'The Growing Global Impact of Ransomware Attacks: Risks, Damage, and Solutions'

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#Ransomware attacks are a type of #cybercrime where hackers encrypt an individual or organization's data and demand payment, usually in cryptocurrency, in exchange for the decryption key.


Ransomware attacks have become more common and sophisticated in recent years. As technology advances and more devices become connected to the internet, the potential attack surface for cybercriminals also increases. This could lead to a higher number of successful ransomware attacks, further driving up the damage costs.


Disaster recovery and data protection will play a crucial role in 2023. With ransomware attacks constantly garnering headlines, organizations should get used to the fact that it is impossible to prevent ransomware attacks entirely. Moreover, with the rise of Ransomware as a Service (RaaS) over the past couple of years, global ransomware damage costs are predicted to exceed $265 billion by 2031.


Today's Headline in NewsHours
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2:52 New WhatsApp feature to let users lock chat
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3:58 Market valuation of BYJU's, Swiggy slashed by US-based investors
4:37 #Ericsson completes transfer of IoT business to Aeris
5:13 Dentsu Global Services appoints Ashish Khanna as CEO


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    'The Growing Global Impact of Ransomware Attacks: Risks, Damage, and Solutions'

    #Ransomware attacks are a type of #cybercrime where hackers encrypt an individual or organization's data and demand payment, usually in cryptocurrency, in exchange for the decryption key.


    Ransomware attacks have become more common and sophisticated in recent years. As technology advances and more devices become connected to the internet, the potential attack surface for cybercriminals also increases. This could lead to a higher number of successful ransomware attacks, further driving up the damage costs.


    Disaster recovery and data protection will play a crucial role in 2023. With ransomware attacks constantly garnering headlines, organizations should get used to the fact that it is impossible to prevent ransomware attacks entirely. Moreover, with the rise of Ransomware as a Service (RaaS) over the past couple of years, global ransomware damage costs are predicted to exceed $265 billion by 2031.


    Today's Headline in NewsHours
    0:00 Intro
    2:52 New WhatsApp feature to let users lock chat
    3:22 #Google's Bard to switch to a more powerful language model
    3:58 Market valuation of BYJU's, Swiggy slashed by US-based investors
    4:37 #Ericsson completes transfer of IoT business to Aeris
    5:13 Dentsu Global Services appoints Ashish Khanna as CEO


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    #ransomware #cybersecurity #ransomattack #ransomwareawareness #cybercrime #malware #datasecurity #protectyourdata #globalcrisis #cyberattack #cybersecurityawareness #staysafeonline #computersecurity #cyber

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    Autonomous & electric car industry looming under cyber threat



    Autonomous driving, connected cars, electric vehicles, and shared mobility – have dominated the agenda of automotive industry leaders in recent years. These innovations, built on the digitization of in-car systems, the extension of car IT systems into the back end, and the propagation of software, turn modern cars into information clearing houses. Hacking of connected cars by security researchers has made headlines over the past few years, and concerns about the cybersecurity of modern vehicles have become real. In order to excel at cybersecurity, new processes, skills, and working practices along the automotive value chain will be required. This includes identifying cyber risks, designing secure software and hardware architectures, and developing and testing secure code and chips, ensuring that issues can be fixed – even years later – via software updates. The rising need for cybersecurity will trigger investments over the next few years.



    As our cars get more connected, the risk of cybersecurity breaches increases on board. While the industry charged with combatting vehicle hackers is booming, it’s a constant battle to keep up with increasingly sophisticated technology. A new standard has just been published to help manufacturers get one step ahead. ISO/SAE 21434 will help consider cybersecurity issues at every stage of the development process and in the field, increasing the vehicle’s own cybersecurity defences and mitigating the risk of potential vulnerabilities for every component. We expect to see the market grow to $9.7 billion in 2030, with software business representing half of the market by 2030. The strong growth of the market will create many new business opportunities for suppliers, established IT firms, specialist niche firms, start-ups, and many others, especially in the software development and ser

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  • Watch Growing adoption of collaboration platforms could bring potential risks Video
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    Collaboration Platforms posing risks

    There has been a widespread adoption of collaboration platforms across industries to improve and personalize Customer Experience. Organizations are using these platforms in innovative ways to improve, personalize and hence deliver better Customer experience to a variety of customers across rural and urban areas. This has helped companies establish a better connection with a larger customer base and gives customers the flexibility to connect from anywhere, anytime and across any device/platform. Beyond connecting with customers, companies are also using collaboration platforms in a variety of ways to enable new ways of working, learning, service delivery, hosting events and empowering a hybrid workforce. In the post-pandemic world, collaboration and conferencing tools like Microsoft Teams, Slack, Zoom, etc. have replaced desk chatter, watercooler conversations and even email. As we approach the end of 2021, organizations across the globe have understood the importance of the hybrid work space and are preparing their teams for this new normal. As a semblance of normalcy resumed during the latter half of the year, we saw organizations adopt a mix of remote, hybrid and physical setups in different mixes as were best suited to their objectives.

    Virtual Care and Telehealth are here to stay and the past couple of years have really highlighted the importance of virtual healthcare. Telehealth and video communications have made value-based care more accessible, convenient, and affordable. Various innovations and improvements have improved patient experience to a great extent. Providers today can consult with global experts and continue their medical education with virtual training, certification programs, and conferences. Most of the workers are on home networks, potentially using personal devices, or interacting — unwittingly or not — through unauthorized communica

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  • Watch Ransomware to cause 30 bn damage Video
    Ransomware to cause 30 bn damage

    #Cyberattacks have contributed to a loss of more than $60 billion in decentralised finance (DeFi) currency since 2012 and $44 billion of that has vanished during the last 12 months. #Ransomware underlines how over-complexity in IT and infrastructure leads to increased attacks.

    Nearly half of all reported breaches during the first half of 2022 involved stolen credentials, which enable phishing and ransomware campaigns, according to the report. To extract credentials and other sensitive information, cybercriminals use phishing and malicious emails as their preferred infection vectors.

    Nearly one per cent of all emails contain malicious links or files, and more than one-quarter (26.5 per cent) of all emails were delivered to the user's inbox (not blocked by Microsoft365).

    “Organisations of all sizes need a holistic approach to cybersecurity that integrates everything from anti-malware to email-security and vulnerability-assessment capabilities,” experts say.

    Ransomware gangs, like Conti and Lapsus$, are inflicting serious damage. The Conti gang demanded $10 million in ransom from the Costa Rican government and has published much of the 672GB of data it stole. Lapsus$ stole 1 TB of data and leaked credentials of over 70,000 Nvidia users. The same gang also stole 30 GB worth of T-Mobile's source code.

    “Six hundred malicious email campaigns made their way across the internet in the first half of 2022 and 58 per cent of the emails were phishing attempts. Another 28 per cent of those emails featured malware,” the report noted.

    The business world is increasingly distributed, and in Q2, an average of 8.3% of endpoints tried to access malicious URLs.

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  • Watch Ransomware and DDoS attacks pose dangerous threats to patients having health issues Video
    Ransomware and DDoS attacks pose dangerous threats to patients having health issues

    Increased digitization in healthcare is a contributor to the industry’s enlarged attack surface. And it is accelerated by a number of factors: the broad adoption of Electronic Health Records Systems (EHRS), integration of IoT technology in medical devices (software-based medical equipment like MRIs, EKGs, infusion pumps), and a migration to cloud services. A hospital room is equipped with an average of 15-20 devices connected to the internet in today's world of healthcare. The proliferation of medical and internet-connected devices in healthcare brings both clinical benefits and security risks. Indeed, the increasing use of medical IoT devices makes healthcare organizations more vulnerable to DDoS attacks; attackers use infected IoT devices in botnets to launch coordinated attacks. Since healthcare IT systems contain sensitive patient data, the sector has long been a target for hackers. Cybercriminals are drawn to healthcare networks because of widespread flaws that offer lucrative opportunities, which is why attacks are on the rise. Ransomware-as-a-service has become the norm in the cybercrime community in the healthcare industry this year.

    “Globally, ransomware attacks have been one of the biggest threats to cybersecurity, particularly in the healthcare sector. As per Sophos’ The State of Ransomware in Healthcare 2021 report - 34% of healthcare organizations were hit by ransomware in the last year. Hospitals and health systems are, quite unfortunately, ripe for ransomware and other cyberattacks. Some of the factors most responsible for the rise in healthcare-targeted cyberattacks are due to the nature of the industry itself, like decentralized operations across hospitals and healthcare providers, and exponentially growing volumes of patient health information being captured and stored electronically (i.e. electronic health records) by health systems. Healthcare providers need to invest in technologies like EDR with human-led threat hunting, deploying

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  • Watch Surge in Ransomware and IoT attacks Video
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    There are evolving tactical behavior from digital threat actors as they opt for different types of malicious attacks compared to years past. The IoT #malware (37%) and encrypted threats (22%) also is on the rise, the SonicWall Mid-Year #CyberThreat Report uncovers.

    #Cybercriminals are diversifying and expanding their skill sets to attack critical infrastructure, making the threat landscape even more complex and forcing organizations to reconsider their security needs. Despite the decline in global ransomware attempts (-41%), a variety of other attacks have trended up globally, including crypto-jacking (+399%), IoT malware (+37%) and encrypted threats (+22%).

    Overall intrusion attempts were up, led by the highest year on record for global crypto-jacking volume recorded by SonicWall, as threat actors shifted away from traditional ransomware attacks in favor of a stealthier means of malicious activities. The data suggests increased law enforcement activity, heavy sanctions and victims’ refusal to pay ransom demands have altered criminal conduct, and threat actors are targeting other means of revenue.

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