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The rise in the costs of data breaches, ransomware, and other cyber attacks leads to rising cyber insurance premiums and more limited cyber insurance coverage. This cyber insurance situation increases risks for organizations struggling to find coverage or facing steep increases. Some  Akin Gump Strauss Hauer & Feld LLP's  law firm clients, for example, reported a three-fold increase in insurance rates, and carriers are making "a huge pullback" on coverage limits in the past two years. Their cybersecurity practice co-head, Michelle Reed, adds, "The reduced coverage amount can no longer shield policyholders from cyber losses. A $10 million policy can end up with a $150,000 limit on cyber frauds." The cyber-insurance situation is so concerning that the U.S. Treasury Department recently issued a  request for public input  on a potential federal cyber-insurance response program. This request is in addition to the assessment led conjointly by the Federal Insura

PandaLabs,  the antimalware laboratory of  Panda Security , the cloud security company, has forecasted several radical innovations in cyber-crime for 2011. Hacktivism and cyber-war; more profit-oriented malware; social media; social engineering and malicious codes with the ability to adapt to avoid detection will be the main threats in the coming year. There will also be an increase in the threats to Mac users, new efforts to attack 64-bit systems and zero-day exploits. Following is a summary of what PandaLabs predicts as the ten major security trends of 2011: 1. Malware creation:  In 2010, PandaLabs witnessed significant growth in the amount of malware and discovered at least 20 million new strains, more than in 2009. At present, Panda's Collective Intelligence database stores a total of more than 60 million classified threats. The actual rate of growth year-on-year however, appears to have peaked. Several years ago it was over 100 percent and in 2010 it was 50 percent. 2. Cyber w

Super Low RPO with Continuous Data Protection: Dial Back to Just Seconds Before an Attack Zerto , a Hewlett Packard Enterprise company, can help you detect and recover from ransomware in near real-time. This solution leverages continuous data protection (CDP) to ensure all workloads have the lowest recovery point objective (RPO) possible. The most valuable thing about CDP is that it does not use snapshots, agents, or any other periodic data protection methodology. Zerto has no impact on production workloads and can achieve RPOs in the region of 5-15 seconds across thousands of virtual machines simultaneously. For example, the environment in the image below has nearly 1,000 VMs being protected with an average RPO of just six seconds! Application-Centric Protection: Group Your VMs to Gain Application-Level Control   You can protect your VMs with the Zerto application-centric approach using Virtual Protection Groups (VPGs). This logical grouping of VMs ensures that your whole applica

The United Kingdom's National Crime Agency (NCA) has arrested 56 suspected hackers in a campaign against cybercrime called "strike week." Law-enforcement officials conducted, in total, 25 separate operations across England, Scotland and Wales, and those arrested were suspected in a wide range of cyber crimes including: Network intrusion and data theft from multinational companies and government agencies Distributed Denial of Service (DDoS) attacks Cyber-enabled fraud Malicious software and virus development The raids conducted by NCA were coordinated by its National Cyber Crime Unit (NCCU) , special officers Metropolitan Police and Regional Organised Crime Unit's (ROCUs) , associated with local forces around the UK. The arrested hackers also include alleged hackers suspected of being behind attacks on Yahoo, the US Department of Defence (DoD) , and PlayStation. The list of hackers arrested in the operation is given below: A 23-year-old man w

Bangladesh is not the only bank that had become victim to the cyber heist . In fact, it appears to be just a part of the widespread cyber attack on global banking and financial sector by hackers who target the backbone of the world financial system, SWIFT. Yes, the global banking messaging system that thousands of banks and companies around the world use to transfer Billions of dollars in transfers each day is under attack. A third case involving SWIFT has emerged in which cyber criminals have stolen about $12 million from an Ecuadorian bank that contained numerous similarities of later attacks against Bangladesh's central bank that lost $81 Million in the cyber heist . The attack on Banco del Austro (BDA) in Ecuador occurred in January 2015 and, revealed via a lawsuit filed by BDA against Wells Fargo, a San Francisco-based bank on Jan. 28, Reuters reported. Here's how cyber criminals target banks: Uses malware to circumvent local security systems of a bank. Gains acces

Are you a proud owner of a Smartwatch, a Smart TV , a Smart fridge, a Smart lock, an Internet-enabled car , or live in a smart city? Caution! Recently, it has been reported that the growth of the Internet of Things would eventually lead to cyber criminals in making lots of money, as they started attacking the Internet of Things for Ransom. Yes, the latest Interest of the cyber criminals in the field of Internet of Things is ' Ransomware '. Internet of Things (IoT) such as Android and iOS-based wearable Smartwatches and the concept of connected homes has now given a treat to the current generation Ransomware. With the advancements in Technology, cyber criminals are simultaneously promoting themselves from the threat known for restricting computers or encrypting files and asking users for money in return for gaining back access to their systems. From computers to mobile phones, now criminals are targeting the IoT and the wearables devices. Security resea

THE internet was never meant to do sensitive banking transactions, cyber criminals are winning the war against online security and Australia's easy going nature is making us vulnerable targets to ever-more sophisticated internet thugs. That was San Francisco-based internet security watcher and author Joseph Menn's assessment of the current state of the internet before he spoke to the Internet Industry Association's gala dinner in Sydney last night. The only glimmer of hope was that people were becoming more aware of the risks involved with the internet - which he described as a "loaded gun" - but we have to be even more savvy if we are not to be become a cyber crime victim. Mr Menn said when he interviewed the former head of the US Department of Justice's Cyber Crime Unit she said half of all credit cards were in the hands of criminals. "And if your credit card details weren't in criminals' hands it was only because they hadn't got around to

In New York on Sunday, lawmakers urged President Obama to expand the U.S. State Department's foreign policy mechanisms to address crime and security on the Internet. The recent attacks on companies that severed ties to WikiLeaks were cited as one of the main reasons these changes were needed. Standing at Symantec's New York City office, Senator Kirsten Gillibrand and Representative Yvette D. Clarke urged the President to adopt proposals that protect New York businesses and infrastructure. These proposals would put foreign countries that fail to enforce cyber security laws on notice, and even apply sanctioning to those that do not cooperate. For the past week, the lawmakers explained during a press event, MasterCard, Visa, PayPal, and other American companies were sabotaged by a string of coordinated attacks. The reason for said attacks is due to the fact that each company cut ties to WikiLeaks. They said the global cyber assault was "intended to flood the companies' web

Cyber criminals become hyper active during festivals. Diwali is no exception. Shantanu Ghosh, Vice-President and Managing Director (India Product Operations) of Internet security solutions company Symantec has observed that malware authors and spammers are using Diwali (The festival of lights that's celebrated across the world (primarily in the Indian sub-continent) as the latest event to lure unsuspecting users into downloading malware, buying products, and falling for scams. Shantanu said cyber criminals attempt to 'poison' web search engine results to take advantage of huge rush in search activity during popular events. " We have observed that cyber attackers are using various techniques to make the most of Diwali, " he warned. Cyber-attackers make use of social engineering tactics to lure users to purchase from or register on unknown websites. Users may be exposing personal information to Internet scammers. " Before giving into the temptation of clicking on a link in

Federal Bureau of Investigation (FBI) has been authorized by U.S Congress to hire 2,000 new employees this year, and many of those will be young hackers and Programmers in order to built-up its cyber crime division, but FBI's Director 'James B. Comey' is facing some difficulties. Apparently, FBI's Strict Anti-Drug Policy is making it very difficult for them to go after real criminals because most of the hackers have a fondness of smoking weeds, illicit drug. According to US agency policy, they won't hire anyone who used marijuana in the last three years, but it seems that now the law enforcement agency has to think about deviating from its own policy to get right talent to tackle cybercrimes over the Internet which has become a first priority for the agency. Recently, During an annual conference held at Manhattan's New York City Bar Association, One attendee asked James B. Comey that -- One of his friend who considered an FBI job but ultimately did not apply becaus

Botnets - a secretly compromised networks of ordinary home and office computers with rogue software or "malware" that are controlled by an individual criminal or a group - has dramatically increased over the past several years and are considered to pose the biggest threat to the Internet. Cyber criminals have brushed-up their hacking skills and are using Botnets as a cyber weapon to carry out multiple crimes like DDoS attacks (distributed denial of service), mass spamming, page rank and advertising revenue manipulation, mining bitcoins, cyber espionage and surveillance etc. 18 BOTNET INFECTIONS PER SECOND According to the director of FBI's cyber division, Joseph Demarest, Botnet has become one of the biggest enemies of the Internet today, and therefore its impact has been significant. Yesterday during a hearing before a U.S. Senate committee, he says that every second 18 computers worldwide are part of botnet armies, which amounts to over 500 million comp

Who else didn't see this coming? It was so obvious as I stressed earlier that the  Let's Encrypt free HTTPS certificates would not just help legitimate website operators to encrypt its users' traffic, but also help criminals to bother innocent users with malware through secure sites. Let's Encrypt allows anyone to obtain free SSL/TLS ( Secure Socket Layer/Transport Layer Security ) certificates for their web servers that encrypt all the Internet traffic passed between a server and users. Let's Encrypt is recognized by all major browsers, including Google's Chrome, Mozilla's Firefox and Microsoft's Internet Explorer. The organization started offering Free HTTPS certs to everyone from last month, and it is very easy for anyone to set up an HTTPS website in a few simple steps ( How to Install Free SSL Cert ). However, the most bothersome part is that Let's Encrypt free SSL certs are not only used by website owners to secure its

Change is a part of life, and nothing stays the same for too long, even with hacking groups, which are at their most dangerous when working in complete silence. The notorious REvil  ransomware  gang, linked to the infamous JBS and Kaseya, has resurfaced three months after the arrest of its members in Russia. The Russian domestic intelligence service, the FSB, had caught 14 people from the gang. In this apprehension, the 14 members of the gang were found in possession of 426 million roubles, $600,000, 500,000 euros, computer equipment, and 20 luxury cars were brought to justice. REvil Ransomware Gang- The Context The financially-motivated cybercriminal threat group Gold Southfield controlled ransomware group known as REvil emerged in 2019 and spread like wildfire after extorting $11 million from the meat-processor JBS. REvil would incentivize its affiliates to carry out cyberattacks for them by giving a percentage of the ransom pay-outs to those who help with infiltration activitie

Your Financial Credentials are on SALE on the Underground Black Market without your Knowledge… sounds like a nightmare, but it's TRUE. Cyber security firm, Hold Security, said it has traced over 360 million stolen account credentials that are available for Sale on Hacker's black market websites over past three weeks. The credentials include usernames, email addresses, and passwords that are in unencrypted in most cases, according to the report released on Tuesday. It is not known till now from where these credentials exactly were stolen, but the security researchers estimated that these credentials are a result of multiple breaches. Since the banking credentials are one of the most ' valuable bounties ' for the cyber criminals, and the ways to steal these credentials can be directly from the companies and from the services in which users entrust data as well. According to Hold Security, in addition to the sale of 360 million credentials, the cyber criminals are  s

We have discussed many times in our stories the network of Intelligent devices , their capabilities and the possibilities that cyber criminals could exploit them for illegal activities. Hidden chips are used by cyber criminals and state-sponsored hackers to infiltrate company networks and organizations for various purposes, to send out spam or for cyber espionage . The fact has happened in Russia, the State-owned channel Rossiya 24 has showed the images of an electric iron included in a batch of Chinese imports where the operators find a chip used for spying the environment surround. China is planting Microchips practically in every electrical device, as recently it has been discovered that the  electric iron  and kettles were modified with this technique to launch spam attacks. The Microchips were equipped with a little microphone and according to the correspondent the component were mostly being used to serve malware and the chips in fact are able to connect any co

The DDoS techniques have massively increased with the attackers becoming more skillful at working around the network security. A massive 300Gbps DDoS attack launched against Spamhaus website almost broke the Internet a year ago and also earlier this year, hackers have succeeded in reaching new heights of the massive DDoS attack targeting content-delivery and anti-DDoS protection firm CloudFlare, reaching more than 400Gbps at its peak of traffic. Akamai's Prolexic Security Engineering and Response Team (PLXsert) issued a threat advisory on Thursday reporting a significant surge in DDoS attacks last month abusing the Simple Network Management Protocol (SNMP) interface in network devices. Simple Network Management Protocol (SNMP) is a UDP-based protocol which is commonly known and often used to manage network devices. SNMP is typically used in devices such as printers, routers and firewalls that can be found in the home and enterprise environments as well. Just as D