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Evolver News Round-Up: Typical American Financial Services Firm Attacked 1 Billion Times Per Year

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News Round-Up – Get a Quick Rundown of What You Need to Know

 

Evolver’s Cyber News Round-Up looks into recent reports and journalism covering cyber threats and trends affecting all industries. You can suggest articles to us on LinkedIn and on Twitter at @EvolverInc. Visit our cybersecurity services page to learn more about cyber risk assessment and threat protection.

 

 

U.S. Financial Institutions Attacked 1 Billion Times a Year

Forbes, in a recent article, goes in depth as to the effects of cybercrime on the financial services industry here in the United States. These organizations are 300 times more likely to be targeted in cybersecurity attacks than those in different industries. In 2017, the article notes, just banks alone faced a loss of $16.8 billion in 2017 due to cybercriminals. The most expensive attacks that financial service companies face are denial of service as well as phishing and social engineering.

 

123 Million Records at Risk in Breach of Huazhu Hotels Group

A new article from SC Magazine details the events of one of the latest breaches—that of the Chinese hotel group, Huazhu. Amongst the information compromised were emails, customer IDs, login information, phone numbers, and more. The breach was finally discovered once the data was found being sold online by the cyber criminals responsible, according to the article.

 

More than Half of Data Breaches in Healthcare Involved Insiders

According to 2017 results that were discussed by The Register, 60% of healthcare data breaches involved someone on the inside of the organization. Money was the driving motive behind over 50% of these insider breaches, while 94 of them were motivated by the desire to look into records of people they know or celebrities. The article also notes that another whopping 66% of the attacks by insiders were related to privilege abuse.

 

The Reason Small and Medium Sized Businesses Are Easily Compromised by Cyber Attacks

InfoSecurity published a piece about the lack of information towards cybersecurity threats among employees of small and medium sized businesses (SMBs). A quarter of employees reported that they do not have an understanding of the Dark Web, meaning that organizational awareness of cyber threats is extremely low. The article also notes that over a third of employees do not change their password for work once a year, and 65% admitted that email phishing tests have never been conducted at their organization.

 

Healthcare Organization WellCare Faces Data Breach Leaving 20,000 Children’s Data Leaked

As HealthITSecurity reports, healthcare group WellCare mistakenly attached the wrong addresses to letters that were sent out regarding child patient visit reminders. The result was the exposure of protected health information (PHI) of over 20,000 children including ages, names, and healthcare providers. The article also notes that this is not the first breach the company has faced by any means.

 

Photos of Children Monitored By Family Orbit App Leaked in Hack

Another recent hack has left children as the victims according to an article from Cyber Defense Magazine. An app by the name of Family Orbit, used by parents to keep an eye on their children, resulted in hundreds of children’s photos online with an unsecure password. In addition to the photos, CDM reports, multiple customer emails were exposed as well.

 

 

 

 

 




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