It’s time to create a password. We are typically asked to use a minimum of eight characters, including at least one uppercase letter, one lowercase letter, a number and a special character. And we need to remember the password and not use the same one anywhere else. The problem, however, is that these complex passwords… Continue reading Complex Passwords Make it Hard for Users to Employ, Easy for Hackers
Tag: cyber attacks
Zurich Partners with Cyber Insurtech BOXX Insurance
BOXX, a leading cyber insurance provider for small businesses, individuals and families, announced today that it has closed its oversubscribed $10 million Series A-round in a bid to accelerate growth and expand its footprint internationally. The new investors are Cyber Mentor Fund, Zurich Insurance Group, and SixThirty Ventures. “In a world impacted by major technological… Continue reading Zurich Partners with Cyber Insurtech BOXX Insurance
‘Smishing’: The Rising Threat for Business Owners that Brings Scams to Smartphones
You’ve heard of ransomware? Now you’ve got to worry about “smishing”. Smishing is a relatively new form of cyberattack that’s threatening millions of consumers and small businesses around the world. Smishing is a form of “phishing” using SMS or text messages instead of email messages to entice recipients to click on phoney links that draws… Continue reading ‘Smishing’: The Rising Threat for Business Owners that Brings Scams to Smartphones
U.S. to Target Crypto Ransomware Payments with Sanctions
The Biden administration is preparing an array of actions, including sanctions, to make it harder for hackers to use digital currency to profit from ransomware attacks, according to people familiar with the matter. The government hopes to choke off access to a form of payment that has supported a booming criminal industry and a rising… Continue reading U.S. to Target Crypto Ransomware Payments with Sanctions
Like ‘Terminator,’ High-Tech Cyber Crime to ‘Keep Coming’
Businesses worldwide are fighting sophisticated data scientists as they battle to protect their data-rich computers from cyber crime —and the costly attacks are not going to stop, a top expert at insurer Sompo Holdings Inc. said on Tuesday. “It’s like the Terminator: They’re just going to keep coming at you” because it is profitable, Brad… Continue reading Like ‘Terminator,’ High-Tech Cyber Crime to ‘Keep Coming’
FBI Says Don’t Pay Ransom, While Payments May Be Tax-Deductible
As ransomware attacks surge, the FBI is doubling down on its guidance to affected businesses: Don’t pay the cybercriminals. But the U.S. government also offers a little-noticed incentive for those who do pay: The ransoms may be tax deductible. The IRS offers no formal guidance on ransomware payments, but multiple tax experts interviewed by The… Continue reading FBI Says Don’t Pay Ransom, While Payments May Be Tax-Deductible
Ransomware Claims Are Roiling an Entire Segment of the Insurance Industry
The recent surge of ransomware attacks is upending the cyber insurance industry, pushing up the requirements and cost of coverage just as more companies need it. Ransomware attacks — in which cybercriminals take over an organization’s computer network and demand a payment to hand back control — have increased in frequency and severity over the… Continue reading Ransomware Claims Are Roiling an Entire Segment of the Insurance Industry
U.S. Water and Power Are Shockingly Vulnerable to Cyberhacks
When the Los Angeles Department of Water and Power was hacked in 2018, it took a mere six hours. Early this year, an intruder lurked in hundreds of computers related to water systems across the U.S. In Portland, Oregon, burglars installed malicious computers onto a grid providing power to a chunk of the Northwest. Two… Continue reading U.S. Water and Power Are Shockingly Vulnerable to Cyberhacks
Law Enforcement Recovers $2.3M in Ransom Paid to Colonial Pipeline Hackers
U.S. authorities have recovered millions of dollars in digital currency paid to the hackers who hit a major East Coast fuel pipeline with a ransomware attack last month, in a law-enforcement operation that officials said demonstrated progress undermining criminals’ ability to disrupt American commerce and critical infrastructure for profit. Investigators seized about 64 bitcoin, valued… Continue reading Law Enforcement Recovers $2.3M in Ransom Paid to Colonial Pipeline Hackers
Lawmakers Call for More Transparency Over Cyber Ransom Payments
Following a recent spate of cyber-attacks aimed at U.S. companies, more transparency is needed into what kind of cash payments are made after ransomware attacks, a top Democrat said. Mark Warner, chairman of the Senate Intelligence Committee, spoke days after a top U.S. meat producer needed to shut down facilities that account for almost a… Continue reading Lawmakers Call for More Transparency Over Cyber Ransom Payments