The Association of Certified Fraud Examiners (ACFE) recently released a report Occupational Fraud 2024: A Report to the Nations, where they estimated that most organizations lose about 5% of their revenue each year due to fraud. We have joined in our support of International Fraud Awareness Week and applaud the ACFE and their efforts to help raise awareness and reduce fraud that hurts all of us, whether we work for these organizations or are consumers of the goods and services they provide.

Gal Peretz is Head of AI & Data at Torq. Gal accelerates Torq’s AI and data initiatives, applying his deep learning and natural language processing expertise to advance AI-powered security automation. He also co-hosts the LangTalks podcast, which discusses the latest AI and LLM technologies. To stay ahead of today’s threats, you must do more than keep pace — you need to equip your team with tools that enable smarter, faster responses.

Let’s catch up on the more interesting vulnerability disclosures and cyber security news gathered from articles across the web this week. This is what we have been reading about on our coffee break! Oh look, wondered when this lot would end up in the news again …

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Microsoft 365 is the standard in modern enterprise environments, offering a robust suite of productivity and collaboration tools. With millions of users accessing sensitive data from various devices and locations, security vulnerabilities can arise, making it highly attractive for cybercriminals seeking to exploit and steal valuable data.

The United States, is a prime target for cyber attacks. The U.S. retail sector, which holds nearly one-third of the global market share, has seen a significant rise in ransomware incidents, accounting for 45% of global retail ransomware cases in the past three quarters—a 9% increase from 2023. New groups like Ransomhub and Hunters have emerged and supply chain threats have increased. Social engineering tactics are on the rise, with attackers impersonating IT personnel.

Black Friday may be the pinnacle of the holiday shopping season, a day when online retailers experience unprecedented traffic and revenue opportunities as consumers kick off the Christmas season. For many retailers, it’s a make-or-break event. Yet, with increased traffic comes increased risk, particularly as it relates to cybersecurity and keeping shoppers safe from fraud stemming from a cyberattack on their favorite digital store.

The Data Security and Protection Toolkit (DSPT), an online tool, is undergoing significant changes. From September 2024, the DSPT will now align with the National Cyber Security Centre’s Cyber Assessment Framework (CAF) to enhance cybersecurity measures across the NHS. This shift will impact many NHS organisations and require adjustments to their data security and protection toolkit strategies.

When the title of chief information officer (CIO) first emerged in the early 1980s, it was very different from what it is today. Technology evolution, emerging threats and new realities have shifted the role from simply “keeping the lights on” to strategically “enabling the business” in every way.

In an era where data breaches, privacy violations, and regulatory fines dominate headlines, the need for robust privacy engineering has never been more critical. Yet, despite its growing prominence, privacy engineering is failing to meet the demands of businesses and consumers alike. To understand why, let’s explore what privacy engineering is, the challenges it faces, why its current state is insufficient, and the transformative shift needed to make it truly effective.