Security Affairs

JUNE 18, 2024

In some cases, attackers are even leveraging the threat of regulatory actions or causing cyber insurance policies to be rendered moot by reporting lapses in security on the part of the victim to regulators and insurers. This ROI makes ransomware a compelling business model for criminals, so it is soaring in popularity.

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SecureWorld News

AUGUST 21, 2020

The end result was hefty payment: "After careful consideration, the university decided to work with its cyber insurance provider to pay a fee to the ransomware attacker. The University made the payment in cryptocurrency, through a third party firm. And number one is cyber insurance.

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SecureWorld News

SEPTEMBER 23, 2021

His unique insights around cybersecurity-related topics shine a light on ransomware risk for organizations, government agencies, and the public. It starts with having a robust strategic plan that focuses on risk management. Testing is also an important part of risk management, and this is integral to successful risk management plans.

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Ransomware Cyber Insurance Insurance Government 95

SecureList

NOVEMBER 9, 2022

The ongoing geopolitical storm brings not only classical cyberthreats for business, but also unpredictable risks and ‘black swans’ The main problem for 2023 will be supply-chain stability and cybersecurity. In 2023, we might see a slight decline in ransomware attacks, reflecting the slowdown of the cryptocurrency markets.

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CyberSecurity Insiders

DECEMBER 18, 2022

Cyber attribution and deciphering the extent of state-level tasking is difficult, with blurred lines between state-aligned, state-involved and state-directed increasing the risk of escalation, collateral and misattribution. 3 – Crypto-jacking neglect gets dangerous. 3 – Crypto-jacking neglect gets dangerous.

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Digital Shadows

NOVEMBER 26, 2024

Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyber insurance. Ransomware attacks, in particular, pose a significant risk, though some sectors and regions are more vulnerable than others.

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Cyber Attacks Phishing Ransomware Cyber Insurance 59

SecureWorld News

NOVEMBER 1, 2021

A compounding problem of this complexity is that the responsibility of managing these risks often falls to those with the least capabilities: individuals, small businesses, and local governments. RESOURCE] Listen to the recent SecureWorld podcast episode featuring U.S. Secret Service Assistant Director Jeremy Sheridan.

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SC Magazine

JUNE 15, 2021

In that sense, leaders across the executive team are being briefed about the likelihood of attack, and weighing potential costs tied to risk against nearer term cybersecurity investments. They’re not going to save $250,000 at the risk of, say, $5 million,” Corll added. Will our cyber insurer buy it or would we?”

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Security Boulevard

JUNE 29, 2024

Powered by WormGPT and FraudGPT, hackers and scammers will continue to drive the cost of business higher as organizations pay more for cyber insurance. Businesses wanting to meet compliance mandates, lower their cyber insurance premiums, and reduce their security operations costs need to invest in AI for cyber defense.

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Centraleyes

DECEMBER 16, 2024

Tools like ChatGPT and Bard, powered by large language models, showcase how generative AI transforms business processesbut they also pose new risks. In a recent survey, 93% of respondents admitted to knowingly increasing their companys cybersecurity risks. The challenge? Securing these AI models and the data they generate.

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Thales Cloud Protection & Licensing

AUGUST 11, 2021

million) before crooks could transfer funds away from their cryptocurrency wallet, this newsmaking breach demonstrated how lucrative this foul play could get. Ransomware incidents covered by cyber insurance policies. The insurer provides funding to the insured parties in the event they suffer ransomware invasion.

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eSecurity Planet

FEBRUARY 16, 2021

For access to the decryption key, the victim must make prompt payment, often in cryptocurrency shielding the attacker’s identity. Below we outline 18 industry tips for actions you can take to reduce your risk of a ransomware attack: Action. Unregulated use of new or unique devices poses an unnecessary risk to your network.

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NetSpi Executives

APRIL 27, 2024

Victims pay ransomware adversaries for decryption keys through cryptocurrency, such as Bitcoin. Some can’t afford not to pay, and some are covered by cyber insurance. Should I get a ransomware cyber insurance policy? Many organizations have used cyber insurance to recover from ransomware attacks.

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CyberSecurity Insiders

APRIL 30, 2021

In the past 12 months alone, we’ve seen ransomware attacks delay lifesaving medical treatment, destabilize critical infrastructure, and put our national security at risk. These actions must be carried out in full, and as a collaborative, cohesive strategy, as each element on its own is insufficient to address this growing problem.

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Ransomware Government Cyber Insurance Cybercrime 52

Pen Test

OCTOBER 10, 2023

Victims are instructed to pay a ransom payment, usually demanded in cryptocurrency, in exchange for the decryption key. Double extortion introduces catastrophic risks of data breach and loss of customer trust if sensitive information gets leaked publicly. Have notification procedures and press releases ready. Seek adequate coverage.

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Ransomware Backups Insurance Cyber Insurance 52

Security Boulevard

JUNE 15, 2021

Ransomware attacks have continued to make headlines, and for good reason: on average, there is a new ransomware attack every 11 seconds, and the losses to organizations from ransomware attacks is projected to reach $20 billion over the course of 2021 following a record increase in losses of more than 225% in 2020.

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Digital Shadows

NOVEMBER 26, 2024

Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyber insurance. Ransomware attacks, in particular, pose a significant risk, though some sectors and regions are more vulnerable than others.

Cyber Attacks 52

Cyber Attacks Phishing Ransomware Cyber Insurance 52

Spinone

OCTOBER 13, 2020

Whether it is synchronized files from on-premises to cloud environments or the risk of encryption of cloud email, ransomware is a real threat to your data. Ransom payments are generally demanded in the form of untraceable cryptocurrency such as Bitcoin. How much can ransomware cost your business?

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ForAllSecure

MAY 30, 2023

of cryptocurrency. It reduces your exposure to a larger set of risks. So focusing on those basics can help prevent you from being impacted by some of the more opportunistic threats and and really just, you know, limit your potential exposure to risk. By no means. Does that mean that there was no ransomware occurring?

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Ransomware Encryption Authentication Backups 40

Security Affairs

NOVEMBER 5, 2023

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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