Cyber Security Business Blog

Ronald Burgess
Lt. Gen. (ret) Ronald Lee Burgess, Jr., who served as the 17th Director of the Defense Intelligence Agency, was one of the keynote speakers at Cyber Security Summit 2016 in Minneapolis. As head of the Agency and a former Acting Principal Deputy Director of National Intelligence, Burgess served as a key player in the national security arena, called upon by the President, the Secretary of Defense, the Director of National Intelligence, the Chairman of the Joint Chiefs of Staff, and Congressional leaders for his opinions, advice and expertise. He is currently Senior Counsel for National Security Programs, Cyber Programs and ...
Read More
Spaulding
“Minnesota is adding tech jobs at the greatest rate of anywhere in the country,” declared Suzanne Spaulding, Under Secretary for the National Protection and Programs Directorate (NPPD) at the Department of Homeland Security, a keynote speaker at Cyber Security Summit 2016 in Minneapolis. The flip side of that coin with regard to cyber security, she noted, is that “vibrancy makes us an attractive target.” During her speech, Ms. Spaulding recited a litany of bad actors driven to wreak havoc: nation-states, cyber criminals, terrorists and political groups each are spurred on by their own motives. Russia, China, Iran and North Korea are among ...
Read More
ID-10028974
In July, Verizon announced that it would acquire Yahoo’s Internet business for $4.8 billion. In September, Yahoo disclosed that a massive data breach had compromised 500 million user accounts.  The breach happened nearly two years ago, in late 2014.  Now, Verizon has stated publicly that it believes the breach has had a material impact on Yahoo.  Some have reported that the purchase price could be slashed by $1 billion.  Whatever the number turns out to be, the lesson is that cyber security impacts valuation. Cyber due diligence can help an acquiring company better understand the value of an acquisition target and ...
Read More
economics-digital-identity
Amid mushrooming IoT device sales and attendant channel transaction growth, findings from a recent study raise serious concerns about just how effectively online businesses are able to safeguard their stakeholders’ digital identities. A White Paper titled "The Economics of Digital Identity" was published by The Economist and authored by a team of experts at the Economist Intelligence Unit. In it, they reviewed findings of a 2015 study that surveyed 201 senior executives in North America. Industries represented in the study were manufacturing, finance, IT and technology. Executive-respondents came from sample split between companies with annual revenues under $1 billion, and those with ...
Read More
computer-1446109_960_720
Once they have breached a system, most hackers no longer need malware, according to a new study by LightCyber, a provider of Behavioral Attack Detection solutions. According to the company's Cyber Weapons Report 2016, 99 percent of post-intrusion cyberattack activities used standard networking, IT administration and other tools. "While malware was commonly used to initially compromise a host, once inside a network malicious actors did not typically utilize malware," the company said in a statement. "As an example, Angry IP Scanner, an IP address and port scanner, was the most common tool associated with attack behavior, followed closely by Nmap, ...
Read More
15084277336_faf0da1167_o
According to the CEO of Stealthcare, a Cleveland-based cyber security firm, the next major cyber security attack will likely be tied to the GOP Convention, although he believes it won’t come from hacktivitsts upset with Donald Trump but rather from a state-sponsored group. Jeremy Samide, CEO of Stealthcare, points to the recent attack on the Democratic National Committee that was apparently committed by a state-sponsored group. "It makes sense for these hackers to hit the Republican National Committee right before or during its showcase event," said Samide in a statement. "The ability of a hacktivist group to disrupt the Trump ...
Read More
ID-100408168-1
While cyber insurance policies are popular, and can be an effective risk-mitigation tool, we have advised clients to be cautious, to evaluate policy language carefully, and to anticipate coverage disputes. Recent cases bear this out: it is critically important that the language in the policy cover, without exclusion, the key losses anticipated by the insured. Where there is grey area, it may be in the best interest of the insurer to deny coverage, and coverage disputes can go either way. Here are some recent examples: Just this month, an insured (Aqua Star) lost a coverage dispute over a loss that ...
Read More
Based on the prevalence of the scam, some security experts have called 2016 “the year of ransomware,” yet a new survey shows most businesses don’t budget extra funds to regain access after a ransomeware attack. The survey, conducted by data security firm IDT911, found that 65 percent of respondents currently do not, nor plan to, budget extra funds to regain access and 52 percent do not have cyber insurance. Despite a lack of resources dedicated to mitigating these attacks, 30 percent of business owners said they couldn’t go without access to critical business systems for any period of time. The ...
Read More
Is your company exposed to significant cyber risk? If not, you're in the minority, according to a new report from RSA. For the second year in a row, RSA, The Security Division of EMC, found that 75 percent of 878 survey respondents across 81 countries have significant cybersecurity risk exposure. There was, however, at least one significant positive change from the 2015 survey to 2016 edition: a dramatic increase in the number of organizations that have mature cyber security programs. According to RSA, the percentage of organizations reporting advantaged capabilities – the highest category – increased by more than half ...
Read More
Based on news reports, ransomware attacks appear to be growing in popularity, and a new study seems to confirm that they have become the scam of choice among hackers. In the first quarter of 2016, 93 percent of phishing emails contained ransomware, according to a recent report from PhishMe, a phishing-defense solutions provider. The company says its analysis of phishing email campaigns from the first three months of 2016 shows a 6.3 million increase in raw numbers, due primarily to a ransomware upsurge against the last quarter of 2015. Ransomware scams prevent a user on an electronic device from accessing ...
Read More