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 141

Ransomware Cryptocurrency Insurance Cybercrime 141

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

Security Boulevard

JUNE 8, 2021

Human error is still the number one cause of cyber attack and home working could make this even more prominent. In 2020, Verizon found that 67% of cyber attacks were down to phishing and Business Email Compromise.

Cyber Insurance 105

Cyber Insurance Cyber Attacks Cyber threats Insurance 105

Adam Levin

MARCH 16, 2020

That is exponentially more expensive than other cyber events. Consider that the average cost for a ransomware attack against a business is about $4,400, and your run of the mill phishing incident weighs in at a much less hefty $500. So Isn’t BEC Just Another Form of Phishing? BEC has a home In the pantheon of ishings.

Scams 130

Scams Identity Theft Phishing Accountability 130

SC Magazine

JULY 13, 2021

Estimates show cybercrime will cause $6 trillion in global damages this year and is predicted to reach $10.5 The data supports a June Avanan report , which confirmed health care has been among the most targeted with phishing attacks during the first half of 2021, alongside the IT and manufacturing industries. Another 20.7%

Data breaches 113

Data breaches Insurance Healthcare Education 113

Malwarebytes

FEBRUARY 3, 2023

As the reports covering all of 2022 start trickling in, we can see that cybercrime and other types of fraud had a major impact last year. Businesses Many financials not only carry the burden of protecting their customers, but are also at risk of falling victim to cybercrime themselves.

Scams 94

Scams Banking Cyber Insurance Cybercrime 94

Security Boulevard

JULY 30, 2022

However, deploying unproven artificial intelligence (AI) could result in unexpected outcomes, including a higher risk of cybercrime. Ransomware, the attack on management consoles, and whale phishing continue to spread across new attack surfaces in organizations. Information Manipulation — Nothing Knew in Cybersecurity.

Cyber Attacks 110

Cyber Attacks Artificial Intelligence Education Cyber Insurance 110

SecureWorld News

OCTOBER 19, 2023

Increased risk of cyberattacks The rising cost of living can lead to an increase in cybercrime, as people become more desperate to make money. Additionally, cybercriminals may be able to use inflation to their advantage, such as by sending phishing emails that appear to be from legitimate companies offering discounts or assistance.

Cybersecurity 102

Cybersecurity CISO Education Phishing 102

Webroot

SEPTEMBER 27, 2024

From ransomware attacks to phishing scams, hackers are becoming more sophisticated. Nation-states are teaming up with cybercrime gangs Cybercrime is no longer just about lone hackers. China is focusing on its political goals in the South China Sea, often collaborating with cybercrime rings like Storm-0558.

Cyber threats 59

Cyber threats Small Business Scams Cybercrime 59

SecureWorld News

NOVEMBER 22, 2021

According to the Federal Bureau of Investigation (FBI), losses due to BEC scams since 2013 total around $28 billion dollars and it is the most profitable cybercrime there is. If you have cyber insurance, will it cover some or all BEC incidents? That's where the value of a BEC Incident Response Plan (BEC-IRP) really shines. .

Scams 98

Scams Cybercrime Accountability Banking 98

SecureWorld News

MAY 5, 2023

Our team has handled several ransomware attacks by the Royal threat actor group, and each of those started with a callback phishing attack that exploited people, first, to gain initial access into the network, so it would not surprise me if that is what happened in this attack on the City of Dallas, as well.

Ransomware 98

Ransomware Cyber Risk Cyber Insurance Social Engineering 98

Cytelligence

JANUARY 27, 2020

Threat actors attack tactics include the following: Phishing – using a phishing email the workstation is infected and access provided to the ransomware threat actors. Unfortunately, the citizens of the country had to pay the ransom as the city had no cyber insurance. Learn more about the different ransomware variants.

Ransomware 53

Ransomware Cyber Insurance Insurance Encryption 53

SecureWorld News

AUGUST 23, 2023

The 'it could never happen here' mentality disappears when data breaches, usually from phishing attacks, are literally happening everywhere, in every industry, to companies of all sizes. What's important now is for executive leadership to have that same sense of urgency as infosec leaders.

Cybersecurity 96

Cybersecurity Cyber Risk Risk Cyber Insurance 96

SecureWorld News

APRIL 1, 2021

This is the first factor mentioned in the report and addresses how cybercrime groups might be more organized than you would think. Furthermore, when an organisation has a cyber insurance policy, it might be able to claim the ransom back, which may encourage payment. We will take a look at each of these contributing factors.

Ransomware 57

Ransomware Cyber Insurance Social Engineering Cybercrime 57

eSecurity Planet

FEBRUARY 16, 2021

The Ryuk ransomware family spawned in 2018 from a sophisticated Russia-based cybercrime group. As ransomware keeps at its current pace, we see a boom in cyber insurance sales (see Ransomware Insurance: Cyber Insurance May Be the Best Protection ). Make a plan to beef up your defenses against ransomware.

Ransomware 97

Ransomware Backups Software Encryption 97

Spinone

OCTOBER 13, 2020

It has been noted that paying a ransom demand only encourages this type of cybercrime and funds it. Implement good email phishing/SPAM filtering to help filter out obvious malicious SPAM emails with infected links, attachments, and other files. Should You Pay the Ransom?

Ransomware 52

Ransomware Backups Data breaches Encryption 52

Digital Shadows

NOVEMBER 26, 2024

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.

Cyber Attacks 59

Cyber Attacks Phishing Ransomware Cyber Insurance 59

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. From Security Awareness to Culture Change.

CISO 141

CISO Insurance Cyber Insurance Phishing 141

Digital Shadows

NOVEMBER 26, 2024

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.

Cyber Attacks 52

Cyber Attacks Phishing Ransomware Cyber Insurance 52

SecureWorld News

NOVEMBER 12, 2020

First, however, let's look at the top 15 cyber threats organizations face right now, according to the report: Malware. During the reporting period, Emotet evolved into a botnet, increased its activity, and initiated new localized spam campaigns with spear-phishing functionality to install ransomware or steal information.". Data Breach.

Cyber threats 126

Cyber threats Insurance Cyber Insurance Ransomware 126

BH Consulting

JUNE 13, 2023

Verizon points out that cybercrime risk crosses all sectors regardless of industry vertical, but it provides 10 sectoral snapshots to help readers understand the threats in more depth. Finance fraud and phishing scams increase in Ireland, too Financial fraud and scams in Ireland have risen by 560 per cent in three years.

Social Engineering 52

Social Engineering Data breaches Scams DDOS 52

The Last Watchdog

DECEMBER 15, 2024

Revelations linked Chinese intelligence to contractors, Russian GRU officers to data destruction, and Iranian APTs to cybercrime collaboration. treats ransomware as state-sponsored terrorism, countermeasures could become far more aggressive, reshaping the fight against cyber threats. If the U.S.

Cybersecurity 290

Cybersecurity Cyber threats CISO Energy and Utilities 290

Adam Levin

MARCH 2, 2020

And it wasn’t because the media paid more attention to this relative newcomer in the area of cybercrime. Phishing attacks, unpatched software vulnerabilities, and ransomware attacks all amount to an exercise of futility. If your company already has cyber insurance coverage, consider increasing it.

Cyber threats 215

Cyber threats Ransomware Encryption Insurance 215

Jane Frankland

JANUARY 12, 2025

In this blog, I’m exploring these changes, grouped under key categories that I’ve used in previous years, to help business leaders and cyber risk owners better prepare for the evolving landscape. An insider unknowingly clicking a phishing link or downloading a malicious file could leave the door wide open for attackers.

Cybersecurity 130

Cybersecurity CISO Insurance IoT 130

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 (..)

Cyber Insurance 129

Cyber Insurance Cryptocurrency Internet Internet 129