CSO Magazine

MARCH 22, 2022

Cybercrime can be a very lucrative career choice—if you don’t mind participating in illegal activity or the possibility of getting arrested. Unfortunately with the growth in Ransomware as a Service (RaaS) and the breadth of the cybercrime ecosystem , the challenge is not going away anytime soon. There is no question about it.

Cyber Insurance 83

Cyber Insurance Insurance Cybercrime Ransomware 83

Security Affairs

OCTOBER 20, 2024

CISA adds Fortinet products and Ivanti CSA bugs to its Known Exploited Vulnerabilities catalog Nation-state actor exploited three Ivanti CSA zero-days Dutch police dismantled dual dark web market ‘Bohemia/Cannabia’ macOS HM Surf flaw in TCC allows bypass Safari privacy settings Iran-linked actors target critical infrastructure organizations (..)

Data breaches 116

Data breaches Cybercrime Cyber Insurance Marketing 116

Hacker's King

DECEMBER 24, 2024

Expansion of Cyber Insurance As cyberattacks grow in frequency and scale, the demand for cyber insurance will surge. In 2025, insurers will refine their policies to cover new threats such as ransomware and supply chain attacks, providing businesses with financial safeguards against cyber losses.

Cybersecurity 59

Cybersecurity Cyber Insurance IoT Insurance 59

Security Boulevard

OCTOBER 21, 2024

One tactic is to get cyber insurance companies to stop reimbursements for ransoms. Insurance does nothing to reduce attacks, as it is a mechanism to transfer risk. However, security and insurance companies are the first to cast doubt on any plans that may disrupt their revenue streams.

Ransomware 75

Ransomware Insurance Cyber Insurance Government 75

Krebs on Security

JULY 24, 2018

Hackers used phishing emails to break into a Virginia bank in two separate cyber intrusions over an eight-month period, making off with more than $2.4 Now the financial institution is suing its insurance provider for refusing to fully cover the losses. Everest National Insurance Company did not respond to requests for comment.

Banking 198

Banking Insurance Computers and Electronics Cyber Insurance 198

The Hacker News

APRIL 10, 2023

With the increasing use of technology in our daily lives, cybercrime is on the rise, as evidenced by the fact that cyberattacks caused 92% of all data breaches in the first quarter of 2022. As technology advances, cyberattacks are becoming more sophisticated.

Cyber Insurance 101

Cyber Insurance Insurance Cybersecurity Data breaches 101

Security Affairs

FEBRUARY 21, 2023

Recently emerged HardBit ransomware gang adjusts their demands so the insurance company would cover the ransom cost. For those who have cyber insurance against ransomware attacks. But since the sneaky insurance agent purposely negotiates so as not to pay for the insurance claim, only the insurance company wins in this situation.

Insurance 98

Insurance Ransomware Cyber Insurance Malware 98

BH Consulting

FEBRUARY 24, 2025

At the end of January, police forces from eight countries took down two of the worlds largest cybercrime forums. Europol, which supported the forum takedowns, also published three reports : one, into the challenges in cybercrime and investigations involving digital evidence. But still, progress is progress.

Cyber Insurance 59

Cyber Insurance Insurance Ransomware Artificial Intelligence 59

The Last Watchdog

AUGUST 1, 2023

1, 2023 – Guardz , the cybersecurity company securing and insuring SMEs, today disclosed the existence of a Hidden Virtual Network Computing (hVNC) malware targeting macOS devices. About Guardz: Guardz is a holistic cyber security and insurance solution designed for SMEs. Tel Aviv, Israel, Aug.

Malware 189

Malware Insurance Cyber Insurance Small Business 189

Security Affairs

AUGUST 21, 2020

University of Utah officials explained that the university’s cyber insurance policy covered part of the ransom. “After careful consideration, the university decided to work with its cyber insurance provider to pay a fee to the ransomware attacker,” the university said today.”

Ransomware 145

Ransomware Cyber Insurance Insurance Advertising 145

Security Affairs

NOVEMBER 6, 2018

Group-IB and Swiss insurance broker ASPIS that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges. According to CryptoIns analysts, the crypto assets insurance market is expected to reach $7 billion by 2023. Why do crypto exchanges’ users need insurance?

Insurance 94

Insurance Cryptocurrency Cyber threats Marketing 94

Duo's Security Blog

OCTOBER 18, 2022

Tune into our upcoming webinar, “ Don’t Bet on Passwords, Use MFA to Insure Your Protection ,” to hear from Wolfgang Goerlich, an advisory CISO at Cisco Secure Access by Duo, an Matt Brooks, a Duo Product Marketing specialist. trillion USD annually by 2025?

Insurance 64

Insurance Passwords Cyber Insurance Authentication 64

Security Boulevard

JANUARY 20, 2023

Insight #2 " New this week was the release of a $45 million cyber catastrophe bond targeted at an extreme loss (up to $300 million) in a cyber breach. It is yet another level in cyber insurance. Cybercrime and nation-state attacks will continue to increase and businesses must protect themselves."

CISO 75

CISO Cyber Insurance Insurance Cybersecurity 75

Cisco Security

JANUARY 10, 2023

As a result of this, next year we could see CISOs tightening up the disclosure decision making process, focusing on quicker and greater clarity on breach impact, and even looking to include personal liability cover in cyber insurance contracts. Increasing demands from insurers. Getting the basics right.

CISO 142

CISO Insurance Cyber Insurance Phishing 142

SecureList

NOVEMBER 9, 2022

We can therefore expect that cybercrime groups from either block will feel safe to attack companies from the opposing side. will lead more people to poverty, which always translates to increased criminality (cyber or otherwise), and we know ransomware to be extremely profitable. Some may even perceive this as their patriotic duty.

Cybersecurity 145

Cybersecurity Cyber Insurance Cybercrime IoT 145

Security Affairs

JUNE 18, 2024

Over the last few years, ransomware attacks have become one of the most prevalent and expensive forms of cybercrime. 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.

Ransomware 140

Ransomware Cryptocurrency Insurance Cybercrime 140

SecureWorld News

NOVEMBER 12, 2020

This is partly driven by cyber insurance and a growing number of organizations seeing this insurance as a business necessity: "Although cyber insurance policies existed since early 2000, ransomware attacks are one of the main reasons for the increased interest in this type of insurance during the last 5 years.

Cyber threats 129

Cyber threats Insurance Cyber Insurance Ransomware 129

The Last Watchdog

OCTOBER 5, 2023

Acohido to share his ideas about the current cyber threat landscape, the biggest threats for businesses today, the role of AI and machine learning in cyberattacks and cyberdefence, and the most effective methods for companies to protect themselves. He previously chronicled the emergence of cybercrime while covering Microsoft for USA TODAY.

Cyber threats 203

Cyber threats Cyber Insurance Threat Detection Cybersecurity 203

SecureWorld News

SEPTEMBER 23, 2021

This ranges from Secret Service agents discussing elements of cyber hygiene with those they protect to tracking down cybercrime fugitives. The latest estimates are around 20% of actual ransomware instances get reported to law enforcement or insurance or regulators," Sheridan said. Cyber defense is about test, test, test.".

Ransomware 94

Ransomware Cyber Insurance Insurance Government 94

CyberSecurity Insiders

JANUARY 6, 2023

Thus, we are seeing the appearance of developments such as ransomware-as-a-service and the evolution of a cybercrime supply chain composed of distinct elements, each performing specialized functions that dovetail together into the eventual heist. Insurance Refusals and Rate Hikes. But not insurance companies.

Backups 136

Backups Ransomware Insurance Cyber Insurance 136

Security Affairs

MAY 1, 2020

Maze Ransomware ransomware operators recently disclose other attacks against different organizations, including IT services giant Cognizant , and cyber insurer Chubb. Banco BCR has yet to disclose the security breach. Please vote Security Affairs for European Cybersecurity Blogger Awards – VOTE FOR YOUR WINNERS [link].

Ransomware 145

Ransomware Banking Cyber Insurance Advertising 145

Malwarebytes

MARCH 10, 2021

This quickly became a mess of arguments over paying the ransom , and the world of cyber insurance and whether it would actually insure against these types of attacks. This seems a reasonable assumption; lots of consumer and business victims of cybercrime do not want to publicize it.

Ransomware 128

Ransomware Insurance Cyber Insurance Social Engineering 128

Digital Guardian

SEPTEMBER 1, 2023

but concerns over critical infrastructure, data privacy, and cyber insurance largely overshadow it. The operation against QakBot marks a cybersecurity win for the U.S., Catch up on these stories and more in this week’s Friday Five.

Cyber Insurance 52

Cyber Insurance Cybercrime Data privacy Insurance 52

SC Magazine

JULY 13, 2021

Estimates show cybercrime will cause $6 trillion in global damages this year and is predicted to reach $10.5 Lastly, the report warns entities not to rely on cyber insurance as the rates have skyrocketed in response to the rise in ransomware attacks. trillion, by 2025, a 75% increase.

Data breaches 113

Data breaches Insurance Healthcare Education 113

Security Affairs

FEBRUARY 25, 2024

Uninstall it immediately Microsoft Exchange flaw CVE-2024-21410 could impact up to 97,000 servers ConnectWise fixed critical flaws in ScreenConnect remote access tool More details about Operation Cronos that disrupted Lockbit operation Cactus ransomware gang claims the theft of 1.5TB of data from Energy management and industrial automation firm Schneider (..)

Spyware 129

Spyware Cyber Insurance Hacking Advertising 129

Andrew Hay

JULY 26, 2018

Though the breaches are concerning, the real story is that the financial institution suing its insurance provider for refusing to fully cover the losses. This, unfortunately, is the nature of insurance. Cyber security insurance cannot and should not, however, be viewed as your primary means of defending against an attack.

Insurance 45

Insurance Computers and Electronics Banking Cybercrime 45

SecureWorld News

MARCH 28, 2024

Having clear definitions gives cyber insurers a way to work with critical infrastructure on underwriting decisions based on these guidelines," Gallagher noted. billion implementation cost from 2023-2033 "modest compared to the scale of cybercrime." Gallagher called the estimated $2.6

Cyber Insurance 112

Cyber Insurance Government Insurance Cyber Risk 112

CyberSecurity Insiders

JUNE 22, 2023

Instead, the ransom pay can be covered from a cyber insurance policy, provided it is taken prior to the launch of the attack and covers the costs associated with the malware attack. Nope, says a renowned international bank from UK. They can provide guidance on how to proceed and may be able to assist in the investigation.

Ransomware 96

Ransomware Banking Cyber Insurance Insurance 96

Webroot

SEPTEMBER 7, 2023

Cybercrime is on the rise. billion to data breaches and cybercrime. billion to data breaches and cybercrime. This is all happening while companies are spending trillions digitizing their business operations and trying to obtain secure cyber insurance while keeping up with regulatory changes in GDPR, HIPAA, and Sarbanes-Oxley.

Encryption 119

Encryption Cyber Insurance Cybercrime Phishing 119

Security Boulevard

JUNE 8, 2021

Ultimately, organisations will need to cultivate a culture of security awareness and provide employees with relevant cyber training and resources to help minimise cyber risk and ensure individuals are fully equipped as they transition to this hybrid working style.

Cyber Insurance 105

Cyber Insurance Cyber Attacks Cyber threats Insurance 105

Webroot

SEPTEMBER 24, 2024

Nation-states are teaming up with cybercrime gangs Cybercrime is no longer just about lone hackers. Now, nation-states like Russia and China are working with organized cybercrime groups to launch highly targeted attacks on businesses, governments, and even individuals.

Cyber threats 112

Cyber threats Small Business Scams Cybercrime 112

SecureWorld News

OCTOBER 5, 2020

This was not about the cybercrime itself, but instead, the regulatory trouble your organization could face for facilitating ransomware payments. The Treasury Department says it declares certain ransomware gangs and cybercrime groups as sanctioned for their actions. Ransomware groups may be sanctioned; paying could be trouble.

Government 81

Government Ransomware Cyber Insurance Cybercrime 81

SecureWorld News

DECEMBER 2, 2020

We carry insurance, including cyber insurance, which we believe to be commensurate with our size and the nature of our operations. Which of the ransomware gangs or groups hit K12 Inc and its network in this cyber attack? Relying on cyber liability insurance during a ransomware attack.

Insurance 60

Insurance Cyber Insurance Ransomware Backups 60

Security Boulevard

JULY 30, 2022

However, deploying unproven artificial intelligence (AI) could result in unexpected outcomes, including a higher risk of cybercrime. Will cyber insurance continue to be an option that organizations can rely on? More and more businesses are using artificial intelligence (AI) to improve efficiency.

Cyber Attacks 110

Cyber Attacks Artificial Intelligence Education Cyber Insurance 110

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. The proliferation of these guides enables more individuals to enter the cybercrime arena.

Cyber Attacks 59

Cyber Attacks Phishing Ransomware Cyber Insurance 59

SC Magazine

JULY 14, 2021

In addition, having cyber insurance coverage in place does not guarantee an organization can recoup losses associated with a ransomware attack. Some 80% of respondents who paid a ransom say they experienced a subsequent attack.

Ransomware 98

Ransomware Cyber Insurance Financial Services Retail 98

SecureWorld News

SEPTEMBER 14, 2021

This is also true for victims of cybercrimes, too. The school district’s cyber insurance provided free credit monitoring, but many parents were still puzzled by how to report the problem and what steps they should take next to protect their children. Unfortunately, there is no perfect profile for a cybercriminal.

Cyber Insurance 98

Cyber Insurance Ransomware Insurance Backups 98