The Resounding Boom of Cybersecurity: Understanding Its Ever-Expanding Industry

In today’s digital landscape, cybersecurity has emerged as not just a necessity but a thriving industry. With cyber threats becoming more sophisticated and pervasive, the demand for robust security measures has skyrocketed, propelling cybersecurity into a realm of unprecedented growth and innovation. 1. Escalating Cyber Threats: The proliferation of technology in every aspect of modern life has created a vast attack surface for cybercriminals to exploit. From large corporations to small businesses, government agencies to individuals, no entity...

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LockBit Ransomware gang endorses Donald Trump as next US President

The LockBit Ransomware gang, previously subdued by law enforcement agencies worldwide, has resurfaced with its trademark double extortion tactics, targeting businesses with file-encrypting malware attacks. Interestingly, the group’s leader, ‘LockbitSupp,’ has publicly endorsed Donald Trump as the next US President, citing his perceived ability to address potential challenges at the Mexico border, which the group views as critical. This endorsement comes amidst uncertainties regarding the Biden administration’s handling of border security. Following...

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Data security concerns with Chinese cars and Ban on mass data being imported to China

Data security concerns with Chinese and other nation cars The security of data in cars from China and other nations has become a focal point of concern, prompting action from the United States government. President Joe Biden has signed an executive order empowering federal agencies to investigate potential data risks associated with Chinese and other foreign-made vehicles, particularly those equipped with self-driving or autonomous capabilities. Despite their allure of affordability and advanced features, vehicles from nations like China, exemplified...

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Ransomware infection reach extends to Data Backups

For years, IT experts have emphasized the importance of maintaining backups for data and applications, highlighting their crucial role in swiftly recovering from cyber-attacks. Indeed, having such backup systems in place can preserve data continuity during unexpected incidents, thereby minimizing downtime. However, recent discussions on platforms like Reddit have challenged the notion that all backup solutions are impervious to malware attacks, particularly ransomware. While some companies tout their products as immune to such threats, security...

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New Ransomware gang steals about 200GB of data from Game Developer

A newly emerging ransomware group named Mogilevich has purportedly breached the servers of Epic Games, an American game developer, making off with approximately 200GB of data. Reports indicate that the cybercriminal outfit has set a deadline of March 4th for the victim to meet their ransom demands. Failure to comply will result in Mogilevich threatening to publicly disclose the pilfered 189GB of data, which includes sensitive information such as emails, passwords, full names, payment details, and source code related to the company’s products, on...

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Russia develops an AI Cyber Threat Tool to put a jolt in US democracy

Amidst growing concerns over cyber warfare, reports have surfaced regarding Russia’s advancements in artificial intelligence (AI) for spreading misinformation. Under the leadership of Vladimir Putin, Russia has allegedly developed sophisticated AI-based cyber tools aimed at manipulating news narratives, with potential implications for the upcoming US elections in November 2024. The revelation first came from Ukraine, a nation embroiled in conflict with Russia for the past two years. In an official statement issued yesterday, Ukrainian authorities...

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IBM offers AI enabled ransomware resilience data storage solutions

Amidst the prevailing wave of Artificial Intelligence technology, IBM has aligned itself with the trend by introducing an AI-driven ransomware resilience solution for data storage. This innovative offering is poised to tackle the diverse array of file-encrypting malware prevalent in today’s cyber landscape. Harnessing the power of IBM FlashCore Module technology within its FlashSystem products, bolstered by IBM Storage Defender Software, this solution stands as a formidable defense against cyber threats targeting data assets. Functioning seamlessly...

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Trending Cyber Attack news headlines on Google

APT29 moves from Government infrastructure towards Cloud Service Providers APT29, also known as Midnight Blizard or Cozy Bear and associated with Russian Intelligence, appears to have altered its approach from targeting government infrastructure to focusing on cloud service providers. This strategic shift is driven by the increased challenges posed by law enforcement efforts against infiltrations into government systems. Cloud services offer a more lucrative avenue for malicious actors, as compromising them can have far-reaching consequences, such...

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FTC slaps Avast with $16.5m penalty for selling browser data

It’s indeed concerning when cybersecurity solutions meant to protect users’ privacy end up compromising it instead. The case of AVAST highlights the importance of transparency and accountability in the handling of user data. Users trust these companies to safeguard their information, and any breach of that trust can have serious consequences. In a recent development, UK-based cybersecurity company AVAST found itself in hot water as the US Federal Trade Commission (FTC) uncovered its illicit practice of selling user data to marketing and advertising...

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Cybersecurity fears trigger Cloud Repatriation

It’s interesting to see the shift in attitudes towards cloud adoption, especially considering the initial push towards it from figures like former President Trump. The concept of cloud repatriation, where organizations bring their workloads back in-house from third-party cloud services, highlights some of the complexities and challenges involved in cloud migration. Security concerns have always been a significant factor in decision-making when it comes to cloud adoption, and it’s understandable that C-level executives would prioritize data protection...

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2024 is Here: Will This Be the Year We Get Passwords Right?

[By Darren James, Senior Product Manager, Outpost24] Humans have made unbelievable advancements in science and technology that have stretched the imagination and changed society forever.  But one seemingly mundane, albeit crucial, piece of wisdom continues to elude mankind – proper password management. We’ve all seen the headlines about the next big breach, the majority of which can be attributed to a root cause of human interaction, including the use of compromised or stolen access credentials, such as usernames and passwords. ...

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Repeat Ransomware attacks on 78% of victims who pay

In November 2019, the FBI and US-CERT jointly issued a statement advising against ransom payments to hackers, asserting that such payments could embolden cybercriminals and exacerbate cybercrime. They urged victims to instead seek guidance from law enforcement or forensic experts. Echoing this sentiment, Cybereason’s latest ransomware report, titled ‘The Cost to Business Study 2024,’ revealed alarming trends. According to the report, 78% of organizations that opted to pay ransom found themselves targeted by a second file-encrypting malware attack,...

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How to Properly Handle Cyber Security Incident Management

[By Chris Debigh-White, Chief Security Officer at Next DLP] The majority of security experts adhere to the “assume breach” paradigm, which recognizes the possibility, if not the inevitability, of an attacker gaining access to an organization. This breach could occur through various means, such as unpatched vulnerabilities, phishing attacks, insider threats, or the exploitation of the billions of stolen credentials harvested from previous breaches. With the “assume breach mindset,” a defender’s primary objective is to detect and mitigate these...

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Top 7 best Practices for Mobile Security in a BYOD Environment

In the modern workplace, the Bring Your Own Device (BYOD) trend has become increasingly prevalent, revolutionizing how businesses operate and employees collaborate. While BYOD offers flexibility and convenience, it also introduces significant security challenges, particularly in the realm of mobile devices. As organizations adapt to this new paradigm, it’s crucial to implement robust mobile security measures to safeguard sensitive data and mitigate risks effectively. The Rise of BYOD BYOD allows employees to use their personal smartphones, tablets,...

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Cyber Attack news headlines trending on Google

Federal Trade Commission Clears X (formerly Twitter) of Data Security Violations Following an investigation into the server operations of X, previously known as Twitter, the Federal Trade Commission (FTC) has announced that Elon Musk’s company has upheld user privacy and safeguarded their data. This statement comes in response to complaints filed by privacy advocates alleging that Twitter permitted third-party access to user information for research and advertising purposes. The FTC’s probe revealed that while third parties were granted access,...

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Toshiba and Orange offer quantum secure data transmission with utmost security

Toshiba, the Japanese electronics giant, and Orange, a major telecom company, have unveiled breakthroughs in quantum secure data transmission. Their innovation shields information transmitted over fiber optic networks from cyber threats of all kinds. The advancement relies on Quantum Key Distribution (QKD) technology, enabling secure data transmission at speeds of 400 Gigabits over a 100-mile fiber link. Quantum computing poses a growing threat to public key encryption, commonly used to secure data at rest or in motion. As this technology advances,...

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Air Canada AI Chatbot spreads misinformation only to fetch hefty legal penalty

When attempting to book a flight ticket on an air travel website, it’s common to encounter a chatbot designed to assist in completing the transaction. However, what happens if this chatbot provides misinformation that could result in costly consequences? This scenario unfolded for Jake Moffatt, a Canadian resident faced with the urgent need to book a flight to attend his grandmother’s funeral. Relying on the guidance of an AI-based chatbot, Jake believed he was entitled to a reimbursement under Air Canada’s bereavement policy, which offers discounted...

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Top 5 Cybersecurity Risks Facing Businesses Today

The digital era: what a time to be alive! It’s easier to stay in contact from a distance, make financial transactions, shop for necessities (or luxuries), and conduct business. Lucky us, right? The answer is undoubtedly yes, with an and… thrown in for good measure. We’re indeed in a period of life where things are easier and more accessible than ever. Of course, consumers and businesses aren’t the only ones benefiting from the digitization of modern life. Cybercrime is growing exponentially, and businesses in particular are at significant risk. The...

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API Security in 2024: Navigating New Threats and Trends

[By Tyler Shields, Vice President at Traceable AI] As we step into 2024, the landscape of API security is at a critical juncture. The previous year witnessed a significant escalation in API-related breaches, impacting diverse organizations and bringing to light the critical vulnerabilities in API security. This surge not only accentuated the essential role of APIs in our digital ecosystem but also catalyzed a much-needed shift in focus towards their security. And with regulatory bodies like the FFIEC now acknowledging APIs as distinct attack surfaces,...

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5 Ways to Counteract Increasing Cyber Insurance Rates

[By Brett Bzdafka, principal product manager at Blumira] Businesses today face an ever-increasing number of cyberattacks on average, often posing potential financial impacts in the 7-figure range. Despite this threat, only 55% of organizations have some form of cyber insurance, and only 19% have coverage for cyber events beyond $600,000. The high cost of premiums, which surged in 2022, might contribute to the low percentage of organizations with sufficient coverage. As the cybersecurity landscape continues to evolve, businesses must carefully evaluate...

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Wireless Visibility: The MUST for Zero Trust

[By Brett Walkenhorst, Ph.D., CTO, Bastille] Zero Trust has been an important paradigm for advancing network security for almost 15 years, incorporating tenets that move beyond perimeter-based control toward a multi-layered approach that seeks to minimize risk in the modern world. Although the paradigm is complex, the basic idea behind Zero Trust is to shift our mindset from...

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