Scammers steal half-a-billion pounds from UK banking customers

Industry group UK Finance said £145m of that was due to authorised push payment (APP) scams, in which people are conned into sending money to another account. But £358m was lost to unauthorised fraud, which includes transactions made without account holders’ knowledge. Unauthorised fraud victims are usually refunded by their banks, but most victims of[…]

The rise of cybersecurity insurance

This is the hottest product in the Insurance industry…no surprise given current state….big market opportunity to price/assess customers fairly and pay for compromise… All companies are potential victims of cyber attacks, and buying insurance is one way many are trying to manage that risk. Why it matters: Companies hit by attacks are exposed to incredible costs[…]