As government-sponsored and widespread vulnerability attacks continue to result in larger damages, cyber insurers are looking for opportunities to still meet demand without incurring risk. It may come as a surprise, but cyber insurers aren’t in the business of issuing (and covering) cyber insurance policies; they’re in the business of staying in business. And that means identifying and reducing the highest sources of risk where the insurer will lose through paying on claims.

New data puts the spotlight on the human factor in U.K. cyber attacks, where users continue to be susceptible to social engineering, creating the so-called “Human Risk.” Here at KnowBe4, we’re obviously big believers in the fact that users are a source of risk when it comes to organizational security. Cybersecurity vendor SoSafe’s Human Risk Review 2023 report provides some independent perspective on this very problem. According to the report, one out of two U.K.

The Wall Street Journal today revealed that North Korea's hacker army managed to steal a huge amount of cryptocurrency amounting to $3 billion to finance their nuclear program. US officials have confirmed this news. These hackers have a highly sophisticated method of operating. A specific example of their actions involved using a fake job offer to trick a startup into losing over $600 million. By posing as potential employers, they social engineered someone who was hopeful for a better job.

A Denial of Service (DoS) attack will prevent your legitimate users from accessing your API. The attack could be physical, such as unplugging network cables, but a Distributed DoS is more prominent. It involves generating a volume of user requests from various machines to overwhelm your servers. DDoS attacks can result in a loss of $50,000 of revenue due to downtime and mitigation.

Artificial intelligence (AI) is transforming modern society at unprecedented speed. It can do your homework, help you make better investment decisions, turn your selfie into a Renaissance painting or write code on your behalf. While ChatGPT and other generative AI tools can be powerful forces for good, they’ve also unleashed a tsunami of attacker innovation and concerns are mounting quickly.

Contrary to stereotype, today’s cyberattacks aren’t limited to complex tactics such as the use of zero-day exploits or polymorphic malware that flies under the radar of traditional defenses. Instead of going the extra mile to set such schemes in motion, most threat actors take a shortcut and piggyback the human factor.