Financial Services Cybersecurity Weekly Briefing 7-7-2017

Financial Services Cybersecurity News Blast

Financial Services Cybersecurity News Blast

Kaspersky: Banks, Manufacturers, Oil and Gas Utilities Roughly 82% of NotPetya’s Corporate Victims

Among all industries, bank and finance companies were hit by 32 percent of NotPetya attacks. Oil and gas corporations saw around a 25 percent share of infections, and manufacturing companies were hit just under 25 percent of the time. Health care were on the receiving end of NotPetya around six percent of the time, followed by the food and beverage, trade, construction, and pharmaceutical industries.


Banking Task Force Issues Best Practices for Banks to Mitigate Cyber Threats

The United States Secret Service and the Bankers Electronic Task Force, a group of state bank regulators, recently issued a series of industry best practices for managing risks related to cyber threats. The recommendations were made after recent reports of a new international ransomware cyberattack which has affected computer systems in more than 60 nations. The release of industry best practices is part of a larger overall effort by state and federal authorities to combat cybercrime.


What CEOs Should Know About Cybersecurity

The good news is that studies have shown that cyberattacks have little effect on long-term corporate value. The share prices typically recover within 12 months. The reason that Yahoo had to write down $500 million is simply that the timing of the cyberattack coincided with the acquisition. Timing can be costly, partly because there are few financial recourses for a breach.


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