- FCA publishes its annual Sector Views
- Huntswood comments on FCA annual Sector Views
- HBSC profits down by a third and around 35,000 jobs to go-Signavio comments
- HSBC offering a comparison site exclusive cashback deal to new customers through money.co.uk and Uswitch
- Payments through Pay.UK reached an all-time high in 2019
- Equifax says quality of data is top priority for credit industry in 2020 and beyond
- Flywire acquires Simplee and also announces $120m Series E investment round led by Goldman Sachs expired
- Moneyfacts says the average UK long-term fixed savings rates are at their lowest point since May 2017 expired
- Mastercard developing its first European Cyber Resilience Centre expired
- Monzo to have a second go at launching its premium account offering expired
- FCA impose fine of £2.77m on Moneybarn expired
- FCA bans a number of online credit broking adverts issued by Rix Motor Company expired
2nd August 2019
Capital One breach: Cloud services come with unique security risks, says Vectra
Responding to the news of the Capital One data breach, Matt Walmsley, EMEA Director at Vectra, said:
“Capital One didn’t even know they’d been breached until an external party notified of them on Wednesday 17th July that their customer data appeared to be showing up on GitHub. Yet again we see another big breach where defensive controls fail and detection capabilities are found wanting. In this case it seems that technical configuring mistakes in firewalls provided an opening and a motivated insider within the cloud service provider.
“Cloud services, with all their many benefits, also come with unique security risks to be managed such as attacks directly aimed at Cloud PaaS using stolen credentials, which would remain invisible to workload and cloud instance-centric security controls. Pervasive visibility across the enterprise, agnostic of environment type, is fundamental to security success.
“The task of quickly spotting the attacker behaviour, particularly when they are using legitimate tools and services for nefarious means, is beyond the speed and scale of humans alone. AI is now being used to combat cybersecurity adversaries by analysing digital communications in real time and spotting the hidden signals to identify nefarious behaviour whether they’re in the cloud or operating in your local infrastructure.
"AI can also ‘tie together’ the weak signals from the cloud and local infrastructure to identify the developing attack and enable security teams to quickly identify and stop cyberattacks before they’re able to wreak havoc.
“Given the recent fines Equifax have just been hit with, Capital One should expect deep and extended inspection, and putative fines if found to be culpable in the breach.”