According to a new study by PGP Corporation and Ponemon Institute, data breach incidents cost U.S. companies $202 per compromised customer record in 2008, compared to $197 in 2007. The study is based on 43 organizations across 17 different industry sectors with a range of 4,200 to 113,000 records that were affected. It is also noted that since 2005, the cost component has grown by more than $64 on a per victim basis since -- nearly a 40% increase. more
"China Sets New Tone in Drafting Cybersecurity Rules," By Eva Dou in Beijing and Rachael King in San Francisco reporting in the Wall Street Journal. more
In a significant global operation, law enforcement agencies from 10 countries have severely disrupted the LockBit ransomware group, recognized as the most prolific and harmful cyber threat worldwide. more
StopBadware.org and Consumer Reports WebWatch have announced today the full launch of BadwareBusters.org, a new online community for people looking for help preventing and countering viruses, spyware, and other "badware" on their computers and websites. Maxim Weinstein, manager of StopBadware.org at Harvard University's Berkman Center for Internet & Society, says the site is not only a useful destination, but also a piece of a bigger puzzle. "BadwareBusters.org is part of StopBadware's strategy to bring together the people, the organizations, and the data that allow us to fight back against the spread of badware," Weinstein said. "The collective wisdom of the BadwareBusters community will inform not only individuals, but the entire technology industry." more
New security report has revealed at least 48 companies involved in research, development, manufacturing of chemicals and advanced materials have been victims of a coordinated cyberattack traced to a source in China. The purpose of the attacks, code named Nitro, appear to be industrial espionage, collecting intellectual property for competitive advantage, according to Symantec. more
The U.S. Department of Justice and the FBI announced on Wednesday that they have taken actions to disable an international botnet of more than two million infected computers responsible for stealing corporate data including user names, passwords and financial information. more
A significant ransomware attack by a group known as AlphV or BlackCat has severely disrupted pharmacies across the U.S., affecting the delivery of prescription medications for over ten days. This attack on Change Healthcare has resulted in considerable difficulties for hospital pharmacies and nationwide drug distribution. more
The Biden administration has announced an executive order that would ban U.S. federal agencies from using commercially developed spyware that poses threats to human rights and national security. more
A study comparing best-of-breed computer security vendors suggests more than half of active malware and phishing threats on the Internet go undetected, with an average detection rate of 37% for malware and 42% for phishing. "Given the dynamic nature of today's online threats and the traditionally reactive approach taken by today's malware and phishing detection technology, conventional signature-based solutions are inherently at a disadvantage to keep up," said Panos Anastassiadis, CEO and Chairman of Cyveillance. "Because the majority of damage occurs during the first 24 hours of an attack, early detection of attacks is crucial." more
New research indicates cyberattacks increasingly plague businesses and government organizations, resulting in significant financial impact, despite widespread awareness. Conducted by the Ponemon Institute, the Second Annual Cost of Cyber Crime Study revealed that the median annualized cost of cybercrime incurred by a benchmark sample of organizations was $5.9 million per year, with a range of $1.5 million to $36.5 million each year per organization. This represents an increase of 56 percent from the median cost reported in the inaugural study published in July 2010. more
Security expert Bruce Schneier in a blog post today writes: "It's about who is in charge of cyber security, and how much control the government will exert over civilian networks. And by beating the drums of war, the military is coming out on top. ... General Keith Alexander, the current commander of the U.S. Cyber Command, hypes it every chance he gets. This isn't just rhetoric of a few over-eager government officials and headline writers; the entire national debate on cyberwar is plagued with exaggerations and hyperbole." more
We know more and more about the financial cost of cybercrime, but there has been very little work on its emotional cost. David Modic and I decided to investigate. We wanted to empirically test whether there are emotional repercussions to becoming a victim of fraud (Yes, there are). We wanted to compare emotional and financial impact across different categories of fraud and establish a ranking list (And we did). more
More than 420,000 scam emails are sent every hour in the UK according to a report published by Card Protection Plan Limited (CPP). The study estimates that Britons were targeted by 3.7 billion 'phishing' emails in the last 12 months alone. And a quarter of people admit to falling victim to e-fraudsters, with the average victim losing over £285 each. more
Senior U.S. and Chinese officials concluded a four day meeting on Saturday discussing cyber security issues ahead of Chinese President Xi Jinping's visit to Washington later this month. more
Security researches report seeing as much unique malware in the first half of 2009 as seen in all of 2008. "This is quite something when you consider that in 2008 we saw the greatest ever growth in malware," says David Marcus of McAfee Avert Labs. More specifically, Marcus in a blog post writes that the numbers add up to an average of 200,000 unique pieces malware monthly or more than 6,000 a day. "Bear in mind these are malware we consider unique (something we had to write a driver for) and does not count all the other malware we detect generically or heuristically... When you add in the generic and heuristic detections the number becomes truly mind boggling," writes Marucs. more
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