Canadian Underwriter

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ransomware


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Cyberespionage and ransomware attacks on the increase, report warns

April 27, 2017 by Canadian Underwriter

Cyberespionage is now the most common type of attack seen in the global manufacturing, education and now public sectors, a new report has revealed. According to the Verizon 2017 Data Breach Investigations Report (DBIR), released on Thursday, ransomware is now

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New phishing scams aimed at accessing direct deposit funds emerging: Beazley

April 25, 2017 by Canadian Underwriter

Phishing scams aimed at accessing direct deposit funds have emerged as a new danger in 2017, specialist insurer Beazley said on Tuesday. Phishing scams aimed at accessing specific employee tax information were a continuing threat, representing 9% of all breaches

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Cyber risk management starts with preparing children ‘around a whole different mindset,’ says former Toronto deputy police chief

March 6, 2017 Greg Meckbach, Associate Editor

Cyber security is more of a human resources issue than a technological issue, while cyber security threats are often detected more than six months after they occur, speakers told insurance professionals at a conference last week. “The nature of IT

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Number, sophistication and severity of cyberattacks on Canadian companies on the rise: study

February 9, 2017 by Canadian Underwriter

The number, sophistication and severity of cyberattacks on companies in Canada are each on the rise, with the average number of reported cyberattacks rising to 44 attacks per year, according to the findings of a new study. Scalar Decisions Inc.

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Ransomware attacks quadrupled in 2016, projected to double again in 2017: Beazley

January 26, 2017 by Canadian Underwriter

Beazley, a provider of data breach response insurance, said in a report on Thursday that ransomware attacks quadrupled in 2016 and they are projected to double again in 2017. Beazley released its Beazley Breach Insights – January 2017 findings based

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Personal and health-related information most desirable breach target, big risk for insurance: KPMG speaker

December 12, 2016 Angela Stelmakowich, Editor

Data breaches involving personal and health-related information are a “huge risk for those in the insurance industry” given that the shelf-life of the data likely runs as long as the affected individual remains alive, Kevvie Fowler, national leader of cyber

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Evolving technology expected to introduce new cyber threats, broadened attacks: Trend Micro

December 7, 2016 by Canadian Underwriter

The coming year is expected to witness evolving technology that introduces new cyber threats and attacks that broaden and differentiate to penetrate new vulnerable surfaces, suggests a report issued Wednesday by Trend Micro Incorporated. The expectation is 2017 “will include

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U.S. prosecutor’s office paid bitcoin ransom in cyberattack

December 6, 2016 Joe Mandak - THE ASSOCIATED PRESS

PITTSBURGH – A state prosecutor’s office in Pennsylvania was among hundreds of thousands of victims of a now-shuttered international cybercrime operation, paying nearly $1,400 in a bitcoin ransom to free up its infected computer network, authorities disclosed Monday. Federal prosecutors

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One-quarter of Canadian small and medium businesses with revenue over $10M victims of cyberattack: study

October 12, 2016 by Canadian Underwriter

One in four Canadian small and medium-sized businesses (SMBs) with annual revenue over $10 million have been victims of a cyberattack compared to only one in 10 with annual revenue under $10 million, according to a new survey from Internet

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One cryptomalware attack can cost a small- or medium-sized business up to US$99,000: Kaspersky

September 9, 2016 by Canadian Underwriter

One cryptomalware attack can cost a small or medium business (SMB) up to US$99,000 on average, according to recent research from global cybersecurity company Kaspersky Lab. And “despite the fact that cybercriminals do not guarantee the return of corporate data,

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Pay Day?

September 5, 2016 Angela Stelmakowich, Editor

Will spinning the ransomware wheel mean boom or bust for businesses and organizations? The malicious software is increasingly being used to test security preparedness. Absent well-conceived, committed and ongoing protection, though, this malware du jour is likely to continue its costly winning streak.

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Canadian companies likely to pay ransomware demands, among highest for lost revenue and business interruption, international study finds

August 4, 2016 by Canadian Underwriter

Companies in Canada are most likely to pay ransomware demands and are ranked among the highest for lost revenue and business interruption, according to an international study of 5,400 IT staff across Canada, the United States, the United Kingdom and