A relatively obscure ransomware group known as Bashe, which may have ties to the notorious LockBit syndicate, has recently executed a cyberattack targeting ICICI Bank, a significant player in the Indian financial sector with a global footprint. Reports indicate that Bashe successfully infiltrated the bank’s systems and exfiltrated a portion…
Healthcare, Industry Specific, Standards, Regulations & Compliance New Initiative Targets Improved Cybersecurity for EU Health Sector Marianne Kolbasuk McGee (HealthInfoSec) • January 21, 2025 Image: European Commission The European Commission has unveiled a comprehensive “action plan” aimed at reinforcing cybersecurity across healthcare institutions throughout the European Union. This initiative arrives…
The British government is currently contemplating new legislation aimed at addressing the persistent issue of ransomware attacks. This proposed regulation would mandate that organizations report all payments made to ransomware groups and additionally prohibit public sector entities from paying such extortion demands altogether. Targeting critical national infrastructure and public sector…
Data Breaches Surge Amid Evolving Cyber Threats The frequency of data breaches is climbing as new forms of cyberattacks emerge, according to experts in the field. Dr. Peter Madnick from MIT highlights three predominant threats currently challenging enterprises: vulnerabilities associated with cloud storage, the rise of sophisticated ransomware, and vendor…
Data breaches are increasingly prevalent as novel forms of cyberattacks surface. According to Madnick from MIT, three primary threats are at the forefront: vulnerabilities in cloud environments, sophisticated ransomware, and the exploitation of vendors. Vulnerabilities in the Cloud. With approximately 60% of corporate data residing in cloud systems, companies often…
Fraud Management & Cybercrime, Ransomware, Regulation Also: Integrating AML and Fraud Initiatives; the Global AI Arms Race Anna Delaney (annamadeline) • January 17, 2025 Clockwise, from top left: Anna Delaney, Mathew Schwartz, Suparna Goswami, and Tony Morbin This week, editors at ISMG convened to analyze a proposal in the U.K.…
European officials are increasingly apprehensive about the future of US support for Ukraine and NATO in light of ongoing tensions with Russia and a conflict that has extended into the digital realm. The situation has been significantly impacted by the work of cybersecurity experts, including the team led by Nathaniel…
The United Kingdom is set to implement a transformative measure in its strategy against ransomware attacks, instituting a formal prohibition on ransom payments. This regulation will primarily affect public and critical infrastructure sectors, including essential entities such as educational institutions, transportation systems, hospitals (notably the NHS), and financial organizations including…
Fraud Management and Cybercrime: Lessons from a Recent Ransomware Attack On January 10, 2025, PowerSchool, a significant provider of K-12 student information systems, revealed a data breach that has raised concerns among schools, students, and parents. The California-based company reported that unauthorized actors had stolen vast amounts of student data…
