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The Payment Card Industry Security Standards Council has said that U.K. firms could face fines of up to £122 billion ($150 billion) for cyber security breaches in 2018, thisismoney.co.uk reports. Around £52 billion would be levied on small to medium-size enterprises. Small businesses are victims of more than seven million cybercrimes a year, costing the sector £5.26 billion.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms