Insuring Cyber Podcast: Social Engineering Risks Rising, but Cyber Coverage Still Lacks
The COVID-19 pandemic has upended the work environment in many ways, and cyber experts say one unfortunate result of the switch to remote work is an increase in cyber crime, particularly around social engineering threats.
“The bottom line here is similar to how in the aftermath of any kind of natural disaster or major event, it really breeds scammers and fraudsters,” says Erin Kenneally, head of Cyber Risk Analytics for property/casualty industry technology provider Guidewire, on this episode of the Insuring Cyber Podcast. “They come out of the woodwork, and the COVID-19 crisis made good on this pattern of calamities that attract these opportunistic cyber criminals.”
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The former head of the NCSC recently called for a dialogue over whether or not it is time to ban insurers from covering ransomware payments. Is he on the right track?
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In January 2021, the UK’s
Guardian newspaper ran an interview with Ciaran Martin, the founding head of the National Cyber Security Centre (NCSC), who since leaving his post in 2020 has become involved with a number of other ventures, including teaching and startup investment.
In this interview, Martin – who has previously been outspoken over his concerns about ransomware, saying that at the NCSC it had frequently kept him awake at night – said the scourge was now near to getting out of control and highlighted in particular the risk to the NHS and other critical systems during the Covid-19 pandemic.
Sergio Flores/Reuters
US government agencies and private organizations have been the targets of a cyberattack that was only just uncovered this month.
A group of hackers believed to be associated with the Russian intelligence agency SVR infiltrated a SolarWinds software update earlier this year.
This is a huge problem for two major reasons: The attackers were able to gain access for a long period of time without being detected, and it will also take a long time for security experts to determine the extent of what s been compromised. Fragments of attacks can sit dormant for months, and years, and only revive when the author wants them to begin their job, cybersecurity expert Sean Harris told Business Insider. Stealth is the most worrisome aspect of these attacks.
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The fallout from the SolarWinds hack that infiltrated the US Treasury and Homeland Security will get worse before it gets better
The fallout from the SolarWinds hack that infiltrated the US Treasury and Homeland Security will get worse before it gets better
Jason AtenDec 22, 2020, 00:20 IST
SolarWinds headquarters in Austin, Texas.Sergio Flores/Reuters
US government agencies and private organizations have been the targets of a cyberattack that was only just uncovered this month.
A group of hackers believed to be associated with the Russian intelligence agency SVR infiltrated a
SolarWinds software update earlier this year.
This is a huge problem for two major reasons: The attackers were able to gain access for a long period of time without being detected, and it will also take a long time for security experts to determine the extent of what s been compromised.