Tagged: cyberattacks

January 18, 2025 @ 1:37 pm By Omar Faridi  |  

CyberCube, the global firm focused on cyber risk analytics, has released its 2025 Predictions Report, offering insights into the dynamics of the cyber (re)insurance market. The report identifies trends and challenges shaping the sector in the year ahead. As noted in the update from CyberCube:… Read More

January 8, 2025 @ 8:52 pm By Omar Faridi  |  

Radiant Capital has shared an important update on the October 16, 2024 incident in which Radiant Capital was targeted by a “highly sophisticated” cyberattack that resulted in a loss valued at “approximately $50M USD.” On October 17, 2024, Radiant released a post-mortem of the attack… Read More

November 30, 2024 @ 1:53 pm By Omar Faridi  |  

The latest 2024 Cyber Risk Index from Embroker reportedly shows coverage confidence increase, even as startups fear AI’s (artificial intelligence) shadow. Embroker‘s 2024 Cyber Risk Index is focused on revealing how founders are approaching cyber risk and “how they feel about coverage.” As cyberattacks continue… Read More

July 30, 2024 @ 9:23 am By Omar Faridi  |  

Kaspersky is pleased to announce the launch of a new AI-focused module within its Kaspersky Automated Security Awareness Platform (ASAP). This latest addition aims to equip professionals “with the necessary skills to combat the evolving threats posed by AI-driven cyberattacks.” The urgency of understanding AI-related… Read More

May 10, 2024 @ 5:07 pm By Omar Faridi  |  

Threat actors are leveraging sophisticated technologies, like automated scripts and botnets, to amplify their card testing attacks, “allowing them to exploit vulnerabilities at an unprecedented scale and speed.” This, according to an update from Visa (NYSE:V). These attacks, known as enumeration attacks, “inflict operational expenses… Read More

April 14, 2024 @ 10:40 pm By Omar Faridi  |  

Cyberattacks have more than doubled since the pandemic, according to a recent update shared by the International Monetary Fund (IMF). While companies have historically suffered relatively modest direct losses from cyberattacks, some have “experienced a much heavier toll,” the IMF report notes. US credit reporting… Read More

January 22, 2024 @ 5:48 am By Omar Faridi  |  

NAB has partnered with Microsoft (Nasdaq: MSFT) to deliver a free cyber assessment tool in order “to help Aussie small businesses prepare for and bounce back from a cyber attack.” The tailored, self-assessment – available for all Australian businesses from now – “takes under two… Read More

October 1, 2023 @ 9:51 pm By Omar Faridi  |  

Organizations in the United Kingdom reportedly suffered a record number of ransomware attacks last year, according to analysis of a dataset published by the Information Commissioner’s Office (ICO). In its data security incident trends – which “are reported to the data protection regulator – the… Read More

September 24, 2023 @ 12:33 pm By Omar Faridi  |  

Nation-state cyber threat activity will push the boundaries of war exclusion language, warns cyber risk analytics specialist CyberCube. In a report examining selected nation-state cyber hot zones to gain insight into the potential cyber (re)insurance impacts of future cyber wars, CyberCube monitors these hot zones… Read More

August 29, 2023 @ 11:49 pm By Omar Faridi  |  

In recent weeks, cybersecurity firms have issued “a dozen ransomware reports, most of which show a considerable increase in attacks,” according to an update shared with CI. As noted in an NCC Group’s July 2023 cyber threat intelligence report, the business saw over 500 attacks… Read More

July 30, 2023 @ 9:05 pm By Omar Faridi  |  

Trustmi announced its official launch as a pioneering leader in business payments security. The cybersecurity Fintech company says that it “offers an intuitive, end-to-end solution that helps businesses protect their bottom line by eliminating losses from cyberattacks, internal collusion, and human error, ensuring payments go… Read More

April 20, 2023 @ 8:31 am By Omar Faridi  |  

The digital bank N26 announced its new campaign, “Security Explained Simply” in order to help “decode the increasingly complex landscape of security in digital banking.” Each of the five updates featured in the campaign “discuss a separate security concept narrated by a character that relates… Read More

April 3, 2023 @ 11:26 pm By Omar Faridi  |  

HYPR, the Passwordless Company and Vanson Bourne released the 2023 State of Passwordless Security Report. This third annual edition reveals “that insecure authentication is a primary cause of cyber breaches and that cumbersome login methods take an unacceptable toll on employees and business productivity.” Respondents… Read More

April 3, 2023 @ 8:30 am By Omar Faridi  |  

A report published by the World Economic Forum (WEF) explores how technology-driven risks originating in financial services sectors “could become systemic threats to the global financial system.” Pushing Through Undercurrents, developed in collaboration with Deloitte, “examines how different forces influence the way tech-driven risks spread and… Read More

March 21, 2023 @ 9:08 pm By Omar Faridi  |  

Mastercard (NYSE: MA) recently acquired cloud-based cybersecurity company Baffin Bay Networks in order to better help businesses deal “with the increasingly challenging nature of cyberattacks.” Baffin Bay Networks, based in Sweden, “adds to Mastercard’s multi-layered approach to cybersecurity and helps to stop attacks, while mitigating… Read More

January 29, 2023 @ 11:08 pm By Omar Faridi  |  

Protecting and insuring against cyber risks are priorities for all companies and organizations. French cybersecurity firm EGERIE has raised 30 million euro, from investors with expertise in insurance and cybersecurity (Tikehau Capital, Open CNP, Banque des Territoires and TIIN Capital) in order “to help executives… Read More

January 15, 2023 @ 3:43 pm By Omar Faridi  |  

Cowbell, the provider of cyber insurance for small and medium-sized enterprises (SMEs), has released a new whitepaper, “Modeling Catastrophic Cyber Events”, which lays out a path to model catastrophic cyber events in the SME market. Cowbell’s goal is “to help SMEs prevent and recover from… Read More

November 8, 2022 @ 1:53 pm By Omar Faridi  |  

The cyber risk landscape is “rapidly evolving,” with cyberattacks increasing in severity and sophistication. Hackers now “use triple extortion techniques and ransomware-as-a-service has lowered entry barriers for cybercriminals.” In addition, increased digitalization of critical infrastructure has made it “more vulnerable to cyber threats – with… Read More

October 30, 2022 @ 2:07 pm By Omar Faridi  |  

Aunalytics, a data management and analytics company delivering managed IT and data platform services for mid-sized and enterprise businesses, “highlighted top security priorities to follow when reinforcing defensive security strategies against malicious cyber threats.” The guidance is “provided as Cybersecurity Awareness Month comes to a… Read More

September 4, 2022 @ 2:31 pm By Omar Faridi  |  

So far in 2022, $2,338,910,183 billion has been “lost to various scams and exploits in the Web3 world and a total of ~377 attacks recorded this year,” according to an update shared by CertiK. Just like in July, August has “seen the same number of… Read More