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Corporate News, Security News

Zurich rolls out cyber insurance coverage for manufacturers

Zurich Insurance has rolled out a new industry specific endoresements to its cyber insurance policies to provide coverage for manufacturers. This additional coverage was created due to the increased cyberthreat these companies are now under and the fact that many manufacturers, particularly mid-sized firms, are unaware and possibly less prepared to deal with, the risks…
SC Security Ops Center, Security News

Setting up for success when buying cyberinsurance

When is a war really a not a war, at least as far as an insurance company is concerned? That is the question the cybersecurity and insurance industries are likely to find out at the conclusion of a court case between Zurich International and the U.S. food company Mondelez International, one of the many firms…
Ransomware5
Cybercrime

Erebus ransomware attack demanded $1.62 million from South Korean firm

South Korean firm NAYANA was hit with a Linux ransomware attack that demanded an unprecedented 550 Bitcoins (BTC) or $1.62 million ransom. The attack occurred on June 10, 2017, and on June 12, 2017, the company announced the attack. On June 14, 2017 the web hosting company was eventually able to negotiate down to the…
cyberattack, Security News

Cyberattack causes $95 million loss for Demant

The Danish hearing aid manufacturer Demant has quickly piled up a $95 million bill associated with a cyber incident that struck the company in early September. In a September 26 financial statement, the company revealed how the cyber incident that began on September 3 has impacted the company’s financial situation. Demant executives credited the quick…
Email Security

Almost all business report being hit with an email-borne attack, survey

The almost total pervasiveness of phishing scams and other email-based attacks can be seen in a recent survey that found almost 90 percent of the cybersecurity executives saying their company was hit with an attempted or successful email-based cyberattack in the last year. The Barracuda survey found employers are experiencing more email attacks with 81…
Data on patients may be exposed after X-rays go missing
Data Breach

Suspicious network activity could be symptom of breach at diagnostics firm LabCorp

Clinical medical diagnostics company LabCorp took some of its systems offline following suspicious network activity that could possibly indicate a serious breach of sensitive medical information. The $10.2 billion Burlington, N.C.-based health care company disclosed in a Securities and Exchange Commission (SEC) filing this week that the unusual activity was detected during the weekend of…
Picture credit: WiseGEEK
Data Breach, Security News

Cyber insurance premium costs rise 5 percent for 2019, despite increased attacks

The average cost for cyber insurance rose about five percent in 2019 despite the large increase in the number of attacks and claims files, a new report has found. The business insurance advisory firm AdvisorSmith told SC Media this counter intuitive result is due to the fact that while claims rose 20 percent in 2018…
Cybercrime, Ransomware, Security News

Dodging AV and endpoint defenses is a ‘snap’ for new Thanos ransomware

Researchers say that a new ransomware builder tool named after the super-villain Thanos — made available for sale on dark web forums — is the first to strategically use RIPlace, a Microsoft Windows file system technique that’s known to bypass antivirus protections and endpoint detection and response solutions. The implementation of RIPlace, combined with the…
Coronavirus, Cybercrime, Malware, Mobile Security, Ransomware, Security News

Password found to rescue victims of malicious COVID-19 tracker app

Members of the IT and cybersecurity communities have successfully obtained a password key for victims of CovidLock Android ransomware, which comes disguised as an app that supposedly helps track cases of the coronavirus, but actually locks users’ phones and demands a ransom in order to restore access. The unlock token has been verified as 4865083501.…
Features, Security News

The hottest topic: Ransomware

The attacks that transpired last year alone arguably made ransomware the hot topic of the year and most likely a leading contender for 2020, as well, but a new element that cropped up late last year – attackers adding a layer of blackmail to the threat of locking a target’s computer system – solidified its…
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