Health and safety (84%) overtook cyber attack, including cyber extortion (69%), as the top risk for directors and officers (D&O) in APAC this year, according to the 2024 Global Directors' and Officers' Survey Report from WTW and Clyde & Co.
Marsh, the world's biggest insurance broking group, has established Edgware Re, a group captive insurance company for organisations seeking more control and stability in their cyber insurance programs.
The number of cyber threats blocked in 2023 showed an increase of over 10% on an annual basis. Also a significant trend observed in 2023 was that the attackers are using more advanced methods to target fewer victims but with the potential for higher financial gains.
A new report has highlighted the enormous amount of water and energy consumption that AI systems require. It said AI has the potential to "supercharge" climate disinformation.
Two major ransomware groups, GhostSec and Stormous have joined forces and are conducting several double extortion attacks on organisations and governments according to a new report by cyber security research company Cisco Talos.
Around 84% of the respondents in a new cyber survey paid ransom to cyber attackers but only 47% of these retrieved their data and had their services uncorrupted according to a new survey by the US based cyber security company Cybereason.
Responsible AI policies and risk management frameworks will be critical to navigating the complex technical and compliance challenges of AI according to the Federation of European Risk Management Associations (Ferma).
In Australia data breaches reported in the second half of 2023 surged by 19% to 483 incidents, compared to 407 in the preceding six months. The predominant cause of these breaches was identified as malicious or criminal act, representing 67% of the total incidents reported.
The insurance and banking sectors will be required to carry out an impact assessment to ensure their use and development of AI protects the fundamental rights across Europe.
Cyber security is a threat to financial stability and regulators and supervisors must act now to strengthen the prudential framework according to a recent survey of 51 countries by International Monetary Fund (IMF).