the financial system are moderate, although some assets, such as commercial real estate, are high. “I wouldn’t use the ‘bubble’ word here, but…

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Canada Finance Department Assesses Cyberattack Risk

“Internal documents seen by reporters revealed concerns of a cyberattack that the Finance Department did not disclose publicly” reports pymnts.com. Internal analysis at Canada’s federal Department of Finance is warning of the risk of a cyberattack that could have significant effects on the entity, reports in The Globe and Mail said on Wednesday (July 11).The document, prepared in February for Deputy Finance Minister Paul Rochon, includes a list of seven key risks ranked in terms of significance.The document also issued a strategy to mitigate these risks, an initiative that includes…

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Equifax admits passport numbers were stolen in cyberattack

“Equifax, the credit bureau regrouping after hackers compromised personal data for nearly half the U.S. population, says closer study shows passport numbers were among the information taken” writes Mike Stewart Ap for washingtonexaminer.com. One, reflected in some bills already, is simply allowing consumers more latitude to dictate how their credit histories are used. Another is requiring bureaus to purge data sooner than the existing seven-year limit, and the third is empowering individuals to remove all performance data from the credit bureau’s record.The finding doesn’t change the total number of people…

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Russia preparing to mount cyber-attack on Britain’s ‘critical infrastructure’, GCHQ and FBI warn

“Russia is preparing to mount cyber attacks on Britain’s “critical infrastructure” including energy networks, the emergency services and the armed forces, GCHQ and the FBI have warned in the wake of the Syria air strikes” writes Penny Mordaunt for telegraph.co.uk. In an extraordinary joint statement, authorities in the US and the UK revealed that Russia has been probing the cyber-defences to identify vulnerabilities that will “lay a foundation for future offensive operations”.The National Cyber Security Centre, the FBI and the Department for Homeland Security in the US have warned that…

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FTC says Uber agreed to expand settlement related to 2016 hack; Uber must retain bug bounty reports, could face civil penalties for future disclosure failures

“The company said it had no evidence of fraud tied to the data breach” writes David Shepardson for reuters.com. The FTC said the expansion of the proposed settlement comes after the commission learned Uber had failed to disclose a “significant” breach of consumer data that occurred in 2016 affecting nearly 50 million U.S. riders and compels Uber to disclosure future incidents.In November 2017, Uber Chief Executive Officer Dara Khosrowshahi disclosed the data breach that affected 57 million people around the world and said the two individuals who led the response…

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Delta says cyberattack may have exposed ‘several hundred thousand’ customers’ data

“Delta Air Lines said a cyberattack on a contractor potentially exposed the payment information of “several hundred thousand customers.”” writes Michael Sasso for sun-sentinel.com. Facebook hackers could have collected personal data of 2 billion users » Facebook users have been giving away their data for a decade. Is it too late to get our privacy back? » After Facebook data breach, 6 tips on how to secure your personal information on social media ». Delta said it wasn’t yet able to say how many customers actually had their data stolen.Data…

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A cyberattack hobbles Atlanta, and security experts shudder

“The Colorado Department of Transportation was able to restore its systems on its own after a SamSam attack, without paying SamSam a dime” writes David Goldman for cnbc.com. Attempted ransomware attacks against local governments in the United States have become unnervingly common.In a ransomware attack, malicious software cripples a victim’s computer or network and blocks access to important data until a ransom is paid to unlock it. Source: cnbc.com Share This:

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Russian hackers pose as North Koreans to launch cyberattack on Winter Olympics, claims US

“Russian hackers attacked South Korean government computers during the Winter Olympics, but made it look like the attack was carried out by the North, US intelligence agencies believe” writes Harriet Alexander for telegraph.co.uk. During the Opening Ceremony, Russian hackers operating from the GRU – the Russian military intelligence agency – allegedly masked their IP addresses to make it look like their hack had come from North Korea.Officials in Pyeongchang acknowledged that the games were hit by a cyber attack during the February 9 Opening Ceremonies, but had refused to confirm…

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Russia was behind the cyberattack during the opening ceremonies for the 2018 Winter Olympics

“Russian hackers were responsible for a cyberattack against the 2018 Winter Olympic Games opening ceremony, and tried to make it appear as though North Korea was responsible, reports The Washington Post” writes Feb Est for theverge.com. Citing officials from the US intelligence community, the Post says that Russia’s Main Intelligence Directorate (GRU) gained access to around 300 computers, hacked routers, and distributed malware in the lead-up to and during the event’s opening ceremonies.Olympic officials confirmed at the beginning of the games that a cyberattack had taken place, but didn’t reveal…

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US, UK governments blame Russia for 2017 NotPetya cyberattack

“The US and UK governments have officially blamed Russia for the NotPetya cyberattacks that happened in summer 2017” reports slashgear.com. Private security officials have blamed the Russian government since the attack happened, and now both US and UK governments are officially joining those ranks. We are committed to strengthening coordinated international efforts to uphold a free, open, peaceful and secure cyberspace.The White House and the UK’s National Cyber Security Centre have both released statements about the attack, each condemning the Russian government for “the most destructive and costly cyber-attack in…

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