Cryptocurrency users, exchanges and investors suffered $4.5 billion in crypto-related losses resulting from thefts, hacks, and fraud, a CipherTrace report reveals. Cryptocurrency crime losses The lion’s share of those losses stem from the staggering growth of Ponzi schemes, exit scams, and misappropriation of funds crimes, the value of which rose 533 percent year over year….

There’s significant variation in DevOps maturation and security integration across the financial services, government, retail, telecom, and technology industries, according to Puppet’s report based on nearly 3,000 responses. “Integrating security into your DevOps practices can be challenging, but when done correctly is proven to pay off. Security should not be an afterthought; it must be…

Only 6% of all breaches in 2019 were suffered by financial services firms, according to Bitglass. However, these breaches compromised significantly more records than those that occurred in other industries. Leaked records and data breaches in the financial services industry In total, more than 60% of all leaked records in 2019 were exposed by financial…

The European cybersecurity market is determined to exceed $65 billion by 2025, according to Graphical Research. This growth is attributed to strong government initiatives to promote data safety and hefty investments in cybersecurity solutions. Industry sectors and cybersecurity The increasing cases of data breaches and cyber attacks on critical business infrastructure have driven several business…

For the last 50 years, the fundamental and largely unchanged model for identifying and authenticating users has been based on the combination of a username and password, sometimes augmented with “second factor” techniques. While this approach has mostly served financial and other high-security industries well, it’s increasingly shown to suffer from five drawbacks: 1. Complex…

Financial services organizations are increasingly exposed to cyber threats, according to Wandera. The report “​Mobile Security in the Financial Services​,” includes analysis of six months of security data from 225 financial services customers with 50,000 devices collectively under management. Notable findings There were 4.7 million events across the subset of devices analyzed over the 6-month…

The financial impact of ransomware rose by 60%, losses from business email compromise (BEC) doubled, and cryptojacking incidents more than tripled, all despite the fact that overall breaches and exposed records were down in 2018, according to Internet Society’s Online Trust Alliance (OTA). The data shows that cybercriminals are getting better at monetizing their activities,…

Worldwide spending on public cloud services and infrastructure will more than double over the 2019-2023 forecast period, according to IDC. With a five-year compound annual growth rate (CAGR) of 22.3%, public cloud spending will grow from $229 billion in 2019 to nearly $500 billion in 2023. “Adoption of public (shared) cloud services continues to grow…

The US$1 trillion that traditional retail and commercial banks have invested globally over the past three years to transform their IT operations has not yet delivered the anticipated revenue growth, according to a new report from Accenture. The report — “Caterpillars, Butterflies, and Unicorns: Does Digital Leadership in Banking Really Matter?” — analyzed more than…