KnowBe4 - Cyber Insurance: Is Paying a Ransom Counter-Productive?

Cyber Insurance: Is Paying a Ransom Counter-Productive?

Food for thought as discussed on May 18, 2023, an article posted in The Australian Insurance Council: Banning paying a ransom to cyber hackers is counter-productive where Andrew Hall, the Chief Executive of the Insurance Council of Australia (ICA), stated that “attempts to ban businesses from paying ransoms for cyber attacks risks eroding trust and relationships with government.”



from KnowBe4 Security Awareness Training Blog https://blog.knowbe4.com/cyber-insurance-paying-a-ransom-counter-productive

Comments

Post a Comment

Popular posts from this blog

KnowBe4 - Scam Of The Week: "When Users Add Their Names to a Wall of Shame"

Image
Eric Howes , KnowBe4 Principal Lab Researcher, found out about another insidious bad guy trick: " If you work in IT there has undoubtedly come a dark moment when you wondered to yourself just who among your employee users would be gullible enough to click through a phishing email and potentially bring down your organization. from KnowBe4 Security Awareness Training Blog https://blog.knowbe4.com/when-users-add-their-names-to-a-wall-of-shame
Read more

Krebs - NY Charges First American Financial for Massive Data Leak

Image
In May 2019, KrebsOnSecurity broke the news that the website of mortgage title insurance giant First American Financial Corp. had exposed approximately 885 million records related to mortgage deals going back to 2003. On Wednesday, regulators in New York announced that First American was the target of their first ever cybersecurity enforcement action in connection with the incident, charges that could bring steep financial penalties. First American Financial Corp. Santa Ana, Calif.-based  First American [ NYSE:FAF ] is a leading provider of title insurance and settlement services to the real estate and mortgage industries. It employs some 18,000 people and brought in $6.2 billion in 2019 . As first reported here last year , First American’s website exposed 16 years worth of digitized mortgage title insurance records — including bank account numbers and statements, mortgage and tax records, Social Security numbers, wire transaction receipts, and drivers license images. The docum
Read more

SBS CyberSecurity - In The Wild 166

Image
  In The Wild - CyberSecurity Newsletter Welcome to the 166 th issue of In The Wild, SBS’ weekly CyberSecurity newsletter. The objective of this newsletter is to share threat intelligence, news articles that are relevant, new and updated guidance, and other information to help you make better cybersecurity decisions. Follow SBS CyberSecurity on Social Media for more articles, stories, news, and resources!           Below, you will find some of the latest-and-greatest news stories, articles, videos, and links from the past week in cybersecurity. Some of the following stories have been shared by consultants, others by the SBS Institute, and others yet simply been found in the far corners of the Internet. We hope you find the following stories relevant, interesting, and – most of all – useful. Enjoy. CyberRiskNOW Virtual Conference SBS Educational Resources This virtual conference is designed to provide interactive training on evo
Read more