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‘Big four’ accountants are now Britain’s top cyber security employers.

There's a big debate about splitting advisory from audit in the Big Four. It hasn't stopped the recruiting drive...: KPMG and PwC are now the UK’s top cyber recruiters, according to new data released by the world’s largest job site, Indeed. Both companies are hiring a large proportion of cyber security specialists, with cyber roles accounting for one in every 17 (5.95 per cent) new KPMG recruits and one in 20 (5.08 per cent) new hires at PwC. The two other members of the acc

Equifax just became the first company to have its outlook downgraded for a cyber attack

Looking for justification to invest in cyber security? How about the effect on your credit rating and the knock-on to your cost of capital?...: Moody’s has just slashed its rating outlook on Equifax, the first time cybersecurity issues have been cited as the reason for a downgrade. Moody’s lowered Equifax’s outlook from stable to negative on Wednesday, as the credit monitoring company continues to suffer from the massive 2017 breach of consumer data. “We are treating t

Tech Company Execs Sweat Personal Liability for Privacy Violations

Privacy is very much on the minds of 'Big Tech'...: [...] According to one member of Congress, “for large companies, fines are simply a cost of doing business.” This is consistent with my classes’ conclusion. Facebook is poised to pay a significant fine and has set aside $3-5 billion (yes, that’s with a “b”) to pay for various alleged privacy violations. Many observers have opined that this is a drop in the bucket for Facebook, and is not enough to change behavior. Perhap

Israel’s cybersecurity industry is now a powerful force – its biggest challenge may be its own success

I've carried articles on the Israeli security industry before (full disclosure - I work with one of these companies). This time, the WhatsApp hack shines the spotlight...: It is so secretive that the Israeli Defence Force (IDF) didn’t publicly acknowledge its existence until only a few years ago. Its youthful recruits, mostly aged 18-21 and recruited directly out of school for their computer and hacking skills, are not even permitted to tell ...

The Interconnected world – how do you solve a problem like third party risk?

PwC have some useful advice about third (fourth...) party risk. For a start, do you even know who your suppliers are?..: It has been a hugely rewarding week (except for lack of sleep!) - working in the Bay area with some great minds, meeting friends, family and clients, enjoying fine weather (especially when it’s cold and miserable back in the UK) and getting to see the true disruptor of our lifetime – technology. Technology continues to revolutionise the way we live and I f

Billionaire Warren Buffett says buying Bitcoin is “mathematically dumb”

The sound of cold water being poured on cryptocurrency zealots...: [...] Can you imagine a real bank with real money being hacked and having 2% of its assets stolen, and having to close for business for a week? No, I can’t either. Cyber-security experts have suggested that Bitcoin exchanges need to beef up their security to the kind of levels employed by the banks if they want to attract and protect customers. But here’s an idea: if you want a facility for financial trans

Israel-Hamas Cyberwar, when old warfare meets new

It's no accident that Israelis start up and run a lot of the world's cyber security companies. I've worked, and continue to work with graduates from 8200. They know their stuff...: [...] Today, the dream duty-station for Israeli military conscripts is no longer the Air Force, despite its attractive living standards and snazzy uniforms, or the elite Paratrooper division, which sport red (reddish-brown) boots signifying “the best of the best”. Instead, conscripts want to be as

Telecoms giant completes €515m cyber security acquisition

I have a partner agreement via Cymmetria with SecureLink Germany so now find myself figuring out how to deal with Orange, which I left in 2014. Circle of Life time...: Orange has completed a big-money takeover of cyber security firm SecureLink. The telecoms giant has acquired 100 per cent of SecureLink on a €515m enterprise value basis. The transaction is expected to complete in late Q2 or in Q3 of this year. With €248m revenues in 2018 and 660 employees, Netherland

New US privacy oversight on the table for Facebook, Zuckerberg

From a European perspective this sounds a lot like the DPO position that is mandated by GDPR...: WASHINGTON — Facebook and the U.S. Federal Trade Commission are negotiating a possible settlement that would require the company to place privacy-minded executives at the company’s highest levels, a source close to the talks told POLITICO on Wednesday — in addition to paying the expected multibillion-dollar fine it disclosed last week. The steps, which are subject to change un

UK Government Announces Cyber Security Ambassador

"Pssst...wanna buy some security?"... The UK government has announced the appointment of a new cybersecurity ambassador to promote the nation’s expertise in the sector to potential export markets. Henry Pearson joins the Department for International Trade (DIT) from previous stints as adviser for GCHQ’s National Cyber Security Centre (NCSC), the Ministry of Defence, and BAE Applied Intelligence’s Detica. He’ll be tasked with working closely with UK cybersecurity busine