Tag: cyber


Banks Still Need to Learn Lessons from 2022 Crises: BoE

January 10, 2023

Via: Insurance Journal

Banks still need to improve their risk management and learn the lessons from various crises that rocked markets in 2022, regulators at the Bank of England said on Tuesday. The market reaction to Russia’s invasion of Ukraine and turmoil in […]

Capital and Risk, Operational

‘Financial Hacking’ Plagues DeFi in Latest Setback for Crypto

October 20, 2022

Via: Insurance Journal

Decentralized finance, the once red-hot slice of the crypto universe that was at the center of this year’s collapse of the digital-asset world, is facing a rapidly increasing new challenge: financial hacking. After being plagued for years by hackers seeking […]

Capital and Risk, Operational

‘Cryptojacking’ Attacks on Financial Firms Surged in First Half

July 27, 2022

Via: Insurance Journal

Hackers are increasingly targeting financial firms such as banks and trading houses with attacks designed to use their computer systems to mine cryptocurrencies, according to cybersecurity firm SonicWall. The number of so-called cryptojacking attacks on financial companies more than tripled […]

Capital and Risk, Insurance

More Price Increases for U.S. Commercial Insurance in Q4 2021: WTW

March 7, 2022

Via: Insurance Journal

U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS). The aggregate commercial price change reported by carriers was above 7%. The survey compared prices charged on policies […]

Capital and Risk, Operational

Funds Transfer Fraud Skyrockets in 2021; Small Businesses Hit Hard

March 2, 2022

Via: Insurance Journal

Cyber claims from small and midsize businesses saw a “material uptick” in 2021, with funds transfer fraud a main culprit, according to cyber insurance and security firm Coalition. According to its 2022 Cyber Claims Report, Coalition concluded that from 2020 […]