WannaCry ransomware News

Cyber Attack on Ukrainian Medical Facilities Sets ‘Dangerous’ Precedent: Experts

Dr. Lidiia Podkopaieva was about to click “send” on an order of new surgical instruments when her computer monitor suddenly went dark. She speed-dialed the clinic’s technician but didn’t even have time to tell him what was wrong. “We’re under cyber …

Major Cyber Attack Could Cost Global Economy $53 Billion: Lloyd’s

A major, global cyber attack could trigger an average of $53 billion of economic losses, a figure on par with a catastrophic natural disaster such as U.S. Superstorm Sandy in 2012, Lloyd’s of London said in a report on Monday. …

Looming EU Cyber Rules to Provide ‘Shot in Arm’ for Cyber Market: A.M. Best

The European Union’s looming General Data Protection Regulation (GDPR) will require mandatory notification of serious data breaches and potentially massive fines for failure to comply. That’s the bad news. The good news is that the GDPR, to be rolled out …

Soft Rates Begin to Hit Results – But Pain Continues at Mid-Year Renewals: Willis Re

Despite the deterioration many reinsurers saw in the first quarter, mid-year renewals continued their downward pricing trajectory, according to Willis Re in a recent report. Indeed, underlying loss and expense ratios for many reinsurers are showing a worrying trend of …

Days of Cyber Insurers Avoiding Costly Claims May Be Numbered: Expert

Cyber crime insurers largely avoided costly claims from the recent attacks that hit business around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an event over the next months that will seriously …

Businesses Underestimate Long-Term Effects of Cyber Attacks: Lloyd’s Report

Businesses could face a much higher bill than they expect or are prepared for after falling victim to a cyber-attack, according to research from Lloyd’s in association with KPMG and legal firm DAC Beachcroft. As businesses increasingly become the target …

‘WannaCry’-Like Cyber Attack Spreading to Firms Globally

A new cyberattack similar to WannaCry is spreading from Europe to the U.S. and South America, hitting port operators in New York, Rotterdam and Argentina, disrupting government systems in Kiev, and disabling operations at companies including Rosneft PJSC, advertiser WPP …

Major Ransomware Attack Spreads from Europe to U.S.

A new cyber attack similar to WannaCry is spreading from Europe to the U.S., hitting port operators in New York and Rotterdam, disrupting government systems in Kiev, and disabling operations at companies including Rosneft PJSC and advertiser WPP Plc. More than 80 …

Bitcoin Startup, Blockchain, Raises $40M in New Funding from Heavy Hitters

Blockchain, the London-based bitcoin currency service provider, has raised $40 million of fresh funding, representing one of the largest investment rounds in the financial technology sector since Britain’s vote to leave the European Union. New investors in the company, which …

Cyber Criminals or State-Backed Hackers? It’s Getting Harder to Tell…

Veteran espionage researcher Jon DiMaggio was hot on the trail three months ago of what on the face of it looked like a menacing new industrial espionage attack by Russian cyber spies. All the hallmarks were there: targeted phishing emails …