When cyberattack NotPetya quickly made its rounds, one of its hardest-hit victims — shipping conglomerate A.P. Moller-Maersk — learned firsthand the threat of a supplier base. Maersk Chief Technology and Information Officer Adam Banks spoke earlier this month at a cybersecurity conference, reflecting on that...
Cyber crime, cyber attacks and rogue traders have cost banks around the globe a lot of money, and they are increasingly turning to insurance firms to counter those so-called operational risks. According to a report in Reuters, insurers have said they can protect lenders by giving them...
The WannaCry ransomware in May crippled hospitals, railways and government in more than 150 countries: the biggest cyberattack on the books, affecting hundreds of thousands of computers. Few paid up, but with systems down for days or weeks, bottom lines certainly suffered regardless. A month...
Experts are saying that the complexity and scale of the latest global cyberattack point to a hostile government, not a criminal group, as the originator of the attack. And many of them have an educated guess about who it was: Russia. On June 27, the...
July 14, 2017
The WannaCry ransomware in May crippled hospitals, railways and government in more than 150 countries: the biggest cyberattack on the books, affecting hundreds of thousands of computers. Few paid up, but with systems down for days or weeks, bottom lines certainly suffered regardless. A month later, the Petya worm exploited the same Microsoft Windows vulnerability […]
November 25, 2019
As data breaches and ransomware hacks escalate, cyber protection is becoming one of the fastest-growing insurance industry sectors, a Financial Times special report indicated. The cyber insurance sector expected to reach a $7.5 billion valuation by the end of the decade, with small medium-sized businesses (SMBs) a rising customer demographic. Following high-profile cyberattacks two years […]
August 31, 2017
Cyber crime, cyber attacks and rogue traders have cost banks around the globe a lot of money, and they are increasingly turning to insurance firms to counter those so-called operational risks. According...
July 03, 2017
In looking at just where the cyber attacks that hit the Ukraine and spread around the world last week may have originated, the Ukraine has pointed a finger at Russia....
