The World Federation of Exchanges launched a cyber security committee to collaborate on finding the most effective ways to protect the global capital markets from cyber crime, Reuters reports. The Cyber Security Working Group will be chaired by Mark Graff, chief information security officer at Nasdaq OMX Group, and vice-chaired by Jerry Perullo, who heads information security at Intercontinental Exchange Group, and the committee is made up of members from dozens of exchanges and clearing houses, the article says.
The legal consequences of cyberattacks, such as class-action lawsuits on behalf of victim third-parties, are a growing worry of business owners, and businesses without cyber insurance are vulnerable to cybercrime and any consequential litigation, according to Solace Insurance.
The latest version of the Payment Card Industry (PCI) Data Security Standard will soon require businesses to implement and perform penetration testing, but only 41 percent of retail sector enterprises currently use penetration testing to identify security risks.
The information security function fully meets needs in only 17 percent of organizations, according to EY’s 16th annual Global Information Security Survey 2013, which tracks the level of awareness and action in response to cyber threats, canvassing the opinion of more than 1,900 senior executives globally.
Google Inc will begin to shield news organizations and human rights groups from cyberattacks as part of a new service package designed to support “free expression” on the Web in its “Project Shield” initiative, the company said Monday.