panama papers

New Attacks Highlight Need for a New Approach to Cyber Protection

The occurrence of data breaches has increased in frequency and severity over the past several years. According to Identity Theft Resource Center (ITRC), 781 U.S. breaches were tracked in 2015, the second highest year on record since the ITRC began tracking breaches in 2005.

The occurrence of breaches was not constrained to any one sector, affecting various sectors including business, medical, financial and energy. Some of the more notorious breaches included Sony Pictures Entertainment, in which hackers used phishing emails to penetrate the company’s network to secure confidential data and the Ukraine Power Outage, in which hackers used a spearfishing vector to distribute “BlackEnergy” malware and facilitate a major power outage.

Panama Papers show there’s no place to hide in a data-centric world

The only guarantee of secrecy in the 21st century will be to have no secrets. In what is the biggest data set to fall into the hands of journalists, a treasure trove of data on tax avoidance and dodgy dealings by the so-called great and good has been laid bare.

The 2.6 terabyte leak of Panama-based shell company Mossack Fonseca has rocked the establishment worldwide, revealing a tawdry industry that involved banks, legal firms and asset management companies all centred on managing the estates of a motley crew of well-heeled types ranging from FIFA officials to politicians, celebrities, professional athletes, property developers and more.

‘Panama papers’ came from e-mail server hack at Mossack Fonseca

The staggering, Wikileaks-beating “Panama Papers” data exfiltration has been attributed to the breach of an e-mail server last year.

The leak of documents from Panama-based, internationally-franchised firm Mossack Fonseca appears to confirm what has long been suspected but rarely proven: well-heeled politicians, businesses, investors, and criminals use haven-registered businesses to hide their wealth from the public and from taxmen.

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