Security Boulevard

JUNE 29, 2024

Powered by WormGPT and FraudGPT, hackers and scammers will continue to drive the cost of business higher as organizations pay more for cyber insurance. Businesses wanting to meet compliance mandates, lower their cyber insurance premiums, and reduce their security operations costs need to invest in AI for cyber defense.

Artificial Intelligence 71

Artificial Intelligence Cyber Insurance Engineering Insurance 71

eSecurity Planet

FEBRUARY 16, 2021

For access to the decryption key, the victim must make prompt payment, often in cryptocurrency shielding the attacker’s identity. Enterprise ransomware accounts for 81% of total infections, and by market segment, 62% are small to medium-sized businesses ( Symantec ). Attackers will inform the victim that their data is encrypted.

Ransomware 97

Ransomware Backups Encryption Software 97

NetSpi Executives

APRIL 27, 2024

Victims pay ransomware adversaries for decryption keys through cryptocurrency, such as Bitcoin. Average ransomware payouts are on the rise as attackers target bigger companies, specific sectors, and markets with deeper pockets. Some can’t afford not to pay, and some are covered by cyber insurance.

Ransomware 52

Ransomware Cyber Insurance Backups Insurance 52

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. Compromised cloud storage can result in account breaches, data theft, or extortion in which attackers exploit reputational damage to demand ransoms.

Cyber Attacks 52

Cyber Attacks Phishing Ransomware Cyber Insurance 52

Spinone

OCTOBER 13, 2020

Ransom payments are generally demanded in the form of untraceable cryptocurrency such as Bitcoin. In fact, one report shows that business email compromises are 23% of cyber insurance claims. There are many solutions on the market today that feature anti-ransomware capabilities.

Ransomware 52

Ransomware Backups Data breaches Encryption 52

CyberSecurity Insiders

AUGUST 15, 2022

Ever wondered what is covered and what is not in your Cyber Insurance Policy? If not, you better review the guidelines and inform all your C-level employees on strategies to cope with the losses that remain out of the cyber insurance cover. Otherwise, the cyber insurer will not offer any policy coverage.

Cyber Insurance 90

Cyber Insurance Insurance Data collection Antivirus 90

SC Magazine

JUNE 21, 2021

If no one paid ransom, the argument goes, there would be no market for ransomware. Policy levers can include direct federal investment in baseline cybersecurity , regulations to improve baseline cybersecurity , more aggressive law enforcement and intelligence community takedowns of criminal infrastructure, and regulating cryptocurrencies.

Ransomware 118

Ransomware Insurance Government Cyber Insurance 118

ForAllSecure

MAY 30, 2023

They'll look at the market cap, they'll look at stock prices, they'll look at the size of the organization. of cryptocurrency. By no means. Does that mean that there was no ransomware occurring? It was still very active within the last year, just not at the volumes that we were seeing in previous years.

Ransomware 40

Ransomware Encryption Authentication Backups 40

Adam Levin

DECEMBER 27, 2019

With the demand for cybersecurity professionals far exceeding supply, the market will start having openings for less qualified people. Cryptocurrency miners will continue to get rich off of stolen electricity. Related to the botnet craze, we will see an increase in computing power theft used to mine cryptocurrency.

Cybersecurity 100

Cybersecurity CISO IoT Insurance 100