Category: Industry News

News and information from the Advent IM team.

Banks accused of neglecting customer security measures

Many UK retail banks are leaving their customers exposed to fraud by neglecting to implement website protections and allowing users to set laughably insecure passwords to use their online services, according to consumer rights organisation Which?. Which?’s investigation, conducted with assistance from security firm 6point6, tested the online and mobile app security of the UK’s […]

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European parliament found to have broken EU rules on data transfers and cookie consents

The European Union’s chief data protection supervisor has sanctioned the European Parliament for a series of breaches of the bloc’s data protection rules. The decision sounds a loud warning to sites and services in the region about the need for due diligence of personal data flows and transfers — including proper scrutiny of any third […]

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GDPR Fines Totalled Over €1bn in 2021

Last year saw a huge onus on the protection of data and privacy and this is reflected in the huge increase of GDPR fines, year-over year. According to data presented by Atlas VPN, GDPR fines hit over €1 billion in 2021 – compared to €171 million in 2020. A total of 412 penalties were issued […]

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Morgan Stanley agrees to $60M settlement over compromised personal data

Morgan Stanley has agreed to establish a $60 million fund to settle a class-action lawsuit filed by nearly a dozen customers regarding personal data that was compromised when the bank decommissioned two wealth management centers. The proposed settlement, filed Friday in U.S. District Court for the Southern District of New York, will allow class members […]

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Beware of Fake Telegram Messenger App Hacking PCs with Purple Fox Malware

Trojanized installers of the Telegram messaging application are being used to distribute the Windows-based Purple Fox backdoor on compromised systems. That’s according to new research published by Minerva Labs, describing the attack as different from intrusions that typically take advantage of legitimate software for dropping malicious payloads. “This threat actor was able to leave most […]

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Log4j: Why this massive security flaw is impacting nearly all of the internet

A major cybersecurity vulnerability is impacting nearly all of the internet, sending everything from financial institutions to government entities scrambling to patch their systems, before cybercriminals and nation states can launch cyberattacks. Known as the Log4j vulnerability, the flaw impacts a piece of open-source logging software that allows developers to understand how their programs function. […]

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Kronos hit with ransomware, warns of data breach and ‘several week’ outage

HR management platform Kronos has been hit with a ransomware attack, revealing that information from many of its high-profile customers may have been accessed. UKG, Kronos’ parent company, said the vital service will be out for “several weeks” and urged customers to “evaluate and implement alternative business continuity protocols related to the affected UKG solutions.” […]

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SPAR: Supermarket chain forced to close stores due to cyber attack

The supermarket chain SPAR has been forced to close a number of stores following a cyber attack. A spokesperson told Sky News that more than 300 stores had been affected by the incident, though some had avoided closing by switching to cash payments. The spokesperson explained that the cyber attack had impacted all of the […]

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Bank of Ireland fined €24.5m for business continuity failures

Bank of Ireland hit with multi-million euro fine by central bank following an investigation The Bank of Ireland has been hit by a multi-million euro fine by Ireland’s central bank after an investigation found it has not had a system in place that could ensure customer services in the event of an IT failure. The […]

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