A new report by the Council of Economic Advisers said cyberattacks cost the U.S. between $56bn and $109bn in 2016; the council's report represents between 0.31% and 0.58% of the 2016 U.S. gross domestic product being at risk; the financial sector had the biggest number of attacks seeing about 471 breaches in 2016; the report made an ominous statement on detecting threats saying, “Due to common vulnerabilities, instances of security breaches occur across firms and in patterns that are difficult to anticipate.” Source.
Level39 has launched Cyber39, a program focused on fighting cyberthreats in London; Cyber39 will initially involve the 22 cybersecurity companies associated with the Level39 startup accelerator and it hopes to add more companies; additionally Level39 has also opened the Cyber Demonstration Centre in Canary Wharf with the support of the Department for Digital, Culture, Media and Sport, and the Department of International Trade; the accelerator's efforts are aimed at building out cybersecurity solutions in the private sector and keeping London at the forefront of cybersecurity innovation. Source
The field of quantum computing, once thought to be the fantasy of science fiction, is slowly and steadily bringing shifts to the way we approach global issues. Brace yourself, finance sector, soon there may be a reset.
