SecureWorld News

JANUARY 31, 2024

For those in the real estate industry—including real estate owners, developers, property managers, real estate investment trusts (REITs), hospitality groups, and investment managers—cyber risks are more complicated because of the multilayered environment and multiple stakeholders who are involved.

Risk

Security Affairs

MAY 1, 2020

Maze Ransomware operators claim to have hacked the network of the state-owned Bank of Costa Rica Banco BCR and to have stolen internal data, including 11 million credit card credentials. Banco BCR has equity of $806,606,710 and assets of $7,607,483,881, it is one of the most solid banks in Central America.

Ransomware

CSO Magazine

JANUARY 24, 2023

Industry respondents also expressed concerns over identity theft at 4%, unavailable or unaffordable cyber insurance at 4%, geopolitical risks at 3%, DDoS attacks at 2% and website defacement at 0.9%, according to CSI’s annual survey of the financial sector. To read this article in full, please click here

Cyber threats

CyberSecurity Insiders

JULY 29, 2022

What’s surprising about the incident is that the Hive Group has details that Wootton Educational Trust is covered under a cyber insurance and so is demanding the authorities to pay up huge i.e., £500,000.

Ransomware

SecureWorld News

NOVEMBER 12, 2020

We can't look at all of these categories, but let's talk about the number one cyber attack threat of malware. Emotet remains the most common type of malware infection, which started as a banking trojan, evolved, and now targets organizations regardless of industry vertical. ".it

Cyber threats

CyberSecurity Insiders

APRIL 20, 2023

Bank of America has expressed its concerns over Lloyd’s recent policy decision to exclude cyber insurance coverage for large corporations hit by cyber attacks funded by adversary states. The post Cost of state cyber attacks not to be covered under insurance says Lloyd appeared first on Cybersecurity Insiders.

Insurance

CyberSecurity Insiders

JUNE 22, 2023

Nope, says a renowned international bank from UK. 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. They can provide guidance on how to proceed and may be able to assist in the investigation.

Ransomware

SecureWorld News

NOVEMBER 2, 2022

He helps senior decision makers overcome cybersecurity sales objections and manages unlimited cyber risks through rigorous prioritization. In the private sector, he was a CISO for an insurance company, credit card processor, bank, credit union, and IT Managed Service Provider. See the conference agenda and register here.

Cybersecurity

Andrew Hay

JULY 26, 2018

million was stolen from The National Bank of Blacksburg from two separate breaches over an eight-month period. 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.

Insurance

BH Consulting

JULY 17, 2024

The cloud storage company suffered one of the world’s biggest breaches that compromised at least 165 high-profile clients including Ticketmaster and Santander Bank. Cyber insurance: whisper it, but it seems to be working Cyber insurance premiums have dropped by 15 per cent compared to their peak in 2022.

Cyber Insurance

CyberSecurity Insiders

JANUARY 24, 2022

CINCINNATI–( BUSINESS WIRE )–Great American Insurance Group recently launched EagleEye? According to Betty Shepherd, Divisional Senior Vice President, Great American Cyber Risk, EagleEye is a valuable loss prevention tool for insureds. We jumped at the opportunity to build a compelling solution for insureds.

Cyber Risk

CyberSecurity Insiders

DECEMBER 18, 2022

Cyber security is a boardroom issue, but with growing economic uncertainty, organizations are being forced to make tough decisions as they plan 2023 budgets. 5 – Recession requires CISOs to get frank with the board about proactive security.

Cybersecurity

SecureWorld News

MAY 16, 2023

Municipalities have to hold massive amounts of PII [personally identifiable information] along with banking and payment card details. Residents don't have a choice of whether or not to share payment/banking information to pay property taxes or traffic tickets. Those communities also have a legal obligation to protect that data.

Cybersecurity

Malwarebytes

JUNE 14, 2021

While various sectors in Australia were noted to be particularly targeted, the Avaddon strain has been instrumental in the successful network compromise of the Asian division of the AXA Group , one of the biggest cyber insurance companies in the world.

Ransomware

SecureWorld News

OCTOBER 5, 2020

The OFAC Advisory on these cybercrime payments specifically warns financial institutions, cyber insurance firms, and companies that facilitate payments on behalf of victims, that they may be violating OFAC regulations. Treasury: ransomware continues to increase. persons rely on to continue conducting business.

Government

Malwarebytes

FEBRUARY 3, 2023

UK Finance is the collective voice for the UK’s banking and finance industry, representing around 300 firms across the industry. ” Another report, called the ‘ State of cyber security in the UK ’, surveyed 500 UK-based cybersecurity strategy decision makers. Sharing intelligence on emerging threats.

Scams

Cytelligence

JANUARY 14, 2020

Evolution of mobile malware attacks – The first half of 2019 saw a 50% increase in attacks by mobile banking malware compared to 2018. This malware can steal payment data, credentials and funds from victims’ bank accounts, and new versions are available for widespread distribution by anyone that’s willing to pay the malware’s developers.

Cybersecurity

SC Magazine

FEBRUARY 25, 2021

It’s a little blunt to be a solution,” said Mike McNerney, chief operating officer of Resilience, which provides cyber insurance, and a former policy adviser to the Department of Defense. Todt said that cybersecurity insurance is prevalent among SMBs, but often offer a low return on investment.

Ransomware

CyberSecurity Insiders

OCTOBER 24, 2022

From banking to personal data collection, schools must ensure that their systems come with security features and that their employees comply with those security features. Cyber insurance. Often, educational institutions see cyber insurance as a needless expense. Whitworth University compromised. Until they need it.

Education

SecureWorld News

MARCH 28, 2024

"The Treasury Department is following the trends of other regulators, recognizing the unique challenges posed by AI in the financial industry, and trying to encourage a proactive response to AI," said Jordan Fischer , Cyber Attorney and Partner at Constangy. The SecureWorld Financial Services virtual conference held on Feb.

Risk

The Last Watchdog

SEPTEMBER 20, 2019

Eventually, governments will address the risk by beefing up security and purchasing cyber insurance, which go hand in glove. It’s a positive development that Bandura Cyber and other security vendors are focused on making higher use of threat intel feeds generally, and helping SMBs, specifically.

Ransomware

Digital Shadows

OCTOBER 14, 2024

English-speaking countries, particularly the US, UK, Canada, and Australia, have well-developed insurance markets and higher cybersecurity awareness, resulting in higher ransomware insurance adoption. However, some cyber insurance policies explicitly forbid ransom payments.

Ransomware

SecureWorld News

NOVEMBER 22, 2021

Does a member of the finance department have to contact the bank to request the transfer be stopped, or who else can? Law enforcement also has experience dealing with BEC matters and working with banks, which may increase the likelihood of recovery. • If you have cyber insurance, will it cover some or all BEC incidents?

Scams

Cytelligence

JANUARY 27, 2020

Unfortunately, the citizens of the country had to pay the ransom as the city had no cyber insurance. Having cyber insurance meant the city only had to pay a small fee to get their systems back up and running. Ransomware will continue to be the growth driver in cyber-crime.

Ransomware

CyberSecurity Insiders

NOVEMBER 13, 2021

Next year’s cyber budgets cannot be futureproofed against all forms of disruption, but there are trends business leaders should watch closely. A major one is the rising cost of cyber insurance – premiums are going up. What’s more, insurers are looking to reduce the risk they take on when they provide cyber policies.

Insurance

SecureWorld News

AUGUST 23, 2023

Timothy Morris, Chief Security Advisor, Tanium: "It is good to see these updates and the expansion of the framework beyond critical infrastructures (banks, energy, healthcare, etc.) to all business and industry types regardless of size.

Cybersecurity

Pen Test

OCTOBER 10, 2023

REvil claimed theft of financial spreadsheets, bank communications, and more. Identify cyber insurance policies and ensure they align to business needs regarding ransomware attacks and data leaks. Businesses will need to demonstrate cyber risk management to get the best premiums. Colonial Pipeline - $4.4

Ransomware

Thales Cloud Protection & Licensing

JULY 21, 2022

However, this stance indicates a lack of understanding of the effects of all the parties involved, such as cyber insurance underwriters, incident response firms, government regulations, and ransomware attribution. For many organizations, paying the ransom can be less damaging than risking any additional impacts.

Cyber threats

SecureWorld News

OCTOBER 19, 2023

Kimberly "KJ" Haywood, Principal Advisor at Nomad Cyber Concepts and Adjunct Cybersecurity Professor at Collin College, had this to say: "Inflation is hitting organizations harder than ever. As cyber threats surge, the expenses associated with cyber insurance rise, adding to the financial strain. and European Union.

Cybersecurity

BH Consulting

JUNE 13, 2023

The Irish Independent’s story about the data makes the connection between the staggering increase in frauds with the growth in online banking since the start of the Covid-19 pandemic. MORE UK NCSC calls on the cyber insurance market to become more sophisticated.

Social Engineering

SC Magazine

JUNE 14, 2021

Sometimes they have the cyber insurance policy. One of the mistakes that a lot of people make when they try to do it on their own is to lie about their situation; they lie about their businesses, they lie about how much cash they have in the bank. People don’t realize that they have your finances.

Ransomware

ForAllSecure

MAY 17, 2023

Chris Gray of Deep Watch talks about the view from the inside of a virtual SOC, the ability to see threats against a large number of SMB organizations, and the changes to cyber insurance we’re seeing as a result. VAMOSI: Cybersecurity insurance. cyber insurance as a whole was changing heavily.

Internet

IT Security Guru

FEBRUARY 28, 2023

Cyber insurers are losing money. Their loss ratios – total claims plus the insurer’s costs, divided by total premiums earned – are now consistently above 60%, which presents something of an existential threat to the insurance industry, making cyber risk a potentially uninsurable area due to falling profitability.

Cyber Insurance

Centraleyes

APRIL 15, 2024

They may be after banking details or confidential company information that could be exploited for financial gain. Better Rates in Cyber Insurance Cyber liability insurance costs depend on your cyber risks. In the long run, there’s no question about the cost-benefit.

Architecture

Security Boulevard

MAY 17, 2023

His name is Omar Masri and he's a software engineer and also the founder and CEO of Mamari.io, which helps businesses overcome the cost and complexities of cybersecurity, preventing attacks while meeting compliance and cyber insurance requirements. You got hacked, you’re sort of just paid, your insurance covered it.

Hacking

eSecurity Planet

MAY 11, 2023

I am very surprised that the cyber insurance industry has not required zero trust architecture already, but perhaps the $1.4 Maybe big banks and healthcare systems can afford to do this because they can’t afford not to, but smaller companies and those with less critical IT needs often cannot financially afford to do this.

Insurance

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