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Insurance and Ransomware

Schneier on Security

Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals.

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First American Financial Corp. Leaked Hundreds of Millions of Title Insurance Records

Krebs on Security

The Web site for Fortune 500 real estate title insurance giant First American Financial Corp. based First American is a leading provider of title insurance and settlement services to the real estate and mortgage industries. According to the FBI, BEC scams are the most costly form of cybercrime today. Image: Linkedin.

Insurance 279
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Change Healthcare data breach exposed the private data of over half the U.S.

Security Affairs

Change Healthcare can confirm we are experiencing a cybersecurity issue perpetrated by a cybercrime threat actor who has represented itself to us as ALPHV/Blackcat. However, after a $22 million transaction, an affiliate publicly complained on a Russian cybercrime forum, alleging that BlackCat did not pay their fee. population.”

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Ransomware Victims That Pay Up Could Incur Steep Fines from Uncle Sam

Krebs on Security

” As financial losses from cybercrime activity and ransomware attacks in particular have skyrocketed in recent years, the Treasury Department has imposed economic sanctions on several cybercriminals and cybercrime groups, effectively freezing all property and interests of these persons (subject to U.S.

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Change Healthcare data breach impacted over 100 million people

Security Affairs

“Change Healthcare can confirm we are experiencing a cybersecurity issue perpetrated by a cybercrime threat actor who has represented itself to us as ALPHV/Blackcat.” However, after a $22 million transaction, an affiliate publicly complained on a Russian cybercrime forum, alleging that BlackCat did not pay their fee.

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Cybersecurity Event Cancelled After Being Hit By Cybercriminals

Joseph Steinberg

Of course, the occurrence of suspected cybercriminal activity during a session for business leaders about cybersecurity, and the fact that even attendees of such an event likely fell prey to the scam, only underscores how problematic cybercrime has already become, and how badly we need to improve in our fight against it.

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Cyber Insurance: The Good, the Bad, and the Ugly

IT Security Guru

As cybercrime infects every facet of our daily lives, and technological advancements do little to stop the spread, many security professionals are turning to traditional solutions for a very modern problem. Enter cyber insurance. We insure almost everything – our homes, our cars, even our lives. The story so far.