Tag: Cybersecurity

1
Could your ERP system make you a victim of cybercrime?
2
The FBI understands if you pay ransom to cyber hackers, but isn’t too pleased about it
3
Aviation Sector Resolves to Protect Industry from Cyber Threats
4
Hospital systems in quarantine after ransomware attack in Victoria
5
Is your iPhone spying on you (again)?
6
AI (Adverse Inferences): AI Lending Models may show unconscious bias, according to Report.
7
Interlopers in Things? IoT devices may be used as backdoors to your network
8
Trending: Security as a service
9
A Different Immune System: TGA provides Insight into Cyber Security for Medical Devices
10
Cyber diligence: Study reveals cybersecurity concerns are becoming a critical factor in M&A due diligence

Could your ERP system make you a victim of cybercrime?

By Cameron Abbott and Allison Wallace

We frequently blog here about incidents where companies, government agencies or public have suffered data or security breaches at the hands of hackers. They’re often incidents that come to light because they affect the public in some way – by shutting down hospitals, exposing sensitive personal information, or threatening government security. But what about hacks that, while not having wide-reaching public implications, go to the core of a business’ operations?

Read More

The FBI understands if you pay ransom to cyber hackers, but isn’t too pleased about it

By Cameron Abbott and Karla Hodgson

While the FBI won’t be impressed if you pay ransomware demands in order to get your systems or data back after a cyber attack, its updated ransomware guidance contemplates that this might just be the outcome of an attack anyway.

Read More

Aviation Sector Resolves to Protect Industry from Cyber Threats

By Cameron Abbott and Karla Hodgson

Cybersecurity is now well and truly a priority for the aviation sector, with the International Civil Aviation Organization (ICAO) adopting an action-oriented cybersecurity resolution at its 40th Triennial Assembly earlier this month.

Read More

Is your iPhone spying on you (again)?

By Cameron Abbott and Allison Wallace

In the latest installment of this seemingly ongoing tale, Google uncovered (for the second time in a month) security flaws in Apple’s iOS, which put thousands of users at risk of inadvertently installing spyware on their iPhones. For two years.

Read More

AI (Adverse Inferences): AI Lending Models may show unconscious bias, according to Report.

By Cameron Abbott and Max Evans

We live in an era where the adoption and use of Artificial Intelligence (AI) is at the forefront of business advancement and social progression. Facial recognition technology software is used or is being piloted to be used across a variety of government sectors, whilst voice recognition assistants are becoming the norm both in personal and business contexts. However, as we have blogged previously on, the AI ‘bandwagon’ inherently comes with legitimate concerns.

This is no different in the banking world. The use of AI-based phishing detection applications has strengthened cybersecurity safeguards for financial institutions, whilst the use of “Robo-Advisers” and voice and language processors has facilitated efficiency by increasing the pace of transactions and reducing service times. However, this appears to sound too good to be true, as according to a Report by CIO Drive, algorithmic lending models may show an unconscious bias.

Read More

Interlopers in Things? IoT devices may be used as backdoors to your network

By Cameron Abbott and Karla Hodgson

This month Microsoft reported that its Threat Intelligence Center discovered that IoT (internet of things) devices – a VOIP phone, a printer and a video decoder – were used to gain access to corporate networks in April.

Microsoft have identified Strontium – also known as Fancy Bear or APT28 – as the culprit, a hacker group associated with the Russian government who appear to be targeting government, IT, military and defence, engineering, medical and education sectors. Strontium has been linked to the hacking of Hillary Clinton’s presidential election campaign and of the email accounts of researchers investigating the missile strike on MH17 and the Skripal poisonings. In the last 12 months alone Microsoft has delivered almost 1,400 notifications to those targeted or compromised by Strontium.

Read More

Trending: Security as a service

By Cameron Abbott and Karla Hodgson

Remember the time when you first heard about cloud computing and it took you a few moments of quiet contemplation before you wrapped your head around the concept of computing being situated “up there”?  Of course today we aren’t surprised to learn that over 80% of enterprise workloads will be in the cloud by next year and that a new wave of cloud-based security as a service (SECaaS) solutions are rolling in to address the forecasted USD $5.2 trillion per year in cybercrime damage that is expected to impact within the next 5 years.

Based on the software as a service (SaaS) model, SECaaS is a cloud-based managed security service that removes the need for businesses to buy and continually upgrade on-premises hardware and software and keep staff upskilled in the ever-shifting world of cybersecurity risk and protection.

Read More

A Different Immune System: TGA provides Insight into Cyber Security for Medical Devices

By Cameron Abbott, Michelle Aggromito and Max Evans

The Australian Therapeutic Goods Administration (TGA) has published its guidance framework dealing with medical device cyber security for manufacturers and sponsors of medical devices, as well as for consumers, health professionals and other users. This is driven by a number of challenges that regulators face to protect users against cyber security risks, including the alteration of device function, loss to privacy and the alteration of personal health data.

The crux of the framework is based on the TGA view that knowledge is power, in that patients using connected medical devices should be informed about the potential cyber security risks those devices have, and take proactive measures to protect their devices and networks.

Read More

Cyber diligence: Study reveals cybersecurity concerns are becoming a critical factor in M&A due diligence

By Cameron Abbott and Rebecca Gill

Unreported data breaches have disrupted several major M&A deals in recent years, such as Marriott International’s merger with the Starwood hotel chain. The growing list of cautionary (and costly) tales appears to be making an impression in the M&A space, as a recent study of IT professionals and business executives by Forescout Technologies has found.

The study queried a total of 2,779 respondents from all over the world, and found that 93% of the respondents viewed cybersecurity evaluations as important to their companies’ M&A decision-making processes. Respondents also ranked a target company’s history of cybersecurity incidents as the second most important factor when performing due diligence on the business, following the company’s financial statements.

Read More

Copyright © 2019, K&L Gates LLP. All Rights Reserved.