Ally Bank, a popular online financial institution, leaked user names and passwords in the clear to third-party marketing partners. They took over 2 months to notify customers of the breach and have so far refused to name who the data was leaked to. Companies we entrust with our data (and money) need to do better.…
The biggest global ransomware attack yet continued to bite Monday as details emerged on how the Russia-linked gang responsible breached the company whose software was the conduit. In essence, the criminals used a tool that helps protect against malware to spread it widely. An affiliate of the notorious REvil gang, infected thousands of victims in…
A group of Russian-speaking hackers have claimed responsibility for a massive ransomware attack over the holiday weekend that hit 200 U.S. companies and hundreds more worldwide, with the group demanding $70 million in bitcoin to restore the companies’ data in the latest debilitating cyberattack to hit the U.S. this year. Hackers breached Kaseya The ransom…
As the Department of Financial Services noted in the Cyber Insurance Risk Framework in February 2021, the cost of ransomware attacks has also shaken up the cyber insurance market. Because of ransomware, loss ratios on cyber insurance increased from an average of 42% during 2015-2019 to 73% in 2020. Cybercriminals keep demanding larger sums –…
Steve Daines (R-Mont.) and Sheldon Whitehouse (D-R.I.) on Wednesday introduced a bill that would take steps to potentially allow private sector companies to strike back at hackers launching attacks against their operations. The bipartisan bill would direct the Department of Homeland Security (DHS) to conduct a study on what the potential benefits and risks may…
After a roller coaster of a ride in 2020 and into 2021, businesses just like yours are looking to the future. Their eyes aren’t just on recovery. Many businesses are eager to make up for lost time, and they want to bring new customers into the fold. There are countless growth strategies out there, but…
As the number of spam and phishing emails continues to rise, it is increasingly more valuable for you and your staff to be trained how to recognize a scam when you see one. Do you know how to identify and handle email scams that want to infiltrate your business? Let us start with these tricks…
Hackers have posted 42 gigabytes of data allegedly stolen from CEFCO Convenience Stores on a website known as Marketo. Marketo the platform that holds all the stolen data is now accelerating things further and emailing the victim’s competitors for samples of stolen information and luring them to purchase the same. Though the Marketo platform and…
The recent increase of ransomware attacks is upending the cyber insurance industry, pushing up the requirements and cost of coverage just as more companies need it. According to blockchain research firm Chainalysis, ransom payments from companies increased 341 percent to a total of $412 million during 2020. That is pushing insurance carriers to take a…
A data breach at a vendor impacted more than 3.3 million customers and prospective buyers in North America. Volkswagen AG’s U.S. unit said a data breach at a vendor impacted more than 3.3 million customers and possible buyers in North America. Nearly all those impacted were current or potential customers of Audi, one of the…