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Experts suggest French insurer AXA s plan to shun ransomware payouts will set a precedent

Experts suggest French insurer AXA s plan to shun ransomware payouts will set a precedent This photograph taken on April 26, 2021 in Paris shows a physical imitation of the Bitcoin cryptocurrency displayed on foreign bank notes. (Photo by Martin BUREAU / AFP) (Photo by MARTIN BUREAU/AFP via Getty Images) Share May 10, 2021 | CYBERSCOOP When French insurer AXA signaled last week that it would no longer write new cyber-insurance policies covering  extortion payouts to criminals, ransomware and cyber insurance experts had two reactions. They wondered why it took so long, and how long it would take others to follow suit. Ransomware is an ever-increasing cause of cyber-insurance claims, according to industry estimates, and having such insurance may make policyholders more likely to be attacked. A representative of the REvil ransomware gang said in a March interview that the group specifically targets victims known to have cyber-insurance, because they’re “o

Colonial Pipeline: Time for a Disproportionate Response

Philip Reitinger, president and CEO, Global Cyber Alliance It’s serious, impactful and raises new questions about critical infrastructure protection. But don’t tell Philip Reitinger of the Global Cyber Alliance that the Colonial Pipeline ransomware attack is any kind of a “wake-up call.” He says we’re long past that. These type of attacks have been common since 1997, Reitinger says, so “if anybody is surprised, you’re just not paying attention.” The potential economic impact of a long-term shutdown is concerning, but what Reitinger fears the most from the Colonial Pipeline attack is copycat strikes. “It’s now clear that this sort of disruption can be significant,” he says. “While I’m sure the most sophisticated actors were thinking about it, are individual people, or smaller groups - terrorist or criminal groups - now thinking, ‘Hey, this is a way that we can make a name for ourselves ?

El cibearataque a un oleoducto expone la frágil red de infraestructuras de EEUU

El cibearataque a un oleoducto expone la frágil red de infraestructuras de EEUU
elperiodico.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from elperiodico.com Daily Mail and Mail on Sunday newspapers.

Comment les entreprises peuvent faire face à la menace des rançongiciels

Comment les entreprises peuvent faire face à la menace des rançongiciels
lopinion.fr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lopinion.fr Daily Mail and Mail on Sunday newspapers.

Testimony Highlights Funding Gaps in the War on Ransomware

Testimony Highlights Funding Gaps in the War on Ransomware Ransomware is now a national security threat, and states and municipalities require more resources to fight back effectively. A recent Congressional hearing looks to identify their financial and strategic needs. May 07, 2021 •  Chris Krebs, former CISA director, answers questions during the virtual hearing Ransomware has risen as a national security threat, with attacks increasingly compromising critical services, experts and public officials say. Federal legislators now are looking to better understand how they can resource their states and local partners to fuel the fight. “As the ever-increasing number of ransomware attacks on state and local governments demonstrates, adequate investment in cybersecurity has been lacking,” said Yvette Clarke, chair of the U.S. Congress Subcommittee on Cybersecurity, Infrastructure Protection and Innovation, during a recent virtual hearing.

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