ransomware News

Beazley: Ransomware Attacks Increasingly Paired With Data Breach

Ransomware attacks became both more frequent and more brutal in 2019, according to a new report by speciality insurer Beazley. Beazley said its Breach Response Services unit saw a 131 percent increase in ransomware incidents last year. What’s more, a …

New Mexico Agencies on Edge Amid Rising Ransomware Attacks

ALBUQUERQUE, N.M. — New Mexico school districts, universities, and government agencies have collectively spent millions of dollars to regain control of their computer systems after employees unknowingly opened emails containing an encrypted code that effectively shut them out of their …

Ransomware Attack on Hospital Shows New Risk for Muni-Bond Issuers

Hackers have finally done what bond issuers may have feared most from cyber criminals. A ransomware attack on Pleasant Valley Hospital in West Virginia was partly responsible for the hospital’s breach of its covenant agreement, according to a notice to …

Travelex Says UK Money Transfer and Wire Services Back Online After Hack

Travelex’s UK international money transfer service and wire offering is fully operational again, it said on Tuesday, almost a month after a crippling ransomware attack forced staff to use pen and paper to calculate foreign currency exchanges. The cyber attack …

‘Snake’ Ransomware Linked to Iran, Targets Industrial Controls

An Israeli cybersecurity firm has identified a new type of ransomware that it believes was created by Iran and has the ability to lock up or even delete industrial control systems. Tel Aviv-based Otorio, a cybersecurity firm which specializes in …

Judge Finds Ransomware Damage to Computer a ‘Direct Physical Loss’

State Auto Property and Casualty Insurance Co. is liable for the cost of replacing a computer server that was damaged and perhaps permanently compromised by a ransomware attack despite the carrier’s argument that the business owner did not suffer a …

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 …