In 2018, Frank Krasovec took on a $1 million personal line of credit from PlainsCapital Bank. A few months later, he went on a business trip. When he returned, $450,000 was missing. Mr. Krasovec, the chairman of Dash Brands Ltd., which owns Domino’s Pizza Inc. franchises in China, said he soon learned that someone had… Continue reading Hackers Trick Victims Into Big Wire Transfers
Tag: cyber attacks
CEOs Are Deleting their Social Media Accounts to Protect Against Hackers
Cyberattacks are the biggest risk to businesses, with the prospect of falling victim to hacking and other cybercrime the threats that the majority of CEOs are most worried about, according to a new report on the views from the boardroom. Professional services firm PwC surveyed over 1,600 CEOs from around the world and found that… Continue reading CEOs Are Deleting their Social Media Accounts to Protect Against Hackers
SEC Urges Better Cybersecurity Practices at Financial Firms
The Securities and Exchange Commission is telling financial-services companies what kind of cybersecurity practices it has found during audits, giving them detailed information on how to handle sensitive data and guard against cyberattacks. The observations by the SEC are the latest in a string of moves by regulators and government agencies that demonstrate they are… Continue reading SEC Urges Better Cybersecurity Practices at Financial Firms
Insurers Look to Curb Ransomware Exposure as U.S. Cyber Rates Rise
U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, industry sources said. The changes follow a challenging year of hackers using malicious programs, known as ransomware, to take down systems that control everything from hospital billing to manufacturing.… Continue reading Insurers Look to Curb Ransomware Exposure as U.S. Cyber Rates Rise
Ransomware Attacks Are An Ever-Present and Growing Risk for Small Businesses, Government
The so-called ransomware attack that shut down a Milwaukee company last month shows the ever-present risk that now threatens all organizations. Small businesses that have less sophisticated systems to protect their computer networks from being hacked can be particularly vulnerable, according to cybersecurity experts. But every business or organization — large corporations, health systems, universities… Continue reading Ransomware Attacks Are An Ever-Present and Growing Risk for Small Businesses, Government
FBI: Cybercrimes on the Rise Because of Sophisticated Scams
On Dec. 14, 2018, Aaron Cole was about to buy a new house and received an email that he thought was from his title company, directing him to make a $123,000 deposit. Cole complied, not realizing that a sophisticated hacker network had likely been spying on his communications with the title company and that although… Continue reading FBI: Cybercrimes on the Rise Because of Sophisticated Scams
Connected Vehicle Cybersecurity Company Upstream Security Raises $30 Million In Funding
Upstream Security — a leader in cybersecurity for connected vehicles — announced it raised $30 million in a Series B round of funding from a prominent syndicate of investors. This round of funding was led by Renault Venture Capital and included Volvo Group Venture Capital, Hyundai, Hyundai AutoEver, Nationwide Ventures, and several others. Existing Upstream… Continue reading Connected Vehicle Cybersecurity Company Upstream Security Raises $30 Million In Funding
Beazley Reports a 37% Rise in Ransomware Incidents
Beazley data reveals an increase in ransomware attacks against IT vendors as cyber criminals exploit weak security programs to target both the vendor and their clients. One quarter (24%) of all ransomware incidents reported to Beazley Breach Response (BBR) Services – Beazley’s in-house breach response team – in the third quarter of 2019, were found… Continue reading Beazley Reports a 37% Rise in Ransomware Incidents
Baltimore to Buy $20 Million in Insurance in Case of Another Cyber Attack
Officials in Baltimore approved the city’s purchase of $20 million in cyber-insurance coverage, five months after a debilitating ransomware attack. The decision Wednesday to buy specialized insurance comes as U.S. cities face a growing threat of hackers seizing municipal computer systems and demanding ransoms that can top $1 million. Baltimore, which didn’t previously have cyber… Continue reading Baltimore to Buy $20 Million in Insurance in Case of Another Cyber Attack
Why Cyber Attacks Are the Biggest Risk for Energy Companies
Energy security is no longer about shortages of supply caused by Opec embargoes or the fear that Russia will cut off gas supplies flowing into Europe. The key issue now is the integrity of the computer systems through which supply, processing and distribution are managed. Cyber security is what matters, and because the energy business… Continue reading Why Cyber Attacks Are the Biggest Risk for Energy Companies