Top CyberSecurity News For 15th May 2016

  1. This 1 Simple Equation Describes Cybersecurity in a Nutshell. From Fortune. How do you calculate risk? It’s simple, according to Michael Hayden, former head of the U.S. National Security Agency and later the Central Intelligence Agency. The ex-spy boss boiled the concept down to its basics at a computer security conference earlier this week. Here’s the formula he presented on a slide: Risk = threat x vulnerability x consequence

  2. New York Fed defends fund transfer after Bangladesh heistFrom Reuters.  After an $81 million cyber heist at the Bangladesh central bank, the Federal Reserve Bank of New York said there was no problem with its procedures for approving fund transfers, according to a letter released on Friday by a U.S. lawmaker who had questioned those methods. U.S. Representative Carolyn Maloney had called for a probe of the fund transfers triggered by the February cyber attack on the Bangladesh central bank.

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