Cybercrime Kingpin Arrested in Spain for Global Ransomware and Exploit Kit Operations
In July 2023, Maksim Silnikau, a 38-year-old Belarusian also known as Maksym Silnikov, was arrested in Estepona, Spain. The arrest was part of a coordinated operation involving the Guardia Civil, the UK's National Crime Agency, and US authorities. Silnikau, along with his associates, is accused of creating and distributing notorious ransomware like Reveton and Ransom Cartel, as well as exploit kits such as Angler, which have extorted millions globally.
ECB Cyber Resilience Stress Test Uncovers Gaps in Bank Recovery Plans
In a rigorous examination, 109 regulated banks underwent a stress test simulating a hypothetical cyber onslaught that incapacitated their pivotal IT frameworks. Among these, 28 institutions faced an intensified evaluation, requiring them to provide supplementary data on their strategies for confronting the digital assault.
Escalating Cyber Breach Costs: Financial Sector Leads at £5.4 Million Per Incident
In the latest revelation from the IBM Cost of a Data Breach report, the financial realm stands as the most burdened, with professional services and the technology sphere trailing closely, each grappling with breach expenses surpassing £5.4 million on average.
Ransomware Leads to Over $47 Million in Losses for Sonic Automotive and Key Tronic
Sonic Automotive, a major player in the U.S. automotive retail market and headquartered in North Carolina, faced a significant financial setback following a recent ransomware incursion. This digital attack, targeting CDK Global, a pivotal software provider for numerous dealerships across North America, resulted in a marked decrease in Sonic’s earnings per share by a third for the quarter ending June 30.
Cyber security consultant S-RM appoints new hires across restoration and recovery
Source: S-RM
Leading global intelligence and cyber security consultancy S-RM has today announced the appointment of Tom Yoxall and Mark Long as part of its ongoing investment into post-incident restoration and recovery services.
Banks and Payments Disrupted Worldwide by Faulty CrowdStrike Update
A recent update from cybersecurity firm CrowdStrike caused a significant disruption to banks and payment systems globally, leading to widespread outages and operational challenges. This unexpected glitch in the update affected Microsoft's infrastructure, resulting in downtime for several key financial services and payment processors that rely heavily on Microsoft's cloud services.
Cybersecurity Study Reveals Critical Need for Advanced Recovery Strategies
A recent study by Commvault reveals that 83% of organizations have faced a significant security breach, with over half occurring in the past year. This highlights the urgent need for robust cyber recovery strategies. Security professionals are increasingly concerned about external threats and acknowledge the inevitability of breaches.
Surge in Android Financial Threats and Infostealing Malwar
Over the past six months, Android financial threats have surged, targeting mobile banking funds through traditional malware and cryptostealers, as reported by ESET.
