Claims on cyber insurance have dropped by more than a third between 2022 and 2024, despite more organizations than ever having this type of cover. This was revealed in Databarracks’ Data Health Check – an annual survey of 500 UK IT decision-makers. Two-thirds (66%) of those surveyed report having insurance specifically for cyber in 2024, rising from 51% over the past two years. However, as more organisations take out policies, 36% made a claim this year, falling from 58% in 2022. According to Jammes Watts, MD of Databarracks, these findings are likely linked to an increasing number of ransomware recoveries.…
Author: ISB Staff Reporter
In a year marked by significant shifts in the cybercrime landscape, 2024 is on track to become the highest-grossing year for ransomware, even as overall illicit activity on the blockchain has declined by nearly 20% year-to-date. This trend highlights the growing severity and sophistication of ransomware attacks, which continue to extort larger payments from victims, particularly those in critical infrastructure and large corporations. Ransomware Payments Reach New Heights One of the most alarming developments in 2024 is the record-breaking increase in ransomware payments. This year has already seen the largest single ransomware payment ever recorded, a whopping $75 million made…
Background check provider National Public Data (NPD) has confirmed a data breach after hackers leaked a stolen database containing millions of Social Security numbers and other sensitive information. The compromised data reportedly includes names, email addresses, phone numbers, Social Security numbers (SSNs), and mailing addresses. The breach has been linked to a hacking attempt from late 2023. NPD acknowledged data leaks in April and summer 2024, attributing them to the same threat actor responsible for the December 2023 incident. The company has since investigated the breach, cooperated with law enforcement, and reviewed the affected records. If significant developments arise, impacted…
Sophos researchers have uncovered a new tool, EDRKillShifter, that malicious actors are using to target endpoint detection and response (EDR) systems. The discovery came after an unsuccessful ransomware attack in May. The threat actors deployed the tool to disable endpoint protection software and execute the notorious RansomHub ransomware. The attack failed when Sophos’ protection systems detected and blocked the ransomware. According to Sophos, this tool is a significant evolution in malware that targets EDR systems as more businesses are investing in these technologies to protect themselves from cyber threats. Since 2022, Sophos has seen a rise in malware designed to…
A Moscow-based Russian national, Georgy Kavzharadze, has been sentenced to 40 months in federal prison for selling stolen financial information on the dark web marketplace known as Slilpp. The US Attorney’s Office for the District of Columbia announced that Kavzharadze, 27, was a prolific vendor of login credentials, personal information, and other sensitive information using the alias “TeRorPP.” On 16 February 2024, Kavzharadze pleaded guilty to conspiracy to commit bank and wire fraud. Over and above his prison sentence, he was ordered to pay more than $1.2 million in restitution for damages caused by his criminal activities. Using several online…
Researchers from Kaspersky have detected a series of ongoing targeted cyberattacks on dozens of computers at Russian government entities and IT organizations. The bad actors infected devices via phishing emails with malicious shortcut attachments. These shortcuts were used to deliver malware that received commands via the popular cloud service Dropbox. Malicious actors used this malware to download additional payloads onto infected machines, in particular tools used by the APT31 group and an updated CloudSorcerer backdoor. Kaspersky has named this campaign EastWind. The security giant shared some interesting facts about the implants used in this campaign: Detecting Attacks The implants pinpointed…
Malware loaders are a significant threat in the cybersecurity landscape, with nearly 40% of all malware observed in critical security incidents involving these specialized tools. Among the most prevalent loaders are “SocGholish,” “GootLoader,” and “Raspberry Robin,” which have been frequently used by cybercriminals to deliver a range of secondary malware, including ransomware. This was revealed in ReliaQuest’s recent report, which examines the most common malware loaders today. Loaders are specialized forms of malware designed to gain an initial foothold in a system before downloading and executing additional, often more destructive, malware. Their ability to deliver secondary payloads makes them a…
In 2024, email breaches continue to pose a significant threat to personal and corporate security, with millions of email addresses exposed in data hacks. An email breach occurs when malicious actors infiltrate a company’s system, stealing customer data, including email addresses. This stolen information can be used for phishing attacks, identity fraud, and other malicious activities. The Red Flags If you’ve noticed trouble logging into your email or unusual activity within your account, your email address may have been compromised. While services like Norton and Have I Been Pwned allow users to check if their email has been part of…
The US Department of Commerce’s National Institute of Standards and Technology (NIST) has officially released its first set of finalized encryption standards designed to withstand attacks from quantum computers. These post-quantum encryption standards are expected to secure a wide array of electronic information, from confidential emails to vital e-commerce transactions. NIST has urged computer system administrators to begin transitioning to these new standards without delay, emphasizing the importance of early adoption to safeguard digital infrastructure from potential quantum threats. A Leap Forward in Quantum-Resistant Security Developed in response to the rapid development of quantum computing technology, which experts predict could…
Twitter, recently rebranded as “X,” is under increased scrutiny after nine additional complaints were filed across Europe, alleging the company unlawfully used the personal data of over 60 million EU/EEA users to train its AI technologies without their consent. This comes shortly after the Irish Data Protection Commission (DPC) initiated legal proceedings to halt the illegal data processing but has been criticized for not fully enforcing the GDPR. The complaints, filed by the non-profit privacy advocacy group noyb, span Austria, Belgium, France, Greece, Ireland, Italy, the Netherlands, Spain, and Poland. The group argues that Twitter’s actions mirror Meta’s recent failed…
