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How MFA Failures are Fueling a 500% Surge in Ransomware Losses

How MFA Failures are Fueling a 500% Surge in Ransomware Losses

Jul 02, 2024 Multi-Factor Authentication
The cybersecurity threat landscape has witnessed a dramatic and alarming rise in the average ransomware payment, an increase exceeding 500%. Sophos, a global leader in cybersecurity, revealed in its annual "State of Ransomware 2024" report that the average ransom payment has increased 500% in the last year with organizations that paid a ransom reporting an average payment of $2 million, up from $400,000 in 2023. Separately, RISK & INSURANCE, a leading media source for the insurance industry reported recently that in 2023 the median ransom demand soared to $20 million in 2023 from $1.4 million in 2022, and payment skyrocketed to $6.5 million in 2023 from $335,000 in 2022, much more than 500%. This shocking surge is a testament to the increasing sophistication of cyberattacks and the significant vulnerabilities inherent in outdated security methods. The most significant factor contributing to this trend is a broad reliance on twenty-year-old, legacy Multi-Factor Authentic
Superusers Need Super Protection: How to Bridge Privileged Access Management and Identity Management

Superusers Need Super Protection: How to Bridge Privileged Access Management and Identity Management

Feb 28, 2024 Zero Trust / Cyber Threat
Traditional perimeter-based security has become costly and ineffective. As a result, communications security between people, systems, and networks is more important than blocking access with firewalls.  On top of that, most cybersecurity risks are caused by just a few superusers – typically one out of 200 users.  There's a company aiming to fix the gap between traditional PAM and IdM solutions and secure your one out of 200 users –  SSH Communications Security.   Your Privileged Access Management (PAM) and Identity Management (IdM) should work hand in hand to secure your users' access and identities – regular users and privileged users alike. But traditional solutions struggle to achieve that.  Microsoft Entra manages all identities and basic-level access. With increasing criticality of targets and data, the session duration decreases, and additional protection is necessary. That's where SSH Communications Security helps Let's look at what organizations need to understand about
How to Increase Engagement with Your Cybersecurity Clients Through vCISO Reporting

How to Increase Engagement with Your Cybersecurity Clients Through vCISO Reporting

Jul 22, 2024vCISO / Business Security
As a vCISO, you are responsible for your client's cybersecurity strategy and risk governance. This incorporates multiple disciplines, from research to execution to reporting. Recently, we published a comprehensive playbook for vCISOs, "Your First 100 Days as a vCISO – 5 Steps to Success" , which covers all the phases entailed in launching a successful vCISO engagement, along with recommended actions to take, and step-by-step examples.  Following the success of the playbook and the requests that have come in from the MSP/MSSP community, we decided to drill down into specific parts of vCISO reporting and provide more color and examples. In this article, we focus on how to create compelling narratives within a report, which has a significant impact on the overall MSP/MSSP value proposition.  This article brings the highlights of a recent guided workshop we held, covering what makes a successful report and how it can be used to enhance engagement with your cyber security clients.
Chameleon Android Banking Trojan Variant Bypasses Biometric Authentication

Chameleon Android Banking Trojan Variant Bypasses Biometric Authentication

Dec 21, 2023 Mobile Security / Banking Trojan
Cybersecurity researchers have discovered an updated version of an Android banking malware called Chameleon that has expanded its targeting to include users in the U.K. and Italy. "Representing a restructured and enhanced iteration of its predecessor, this evolved Chameleon variant excels in executing Device Takeover (DTO) using the accessibility service, all while expanding its targeted region," Dutch mobile security firm ThreatFabric  said  in a report shared with The Hacker News. Chameleon was  previously documented  by Cyble in April 2023, noting that it had been used to single out users in Australia and Poland since at least January. Like other banking malware, it's known to abuse its permissions to Android's accessibility service to harvest sensitive data and conduct overlay attacks. The rogue apps containing the earlier version were hosted on phishing pages and found to impersonate genuine institutions in the countries, such as the Australian Taxation Offic
cyber security

Free OAuth Investigation Checklist - How to Uncover Risky or Malicious Grants

websiteNudge SecuritySaaS Security / Supply Chain
OAuth grants provide yet another way for attackers to compromise identities. Download our free checklist to learn what to look for and where when reviewing OAuth grants for potential risks.
TikTok Quietly Updated Its Privacy Policy to Collect Users' Biometric Data

TikTok Quietly Updated Its Privacy Policy to Collect Users' Biometric Data

Jun 05, 2021
Popular short-form video-sharing service TikTok quietly revised its privacy policy in the U.S., allowing it to automatically collect biometric information such as faceprints and voiceprints from the content its users post on the platform. The policy change, first spotted by TechCrunch , went into effect on June 2. TikTok users who reside in the European Economic Area (EEA), the U.K., Switzerland, and other geographies (excluding India) where the service operates are exempted from the changes. "We may collect biometric identifiers and biometric information as defined under U.S. laws, such as faceprints and voiceprints, from your User Content. Where required by law, we will seek any required permissions from you prior to any such collection," the ByteDance-owned company  said  in a newly introduced section called "Image and Audio Information." On top of this, the company's privacy policy also notes that it may collect information about "the nature of the
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