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We are seeing increased use of AI to automate attacks, including malware generation and phishing campaigns. Insurance Becomes a Necessity The rise of high-profile cyberattacks has led to increased demand for cyberinsurance. Ensuring visibility, control, and data protection across these environments will be paramount.
Cyberinsurance becomes mainstream discussion. As cyberattacks have become more costly and more challenging to track, cyberinsurance has gained prominence across the industry. The cyberinsurance market is expected to reach around $20B by 2025. Cyber Resilience planning puts focus on recovery readiness.
AIG is one of the top cyberinsurance companies in the U.S. Today’s columnist, Erin Kennealy of Guidewire Software, offers ways for security pros, the insurance industry and government regulators to come together so insurance companies can continue to offer insurance for ransomware. eflon CreativeCommons CC BY 2.0.
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In some cases, attackers are even leveraging the threat of regulatory actions or causing cyberinsurance policies to be rendered moot by reporting lapses in security on the part of the victim to regulators and insurers. Developers author sophisticated ransomware variants and provide regular updates to ensure their efficacy.
Phishing attacks are going to become even more sophisticated, since a lot of basic tactics have already been tried this year, and businesses learned to repel those. Arthur Laudrain, Strategic Analyst (Cyber Program), The Hague Centre for Strategic Studies. Yury Slobodyanuk , head of content filtering research, Kaspersky.
Key Points Phishing incidents rose during the reporting period (August 1 to October 31, 2024), accounting for 46% of all customer incidents. This increase is likely driven by high employee turnover and easy access to phishing kits. Meanwhile, “RansomHub” is rising rapidly due to its attractive ransomware-as-a-service (RaaS) model.
A recent domain hijack of Japanese cryptocurrency exchange Coincheck.com was used to spoof the company in a spear-phishing campaign. . “They had all of our traffic and we were losing thousands of dollars daily in revenue.” ” Hacking campaigns exploiting poor domain name security can be more subtle.
The variety show of phishing attacks – While email remains number one for phishing attacks, cybercriminals are also using a variety of other attack routes to trick their intended victims into giving up personal information, login credentials, or even sending money. Cyber Security Awareness Training . Eradication.
In 2023, ‘knowing thy enemy’ in cyber will be more complicated than ever before – but it is critical that organizations remain aware of the realities of cyber risk and cease to focus on the ‘boogie man’ of the internet that features in sensationalist reporting. 3 – Crypto-jacking neglect gets dangerous.
Powered by WormGPT and FraudGPT, hackers and scammers will continue to drive the cost of business higher as organizations pay more for cyberinsurance. AI-Powered Email Phishing 91% of all cyberattacks start with email phishing. These data sets provide the specifics for hackers to adjust their phishing attacks.
Key Points Phishing incidents rose during the reporting period (August 1 to October 31, 2024), accounting for 46% of all customer incidents. This increase is likely driven by high employee turnover and easy access to phishing kits. Meanwhile, “RansomHub” is rising rapidly due to its attractive ransomware-as-a-service (RaaS) model.
For access to the decryption key, the victim must make prompt payment, often in cryptocurrency shielding the attacker’s identity. As ransomware keeps at its current pace, we see a boom in cyberinsurance sales (see Ransomware Insurance: CyberInsurance May Be the Best Protection ).
Victims pay ransomware adversaries for decryption keys through cryptocurrency, such as Bitcoin. Attackers guess the passwords easily, find them in open source code repositories, or collect them via phishing. Some can’t afford not to pay, and some are covered by cyberinsurance. How does ransomware fuel criminal activity?
We are seeing increased use of AI to automate attacks, including malware generation and phishing campaigns. Insurance Becomes a Necessity The rise of high-profile cyberattacks has led to increased demand for cyberinsurance. Ensuring visibility, control, and data protection across these environments will be paramount.
Ransom payments are generally demanded in the form of untraceable cryptocurrency such as Bitcoin. Implement good email phishing/SPAM filtering to help filter out obvious malicious SPAM emails with infected links, attachments, and other files. Just the ransom payment alone can be tremendously expensive.
As long as humans are well……human, phishing attacks will lead to ransomware infecting more and more networks, and businesses, municipalities and other organizations will continue to pay whatever they must in order to regain control of their data and systems. You’re going to have personal cyberinsurance.
CISA adds two F5 BIG-IP flaws to its Known Exploited Vulnerabilities catalog Threat actors actively exploit F5 BIG-IP flaws CVE-2023-46747 and CVE-2023-46748 Pro-Hamas hacktivist group targets Israel with BiBi-Linux wiper British Library suffers major outage due to cyberattack Critical Atlassian Confluence flaw can lead to significant data loss WiHD (..)
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