Cyber Security Tag

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Ransomware attacks—which entail a cybercriminal deploying malicious software to compromise a device (or multiple devices) and demand a large payment be made before restoring the technology for the victim—have become a significant concern for organizations across industry lines.

In fact, the latest research provides that these attacks have increased by nearly 140% in the past year alone, with the median ransom payment demand totaling $178,000 and the average overall loss from such an attack exceeding $1 million.

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Remote desk protocol (RDP)—which is a network communications protocol developed by Microsoft—consists of a digital interface that allows users to connect remotely to other servers or devices.

Through RDP ports, users can easily access and operate these servers or devices from any location. RDP has become an increasingly useful business tool—permitting employees to retrieve files and applications stored on their organization’s network while working from home, as well as giving IT departments the ability to identify and fix employees’ technical problems remotely.

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Cyber insurers passed a tipping point in 2020, with loss frequency and severity outpacing pricing increases and tougher underwriting, according to a new report from Aon.

Claim severity rose significantly in 2020, according to Aon’s analysis, with many clients seeing eight-figure ransomware losses. In terms of frequency, Aon typically saw three new errors and omissions (E&O)/cyber claims each day. This is up nearly 100% from 2019, with ransomware up 486% between the first quarter of 2018 and the fourth quarter of 2020, and 150% between 2019 and 2020.

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Tens of thousands of organizations around the world using Microsoft’s Exchange Server have been compromised by a cyber campaign suspected to have ties to China.

This campaign exploited software vulnerabilities to seize control of systems and steal data, according to researchers. Security researchers at Volexity first detected the hack in January, according to Microsoft. Volexity has provided a full overview of the technical details on its website. FireEye’s Mandiant also reported evidence that the campaign hit U.S. retailers, local governments, a university and an engineering firm. Cybersecurity blogger Brian Krebs reported at least 30,000 U.S. organizations could be affected, among them being small businesses and municipalities.

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The tax industry, state tax agencies and the IRS are warning taxpayers about a new scam that criminals are using to try to trick people into disclosing their bank account information in order to receive an Economic Impact Payment, or as it’s commonly referred to, a stimulus check.

What’s the Scam?

In this new scam, criminals are texting individuals with a message reading:

The COVID-19 pandemic has solidified remote work as a new operational standard.

Employers should expect this trend to only grow in the future. In fact, many major companies, such as Twitter and Microsoft, have indicated that remote work will be an indefinite option for their employees.

While this is exciting in many ways, remote work also comes with unique challenges—namely, cybersecurity. This article discusses some cybersecurity risks that remote employees face and offers potential solutions.

According to recent estimates from the University of Maryland, there is a cyberattack every 39 seconds. Data breaches and cyberattacks are daily headlines—and employee benefits plans are no exception to that threat.

In fact, employee benefits plans are even more vulnerable as the coronavirus pandemic continues. Organizations and benefits providers are relying heavily on electronic access, ultimately creating new vulnerabilities.

HR Insights Blog HeaderThe presence of unemployment-related scams has grown in the wake of the coronavirus (COVID-19) pandemic. Current unemployment scams include both fraudulent claims and unemployment-related phishing attempts.

As many employers are currently dealing with the reality of a high amount of unemployment claims, organizations can take steps to prepare for fraudulent activity and to accurately identify legitimate requests. By taking proactive steps and preventive measures, your organization can be best prepared to identify and, if necessary, respond to fraudulent activity.