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Bank Info Security 5 months, 1 week ago

Victims Are Rebuffing Ransomware Mass Data Theft Campaigns

Revenue From Supply-Chain Attacks by Clop Group Sharply Fell, Report InvestigatorsOnce lucrative steal-and-leak campaigns pioneered by Russian ransomware group Clop look set to go the way of the dinosaurs. While an estimated 25% of victims paid a ransom in the inaugural campaign five years ago, the number of victims that paid fell to zero by 2023, report ransomware responders.

City Refuses to Pay Ransom; Employees Report to Arena to Reset Passwords in PersonThe Minnesota city of St. Paul continues to respond to a ransomware attack, with the mayor saying it will pay no ransom. Instead, it's restoring systems from backups and verifying employees' identity at a centralized location before resetting their passwords.

Horizon Healthcare RCM Hints at Paying Ransom in Data Theft IncidentHorizon Healthcare RCM is the latest revenue cycle management software vendor to report a health data breach involving ransomware and data theft. The firm's breach notification statement suggests that the company paid a ransom to prevent the disclosure of its stolen information.

Ransom Threats to Be Reported Under New Australian LegislationAustralian organizations have 40 days to prepare for a new law requiring mandatory reporting of ransomware payments to authorities. The law covers about 6.5% of registered businesses which, starting May 30, must report ransomware payments within 72 hours to the Australian Signals Directorate.

Counter Ransomware Group Focuses on Timely Reporting, Avoiding Paying the RansomNew voluntary ransomware guidance released during the International Counter Ransomware Initiative meeting this week calls for victims to report attacks to law enforcement on a more timely basis - and involve more advisors in deciding whether to pay a ransom.

The cybersecurity threat landscape has witnessed a dramatic and alarming rise in the average ransomware payment, an increase exceeding 500%. Sophos, a global leader in cybersecurity, revealed in its annual "State of Ransomware 2024" report that the average ransom payment has increased 500% in the last year with organizations that paid a ransom reporting an average payment of $2 million, up from

Bank Info Security 2 years, 5 months ago

Ransomware on Tap as Major Water Providers Fall Victim

US and UK Water Giants Report Network Breaches and Data Leaks, But No EncryptionTwo major water providers in the U.S. and U.K. report that they recently fell victim to ransomware attacks. In both cases, attackers appear to have stolen employee or customer data that they're now holding to ransom. Ransomware trackers say known attacks, affecting all sectors, have been surging.