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).
While as anticipated, fraudulent instruction incidents were down 15% for the year 2023, however, business email compromise (BEC) was up 18% year over year across industries, returning to levels seen in 2020 and 2021 according to a new report on cyber trends for 2024 by specialty insurer Beazley.
The Asia Insurance Market Pricing: 2023 Fourth Quarter report, published by Marsh, showed that cyber insurance rates were flat, while those for property grew by 2%. The rate movements were the same as in the quarter prior.
Triple-I's latest edition of Cyber Insurance: State of the Risk said two primary factors may be at work in developing this trend. The first is the ubiquitous threat of data breaches and cyber attacks and the second is insurers have made strides in clarifying policy coverage and exclusions, improving risk managers' understanding of product value and helping insurers better manage costs and rate stability.