Cyber risk quantification (CRQ) can be an invaluable tool. The ability to put a number to cyber risk aids in communicating with board members, planning strategic investments, calculating the return on investment of cybersecurity spending, and right-sizing cybersecurity insurance coverage. However, many organizations avoid taking advantage of CRQ due to some common misconceptions.

An attack exploiting CVE-2023-34362, a zero-day vulnerability in the MOVEit file transfer software, was disclosed at the start of June, with additional victims still being uncovered. The vulnerability is an SQL injection vulnerability that could allow an unauthenticated attacker to gain access to MOVEit Transfer's database. The attack was carried out by at least one threat who gained unauthorized access to the software and stole sensitive data from affected organizations.

The B2B landscape has seen a rapid shift towards digitalization, which makes cyber exposure management increasingly critical for companies in every sector and across all geographies. A pivotal aspect of managing cyber exposure is the ability to quantify the impact of cyber risks, which is traditionally a laborious task. This article describes how data integration is the key to unlocking quick and accurate cyber risk financial quantification.

Cybersecurity has become a top-of-mind concern for many C-level executives and board members. Data breaches are a daily occurrence and carry a hefty — and growing — price tag averaging $4.35 million worldwide, according to the latest Cost of a Data Breach report. However, this is only one of several potential cybersecurity risks that an organization can face.

Against the backdrop of the growing frequency and severity of cyber attacks against enterprises, proposed new regulations from The Securities and Exchange Commission (SEC) are set to require publicly traded companies in the U.S. to analyze how cyber risk could affect financial statements. ‍

A major security incident in the crypto field occurred between March 17-18th. Due to a vulnerability that was not caught before the event, unknown crypto hackers were able to drain 1.6 million USD (around 59 BTC) from Bitcoin ATMs owned by General Bytes - the world’s largest Bitcoin, Blockchain, and Cryptocurrency ATM manufacturer.

As the frequency and complexity of cybersecurity threats continue to grow, it is becoming increasingly important for organizations to adopt advanced tools and techniques to protect themselves. One way to do this is by utilizing the MITRE attack framework (ATT&CK), a comprehensive taxonomy of common tactics, techniques, and procedures (TTPs) cyber attackers use to compromise information systems and steal data.

Being part of a governance, risk, and compliance (GRC) team is no easy task, as you have to stay on top of evolving expectations and laws, while connecting different business units together in a way that makes sense to other stakeholders. One area that’s been particularly tough to manage recently has been cybersecurity. From new data security standards to heightened risks around areas like ransomware, GRC teams have their hands full.

The Dutch Police have arrested three individuals for suspected ransomware activity, which generated at least 2.5M Euro in extortion fees. The actors are believed to have attacked thousands of organizations, compromising the data of tens of millions of individuals. This is another example of successful law enforcement activity against ransomware operations. Such activity has increased over the past year, leading to the arrest of several prominent ransomware group members, such as Revil and Netwalker.