Cyber Breach Reduces Company Market Value - The Ugly Truth about Ransomware and Cyber Attacks
Updated: Mar 23, 2022
The Ugly Truth about Ransomware and Cyber Attacks for Business
The costs and rate of Cyber Breaches, Data Theft and Ransomware are increasing and now commonplace. According to #BusinessInsurance based upon a report in the United States:-
"Cyber activities such as Phishing, Malware and Ransomware grew from fewer than 5,000 per week in February 2020 to more than 200,000 per week in late April 2021."
(Reuters) — Shares in Okta Inc. fell 9% on Wednesday 23rd March 2022 after the U.S. digital authentication company said hundreds of its customers may have been affected by a security breach involving hacking group Lapsus$.
The breach sparked concern as the cyber extortion gang had posted what appeared to be internal screenshots from within the organization's network roughly a day ago. Okta Chief Security Officer David Bradbury said in a series of blog posts that the “maximum potential impact” was to 366 customers whose data was accessed by an outside contractor.
Hackers operate in the "dark-web" are sophisticated and their business is Disruption and to be paid to "release" a seized system before they publish the information for sale on the "Dark-Web".
Can you afford not to Review your Processes as part of your Enterprise Risk Management? Attacks cause loss of business value, cancellation of contracts , Increased Costs of Working the possible Reputational Loss due to personal or commercially sensitive information.
We have 35+ years of Proven Professional Success helping companies access the right process, Risk Mitigation and supporting Specialist Insurance Products. We are a FCA approved Authorised Representative of Lloyds Broker Bellwood Prestbury Limited and have access to the specialist insurers worldwide.
Cyber Criminals are working to access companies now are you trying to stop them?
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#cyberinsurance #ransomware #databreach #enetrepriseriskmanagement #reputationalrisk