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The shift to digital experiences and customer service in industries that were historically only brick-and-mortar underscores how rapid digitaltransformation expands the attack surface for cybercriminals. All the new points of sale (POS) and customer touchpoints increase the access points that bad actors can exploit.
Over the last few years, ransomware attacks have become one of the most prevalent and expensive forms of cybercrime. Today, this tactic has evolved, where ransomware operators in nearly every case first exfiltrate sensitive data and then threaten to publicly expose it if a ransom demand is not paid.
A lawsuit working its way through the courts could have a lot to say about the liabilities facing organizations that have been hit by ransomware attacks – and could have implications for cybersecurity preparation and regulation in general. Hospital’s Operations Hit by Ransomware. ” CyberInsurance No Longer Reliable.
Ransomware. Cyber Espionage. So that is the top 15 list of cyber threats according to the European Union. We can't look at all of these categories, but let's talk about the number one cyber attack threat of malware. Researchers also found that file-less ransomware skyrocketed and that trend makes sense.
In March 2018, the city of Atlanta fell victim to a ransomware attack that shut down its computer network. State and local governments are not immune to the digitaltransformation so their dependence on IT is as high as it’s ever been,” says Ananth. City agencies were unable to collect payment. Years of data disappeared.
Even with ransomware costing billions of dollars in losses and cyberinsurance claims, organizations are still impacted beyond the checkbook. These attacks have driven the cost of cyberinsurance premiums higher. Cyberinsurance has become more critical to organizations to help offset the risk to the company.
It doesn’t matter how good their cyber hygiene, endpoint protection or event analytics are. Ransomware groups are here to stay, and AD is a huge attack vector they are exploiting in order to move laterally. I think we will see an increase in ransomware attacks/families and “professional ransomware,” as well as more widespread impacts.
Some saw this as a typical ransomware attack, albeit on a vulnerable target. So we have to be a little pragmatic also when it comes to drawing boundaries… as digitaltransformation takes over OT, OT and IT get closer together.” ” When it comes down to it, “OT is a production element.
5 Trends to Watch for Cybersecurity in 2023 – "From advancements in artificial intelligence (AI) to the continued evolution of ransomware and cyberattacks, the coming year is sure to bring significant developments in the world of cybersecurity. And digitaltransformation could spark zero-trust projects.".
Click here to watch the roundtable and learn about the future of cyberinsurance from leading experts. In partnership with Cysurance, BlastWave hosted a roundtable entitled “The Future of CyberInsurance and MSP Insurability. The expert panelists held an honest discussion about insurability difficulties for MSPs.
In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyberinsurance. In the first segment, we talk with Thomas Harvey of the firm RMS about the problem of “silent cyber” risk to insurers and how better modeling of cyber incidents is helping to address that threat.
As a result, organizations can make more informed decisions to incorporate security best practices, track compliance to minimize risk of regulatory penalties and build trust among investors and cyberinsurance underwriters.
Just like in previous years, 2024 is set to test practitioners’ skills as the frequency of cyber threats continues to surge leaving no room for complacency. DigitalTransformation In 2024, several trends are expected to shape the landscape of digitaltransformation. Here are my predictions for 2024.
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