Data breach: Why it’s time to adopt a risk-based approach to cybersecurity

Help Net security | January 28, 2020

Data breach: Why it’s time to adopt a risk-based approach to cybersecurity
The recent high-profile ransomware attack on foreign currency exchange specialist Travelex highlights the devastating results of a targeted cyber-attack. In the weeks following the initial attack, Travelex struggled to bring its customer-facing systems back online. Worse still, despite Travelex’s assurances that no customer data had been compromised, hackers were demanding $6 million for 5GB of sensitive customer information they claim to have downloaded. Providing services to some of the world’s largest banking corporations including HSBC, Lloyds, Barclays and RBS, the attack will clearly have a significant long-term impact on Travelex’s reputation and revenues. The company also potentially faces a catastrophic fine if customer data is found to have been accessed illegally.

Spotlight

"In today’s business environment, having access to the right information means making the right decision critical to surviving. Businesses need to protect their intelligence as it accumulates much faster because of big data. With HPE ArcSight ESM, you can process big data events at faster speeds, get results in real time so that your business is getting the security information
when it needs it the most in real time. With HPE ArcSight CORR-Engine, security event monitoring is simple, intelligent, efficient, and manageable."

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"In today’s business environment, having access to the right information means making the right decision critical to surviving. Businesses need to protect their intelligence as it accumulates much faster because of big data. With HPE ArcSight ESM, you can process big data events at faster speeds, get results in real time so that your business is getting the security information
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