Many of the cybersecurity gaps outlined in a new White House directive that calls on federal agencies to patch hundreds of online vulnerabilities stem from the government’s aging computer systems, current and former federal tech chiefs, lawmakers and industry analysts say. But ongoing efforts to upgrade these systems tend to get bogged down by budget… Continue reading New White House Cybersecurity Directive Puts Spotlight on Aging Computers
Tag: cyber insurance
Administration to Order Federal Agencies to Fix Hundreds of Cyber Flaws
The Biden administration on Wednesday is expected to issue a sweeping new order mandating that nearly all federal agencies patch hundreds of cybersecurity vulnerabilities that are considered major risks for damaging intrusions into government computer systems, officials said. The new requirement is one of the most wide-reaching cybersecurity mandates ever imposed on the federal government.… Continue reading Administration to Order Federal Agencies to Fix Hundreds of Cyber Flaws
Suspected Ransomware Payments Nearly Doubled This Year, Treasury Says
The volume of suspected ransomware payments flagged by U.S. banks has surged this year, on pace to nearly double last year’s, the Treasury Department said Friday, highlighting the scale of a problem that governments across the world have described as a critical national security threat. Nearly $600 million in transactions were linked to possible ransomware… Continue reading Suspected Ransomware Payments Nearly Doubled This Year, Treasury Says
Hackers Targeted Three U.S. Drinking Water and Wastewater Facilities: Homeland Security
Hackers targeted three US water treatment facilities with ransomware over the last eight months, officials with the Cybersecurity and Infrastructure Security Agency (Cisa) said in a bulletin released on Thursday. Cisa said the alert, titled “Ongoing Cyber Threats to US Water and Wastewater Systems,” was released as a result of analyses conducted in cooperation with… Continue reading Hackers Targeted Three U.S. Drinking Water and Wastewater Facilities: Homeland Security
Suspected Ransomware Payments for First Half of 2021 Total $590 Million
Banks and other financial institutions in the U.S. reported transactions worth nearly $600 million suspected of being ransomware payments in the first half of this year, surpassing the total for all of 2020, according to a new Treasury Department report published Friday. Officials say the data, based on so-called suspicious activity reports that financial firms… Continue reading Suspected Ransomware Payments for First Half of 2021 Total $590 Million
White House Plans 30-Country Meeting on Cyber Crime and Ransomware
Top U.S. national security advisers will gather officials from 30 countries this month with plans to combat the growing threat of ransomware and other cyber crime, President Joe Biden said on Friday. An online session hosted by the White House National Security Council will also be aimed at “improving law enforcement collaboration” on issues like… Continue reading White House Plans 30-Country Meeting on Cyber Crime and Ransomware
Cybersecurity Insurance Provider Coalition Nabs $205M
Cyber insurance company Coalition today announced that it raised $205 million in a series E funding round, bringing its total raised to $505 million at a $3.5 billion post-money valuation. The financing, which was led by Durable Capital, T. Rowe Price, and Whale Rock Capital with participation from the company’s existing investors, will be used… Continue reading Cybersecurity Insurance Provider Coalition Nabs $205M
HSB Canada Introduces Cyber Suite, Coverage for Small Businesses
HSB Canada, part of Munich Re, has introduced HSB Cyber Suite, a comprehensive collection of cyber insurance and services designed to protect small and medium-size businesses from cyber-attacks, data breaches, identity theft, and cyber extortion. It is available through insurance carriers that partner with HSB Canada to add the coverage to their commercial policies. “Small… Continue reading HSB Canada Introduces Cyber Suite, Coverage for Small Businesses
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
Crypto Channels Targeted in Biden’s Fight Against Ransomware
The Biden administration plans a fresh campaign against ransomware attacks through sanctions to cut off criminals’ cryptocurrency pipelines, and it urged companies to report extortion attempts and better protect themselves from them. Deputy Treasury Secretary Wally Adeyemo told reporters that the sanctions would be imposed on Suex, a cryptocurrency transferring service that’s registered in the… Continue reading Crypto Channels Targeted in Biden’s Fight Against Ransomware