Ofcom falls victim to Clop ransomware attack, compromising personal data of 412 employees and confidential information of regulated companies. The breach exposes vulnerabilities in MOVEit software, prompting industry-wide reevaluation of cybersecurity measures.
Rising Ransomware Costs Versus Cybersecurity Countermeasures Industry reports indicate that hackers are thriving despite advancements in cyber defense. The median cost of ransomware attacks has doubled to $26,000 over the past two years, with 95% of incidents resulting in financial loss ranging from $1 to $2.25 million. Social engineering and phishing remain highly effective tactics due to the human element. Senior leadership is increasingly becoming a cybersecurity threat. Governments and law enforcement agencies are taking more decisive actions against high-profile attacks, but these measures mainly deter hackers from targeting less coordinated markets. IoT devices used in DDoS attacks have risen to 1 million, accounting for 40% of global DDoS traffic, necessitating stronger network security and awareness. Despite improved measures, hackers are expected to continue succeeding. Read the full article Viasat Selected for AFRL’s ARBALEST Program: Enhancing Tactical Space Connectivity Viasat Inc., a global communications company, has been chosen by the…
As sanctions bite, Russia’s MTS begins to discount cell phones MTS, Russia’s largest operator, reported a 76.2 % year-on-year drop in Q1 net profit, blaming the results largely on rising interest rates caused by Western sanctions. Russia boosted local interest rates to 20% in the early days of the conflict before lowering them twice, leaving rates around 14% today. MTS has resorted to selling used and discounted smartphones, and is planning to sell its tower assets, in keeping with the current trend of monetizing passive assets located throughout Europe and beyond. Read more at: https://tinyurl.com/c65t43kb Verizon warns of record rise in ransomware According to Verizon Business, the number of ransomware attacks on enterprises has increased by 13% year-on-year, resulting in a rise exceeding that of the previous five years combined. Ransomware was involved in some manner in one-quarter of the cases investigated, with desktop-sharing software and email being the two…
