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Change Healthcare Ransomware Attack May Cost Nearly $2.5 Billion

Jul 18, 2024 By Stu Sjouwerman In KnowBe4
The ransomware attack against UnitedHealth Group’s Change Healthcare platform is expected to cost the company up to $2.45 billion, more than a billion dollars more than was previously estimated, Cybersecurity Dive reports. The incident has already cost the firm nearly $2 billion.
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New Ransomware Threat Group Calls Attack Victims to Ensure Payments

Jul 17, 2024 By Stu Sjouwerman In KnowBe4
Analysis of new ransomware group Volcano Demon provides a detailed look into how and why calling victims ups the chances of ransomware payment. Security researchers at Halcyon have uncovered a new ransomware threat group that initially follows traditional methods – harvesting admin credentials, data exfiltrated to a C2 server, logs cleared and data was encrypted using LukaLocker. However, Volcano Demon attacks take a different direction in the extortion phase.
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Reveal Your Network's Hidden Weaknesses with KnowBe4's BreachSim Data Exfiltration Simulator

Jul 17, 2024 By KnowBe4 In KnowBe4
As cyber threats evolve, the target has become crystal clear: your data. A staggering 90% of ransomware attacks now include a data exfiltration component. With this in mind, KnowBe4 has introduced a robust free tool, BreachSim, to identify your network's vulnerabilities and shore up your cyber defenses. Financial losses, reputation damage, intellectual property theft, regulatory repercussions and operational disruptions are just a few of the harsh consequences of data exfiltration assaults. KnowBe4 BreachSim can help you nip these risks in the bud.
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SEC Fines Publicly Traded Company $2.125 Million For Negligence Before, During, and After a Ransomware Attack

Jul 16, 2024 By Stu Sjouwerman In KnowBe4
According to the filing, the organization in question failed to devise controls to adequately detect, respond to, and disclose an attack that included data exfiltration and service disruption. Back in 2021, R.R. Donnelley & Sons Co.
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Espionage-Intent Threat Groups Are Now Using Ransomware as a Diversion Tactic in Cyberattacks

Jul 16, 2024 By Stu Sjouwerman In KnowBe4
A new report focused on cyber espionage actors targeting government and critical infrastructure sectors highlights the strategic use of ransomware for distraction or misattribution. It was inevitable: a threat group using a secondary attack type to cover their tracks – whether those “tracks” are the groups true intent, who’s responsible – or to simply make some additional money after they’re done with the initial attack.
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From Reactive to Proactive: Cyber Insurance is Driving Optimal Security Investments for Organizations

Jul 15, 2024 By Stu Sjouwerman In KnowBe4
New data shows that only 3 percent of organizations are solely relying on their current cyber defenses when adding on cyber insurance, indicating that organizations are beginning to understand the true value and place of a cyber insurance policy. For the last few years, it felt like organizations were seeing cyber insurance like they do their car insurance; have an “accident” and let the policy cover it.
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Ransomware Attacks on Healthcare Is Costing Lives

Jul 11, 2024 By Roger Grimes In KnowBe4
Ransomware is more prolific and expensive than ever. Depending on the source you read, the average or median ransomware payment was at least several hundred thousand dollars to well over several million in 2023. Marsh, a leader in cybersecurity insurance, wrote that its customers paid an average of $6.5 million in ransom in 2023 (after just paying an average of $1.4 million in 2023).
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