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CNBC: U.S. banks and financial institutions processed roughly $1.2 billion in likely ransomware payments in 2021, a new record and almost triple the amount of the previous year, according to a federal financial crimes watchdog.
Business Wire: LastPass today released findings from its fifth annual Psychology of Password findings, which revealed even with cybersecurity education on the rise, password hygiene has not improved. Regardless of generational differences across Boomers, Millennials and Gen Z, the research shows a false sense of password security given current behaviors across the board.
Malay Mail: The US Treasury last month repelled cyber attacks by a pro-Russian hacker group, but the incident caused little to no disruption and confirmed that the department’s stronger approach to financial system cybersecurity was working, a US Treasury official said.
The Target: Thomson Reuters, a multi-national media conglomerate.
The Take: Exposure of sensitive company login credentials, including plain-text passwords to some third-party vendors, corporate and legal information, and logs which contain the email addresses of account holders who recently reset their passwords.
The Vector: A misconfigured Elasticsearch server was accessible over the internet to anyone with a connection.
This breach is critical reminder that authentication controls are an important piece in an overall robust cybersecurity posture, especially maintaining correct access configurations. The data exposed here can also lead to pivot attacks and targeted phishing. Multi-factor authentication, reasonably regular forced password resets, and password length and complexity rules are all effective strategies to mitigate these kinds of breaches to protect a firm’s data.
Techcrunch: Networking and cybersecurity firm Versa announced that it raised $120 million in a mix of equity and debt led by BlackRock, with participation from Silicon Valley Bank. CEO Kelly Ahuja tells TechCrunch that the proceeds, which bring Versa’s total capital raised to $316 million, will be put toward go-to-market efforts and scaling the company. He demurred when asked what percentage of the financing was equity versus debt.
Financier Worldwide: Amid ongoing economic and geopolitical challenges, the cyber security sector remains strong, according to a new report from ICON Corporate Finance.
ZDNet: A global study of 1,100 cybersecurity professionals by Mimecast found that one-third are considering leaving their role in the next two years due to stress and burnout.
Global Newswire: AI-powered systems can be set up to automatically respond to dangers and combat online threats more quickly. Analyzing and improving cyber risks as well as cyber-attacks is no more a task on a human scale as the business attack surface develops and changes. To accurately quantify risk, up to highly-varying signals must be handled, based on the scale of the organization.
S&P Global: Global cybersecurity transaction volume dropped to 33 deals between July 1 and Sept. 30, compared to 45 deals in the second quarter and 58 in the third quarter of 2021, according to data from 451 Research.
World Economic Forum: New United States Securities and Exchange Commission (SEC) rulemaking makes cyber risk reporting and business resilience planning a key component of effective board governance.
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