In rare move, State Department calls out Russia for attacks on Georgia last year

In a rare public announcement, the State Department is formally blaming Russian intelligence for a cyber incident that disrupted thousands of websites in Georgia last year. The incident, carried out by the Russian General Staff Main Intelligence Directorate (GRU) last October, according to Secretary of State Mike Pompeo, disrupted and defaced thousands of Georgian government websites and the broadcast of two television stations. “This action contradicts Russia’s attempts to claim it is a responsible actor in cyberspace and demonstrates a continuing pattern of reckless Russian GRU cyber operations against a number of countries,” Pompeo said in a statement Thursday. “These operations aim to sow division, create insecurity, and undermine democratic institutions.” Thursday’s announcement was the first time the U.S. government connected the GRU to the hacking group known as Sandworm. The U.S. government has previously said Sandworm was responsible for the NotPetya worm and Olympic Destroyer attacks. The rare reprimand […]

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How the Cyber Grinch Stole Christmas: Managing Retailer Supply Chain Cyber Risk

Cyber threats are always a prominent risk to businesses, especially those operating with high quantities of customer information in the retail space, with over 50% of global retailers were breached last year.  BitSight VP, Jake Olcott, has written… Continue reading How the Cyber Grinch Stole Christmas: Managing Retailer Supply Chain Cyber Risk

Fake Android apps uploaded to Play store by notorious Sandworm hackers

The Russian ‘Sandworm’ hacking group has been caught repeatedly uploading fake and modified Android apps to Google’s Play Store. Continue reading Fake Android apps uploaded to Play store by notorious Sandworm hackers

ICS Attackers Set To Inflict More Damage With Evolving Tactics

While it remains difficult to attack critical infrastructure successfully, adversaries aim to use past experience to launch more destructive future attacks, according to analysis. Continue reading ICS Attackers Set To Inflict More Damage With Evolving Tactics

Shareholders allege FedEx covered up damages caused by NotPetya attack

FedEx shareholders are accusing the company’s executives of failing to disclose the full extent of the NotPetya ransomware attack while also selling tens of millions of dollars worth of their own stock in the company, according to a lawsuit filed last week. Stock owners filed a lawsuit on Sept. 17 alleging that FedEx brass provided “materially false and misleading statements” about the ransomware attack that locked up systems at company subsidiary TNT Express more than two years ago. NotPetya wreaked havoc on corporate giants including Maersk, the British advertising firm WPP and the pharmaceutical conglomerate Merck. The White House blamed Russia for the attack, which caused more than $10 billion in damages and spurred a number of high profile lawsuits in the private sector. In this case, the suit alleges FedEx failed to inform its shareholders that TNT Express customers were abandoning the company in favor of other logistics providers […]

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Investors accuse FedEx of lying, stock dumping after NotPetya attack

This is the second such suit, with shareholders asking why execs sold $40m+ of their shares while downplaying the ransomware attack. Continue reading Investors accuse FedEx of lying, stock dumping after NotPetya attack

Demand for cyber insurance grows as volatility scares off some providers

There’s at least one part of the financial sector where hackers are good for business. Direct cyber insurance premiums grew to $2 billion last year, up 26 percent since 2015, according to figures published July 25 by Moody’s Investors Service. That figure represents less than 1 percent of premium insurance revenue in the U.S., but it’s clear the increasing claims over the past three years are driven largely by concerns about data breaches, distributed denial-of-service attacks and, perhaps most notably, ransomware. The problem, despite all the demand, is that some insurers are now re-thinking whether it’s in their best interest to keep offering the plans that help clients recover from devastating cyberattacks. Swiss Re Americas, a reinsurer that primarily backs governments and other insurance companies, is reluctant to embrace the cyber insurance market because of unpredictable, and expensive, attacks like the 2017 NotPetya incident, which the White House said caused $10 billion in […]

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