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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2023-10-11T20:21:00
Businesses unnecessarily storing massive amounts of useless data create a “data hoarding” situation hackers love to exploit, according to a cybersecurity expert.
On average, two-thirds of the data stored by businesses is not needed and should be destroyed, said Tim Ayling, vice president of cybersecurity for Europe, Middle East, and Africa at information technology security company Imperva. Holding on to data creates vulnerabilities for businesses by giving cyberattackers more avenues to access an organization’s computer systems.
The more data a business has, the broader its attack surface is, meaning there are more possible vulnerabilities available for a hacker to exploit. If hackers can get access anywhere on a system, it might allow them to gain entry to other areas and extract other data they want.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2023-10-17T22:12:00Z By Jeff Dale
The United States and United Arab Emirates finalized an agreement to work together to safeguard the financial sector from cyberattacks.
2023-09-21T19:05:00Z By Neil Hodge
The furor over NatWest Group’s decision to monitor and close the account of right-wing Brexit campaigner Nigel Farage—and then disclose the details to a journalist—has raised questions regarding whether other banks employ the same means to get rid of undesirable customers.
2023-09-15T20:11:00Z By Adrianne Appel
Draft risk assessment regulations under the California Consumer Privacy Act are designed to prohibit businesses from handling consumer data if uncontrolled risks—to the security and privacy of the consumer, the public, or the business—outweigh the benefits.
2024-11-14T20:36:00Z By Adrianne Appel
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued an alert to financial institutions about their obligations to report deepfakes, warning artificial intelligence has given bad actors additional tools in their arsenal.
2024-07-31T15:31:00Z By Adrianne Appel
A nationwide rental outlet affiliated with Rent-a-Center and its chief executive have been sued by the Consumer Financial Protection Bureau for allegedly deceiving five million consumers about the terms of credit agreements.
2024-07-24T17:54:00Z By Neil Hodge
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
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