ransomware News

Ransomware Claims Driving Up Cyber Insurance Costs

U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, industry sources said. The changes follow a challenging year of hackers using malicious programs, …

Viewpoint: Attack on Travelex Has Alarming Implications

As ransomware attacks go, the cyber intrusion at Travelex that emerged on New Year’s Eve could have lasting consequences — and ones that shouldn’t be just a worry to the currency dealer. Travelex, known mostly for its airport shops and …

Travelex Restoring Some Electronic Services After Cyber Attack

Travelex is restoring operations to process foreign exchange orders electronically, it said on Monday, almost two weeks aftercyber hackers took hold of its systems, leading to a global blackout of its online services. Staff at Travelex were forced to use …

Travelex Staff Go Back to Basics as Ransomware Cripples Systems

LONDON — Staff at foreign exchange firm Travelex are using pen and paper to serve thousands of customers after the company said cyber hackers were holding its systems to ransom, leading to a global blackout on its online currency exchange …

Merck Cyberattack’s $1.3 Billion Question: Was It an Act of War?

By the time Deb Dellapena arrived for work at Merck & Co.’s 90-acre campus north of Philadelphia, there was a handwritten sign on the door: The computers are down. It was worse than it seemed. Some employees who were already …

Ohio Gears Up Cyber Soldiers for Virtual Defense Tactics in 2020

Cyberattacks in Ohio have disrupted airport flight displays, led to the shutdown of a help line during a winter storm and cut off access to police investigation reports temporarily. The Buckeye State is fighting back. Its first volunteer cyber reservists …

Ransomware Attack At Mexico’s Pemex Halts Work, Threatens To Cripple Computers

MEXICO CITY — A ransomware attack hit computer servers and halted administrative work on Monday at Mexican state oil firm Pemex, according to employees and internal emails, in hackers’ latest bid to wring ransom from a major company. Hackers have …

Georgia County’s Experience Shows Perils of Ransomware

JEFFERSON, Ga. — On the first Saturday in March, computer screens at the 911 dispatch center in this small town went dark. Staff at the county jail around the same time could no longer open cell doors remotely with electronic …

Viewpoint: Scrutiny Undermines Argument that Cyber Insurance Encourages Ransomware

As the cyber insurance market continues to grow, it’s only natural to discuss its place in the battle against cyber-attacks, including ransomware, which has been a prevalent topic in recent months. Over the last several years, the cyber insurance market …

Survey Suggests Ransomware Broadening Perceptions of Cyber Risks

Corporate risk managers are increasingly focusing on protecting their enterprises from business interruption after a series of ransomware attacks on government agencies highlighted the peril of losing access to their computer networks, according to a survey released by Zurich Insurance …