Ransomware Archives

News Alerts and Breach Report for Week of November 28, 2022

November 30, 2022
Editorial Team
Cybersecurity, GDPR, India, Meta (Facebook), Ransomware, Social Media, Weekly Update
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Meta Fined for GDPR Violation Meta, the parent company of Facebook, has incurred another fine for its mishandling of personal information. The most recent $275 million fine, levied by the Irish Data Protection Authority, brings Meta’s total GDPR fines in…

Should You Pay Ransom?

July 26, 2022
Editorial Team
Florida, New York, North Carolina, Pennsylvania, Ransomware, Uncategorized, United Kingdom, US Regulatory
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Ransomware attacks can be devastating and tend to leave an organization with very few options, including restoring data from the last organizational backup, if that exists; rebuilding the organization’s entire network; or pay the ransom the threat actor demands. However,…

News Alerts and Breach Report for June 6, 2022

June 7, 2022
Editorial Team
Artificial Intelligence, CISA, Cyberattacks, Cybersecurity, Data Breach, Data Protection, India, NIST, Ransomware, VPNs, Weekly Update
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CISA Adds 21 Vulnerabilities to Catalog Last week, The Cybersecurity and Infrastructure Agency (CISA) alerted federal agencies to 75 new additions to its new Known Exploited Vulnerabilities Catalog. Affected software includes products from Cisco, Microsoft, Adobe and Oracle. A significant…

News Alerts for April 12, 2022

April 12, 2022
Editorial Team
CIO, Colorado, Cryptocurrency, Cyberattacks, Cybersecurity, Ransomware, Russia, US Regulatory
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State Department Establishes Cybersecurity Bureau The U.S. Department of State on April 4 launched a new Bureau of Cybersecurity and Digital Policy (CDP). The bureau will focus on national security challenges and economic opportunities related to cybersecurity and digital rights.…

Why Developing Cyber Resilience Requires Emotional Intelligence

December 20, 2021
Nadja El Fertasi
Breach response, Business, C-Suite, Cybercrime, Emotional Intelligence, Incident Response, Ransomware, Supply Chains

Liability cases are rising as the top leaders of corporations are being held personally accountable for data breaches. The Bank of Ireland, for example, was recently fined a record €24.5m and publicly reprimanded by the Central Bank of Ireland for IT failures dating back to 2008. The visible cost of malicious cybercrime attacks is estimated…

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Ransomware Attacks Continue to Cause More Underwriter Scrutiny

Continued widespread cyber attacks have leaders in just about every industry wary and watchful, and insurance underwriters are no exception. Given the increase in claims from recent ransomware attacks, cyber insurers are requiring even more information as part of their underwriting processes. Applications for cyber insurance are already lengthy and require detailed information around specific…

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Cyber Ransoms: To Pay or Not to Pay?

November 5, 2021
Editorial Team
Cybercrime, Cybersecurity, OFAC, Penalties and Enforcement, Ransomware, Sanctions

Ransomware attacks are an increasingly prevalent form of cyber threat. COVID-19 has contributed to the increase in ransomware attacks, as remote workforces are increasingly dependent on email and therefore susceptible to phishing attacks. In a typical ransomware attack, the hacker encrypts key files and systems at the target organization to cripple its operations and demands…

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Senate Introduces Ransomware Notification Mandate

October 9, 2021
Tim Crino
Breach response, Cybersecurity, Legislation, Ransomware, Senate

The US Senate has introduced a bill that would require businesses with more than 50 employees to report ransomware payments within 24 hours. (S. 2666), the “Sanction and Stop Ransomware Act of 2021,” was introduced by the Senate Homeland Security Committee and Governmental Affairs Committee and also would apply to nonprofits, state and local government…

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New Ransomware Guidance Issued

September 25, 2021
Michael Reinhardt
Breach response, Cybercrime, Cybersecurity, Federal Agencies, OFAC, Penalties and Enforcement, Ransomware, US Regulatory

On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued new ransomware guidance, discouraging companies and citizens from paying ransoms. The Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments is the latest step taken by the Biden Administration to curb the increase in ransomware attacks. In…

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The Impact of Data Security Incident Trends on Commercial Transactions

September 17, 2021
Editorial Team
Breach Notification, Breach prevention, Breach response, Compliance, Consumer Privacy, Cybersecurity, Data Protection, Data Security, Privacy, Ransomware, US Regulatory

The 2021 edition of BakerHostetler’s annual Data Security Incident Response Report – a report based on the firm’s experience with data security incident response and litigation over the past year – features a number of important insights previously covered on this blog including trends in global breach notification, healthcare industry risks and ransomware. The Report…

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