cyber insurance – DIGIT INFO

Ransomware Revenue Drops as Victims Pay Less Often, Chainalysis Reports

DIGIT — Sat, 21 Jan 2023 05:30:46 +0000

While the number of ransomware hits may not have decreased significantly, the revenue from such attacks has fallen sharply last year, according to Chainalysis. The blockchain forensics firm believes that to a large extent the trend can be attributed to more of the targeted organizations refusing to pay the perpetrators. Chainalysis Registers Significant Decline in […]

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Why Businesses are Turning to Cyber Insurance for Protection

DIGIT — Wed, 11 Aug 2021 19:51:55 +0000

Storing data electronically is convenient for businesses across industries. While the storage abilities of the Internet benefit many, the drawback is that online data is always at some level of risk for cybercrime. As internet access expands worldwide, so too does the volume of business taking place online. Sharing data across multiple apps and clouds, among other acts, increases the opportunity cyber criminals have to exploit company weaknesses. Cyber crime is one of the most lucrative criminal ventures. In 2016, ransomware caused $209 million in damages. By 2020, that figure exploded to $170 billion. Even large corporations are not

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OFAC Warns Americans Against Facilitating Ransomware Payments

DIGIT — Mon, 05 Oct 2020 10:55:51 +0000

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently issued an advisory highlighting the sanctions risk American citizens face if they help facilitate ransomware payments. In the advisory, the OFAC says it will “continue to impose sanctions on those who materially assist, sponsor, or provide financial, material, or technological support for […]

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Australia’s Blockbid Exchange Granted Cryptocurrency License by Austrac

DIGIT — Wed, 11 Apr 2018 06:00:57 +0000

Blockbid is now registered with the Australian Transaction Reports and Analysis Centre (Austrac). This makes it only the third company granted permission to legally operate as a cryptocurrency exchange in Australia since new regulations came about last week. Also Read: Stanford, Wharton and Georgetown Expand Bitcoin Business Classes Cyber Insurance Austrac has approved an application […]

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