What is a cyber security incident report?

Cyber security incident report importance

A cyber security incident report is a document that captures the details of a cyber security incident, such as a data breach. A company’s IT and security teams can use the information within the report to remediate the immediate cyber threat, prevent future incidents of its kind, and, best of all, mitigate more significant cyber attacks down the line.   Let’s … Read More

Why is cybersecurity important in banking?

Cyber security in banking

Cyber security in banking is one of the most important elements in finance today. Banks are not only responsible for their customer’s assets but are also liable for the funds if they go missing. Therefore, protecting a user’s assets via robust cybersecurity measures has become the primary goal in banking in 2023.  However, customer accounts are not only susceptible to hacking. … Read More

Cybersecurity Statistics You Should Know In 2023

Cybersecurity Statistics 2022

With cyberattacks liable to occur at any time, coming in so many guises, and constantly evolving – the cybersecurity industry has to move quickly. Consequently, for organisations and individuals alike, keeping up with the latest statistics of cybersecurity trends can be overwhelming.  In response to this, we’ve compiled some of the most important cybersecurity statistics to know by the end … Read More

How to avoid a baiting attack

How to avoid a baiting attack

Social engineering attacks are one of the most significant threats to an organisation’s information security. So much so that a staggering 98% of cyberattacks involve some social engineering component. One of the social attacks favoured by cybercriminals is known as baiting.   In this article, we look at baiting attacks and how to avoid them.  What is a Baiting Attack?  Baiting … Read More

What is the real cost of a data breach? 

What is the real cost of data breach? 

Cyberattacks are on the rise. Hackers are well-funded, better organised, and more sophisticated in their methods. Not only are they causing millions of dollars’ worth of damage to businesses around the world but are reaping the rewards of a rather lucrative hacking enterprise.   Security teams are doing everything they can to prevent their companies from falling under attack, but malicious … Read More

Looking back at the top data breaches of 2021

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RiskXchange can help your company avoid becoming one of those affected by costly cyberattacks and ensure your organisation doesn’t make our list of top data breaches.. Cybercriminals flourished in 2021, which is, of course, bad news for businesses right around the globe. The Identity Theft Resource Center (ITCR) reported that by the end of September last year, the number of … Read More

Understanding the difference between ransomware attack and data breach

Riskxchange Understanding the differences between ransomware attacks and data breaches RiskXchange The leader in Third-Party Cyber Risk Management

RiskXchange uses data-driven insights to prevent ransomware attacks and data breaches in your organisation. Data breaches and ransomware attacks are two completely different kinds of hacks which are increasing worldwide. However, the line between the two has somewhat narrowed of late. What is the difference between ransomware attack and data breach? Let’s take a look at both. What is a … Read More

Social engineering attacks: What is a whaling attack?

RiskXchange Protecting Your Company From A Whaling Attack RiskXchange The leader in Third-Party Cyber Risk Management

In 2016, FACC CEO Walter Stephen fell victim to a whaling attack where fraudsters used his credentials to authorise a substantial cash transfer that cost the corporation over $56 million.  In the same year, a prominent Seagate executive suffered a similar data breach, exposing employees’ W-2 forms. Over 10,000 current and former Seagate workers had sensitive information, such as their … Read More