ransomware News

White House Touts $1 Billion in Grants to Fight Cybercrime

The Biden administration has called on states and local governments to apply for new cybersecurity grants worth $1 billion over four years. The move is part of US efforts to beat back attacks from criminal hackers, who have successfully targeted …

3 Iranian Citizens Charged in Broad Hacking Campaign in US

The Justice Department said Wednesday that three Iranian citizens have been charged in the United States with ransomware attacks that targeted power companies, local governments and small businesses and nonprofits, including a domestic violence shelter. The charges accuse the hacking …

Phishing Triggers Majority of Cyber Claims in 2022 First Half: Coalition

Claims are down among Coalition policyholders in the first half of 2022, but small businesses became bigger targets and an organization’s employees remain the easiest was for cyber criminals to infiltrate and pull off scams. Coalition’s 2022 Cyber Claims Report …

Cyber Insurance Price Hike Hits Local Governments Hard

This story originally appeared on Stateline, an initiative of The Pew Charitable Trusts. Horry County, South Carolina, officials were in for a shock earlier this year, when they discovered their cyber insurance premium would be spiking from $70,000 last year …

Cyber Insurance Gap Growing: Survey Report

According to a survey report released yesterday, not only are most North American businesses still not buying cyber insurance, but those that are don’t buy enough limit to cover last year’s median ransom demand. Summarizing the results of a poll …

‘Cryptojacking’ Attacks on Financial Firms Surged in First Half

Hackers are increasingly targeting financial firms such as banks and trading houses with attacks designed to use their computer systems to mine cryptocurrencies, according to cybersecurity firm SonicWall. The number of so-called cryptojacking attacks on financial companies more than tripled …

‘BazarCall’ Malware Uses Call Centers to Target Small Businesses: CFC

CFC, a specialist insurance provider and market leader in cyber, warned brokers and their clients today of an emerging method of ransomware attack – dubbed ‘BazarCall’ – which is targeting small businesses. According to CFC’s in-house cyber threat analysis team …

Wall Street Banks Quietly Test Cyber Defenses at Treasury’s Direction

With global tensions rising over Ukraine, the cutthroat competitiveness of the US financial sector is yielding to partnership over the conviction that a cyberattack against even a group of minor banks – or a third-party service provider – could imperil …

Carnival Cruise Pays $5M, Gives Up Insurance Licenses in New York Over Data Breach

New York’s financial services regulator has fined Carnival Corp. $5 million for violations of the state’s cybersecurity regulations that the state says caused four cyber breaches and the exposure of personal data belonging to its customers, including New York consumers. …

Ransomware Attacks Up More Last Year Than In Prior Five Years: Verizon

Verizon released its 15th annual report on data breaches last week, finding that ransomware attacks increased by 13 percent in a single year—representing a jump greater than the prior five years combined. The Verizon Business 2022 Data Breach Investigations Report …