How to better defend against cyber attacks
A conference in Las Vegas focusing on cyber risks has been told that a well-designed cyber weapon could “take down the whole Internet.” The warning came from the chief information security officer from in-Q-Tel, a not-for-profit firm connected to the CIA. Dan Geer offered suggestions for combating the threats of cyber attack including making software manufacturers liable for vulnerabilities in their products, allowing companies to strike back against attackers and less data being kept by companies like search engines and email providers. Mr Geer also advised businesses to ensure they have an offline back-up of vital data to reduce dependency on Internet-based systems.
World Bank focuses on climate change
The World Bank says it is increasingly viewing its lending “through a climate lens.” The amount of its lending for projects concerned with reducing impact on the environment or managing climate change risk has increased to 25 per cent in the last year. The bank says that any project begins with risk screening; how the project could be affected by climate change but also how it could have an effect on the climate. Group Vice President and Special Envoy for Climate Change Rachel Kyte says: “Climate change is a fundamental threat to development within our lifetimes, and the cost of addressing it is rising.”
Insurance giant fined by regulator
Stonebridge International Insurance has been fined by the UK’s financial services regulator over its treatment of customers in Europe. The company is part of Aegon Group and was investigated by the FCA over claims that it was attempting to maximise sales using tactics such as making it difficult for customers to cancel policies. Stonebridge has settled the case to avoid the highest fine but will still have to pay more than $15 million. Read the full story.
