Insurance claims being filed by ransomware victims are growing as criminals continue to hit businesses with crypto-locking malware. To avoid these claims, organizations can take a number of proven steps to better protect themselves, says Payal Chakravarty of Coalition.
Abnormal Security is out with new financial crimes research, and it
shows that traditional business email compromise is evolving into
new forms of financial supply chain compromise. Crane Hassold
shares insights on the crimes and how best to detect, deter and
respond to them.
In a video interview with Information...
Ransomware struck global currency exchange and remittance company Travelex on New Year's Eve 2019. Don Gibson, a security architect at Travelex, became publicly linked with the incident, and the undesired attention he received contributed to a health situation that nearly led to a tragic outcome.
In his spare time, ransomware expert Allan Liska recently became a certified sommelier. Branching out from his day job as principal intelligence analyst at Recorded Future, Liska says he's found numerous parallels between the deductive tasting process and threat intelligence.
Threat watch: The ongoing Russia-Ukraine war continues to pose both direct and indirect risks to enterprise networks, says Michael Baker, vice president and IT CISO of IT services and consulting firm DXC Technology. He also discusses recruiting and retaining new talent.
The public-private Ransomware Task Force last year issued numerous recommendations for battling ransomware, and task force member Marc Rogers of Okta says that while the problem persists, better mechanisms are helping to blunt such criminal activity.
Ransomware continues to pummel organizations, with the average ransom payment reaching $925,000 so far this year, but the aggregate financial impact of business email compromise attacks is even worse, says Wendi Whitmore, head of Unit 42 at Palo Alto Networks.
Ransomware groups such as Conti are beginning to move away from encrypting systems. Instead, they are stealing data, especially from public companies, and threatening to leak it publicly to extort ransom payments, says cybercrime expert Vitali Kremez, CEO of AdvIntel.
Personal data allegedly obtained during a cyberattack using BlackCat ransomware was published on a typosquatted open internet website. This new extortion technique shows an escalation by ransomware groups in their willingness to use personal data to bludgeon victims into paying extortion money.
The disruption of the Netwalker ransomware group in January 2021 by U.S. and Bulgarian authorities highlights how blockchain can be an Achilles' heel for cryptocurrency-using criminals, says Jackie Burns Koven, cyberthreat intelligence lead at Chainalysis.
The dangers associated with compromising critical infrastructure assets burst into public view with the May 2021 Colonial Pipeline ransomware attack, prompting significant investment from both the government and the private sector, according to Claroty Chief Product Officer Grant Geyer.
As the Russia-Ukraine war continues, and analysts watch for retaliatory cyberattacks against Ukraine's allies, cybercrime tracker Jon DiMaggio of Analyst1 says there's good news, in that Russian cybercriminals seem to have little or no incentive to move against U.S. critical infrastructure.
An Arizona medical center that suffered a ransomware attack in April has begun notifying 700,000 individuals of a data breach compromising sensitive medical and personal information. The incident is among the latest major health data breaches involving ransomware.
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