A Wave of Ransomware Attacks Strike U.S. Hospitals

BEC attacks

Eastern European criminals are targeting dozens of U.S. hospitals with ransomware, and federal officials on Wednesday urged healthcare facilities to beef up preparations rapidly in case they are next. The FBI is investigating the recent attacks, which include incidents in Oregon, California and New York made public just this week, according to three cybersecurity consultants… Continue reading A Wave of Ransomware Attacks Strike U.S. Hospitals

Tokio Marine HCC Group Takes Strategic Action Against Ransomware Threats with Next Generation Antivirus

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Tokio Marine HCC – Cyber & Professional Lines Group today announced an arrangement with CrowdStrike, a leader in cloud-delivered endpoint and workload protection, to offer CrowdStrike’s industry-leading endpoint protection to insureds to help customers address the increasing risk of ransomware attacks and other sophisticated threats. The cloud-native CrowdStrike Falcon platform is built to address today’s… Continue reading Tokio Marine HCC Group Takes Strategic Action Against Ransomware Threats with Next Generation Antivirus

Treasury Warns Against Keeping Ransomware Payments Quiet

Human error and cyber attacks

Victims of ransomware schemes and financial institutions could violate sanctions or anti-money-laundering rules—and face stiff penalties—if they facilitate or make payments to attackers, the U.S. Treasury Department said in a pair of advisories Thursday. The notices, issued by units of Treasury’s Office of Terrorism and Financial Intelligence, warned victims and businesses that assist them to… Continue reading Treasury Warns Against Keeping Ransomware Payments Quiet

Arthur J. Gallagher Targeted in Ransomware Attack

BEC attacks

International insurance brokerage firm Arthur J. Gallagher & Co has confirmed that it was the target of a ransomware attack on September 26th. The firm said the incident impacted a “limited portion” of its internal systems, and does not expect it to have a material impact on its operations or financial condition. “We promptly took… Continue reading Arthur J. Gallagher Targeted in Ransomware Attack

Willis Re Survey Finds COVID-19 Fuels Cyber Losses

Human error and cyber attacks

Risk professionals believe the overall level of cyber attacks will increase as a result of COVID-19. Of nearly 1,000 respondents to Willis Re’s 2020 Cyber Risk Outlook survey, 86% believe frequency will increase, and 54% believe severity will rise, according to the annual, global survey by the reinsurance division of Willis Towers Watson, a leading… Continue reading Willis Re Survey Finds COVID-19 Fuels Cyber Losses

Cybercriminals Step Up Social Engineering During Pandemic

Hacker using laptop. Hacking the Internet.

Cybercriminals have been going to great lengths throughout 2020 to get their hands on confidential information such as log-in details that let them bypass a company’s security systems and commit theft or fraud by manipulating employees using fake or doctored emails. While this form of online social engineering had declined from Q4 2019 to Q1… Continue reading Cybercriminals Step Up Social Engineering During Pandemic

Cyber Attacks Are Seen Pushing Up Risk Premiums for Stocks

BEC attacks

U.S. equity investors are demanding higher risk premiums to compensate for rising cyber threats as the coronavirus pandemic pushes more businesses to move online. That’s according to researchers at Michigan State University who found that funds adjust their positions according to the “cyber riskiness” of holdings, especially when data breaches are high. Hackers prefer larger… Continue reading Cyber Attacks Are Seen Pushing Up Risk Premiums for Stocks

Twitter Hack Attack Hits Politicians, Celebrities, & Billionaires

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Twitter Inc. was hit with a widespread attack Wednesday across the social-media platform as hackers took over the accounts of celebrities, politicians and billionaires including Bill Gates, Kanye West, Joe Biden and Barack Obama, as well as technology companies like Apple Inc. Shortly before 4 p.m. EDT, the compromised accounts began posting similar messages requesting… Continue reading Twitter Hack Attack Hits Politicians, Celebrities, & Billionaires

Remote Work Creating New Opportunities for Cyber Criminals

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The novel coronavirus (COVID-19) and the resultant move to widespread homeworking has created new vulnerabilities for criminals to exploit. This is the key finding of a new report authored jointly by cyber analytics expert CyberCube and professional services firm Aon. According to the report, homeworking has exposed new access points for cyber criminals to gain… Continue reading Remote Work Creating New Opportunities for Cyber Criminals

Ransomware Remains Top Cyber Security Threat for Businesses

BEC attacks

Shift to home working heightens risk of cyber breach via remote desktop protocol and phishing attacks Ransomware attacks skyrocketed in 2019, according to the latest Beazley Breach Briefing, an annual update on cyber trends produced by leading cyber insurer Beazley. Beazley’s in-house team of breach experts, Beazley Breach Response (BBR) Services, reported the number of… Continue reading Ransomware Remains Top Cyber Security Threat for Businesses