As per a new report from Corvus Insurance, Q1 2024 has set a record for the most global ransomware attacks in a first quarter.
Tag: ransomware attacks
Companies Are Finding It Harder to Detect Ransomware
Fewer and fewer organizations are detecting ransomware on their networks and their endpoints, but that doesn’t mean that there are fewer ransomware attacks happening around the world.
Cyber Insurance Premiums Surge by 50% in 2022 as Ransomware Attacks Increase
US cyber insurance premiums surged 50% in 2022 as increased ransomware attacks and online commerce drove demand for coverage.
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
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
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
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
Colonial Pipeline Attack Has Energy Companies Rushing to Secure Cyber Insurance
U.S. energy companies are scrambling to buy more cyber insurance after this month’s attack on Colonial Pipeline disrupted the U.S. fuel supply, but they can expect to pay more as cyber insurers plan to hike rates following a slew of ransomware attacks. The Colonial ransomware attack on May 7 shut the largest fuel pipeline network… Continue reading Colonial Pipeline Attack Has Energy Companies Rushing to Secure Cyber Insurance
Ransomware Took Heavy Toll on U.S. in 2020: Researchers
Ransomware attacks took a heavy toll on the United States last year with more than 2,000 victims in government, education and health care, security researchers say in a new report. The study released Monday by the security firm Emsisoft said ransomware attacks — which encrypt and disable computer systems while demanding a ransom — affected… Continue reading Ransomware Took Heavy Toll on U.S. in 2020: Researchers
Ransomware Severity and Costs Increase in 2020
Specialist insurer Beazley has reported that ransomware attacks increased in terms of both severity and costs this year compared to 2019 and have become the biggest cyber threat facing organizations. According to the latest Beazley Breach Insights report, published today, the total cost of ransom payments doubled year-on-year through the first six months of 2020,… Continue reading Ransomware Severity and Costs Increase in 2020