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L Squared Insurance Agency Blog: cyber crime

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Ransomware encrypts computer files and is used by hackers who then demand money in exchange for freeing the content.  It is becoming a huge problem globally.  The costs of unlocking data varies; with individuals typically paying a few hundred dollars to thousands of dollars for businesses. READ MORE >>

According to the BBC, Android Smartphones since 2012 been targeted by malware dubbed Dark Caracal.  The malware was designed to look like 'WhatsApp' and 'Signal' which had stolen gigabytes of data.  This malware was aimed at Attorneys, Military Personal, Activists and Journalists. READ MORE >>

Professional Solutions Insurance Company has created an overview on cyber attacks.  To see this document click below. Protect yourself:  Trust Accounts and Email Scams READ MORE >>

If you got an e-mail from hhhhhhhhhhhhhhhh@mailinator, opened it and responded, you need to read this BBC Article.  The bad guys may already have your e-mail password and your google docs and you may have spread the malware to all of your friends. READ MORE >>

Here is another twist on Phishing e-mails that are costing many firms thousands if not millions of dollars.  According to law enforcement this is a common story involving business email compromise (BEC) or CEO fraud.  While the boss is away the e-mail comes in marked “urgent”, “payment”, and “request”. READ MORE >>

Hackers are holding San Francisco’s light-rail system for ransom.  For more details on what took place click on Cyber Attack San Francisco. READ MORE >>

In a ransomware attack close to home, the Lansing Board of Water & Light (LBPL), a Michigan municipal utility, in May paid a $25,000 ransom to unlock its internal communications systems after they were disabled by a cyberattack.  General Manager Dick Peffley told the Lansing State Journal it cost about $2. READ MORE >>

If there is not enough paranoia in the world, over 1/3 of IT professionals believe that their systems are already infected.  To find out more  read: The Enemy Within: Are Cyberattackers Embedded In Your System? Isn't time to think about Cyber Insurance/Data Breach? READ MORE >>

According the link to the attached Wall Street Journal Article, ransomware attacks have quadrupled this year from a year ago.  The FBI has stated that the attacks cost victims over $209 Million in the 1st 3 months of this year.  Average cost of the attack is around $10,000. http://www.wsj. READ MORE >>

Ransomware encrypts computer files and is used by hackers who then demand money in exchange for freeing the content.  It is becoming a huge problem globally.  The costs of unlocking data varies, with individuals typically paying a few hundred dollars to a few thousand for businesses. READ MORE >>

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