Cyber Markets Roundup (Wk. 18, May '23): Shifting focus & priorities: how the healthcare and other industries are adapting to cybersecurity demands a
Cyber Markets Roundup | Weekly cybersecurity investment highlights
*Stock data as of the market close, cryptocurrency data as of 4:00 AM ET.
WHAT’S NEW
Bank of Montreal Can increases position in cybersecurity provider, SentinelOne Inc.
On April 24th, 2023, Bank of Montreal Can revealed that it raised its position in SentinelOne, Inc. (NYSE:S) by 19.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). This move reflects an increasing trend in the need for cybersecurity solutions as cyber threats continue to grow. [Best Stocks]
86% of healthcare cloud attacks result in financial loss
Highlights:
61% of respondents in the healthcare industry suffered a cyberattack on their cloud infrastructure within the last 12 months, compared to 53% for other verticals. Phishing was the most common type of attack reported.
Healthcare organisations plan to increase the share of their workload in the cloud from 38% to 54% by the end of 2023. Fast cloud adoption should be accompanied by relevant security measures and special attention to internet-of-things (IoT) devices and systems [Cyber Magazine]
Charities urged to be aware of cybersecurity risks
Charities lost £8.6 million to fraud in the last financial year, according to the latest research by the Charity Commission and Fraud Advisory Panel.
Data released during this week’s Charity Fraud Awareness Week suggests that charities may currently be vulnerable to fraudsters attempting to exploit the Covid-19 pandemic because staff and volunteers are less likely to have had fraud training. A study carried out by the Charity Commission in partnership with the Fraud Advisory Panel last year found that only 9% of charities had a fraud awareness training programme. [Cyber Magazine]
New Software Standards Could Help Hospitals Thwart Hackers
As of April 1, 2023, all medical device manufacturers are required to submit a Software Bill of Materials that lists all software — and hardware that includes software and open-source libraries — that creates vulnerabilities to hackers.
Hospitals have been paying the ransoms, but that’s just part of the cost of being hacked. There’s lost income, “cleaning up” after the hacker and having to shut down operations for some period of time. And after all that, the hacker may reappear in a year or so when they feel comfortable again. [Gov Tech]
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