A ransomware attack forced the largest U.S. fuel pipeline to shut down for six days in May and led to gasoline shortages across several Southeastern states. In its wake, U.S. officials have sought to bolster the defenses of an industry that for years has had fewer cybersecurity rules compared with other critical infrastructure sectors. The… Continue reading Protecting Our Energy Infrastructure Against Cyber Attacks, Ransomware
Tag: cyber insurance
Ransomware Gang REvil’s Websites Become Unreachable
Websites run by the ransomware gang REvil suddenly became unreachable on Tuesday, sparking widespread speculation that the group had been knocked offline. The Russia-linked cybercrime ring has collected tens of millions of dollars in ransom payments in return for restoring computer systems it has hacked. In recent weeks it claimed responsibility for a sprawling ransomware… Continue reading Ransomware Gang REvil’s Websites Become Unreachable
Data Breaches Are Up 38% in Q2 2021: ITRC
Today, the Identity Theft Resource Center® (ITRC), a nationally recognized nonprofit organization established to support victims of identity crime, released its U.S. data breach findings for the first half (H1) of 2021. According to the data breach analysis, publicly-reported U.S. data breaches are up 38 percent in the second quarter (Q2) of 2021 (491 compromises)… Continue reading Data Breaches Are Up 38% in Q2 2021: ITRC
Biden Says Kaseya Ransomware Attack Caused ‘Minimal Damage’ to U.S. Companies
President Joe Biden said on Tuesday the ransomware attack centered on the Florida information technology firm Kaseya seems to have inflicted only “minimal damage” on American businesses. “It appears to have caused minimal damage to U.S. businesses, but we’re still gathering information,” Biden told reporters following a briefing from advisers. “I feel good about our… Continue reading Biden Says Kaseya Ransomware Attack Caused ‘Minimal Damage’ to U.S. Companies
New Chubb Whitepaper Explores Common Types of Email Social Engineering Schemes
Chubb has released a new whitepaper, co-authored with Gordon Rees Scully Mansukhani LLP and PaymentWorks, that explores the common types of email social engineering schemes, particularly involving payments and suppliers, and how today’s cyber criminals are employing more sophisticated social engineering attacks than in the past. The paper, “Guarding Against Email Social Engineering Fraud: Re-examining… Continue reading New Chubb Whitepaper Explores Common Types of Email Social Engineering Schemes
How Ransomware Attacks Are Roiling the Cyber Insurance Industry
The single biggest global ransomware attack yet continued to bite Monday as details emerged on how the Russia-linked gang responsible breached the company whose software was the conduit. In essence, the criminals used a tool that helps protect against malware to spread it widely. An affiliate of the notorious REvil gang, best known for extorting… Continue reading How Ransomware Attacks Are Roiling the Cyber Insurance Industry
FBI Turns to Offense to Thwart Growing Threat of Cyberattacks
For the last several years, FBI agents debated turning the tables on hackers by remotely accessing breached computer networks and booting out the attackers caught in mid-hack. They got their chance earlier this year after state-backed Chinese hackers compromised thousands of private Microsoft Exchange email servers with the press of a button. In response, an… Continue reading FBI Turns to Offense to Thwart Growing Threat of Cyberattacks
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
Meat Supplier JBS Paid $11 Million to Resolve Ransomware Attack
JBS USA Holdings Inc. paid an $11 million ransom to cybercriminals who last week temporarily knocked out plants that process roughly one-fifth of the nation’s meat supply, the company’s chief executive said. The ransom payment, in bitcoin, was made to shield JBS meat plants from further disruption and to limit the potential impact on restaurants,… Continue reading Meat Supplier JBS Paid $11 Million to Resolve Ransomware Attack