The EU is set to introduce new regulations that will see financial services firms having to show how quickly they could recover from a cyberattack .

This comes as regulators fear their increasing reliance on a small pool of cloud vendors could result in downtime at a range of banks due to an outage at just one of the major cloud players .

Thomas Eeles , CSIRT manager at Orange Cyberdefense , Europe ’ s largest MSSP , says : “ A major part of incident response , especially when dealing with large scale incidents , is recovery and remediation .

“ It is abundantly clear to those in the industry which companies have a disaster recovery plan , and which don ’ t . From my perspective , those that don ’ t have a recovery plan always – without fail – end up spending more money and time on recovery than on the actual investigation itself . I would say this reaches a rough 70 / 30 split .

“ Businesses that do have a recovery plan will save time and money by planning their recovery strategy before it ’ s needed .”

� KEYLOGIC SYSTEMS KeyLogic Systems – an analytics , IT transformation , and research and engineering firm – has been awarded a prime contract from the US Department of Energy ' s ( DOE ) National Energy Technology Laboratory ( NETL ) for strategic analysis support services . The five-year contract is initially valued at US $ 99mn . NETL is one of the 17 national laboratories operated by DOE and focuses on America ' s economic prosperity via its energy , environmental , and nuclear challenges through foundational science and transformative technology solutions .

� GLOBAL HOMELAND SECURITY MARKET The global homeland security market was valued at US $ 675.4mn in 2021 and is projected to grow at a CAGR of 5.89 % during the forecast period 2022-2032 . The global market is expected to reach US $ 872.6mn in the year 2026 , whereas it is anticipated to reach US $ 1,252.8mn in 2032 . The results came from Visionagain ’ s new report entitled the Homeland Security Market Report 2022-2032 .

�PAYPAL A new scam is tricking unsuspecting people out of their hard-earned cash as fraudsters pretend to be from PayPal . A TikToker has taken to social media to warn others how she fell for an incredibly clever and deceptive Paypal scam to raise awareness so that it doesn ’ t happen to other people . Tori Powis- Dodson said she fell for the scam and lost more than £ 100 .

� MEDIBANK Hackers that stole customer data from Australia ' s largest health insurer Medibank have now released a file of pregnancy terminations . It follows Medibank ' s refusal to pay a ransom for the data , a move supported by the Australian government . Medibank urged the public to not seek out the files , which contain the names of policy holders rather than patients . CEO David Koczkaro warned that the data release could prevent people from seeking medical attention .