In an apparent industry first, the global insurance company AXA said Thursday it will stop writing cyber-insurance policies in France that reimburse customers for extortion payments made to ransomware criminals. AXA, among Europe’s top five insurers, said it was suspending the option in response to concerns aired by French justice and cybersecurity officials during a… Continue reading Insurer AXA Halts Ransomware Crime Reimbursement in France
Tag: ransomware
DOJ Task Force Targeting Ransomware
The Justice Department has formed a task force to curtail the proliferation of ransomware cyberattacks, in a bid to make the popular extortion schemes less lucrative by targeting the entire digital ecosystem that supports them. In an internal memorandum issued this week, Acting Deputy Attorney General John Carlin said ransomware poses not just an economic… Continue reading DOJ Task Force Targeting Ransomware
Cyber Security Spending Has Risen Over the Last Year to $2.6M per U.S. Firm
Hiscox®, the international specialist insurer, reveals that US businesses’ cyber security spending is on the rise and they are leaders in cyber expertise, but still have more work to do when it comes to ransomware and phishing emails. The annual Hiscox Cyber Readiness Report™, which gauges businesses’ preparedness to combat cyber incidents and breaches, surveyed… Continue reading Cyber Security Spending Has Risen Over the Last Year to $2.6M per U.S. Firm
Ransomware Tops U.S. Cyber Priorities, Homeland Secretary Says
Department of Homeland Security (DHS) Secretary Alejandro Mayorkas said on Wednesday that dealing with ransomware will be a top priority, highlighting the growing threat of the data-scrambling software. Ransomware – which effectively holds files and networks hostage unless a payment is made – has steadily climbed to the top of America’s security agenda as the… Continue reading Ransomware Tops U.S. Cyber Priorities, Homeland Secretary Says
Microsoft Says Ransom-Seeking Hackers Taking Advantage of Server Flaws
Ransom-seeking hackers have begun taking advantage of a recently disclosed flaw in Microsoft’s widely used mail server software, the company said early Thursday – a serious escalation that could portend widespread digital disruption. The disclosure, initially made on Twitter by Microsoft Corp security program manager Phillip Misner and later confirmed by the Redmond, Washington-based company,… Continue reading Microsoft Says Ransom-Seeking Hackers Taking Advantage of Server Flaws
Cybercrime Costs to Top $1 Trillion This Year: Researchers
Cybercrime is expected to cost the global economy more than $1 trillion this year, up more than 50 percent since 2018, a research report said Monday. The report by McAfee Corp. with the Center for Strategic and International Studies (CSIS) concluded that the cost of online criminal activity is more than one percent of global… Continue reading Cybercrime Costs to Top $1 Trillion This Year: Researchers
Hackers Target Schools in New Wave of Cyberattacks
Just as school was to start this semester, technology chief Tony Brooks rushed to his office in Athens, Texas. Colleagues said they were unable to access the school district’s network. He logged into his computer. A message popped up: “All your important files are encrypted!” “I immediately freaked out,” said Mr. Brooks. “I got my… Continue reading Hackers Target Schools in New Wave of Cyberattacks
Ransomware Hits Election Infrastructure in Georgia County
A Georgia county is ground zero for what may be the first ransomware attack to hit election infrastructure this political season. The attack on Hall County — home to Gainesville and located roughly an hour north of Atlanta — was disclosed on Oct. 7, but the impact to election infrastructure is only now coming to… Continue reading Ransomware Hits Election Infrastructure in Georgia County
Cyber-Related Ransomware and Business Interruption Top Concerns of Risk Managers
Zurich North America Insurance and Advisen Ltd. has released the tenth annual Advisen cyber survey of corporate risk managers and insurance buyers revealing current views about information security and cyber risk management. This year’s survey features the highest percentage of cyber insurance buyers ever – nearly 80 percent carry some level of cyber insurance (55… Continue reading Cyber-Related Ransomware and Business Interruption Top Concerns of Risk Managers
Tokio Marine HCC Group Takes Strategic Action Against Ransomware Threats with Next Generation Antivirus
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