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Tag Archives: Cybersecurity

Combating cybercriminals with bug bounty platforms

Demand for cybersecurity has grown into a USD 96 billion industry, and cybercrime costs have risen to an estimated USD 600 billion annually. One new innovative solution to combat cybercriminals and protect businesses is bug bounty platforms. Bug bounty platforms are large communities of “white hackers” (those that test software …

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5 principles to keep your security strong

Most security incidents that lead to confidential data being compromised are the result of companies failing to evolve their security programs to match new technologies.  Following these five principles will keep your business ahead of the game: Encourage a partnership between engineering, product and cybersecurity teams – a repeatable roadmap …

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6 cybersecurity tools to know about in 2019

Cybersecurity is becoming more and more vital to how we live. Here are six up-and-coming cybersecurity tools to keep an eye on in 2019: SafeBlocks – SafeBlocks offers real-time protection for smart contract users, adding another layer of protection to applications built on blockchains. SafeBlocks continuously validates transactions based on …

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The inside-out approach to cybersecurity in banking

The outside-in mindset (where cyber threats are treated as external influencers) leaves financial institutions in a reactive mode and needs to change. The inside-out approach (where cybersecurity is aligned to business priorities and is adaptable to an ever-changing threat landscape) will prove much more successful in the long run. Instead …

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Addressing cybersecurity in financial institution-FinTech partnerships

Partnerships between financial institutions and FinTechs must go beyond the customer value proposition and provide embedded cybersecurity at all stages of the customer journey. Open APIs present an incredible opportunity for financial institutions to acquire, engage and transact with customers as well as for FinTechs to introduce new technologies and …

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The surprising slowness of IT departments

Researchers have found that companies take an average of 30 days to close known vulnerabilities and that many others delay the installation of updates for several months. This is alarming given that more than 230,000 malicious programs appear every day. At the same time, researchers have also found that a …

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Video: a cautionary tale of cyber privacy

Follow the story of Tim as he deals with the aftermath of posting a seemingly innocuous piece of digital information online. The future of banking: secure omnichannel banking Video: how electronic payments work Infographic: why video banking is on the rise

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How to identify a phishing site

Phishing is a massive global issue that more than 12 million internet users fall victim to each year. Typically, cybercriminals trick users into visiting a fraudulent website where they then obtain confidential information that can be used to steal money, identifications and more. Here are a few ways to recognize …

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Five reasons passwords are here to stay (at least for now)

Biometric technology such as fingerprint and facial recognition have been heralded for years as a replacement for passwords. While this may be true in the distant future, there are a few challenges that have yet to be solved before they can fully replace passwords: Biometrics can’t be encrypted – biometrics …

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The state of cyber-attacks in Kazakhstan

In 2017, cyber-attacks caused at least USD 1 million in damage to Kazakhstanis. The exact extent of damages is unknown due to the lack of open data; however, some estimates put the figure several times higher than USD 1 million. Last year, Kazakhstan ranked 6th in the world in terms …

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17% of Uzbek users face cyber-attacks each month

It’s no secret that cybercrime in the world is developing at a rapid pace, with cybercriminals becoming better in their attacks and in ways to tricking people and systems. In Uzbekistan in the second quarter of 2018, 26% of internet users faced at least one cyber-attack, down from 31.52% in …

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Is your phone spying on you?

No one is surprised by contextual advertising after they search for something on Google. But have you ever noticed it after just talking to a friend in a casual conversation? Is this just a coincidence or is someone spying on you? It turns out that your mobile phone may be …

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Increasing amount of theft at cryptocurrency exchanges

There is an arms race developing between cyber criminals on the one side and cryptocurrency exchanges and regulators on the other side. In recent years, there has been a tripling of money laundering through cryptocurrencies. But perhaps more alarming is the rise in the theft of cryptocurrencies. It is estimated …

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Kyrgyzstan in top 5 for cryptocurrency attacks

Kaspersky Lab has completed a study that shows that Kyrgyzstan ranks in the top 5 in the world for cryptocurrency attacks. According to the study, hackers stole more than USD 2.3 million in cryptocurrency attacks just in the second quarter of 2018. It was reported that attackers convince user to …

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The problem of hidden mining in Uzbekistan

One of the most common cyber threats in Uzbekistan is hidden mining. Although there are still threats associated with the more traditional unknown downloading and installation of a mining program onto user computers, hackers and programmers have become more ingenious in recent years. Uzcert and ESET (a company specialized in …

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Azerbaijan updates cryptographic keys

Azerbaijan has announced the replacement of cryptographic keys that serve as protection for domain name systems (DNS). Cryptographic keys, first introduced in 2010, are responsible for the security and integrity of internet addresses. In Azerbaijan, this is for websites that end in “.az”, including those ending in “.com.az” and “.edu.az”. …

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Why cryptocurrency exchanges are hacked so often

Last year, at least five major cryptocurrency exchanges were hacked, resulting in the loss of hundreds of millions of USD. The fault for such hacks resides on two fronts: the client side and the server side. On the client side: Cross Site Scripting (aka XSS) allows attackers to use your …

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Big data could provide the solution to cyber-attacks

Financial institutions have become the epicenter of cyber-attacks, with a successful attack on one rippling through the highly-interconnected financial system. With the rate, pace and sophistication of cyber-attacks continuing to grow exponentially, security has become a big data problem. But big data could also be the solution. Applying machine learning …

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Infographic: the true cost of a data breach

The financial services industry has been hit hard with data breaches in recent years, underscoring the need for financial institutions to step up security measures to protect both themselves and their customers. But beyond public backlash, reputation damage and lost client trust, financial institutions that experience a data breach face …

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The future of cybersecurity in banking

With technology becoming of greater importance to daily life around the world, the threat of cyber-attacks has become a real issue for many companies, both small and large. This is especially true for financial institutions, which have become a frequent target of cyber criminals. Although technology is undoubtedly making banking …

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