From the university’s press release about their research into factors related to whether ransomware victims decide to pay ransom or not — and how much they pay if they do decide to pay: The UT investigated the decision-making process of victims who had to pay ransoms during ransomware attacks. UT researcher Tom Meurs and his […]
The Cyber Express reports: The U.S. Securities and Exchange Commission (SEC) has officially confirmed a cyberattack on its X account, revealing that the breach was a result of a SIM-swapping attack on the cell phone number associated with the account. The incident of the SEC X account hacked, which occurred on January 9, 2024, initially involved […]
ITPro reports: Nearly half of workers responsible for email security breaches over the last year have been sacked, according to new search, as cyber leaders begin taking a tougher stance amid a surge in attacks. Research from cyber security firm Egress found that 94% of organizations globally have experienced a serious email security incident in […]
In its The State of Ransomware in the U.S. report for 2023, Emsisoft opined that the only solution to the ransomware crisis is to completely ban ransomware payments. That recommendation has generated some discussion, and now Becker’s has also reached out to health system CISOs to get their reaction to the recommendation. The majority’s opinion […]
From the Harvard Business Review: In December of 2020, SolarWinds learned that they had fallen victim to hackers. Unknown actors had inserted malware called SUNBURST into a software update, potentially granting hackers access to thousands of its customers’ data, including government agencies across the globe and the US military. General Counsel Jason Bliss needed to […]
Reuters reports: Veon, the parent company of Ukraine’s largest mobile operator Kyivstar, will take a hit of around 3.6 billion hryvnias ($95 million) in revenue in 2024 due to a massive cyberattack in December, the Dutch telecoms group estimated on Thursday. The estimated lost revenue is associated with measures Kyivstar has taken to compensate customers […]
In connection with the settlement, Genesis Global Trading will surrender its BitLicense New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris today announced that Genesis Global Trading, Inc. (“Genesis Global Trading”) will pay an $8 million penalty to New York State for compliance failures that violated DFS’s virtual currency and cybersecurity regulations […]
BakerHostetler law firm is well-known for data breach incident response. They write, “Three years ago we set a new industry standard by creating our Digital Assets and Data Management (DADM) practice group, which now has more than 100 attorneys and technologists. Every year we organize and publish our collective insights in this report. It is […]
Emsisoft reports: In 2023, the U.S. was once again battered by a barrage of financially-motivated ransomware attacks that denied Americans access to critical services, compromised their personal information, and probably killed some of them. In total, 2,207 U.S. hospitals, schools and governments were directly impacted by ransomware over the course of the year, with many […]
New Ransomware Reporting Requirements Kick in as Victims Increasingly Avoid Paying
As 2023 drew to a close, a report by Emsisoft made the bold recommendation to impose a flat-out ban on ransom payments in the event of cyberattacks. Their suggestion has spawned a good deal of discussion, including a new report by incident response firm Coveware, who disagrees strongly with the recommendation. The following is just […]