ransomware attack News

Cyber Attacks Pose Biggest Threat to Swiss Financial System: Regulator

Cyber attacks pose the biggest threat to the Swiss financial system with risks from hacking incursions on the rise, watchdog FINMA warned on Tuesday, calling on Switzerland to step up its national defenses against the menace. “The risks connected with …

Mastermind Behind ATM Malware Attacks Arrested in Spain

The mastermind behind malware attacks that programmed ATMs to spit out cash on demand and caused more than 1 billion euros ($1.2 billion) of losses, has been arrested in Spain. The leader of a criminal gang that carried out the …

What Cyber Insurance Industry Learned from 2017 Hacks

The NotPetya, WannaCry and Equifax hacks of last year were evidence that the U.S. insurance industry has been ill-prepared to handle a large cyber attack and needs to up its game. However, as a consequence of the attacks in 2017, …

Cyber Attacks Pose Greatest Threat to UK Businesses, Investors: PwC Survey

Investors and chief executives say cyber attacks pose the greatest threat to businesses operating in the U.K., outweighing other material risks including populism, trade protectionism and over-regulation, according to PricewaterhouseCoopers LLP. An annual survey carried out by the accountancy firm …

Siemens Joins 8 Industry Partners (Including Allianz) to Counter Cyber Attacks

Siemens AG is joining with companies including Airbus SE and IBM to try to counter large-scale hacking attacks that threaten to cost $8 trillion in damage over the next five years. The group signed a charter Friday at a security …

Russian-Speaking Hackers Steal $10M from U.S., Russia Banks: Cyber Security Firm

A previously unknown ring of Russian-speaking hackers has stolen as much as $10 million from U.S. and Russian banks in the last 18 months, according to a Moscow-based cyber-security firm that runs the largest computer forensics laboratory in eastern Europe. …

Hackers Fail at Second Cyberattack Attempt on North Carolina County

A North Carolina county recovering from a cyberattack says hackers failed in a second attempt to infiltrate their computer system. Mecklenburg County officials say foreign hackers redoubled their efforts after the county refused to pay a ransom last week. But …

North Carolina County Refuses to Pay $23K Ransom to Hacker Who Froze Servers

Deputies processed arrests by hand and building code officers used paper records Wednesday as one of North Carolina’s largest counties was hit by a hacker who froze county servers and demanded ransom. Mecklenburg County Manager Dena Diorio told reporters that …

Basic IT Best Practice Would Have Limited WannaCry Cyber Attack: UK Report

The U.K. government holds North Korea responsible for the global WannaCry ransomware attack that crippled parts of the state-run National Health Service as a damning report highlighted its weak defense against such attacks. While the rogue Asian state has long …

Banks Seek More Insurance Protection Against Cyber Attacks, Rogue Traders

Banks are increasingly turning to insurance to protect their capital from “operational risks” like cyber attacks and rogue traders, and insurers say they can help safeguard lenders by providing an extra layer of expertise. After a spate of expensive court …