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Panelists Discuss Their “One Big Thing” for Incident Response Forum Ransomware 2021
Incident Response Forum Ransomware 2021 panelists offer their “One Big Thing” to take away from this year’s event.
Booz Allen Invests in Industry Leading Digital Forensics and Incident Response Company Tracepoint | Business Wire
Booz Allen Hamilton (NYSE: BAH) announced today that it had made a strategic investment in Tracepoint, a rapidly growing digital forensics and incident response company serving leading clients in the public and private sectors. The company, co-founded by Baton Rouge-based Plexos Group and several industry experts, specializes in supporting cyber insurance carriers, lawyers, brokers, and […]
A Proposed 2021 Biden Ransomware Crackdown | LinkedIn
But the situation is not as hopeless as it seems. Crucial to any successful ransomware scheme is collecting the ransom in pseudo-anonymous cryptocurrency, typically bitcoin. Stop the flow of bitcoin and ransomware attackers will have no means to anonymously, conveniently, expeditiously and securely collect their extortion demand. But how?The answer is simple. By using the effective and novel […]
Most Victim Organizations Suffer Second Intrusion Within a Year – Infosecurity Magazine
Security experts have warned victims of sophisticated cyber-attacks not to think of intrusions as a one-off event, as a majority of organizations end up getting hit again within the year. CrowdStrike compiled an analysis of its own incident response and managed services engagements in 2020, to produce the CrowdStrike Services Cyber Front Lines Report. It warned […]
Global cybercrime losses rapidly approaching trillion-dollar mark – McAfee report
Global losses from cybercrime are close to becoming a ‘trillion-dollar’ shackle that is weighing down the global economy, with the annual global cost of cybercrime pegged at $945 billion – or 1% of the entire world’s GDP. These are some of the figures from McAfee’s The Hidden Costs of Cybercrime report, conducted in partnership with […]
Pinsent Masons launches digital cyber-attack response platform – Cyturion
Cyturion, developed by the firm’s in-house technology specialists provides organisations with detailed response plans and advice for managing and recovering from various types and severity of cyber-attacks such as business email compromise, invoice diversion, malware, ransomware and cyber-extortion. The tool, which is led and implemented by the firm’s specialist cyber legal team, provides detail on […]
Guest Post: Be Prepared: Costly Cyber Claims Could Lead to Higher Premiums in 2021 | The D&O Diary
The rarified place that cybersecurity insurance (“cyber insurance”) used to hold in the strata of the more “profitable” corporate insurance products is quickly closing, as significant losses are now more prevalent on the books of cyber insurance carriers. (And growing monthly.) Will higher cyber insurance premiums follow? Will limits of liability contract as cyber insurers closely […]
Ransomware gangs now even calling victims to meet demands: Report – Express Computer
Some ransomware groups have now resorted to cold-calling victims to pressure them into paying ransom demands if they come to know that the targeted organisations were attempting restoration from backups, said a media report. Some of the ransamware gangs that have used this tactic include Conti and Ryuk, a spokesperson for New Zealand-headquartered cybersecurity firm […]
The Ill-Fated Emergence of the Bitcoin Balance Sheet
This year MicroStrategy relished in a good problem to have – a half a billion dollars of cash in its bank account and not sure what to do with it. The company could have paid its shareholders a hefty dividend, bought back a truckload of its stock, invested in R&D, financed new acquisitions or pursued […]
As bitcoin soars, so do ransomware attacks. Is it time to ‘stop the madness?’ — bobsullivan.net
Which brings me to Bitcoin and other cryptocurrencies. The vast majority of ransomware gangs demand payment via cryptocurrency, which they favor for its anonymity and the way it enables cross-border payments. Since global law enforcement authorities seem powerless to stop the crypto crime gangs, is it time to stop the crypto? Source: As bitcoin soars, so do […]
Law Firms’ Reported Cyberattacks Are ‘Tip Of The Iceberg’
On top of that, there are just too many methods that bad actors can deploy to gain access to a firm’s system or database, said John Reed Stark, a former U.S. Securities and Exchange Commission internet enforcement chief and the president of data breach response and digital compliance firm John Reed Stark Consulting LLC. Just […]
Financial institutions a top target for COVID-era cyberattacks | PropertyCasualty360
In July 2020, Kroll observed a 22% increase in attacks targeting the financial services sector based on its incident response case intakes. Business email compromise (BEC), fraud and ransomware were the top three threats impacting the industry, and Kroll has seen the number of incidents steadily rise amidst the COVID-19 crisis. From a network topography […]
Ransomware Payments can lead to Sanctions and Reporting Obligations for Financial Institutions | The Anticorruption Blog
With cybercrime on the rise, two U.S. Treasury Department components, the Office of Foreign Assets Control (“OFAC”) and the Financial Crimes Enforcement Network (“FinCEN”), issued advisories on one of the most insidious forms of cyberattack – ransomware. via Ransomware Payments can lead to Sanctions and Reporting Obligations for Financial Institutions | The Anticorruption Blog.
Ransomware Victims That Pay Up Could Incur Steep Fines from Uncle Sam — Krebs on Security
Companies victimized by ransomware and firms that facilitate negotiations with ransomware extortionists could face steep fines from the U.S. federal government if the crooks who profit from the attack are already under economic sanctions, the Treasury Department warned today In its advisory (PDF), the Treasury’s Office of Foreign Assets Control (OFAC) said “companies that facilitate […]
Panelists Discuss Their “One Big Thing” for Incident Response Forum Europe 2020
Incident Response Forum Europe 2020 panelists offer their “One Big Thing” to take away from this year’s event.