Fraud and ransomware dominate cyber insurance claims
Ransomware accounts for 23 percent of cyber insurance claims, while while fraudulent funds transfer (FFT) accounts for 28 percent according to insurance specialist Corvus, which has released its latest Risk Insights Index.
The impact and consistency of FFT is growing, accounting for 36 percent of all claims in the last quarter (Q3 2022), an all-time high. Indeed this metric has not dropped below 25 percent for the past six quarters.
Cyber extortion dominates the threat landscape
Cyber extortion is impacting businesses of all sizes across the world, and 82 percent of observed are small businesses, an increase from 78 percent last year.
The latest Security Navigator report from Orange Cyberdefense shows a marked slow-down in cybercrime at the onset of the Ukraine war, but intensity soon increasing again.
It's time for better data protection: Why the 3-2-1 rule isn't enough
With reports showing that 90 percent of organizations were impacted by ransomware over the past twelve months, policies ensuring that data is both safeguarded and recoverable have become a necessity rather than an option.
However, changes to the data security landscape in the intervening years since methods such as the 3-2-1 backup rule were first adopted means these approaches may no longer be fit for purpose when it comes to mitigating against data loss.
Companies caught off guard by holiday and weekend ransomware attacks
Ransomware attackers are exploiting the fact that organizations have fewer security staff available at weekends and holiday times in order to launch more devastating attacks.
A new report from Cybereason shows 44 percent of companies reduce security staffing over holidays and weekends by as much as 70 percent compared to weekday levels. 21 percent reduce staff by as much as 90 percent.
60 percent of SMBs are not confident of fending off a ransomware attack
Smaller businesses are an attractive target for attackers since they often don't have the same security resources as larger organizations.
A new report from OpenText Security Solutions, based on a survey of over 1,300 security and IT professionals at SMBs, reveals 84 percent are concerned about a ransomware attack impacting their business and 60 percent are not confident they can fend off such an attack.
New gangs and new tactics mean more victims of ransomware
Ransomware actors have been forming affiliate gangs and using new tactics in order to lure additional victims, according to a new report.
The latest 2022 Bi-Annual Cyber Threat Report from Deep Instinct reveals changes in the world of ransomware gangs, including LockBit, Hive, BlackCat, and Conti.
Ransomware attacks are down in the third quarter
The period from July to September this year has seen 27 ransomware variants used to conduct 455 attacks according to cybercrime intelligence company Intel 471's Spot Reports and Breach Alerts.
This represents a decrease of 38 attacks from the second quarter of 2022 and 134 from the first quarter of 2022.
New ransomware groups emerge but overall activity slows
Research from GuidePoint Security shows eight new ransomware groups have emerged in the last quarter and that there has been at least one new ransomware group each month since January 2021.
The report, from the GuidePoint Research and Intelligence Team (GRIT), tracked 27 ransomware groups and 568 publicly posted victims in the third quarter of this year and shows a slight slowdown overall of ransomware activity from the previous quarter.
The forensic analysis of a ransomware attack [Q&A]
A ransomware attack can be devastating for businesses. But while in the aftermath of an attack the focus will be on recovery, it's also important to look at how the attack happened and what information can be gleaned to help prevent future incidents.
We spoke to Joseph Carson, chief security scientist at privileged access management specialist Delinea, to talk through the analysis of a typical attack and what lessons can be learned.
Politically motivated ransomware declines as attackers switch back to old targets
Ransomware operators have turned their attention away from politically motivated attacks focusing on Russia back to their usual targets such as the United States, China, and Israel.
The latest T2 2022 threat report from ESET also shows the total number of RDP attack attempts has declined by a further 89 percent. The likely reasons for the decline are post-COVID return to offices, improved security, and the Russia-Ukraine war.
46 percent of ransomware attacks happen in the US but who are the targets?
US companies are the most affected by ransomware, with 46 percent of all ransomware attacks happening there, according to new research by cybersecurity company NordLocker.
But just who is being targeted? The research finds that out of 18 industries identified, construction accounts for 12 percent of all attacks. Next most likely to be hit are manufacturing (9.6 percent), transportation (8.2 percent), healthcare (7.8 percent), and tech/IT (7.6 percent).
Businesses facing a data protection emergency as backup strategies fail to keep up
Nearly eight out of ten (79 percent) of UK and Irish IT decision makers and professionals say there are gaps between their data dependency, backup frequency, SLAs and ability to get back to productive business.
The results of the Data protection Trends Report from Veeam Software also show that 76 percent of respondents admit falling prey to at least one ransomware attack in the past year, with 65 percent now using cloud services as part of their data protection strategy to increase resiliency.
Legacy technology undermines ransomware response
Almost half of respondents to a new survey say their company depends on outdated, legacy backup and recovery infrastructure to manage and protect their data. 46 percent are relying on primary backup and recovery infrastructure that was designed in, or before, 2010.
The study commissioned by Cohesity from Censuswide also finds 62 percent expressed some level of concern over whether their IT and security teams would be able to mobilize efficiently to respond to an attack.
Think your business is ready for ransomware? Think again
Although business leaders think they're fully prepared to deal with ransomware, actual outcomes suggest otherwise, according to a new report.
Druva has commissioned IDC to conduct independent research into ransomware preparedness, challenges, and threats to find out how approaches to ransomware are changing and whether common recovery efforts are effective.
Ransomware affects 90 percent of companies in the past year
Despite increased spending on cybersecurity, a new report reveals that 90 percent of organizations were affected by ransomware in some way over the past 12 months, up from last year's 72.5 percent.
The study from SpyCloud shows that security efforts are being stepped up, the number of organizations that have implemented or plan to implement multi-factor authentication jumped 71 percent, from 56 percent the previous year to 96 percent. Monitoring for compromised employee credentials also increased from 44 percent to 73 percent.
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