Singapore reveals new medical data breach

Singapore reveals new medical data breach

Singapore reveals new medical data breach

Singapore’s health ministry has disclosed that more than 14,200 people with HIV had their registry data leaked online raising more questions about the security of its citizens’ medical records. The cyberattack, which occurred in 2016 but was only discovered on 22 January, is the second major leak of personal health data to be reported in less than a year following…

Iran prepares to welcome foreign insurers

Iran prepares to welcome foreign insurers

Iran prepares to welcome foreign insurers

Foreign insurers are reportedly lining up to establish reinsurance operations in Iran, according to the country’s top insurance official. Head of Central Insurance Iran (CII) Gholamreza Soleymani told an insurance and risk management conference that several companies have expressed their readiness to operate in Iran. The country’s insurance industry has been affected by the reimposition of US sanctions by the…

The SingHealth cyberattack and the implications for financial institutions

The SingHealth cyberattack and the implications for financial institutions

The SingHealth cyberattack and the implications for financial institutions

In July 2018, news emerged that between 27 June and 4 July, hackers had infiltrated the IT systems of Singapore Health Services (SingHealth), the largest healthcare group in Singapore. The hackers illegally accessed and copied the non-medical personal particulars of 1,495,367 patients to servers hosted overseas. Approximately 159,000 of the affected group, including Prime Minister Lee Hsien Loong and several…

Flying into the future: Australian Senate Inquiry into drones

Flying into the future: Australian Senate Inquiry into drones

Flying into the future: Australian Senate Inquiry into drones

The long-awaited Australian Senate Inquiry report into the current and future regulatory framework for remotely piloted aircraft (drones) in Australia was released on 31 July 2018. The report was highly anticipated. During the 18-month period of consultation with operators, regulators and businesses, the Senate Inquiry committee heard that Australia is at the forefront of drones. Australia’s aviation regulator, the Civil…

US-China trade war and changing world order top business risks in 2019: Control Risks

US-China trade war and changing world order top business risks in 2019: Control Risks

US-China trade war and changing world order top business risks in 2019: Control Risks

There will be little time for multinationals to mourn the end of the post-war liberal consensus that brought about globalisation, as the developing US-China trade war, and the story it foretells about a new world order, becomes the defining geopolitical risk in 2019, according to Control Risks…

GDP at risk from cyberattack in largest cities rises 9% in one year

GDP at risk from cyberattack in largest cities rises 9% in one year

GDP at risk from cyberattack in largest cities rises 9% in one year

The amount of GDP at risk from cyberattack in the world’s largest cities has risen nearly 9% during the past year to $39.7bn, according to the 2019 Global Risk Index from the Centre for Risk Studies at the Cambridge Judge Business School. This has pushed cyber risk up one place in the ranking to sixth…

APAC banks’ digital plans slowed by cyber risk

APAC banks’ digital plans slowed by cyber risk

APAC banks’ digital plans slowed by cyber risk

The risk of cyberattacks is slowing the implementation of Asia-Pacific financial institutions’ digital transformation plans, according to new research. A report based on a survey carried out by Microsoft and research firm Frost & Sullivan, Understanding the Cybersecurity Threat Landscape in Asia-Pacific: Securing the Modern Enterprise in a Digital World, reveals that almost two thirds (63%) of financial institutions have…

Allianz to be China’s first fully owned foreign insurance holding company

Allianz to be China’s first fully owned foreign insurance holding company

Allianz to be China’s first fully owned foreign insurance holding company

Allianz has received approval from the China Banking and Insurance Regulatory Commission (CBIRC) to create an insurance holding company in China. The German insurer said that the company – Allianz (China) Insurance Holding Company Limited – will be the first-ever holding company in China to be wholly owned by a foreign insurer. The insurer said the Shanghai-based holding structure will…