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Ransomware continues to be a high-priority cyber threat this year – maybe even more than in previous years as cybercriminals find new ways to exploit vulnerabilities. The COVID-19 pandemic made 2020 a boom year for ransomware attacks, mostly in terms of increased volume. According to CrowdStrike’s 2020 Global Security Attitude Survey conducted in August and September, 27% of ransomware victims paid out over the previous 12 months, averaging $1.1 million per ransom demand. Two new trends appeared in 2020 that are of particular concern for cyber experts and employers alike:
SolarWinds Orion breach impacts thousands of government and private networks, and the FBI warns of "vishing" attacks targeting corporate accounts. Plus, stolen corporate credentials, DNS cache poisoning, and new malware are also featured in this month's report.
A hard market has new meaning in the COVID-19 era, in addition to increased underwriting scrutiny and the risks that budget cuts could create. The pandemic has dramatically altered the landscape of the insurance market. Underwriters of directors and officers (D&O) and employment practices liability insurance (EPL) are concerned about the uncertainty of the extent of COVID-19 related litigation and the additional risks faced by organizations from the economic downturn, complying with health safety protocols and supply chain disruptions.
E-mail marketing and communications to customers is vital for most employers, so it's critical to keep hackers from infiltrating your e-mail tool. This month, email service provider Sendgrid says it is working on a plan to require multi-factor authentication for all of its customers, but that solution may not come fast enough for organizations having trouble dealing with the company's phishing and malware fallout. Business interruption also is a possibility after many cyber attacks, and we highlight an attack that lead to the shutdown of operations in two countries.
Bank of America announces a data breach related to Paycheck Protection Program loan applications, fraudulent claims plague state unemployment systems, a new phishing campaign appears to by-pass multifactor authentication protections, plus other cyber risks in this month's Threat Intelligence.
Read about today's most urgent cyber security risks in the Threat Intelligence highlights from April, which discusses how hackers are targeting Zoom video chat software, a second major data breach for hotel giant Marriott, SilverTerrier BEC scammers targeting multiple U.S. industries, and more.
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