UK not as keen on mobile wallets as mainland Europe and US

The UK is lagging behind other countries in mobile wallet adoption, according to a new survey out today.

Consumers in the US and Europe are catching up with those in fast-growing economies in Asia and Latin America where mobile wallets have already become the dominant payment platform, according to an online survey of 6,000 consumers in 20 countries worldwide sponsored by global payments software firm ACI Worldwide.

The research shows that 17 per cent of US consumers now regularly use their smartphone to pay, up from 6 per cent in 2014 when the survey was last conducted. In Europe, Spanish consumers are the most active users of mobile wallets, with 25 percent using them regularly, followed by Italy (24 per cent), Sweden (23 per cent) and the UK (14 per cent). Read moreĀ here.

Global payments software firm ACI Worldwide found that security concerns, while present, are not holding back uptake.

Steven Murdoch, a security researcher at University College London and authentication vendor VASCO, said that the situation with mobile payment security is mixed.

“In terms of risks, it’s far easier to compromise a smartphone than a card. Cards are simple special-purpose computers, engineered primarily for security, whereas smartphones are complex, general-purpose computers potentially running software from dubious sources.”

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Verizon’s 2016 Data Breach Investigations Report finds cybercriminals are exploiting human nature

Cybercriminals are continuing to exploit human nature as they rely on familiar attack patterns such as phishing, and increase their reliance on ransomware, where data is encrypted and a ransom is demanded, finds the Verizon 2016 Data Breach Investigations Report.

This year’s report highlights repeating themes from prior year’s findings and storylines that continue to play off of human nature, including:

  • Eighty-nine (89) percent of all attacks involve financial or espionage motivations.
  • Most attacks exploit known vulnerabilities that have never been patched despite patches being available for months, or even years. In fact, the top 10 known vulnerabilities accounted for 85 percent of successful exploits.
  • Sixty-three (63) percent of confirmed data breaches involve using weak, default or stolen passwords.
  • 95 percent of breaches and 86 percent of security incidents fall into nine patterns
  • Ransomware attacks increased by 16 percent over 2015 findings.
  • Basic defenses continue to be sorely lacking in many organizations.

Read more…

Top Cybersecurity Risks for Healthcare Industry

Despite the cyber threats facing healthcare organizations, 95 percent of IT specialists working at medical organizations around the world report that their organizations do not use any software for information security governance or risk management, according to the results of a 2017 IT Risks Survey.

Netwrix Corporation, provider of a visibility platform for data security and risk mitigation in hybrid environments, released the results of its Netwrix 2017 IT Risks report, which provides a look into IT security practices, pains, successful experiences and plans in the healthcare industry. The IT risks are divided into three areas: security, compliance and operations.

Read the netwrix.com blog here