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Ransomware? Well, the stats are even scarier with over 50% increase in ransomware attacks in 2021, compared to 2020. The media paid close attention to ransomware attacks last year, as they had a significant impact on Colonial Pipeline, the nation’s largest fuel distributor, and JBS, the nation’s largest meat distributor.
If you are like 80% of respondents to the Trend Micro’s biannual Cyber Risk Index (CRI) report, you expect to experience a data breach that compromises customer data in the next 12 months. Learn the 7 keys to better risk assessment. | Get the latest from CSO by signing up for our newsletters. ].
Any lingering indifference to cybersecurity risk has evaporated in the face of spiking ransomware attacks, software supply chain threats , and the challenges of securing remote workers. Unsurprisingly, half of those surveyed said they had seen an increase in security incidents at their organizations over the past year.
New data highlighting fluctuations relating to ransomware attack and payment claims indicates significant shifts in the cyberthreat landscape. Learn the 7 keys to better risk assessment. | Get the latest from CSO by signing up for our newsletters. ]. Shifting ransomware priorities impacting claim costs.
In this Spotlight Podcast, host Paul Roberts talks with Chris Walcutt, the CSO of DirectDefense about the rising cyber threats facing operational technology (OT) and how organizations that manage OT - including critical infrastructure owners can best manage increased cyber risks to OT environments. Read the whole entry. »
On February 4, 2021, New York became the first state in the nation to issue a cybersecurity insurance risk framework to all authorized property and casualty insurers. Get the latest from CSO by signing up for our newsletters. ]. Get the latest from CSO by signing up for our newsletters. ].
Dimitri Chichlo , CSO, BforeAI Chichlo Our networks remain fragile because of interdependence and the assumption that technology always works. Will we also see a wave of ransomware attacks that follow? Additionally, conducting tabletop exercises for catastrophic failures and analyzing supply chain risks are crucial.
I don’t know how many times I’ve heard cybersecurity professionals say something like, “Not having multi-factor authentication is a huge risk for our organization.” The real risk is the probability of a ransomware incident, for example, or the leak of personally identifiable information (PII) from a customer database.
From a cybersecurity standpoint, organizations are operating in a high-risk world. The ability to assess and manage risk has perhaps never been more important. When it isn’t, organizations will likely find themselves the target of a data breach or ransomware attack, or be vulnerable to any number of other security issues.”
Check out best practices for shoring up data security and reducing cyber risk. 1 - CSA: How to boost data security and reduce cyber riskRisk assessment gaps. 1 - CSA: How to boost data security and reduce cyber riskRisk assessment gaps. Plus, get tips on how to improve job satisfaction among tech staff.
Since then, we've witnessed a wide range of attacks: Stuxnet destroyed almost a fifth of Iran's nuclear centrifuges, WannaCry infected computers in 150 countries, ransomware gangs stole millions of US dollars, and thousands of companies have been affected by data breaches. To read this article in full, please click here (Insider Story)
Last year, before the onset of the Russia-Ukraine war, nearly 75% of cryptocurrency payouts for ransomware went to Russia, according to a study conducted by Chainanalysis. Let that sink in a moment. Then consider the legal ramifications of paying those ransoms now that Russia is a sanctioned country.
The rise of ransomware attacks that occurred after the global pandemic in March 2020 remains a problem. However, ransomware is not the only threat. According to a new report from IDC and Magnet Forensics, the significant lack of cybersecurity skills gap and a plethora of other cyber risks are growing concerns.
Global organizations say they are increasingly at risk of ransomware compromise via their extensive supply chains. Fifty-two percent of the global organizations surveyed say they have a supply chain partner that has been hit by ransomware.
State-sponsored threat groups increasingly use ransomware-like attacks as cover to hide more insidious activities. All these operational changes suggest organizations and companies from Western countries are at increased risk from APT activity. To read this article in full, please click here
The evolution of cybercrime is weighing heavily on digital forensics and incident response (DFIR) teams, leading to significant burnout and potential regulatory risk. That’s according to the 2023 State of Enterprise DFIR survey by Magnet Forensics , a developer of digital investigation solutions.
Every day, clients come to us with questions about ransomware and how to best prepare their organizations against potential attacks. This is perhaps one of the most vexing challenges in cybersecurity as ransomware attack methods, motivation, and barriers to entry are constantly evolving. Why have these attacks grown?
There's one surefire way to end ransomware once and for all: Stop paying. If every organization that suffered a ransomware attack refused to pay up, the threats would lose their income stream, and the work would dry up leading to the end of these attacks as we know them. Simple, right? It turns out, not so much.
A cybersecurity advisory about the ransomware known as Maui has been issued by the FBI, CISA and U.S. The FBI surmises that the threat actors are targeting healthcare organizations because those entities are critical to human life and health, so they're more likely to pay ransoms rather than risk disruption to their services.
Cyber insurance provider At-Bay has announced the launch of a new InsurSec solution to help small-to-mid sized businesses (SMBs) improve their security and risk management postures through their insurance policy. The emergence of InsurSec technology reflects a cyber insurance landscape that has seen significant change recently.
A wave of digital initiatives by organizations worldwide has created an explosion of human and machine identities that are increasing the exposure of those organizations to ransomware and supply chain threats, according to CyberArk's 2022 Identity Security Threat Landscape report released Tuesday.
Prior to launching CyberSaint, Wrenn was CSO of Schneider Electric, a supplier of technologies used in industrial control systems. The participation led to the idea behind CyberSaint The company supplies a platform, called CyberStrong, that automatically manages risk and compliance assessments across many types of frameworks.
And get the latest on ransomware trends and on cybercrime legislation and prevention! Cybersecurity and Infrastructure Security Agency (CISA) and the Federal Bureau of Investigation (FBI) called buffer overflow vulnerabilities unforgivable defects that put national and economic security at risk. Mike Rounds (R-S.D.)
Cybercriminals have honed in on the influx of new devices connected to the home network as an opportunity to execute ransomware attacks, steal information, or compromise public school district’s security defenses.
2021 will be known as another year full of painful ransomware. In fact, according to our 2021 Digital Defense Report , ransomware attacks have evolved significantly to now include crippling network-wide attacks using multiple extortion methods to target both your organization’s data and reputation, all enabled by human intelligence.
What is the best way for a small- to medium-sized business (SMB) to protect itself from ransomware? Ransomware is impacting firms around the world. Mandiant has indicated that ransomware is on the rise and doesn’t appear to be slowing down one bit. Have a backup plan and tested recovery process.
While this helps achieve operational efficiency, as the data center infrastructure is more distributed and as the attack surface continues to evolve and reveal more security blind spots, distributed networks reduce visibility and increase the risk of breaches or attacks. To read this article in full, please click here
Moreover, there was an attempt to breach systems at the Ministry of Health of Costa Rica, a country that was the victim of a large ransomware attack this year. The Colombian National Institute for Drug and Food Surveillance (INVIMA) was also attacked. To read this article in full, please click here
Reliance on VPNs for remote access is putting enterprises at significant risk as social engineering , ransomware , and malware attacks continue to advance, exposing businesses to greater risk, according to a new report by cloud security company Zscaler. To read this article in full, please click here
Each year it gives me an insight into what insurance vendors are using to rate the risks and threats to our business and what they are stressing I should have as best practices. This year was interesting because it asked for specific ransomware prevention techniques and protections. Here are the questions that stood out.
Organizations will face significant challenges in purchasing, renewing, and benefitting from cyber insurance policies this year as various factors drive the sector towards a stricter, more specialized position, global specialists in law, risk, and cybersecurity predict. To read this article in full, please click here (Insider Story)
Given the magnitude of the problem, could taking a more risk-based approach to security pay off? Given the magnitude of the problem, could taking a more risk-based approach to security pay off? Also joining us: Sam Curry, the CSO of Cybereason. A Risk Eye on the Election Guy. Read the whole entry. »
In May the US Colonial Pipeline shut its operational network after a ransomware cyber-attack. The first relates to reports that there was no Chief Security Officer (CSO) in place. The first relates to reports that there was no Chief Security Officer (CSO) in place. It’s said to be one of the costliest attacks for an economy.
Nations across the globe are taking regulatory action to reduce the ransomware threat. ransomware reporting requirements were signed into law. Report ransomware payments within 24 hours after they have been made. Submit any new or different information that becomes available surrounding the ransomware attack to CISA.
A ransomware sortie on Colonial Pipeline forced its owners to shut down operations and leave half the country's East Coast in a lurch for refined oil. Since that time, efforts have aimed at making the nation's critical infrastructure more resilient and to counter the scourge of ransomware.
A new study from cybersecurity vendor Bitdefender revealed that this is a reality for more than two-fifths of IT professionals—putting both organizations and individuals at risk.
Machine identities now outnumber humans in enterprises, according to Nathanael Coffing, co-founder and CSO of Cloudentity. Gartner’s list of the top security risks and trends for 2021 included machine identity management for the first time. Poor Machine Identity Management Introduces Risks. Machine Identity Risks Go Overlooked.
Over two-thirds (69%) of security leaders in Asia are confident about their organization’s cybersecurity resilience, even as 48% also admit that there is still room for improvement, a new joint study by Microsoft and risk advisory firm Marsh has found.
Ransomware continued its ruthless path across industries, often putting lives at risk. Ransomware attacks have also become increasingly simple to carry out with toolkits, such as in the case of the Colonial Pipeline attack that disrupted businesses and daily life for many businesses and individuals.
economy, according to Dr. Alissa Abdullah, Deputy CSO at MasterCard. Related Stories Episode 214: Darkside Down: What The Colonial Attack Means For The Future of Ransomware Episode 218: Denial of Sustenance Attacks -The Cyber Risk To Agriculture Deere John: Researcher Warns Ag Giant’s Site Provides a Map to Customers, Equipment.
As the frequency and severity of ransomware, phishing, and denial of service attacks has increased, so has demand for cyber insurance. Some companies see it as essential to their risk management strategy,” says Heather Engel, managing partner at advisory firm Strategic Cyber Partners. To read this article in full, please click here
The security of critical infrastructure has been high on the agenda in 2023, with cyberattacks and other risks posing a persistent threat to the technologies and systems relied upon for essential services such as energy, food, electricity, and healthcare. To read this article in full, please click here
Contracting firms that have access to crypto currency and know how to negotiate with ransomware attackers. That’s why CSO’s Future of InfoSec Summit is a must-attend event. Taking place virtually March 8 and 9, the event will take a 360-degree look at managing information risk.
Cybersecurity risk assessment company Safe Security on Tuesday rolled out two new online risk assessment tools for businesses to use, in order to help them understand their vulnerability to cyberattacks and the costs of insuring against them. Risk tools measure financial impact of cyberthreats.
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