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 suspects of targeting hundreds of entities in the U.S. and around the world, encrypting and…

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Lloyd’s Insurers Must Exclude State-Backed Cyber Attacks to Avoid Systemic Risks

  Lloyd’s insurers must exclude state-backed cyber attacks in standalone (or affirmative) cyber policies, according to a Lloyd’s market bulletin issued this week. The exclusion would include liability for losses arising from both war- and non-war-related state-backed cyber attacks. “Lloyd’s remains strongly supportive of the writing of cyber attack cover but recognizes also that cyber-related…

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Cyber Insurance Price Hike Hits Local Governments Hard

  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 to about $210,000. And if they couldn’t satisfy the insurance company’s requirements and prove they had the robust controls needed to protect and defend themselves against cyberattacks,…

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FBI warns hackers are using fake crypto apps to defraud investors

  FBI warns hackers are using fake crypto apps to defraud investors The FBI has issued a public warning about fraudulent cryptocurrency investment apps after hackers posing as legitimate services stole tens of millions of dollars from U.S. investors. In an advisory published on Monday, the law enforcement agency said hackers have been posing as legitimate cryptocurrency investment organizations in…

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FBI warns new ransomware strain

FBI sounds the alarm over virulent new ransomware strain By Sead Fadilpašić   At least 60 organizations attacked in less than two months A virulent new ransomware strain has infected at least 60 different organizations in the last two months, the FBI has warned. In a Flash report, published late last week, the intelligence agency said that BlackCat, a…

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The Russian-speaking ransomware group Stormous is claiming to have stolen 161GB of data from Coca-Cola

2 MIN READ   ARTICLE Coca-Cola Investigates Data-Theft Claims After Ransomware Attack The Stormous ransomware group is offering purportedly stolen Coca-Cola data for sale on its leak site, but the soda giant hasn’t confirmed that the heist happened. By Becky Bracken, Editor April 27, 2022 Source: Ekaterina Mineva via Alamy The Russian-speaking ransomware group Stormous…

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Cyber Attacks / Prevention Tactics

Cyber Attacks and Prevention Tactics: Worldwide cyber security spending will reach $133.7 billion by 2022 according to a Gartner Inc. prediction. Cyber attacks are growing increasingly sophisticated forcing organizations to invest heavily in developing strategies for preventing data breaches.  Cyber Crime Statistics: Spending, Costs and Causes. Half of large enterprises (over 10,000 employees ) spend…

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Cyber Security Insurance

Do you need cyber security insurance? Cyber security is not mandatory, but it can protect your business especially if your business collects, stores or handles confidential data, such as customer payment, credit, medical, identification or bank account information.  It is important that you take proactive measures to ensure proper security policies are in place and…

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7 Types of Cyber Security Threats

7 types of Cyber Security Threats   Malware • Block access (ransomware) • Install harmful software • covertly obtain information (spyware) • making the system inoperable    Emotet  • continues to be the most costly and destructive malware    Denial of Service (DoS) is a type of cyber attack that makes a computer or network…

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Cyber Extortion

What is cyber extortion? Cyber extortion is an online crime which hackers hold your data, website, computer systems, or other sensitive information hostage until you meet their demands for payment. It often takes the form of ransom ware and distributed denial-of-service (DDoS) attacks, both of which could paralyze your business. Cyber liability insurance provides coverage…

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