The stark consequences of ransomware became painfully clear in Australia this week as attackers began releasing data from health insurer Medibank, one of the country's largest health insurers. Also, leaked chat logs reveal how the attackers accessed Medibank's systems.
This edition of the ISMG Security Report discusses how Australian health insurer Medibank is facing stark consequences for not paying a ransom to a group of cyber extortionists, how to limit unnecessary cybersecurity exposure during M&A, and how to manage challenges in hybrid environments.
When it comes to advanced threat response, most financial institutions say their current abilities are average. Only one-third say automation is crucial to how they identify and respond to threats. This panel of APAC and ANZ experts analyzes the state of security automation in financial services.
Who is attempting to extort Australian health insurer Medibank? Why did Medibank tell its attackers it wouldn't pay a ransom? Will this deter future cyber extortionists? Here are a few thoughts on the high cybercrime drama playing out.
With massive digitization and cloud adoption, the attack surface has broadened and new threats have emerged. Challenges like ransomware, supply chain attacks and financial fraud continue to pose problems for security practitioners.
A startup that was reportedly almost acquired by Palo Alto Networks for $600 million has instead raised $100 million to forge ahead on its own. App security vendor Apiiro plans to use the proceeds to strengthen its ability to analyze code and developer activities across the software supply chain.
The latest edition of the ISMG Security Report discusses how Australian health insurer Medibank is deliberating on whether to pay a ransom to extortionists, analyzes the growing number of layoffs in the security vendor space, and shares a tribute to threat intelligence researcher Vitali Kremez.
Tributes are being paid to Vitali Kremez, who has died at the age of 34 in a suspected scuba-diving accident. The renowned threat intelligence expert, born in Belarus, had long tracked Russian cybercrime syndicates and was part of an ad hoc group established to counter ransomware and help victims.
Should Australia's Medibank health insurer pay extortionists to prevent the release of sensitive medical documents related to millions of Australians? There's no easy answer to remedying what is the most severe cybercriminal incident in Australian history.
Organizations expect the IT security landscape to be consistent - from builds and hardware to operating systems - but for product security, everything Honeywell makes is a snowflake with flexible, highly tailored design across many technologies, says Honeywell Product Security Chief James DeLuccia.
Software as a service - it's the new shadow IT, says Phyllis Woodruff of Global Payments. And it highlights the new challenges arising for security leaders overseeing their organizations' cloud migrations. She discusses how to make cloud "bulletproof" for business teams.
Many ransomware-wielding attackers - including big-name groups - have been collectively shooting themselves in the foot by resorting to "amateur" tactics, including decryptors that fail to decrypt as well as gangs re-extorting the same victims. Cue fewer victims opting to pay a ransom.
A surging Microsoft has leapfrogged to the top of the SIEM Gartner Magic Quadrant, catapulting past security operations stalwarts IBM, Splunk, Securonix and Exabeam. Microsoft has climbed from being named a visionary by Gartner last year to crushing the SIEM market in execution ability this year.
Elon Musk lugged a sink into Twitter headquarters to announce his takeover of the social network. But it will take more than a porcelain prop for the richest person in the world to successfully surmount the cybersecurity, legal, disinformation, regulatory and other challenges facing Twitter.
Since Zelle fraud has increased 109% in the United States, the banking industry is struggling to reduce authorized push payment scams. Ken Palla, former director at Union Bank, shares tips for combating fraudsters, including delays on large transactions, education and behavioral analytics.
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