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Cyber Crime

Cyber crime stories continue to makes headlines worldwide.

Are you ready to communicate with stakeholders when a cyber attack happens?

According to SonicWall’s Cyber Threat Report, every category of cyber attack has increased, including encrypted threats, ransomware, cryptojacking, intrusion attempts and IoT malware. Ransomware has emerged as the top threat as hackers have figured out that it is an easier, more profitable venture.

 In its 2022 annual report, the Identity Theft Resource Center (ITRC) reported 1,802 data compromises impacting more than 422 million victims.  The ITRC said that supply chain attacks were 40% higher than malware attacks during the year.  Among the biggest data compromises of the year were Twitter with 221 million victims; AT&T Data with nearly 23 million victims; and CashApp Investing, LLC with 8.2 million victims.  According to an annual report from IBM and the Ponemon Institute 83% of organizations studied have experienced more than one data breach. In 2022, the average cost of a data breach increased by 2.6% to $4.35 million.

According to the report, companies with fully deployed security AI and automation saved $3 million. Excluding the cost of ransom, the average cost of a ransomware attack was $4.54 million. Eleven percent of breaches studied were ransomware attacks, up from just under eight percent the previous year.

In January, a third-party contractor reported more than a half-million Red Cross records were compromised. In an interesting twist, News Corp., one of the world’s largest media companies, admitted server breaches dating back two years that appeared to focus on reporters covering China-related issues. In June, a former Amazon employee was convicted for hacking credit card giant Capital One in a scheme that affected 100 million customers. In another financial industry hit, credit bureau TransUnion refused to pay a $15 million ransom to hackers who stole sensitive data.

In Australia, hackers demanded US $10 million to recover 9.7 million sensitive records acquired from a major healthcare company. In an online forum the hackers declared, “society ask (sic) us about ransom, its 10 million USD. We can make  discount… $1 = 1 customer.”  In December two men were arrested for conspiring with Russian nationals to hack the taxi dispatch system at New York’s JFK airport.  In October, Uber’s ex-security chief pleaded guilty to covering up a data breach from 2016. Uber was targeted in another incident where a hacker allegedly compromised the company’s internal Slack network.  In a shocking law enforcement incident, a hacker posing as a financial institution CEO allegedly accessed the FBI’s 80-thousand member InfraGard database, an outreach program that shares sensitive information on national security threats.  In December, Comcast customers got an unwanted holiday surprise when the cable and internet provider was hacked.

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Deborah Hileman, SCMP
ICM President and CEO

CEO Expertise for Every Client

Deborah Hileman, SCMP, President and CEO. A  globally certified strategic communication management professional (SCMP), business leader, coach and consultant with more than 35 years’ experience in public and private companies and non-profit organizations, Ms. Hileman has led high-performing communications and marketing teams in health care, manufacturing, insurance and financial services, nonprofits and higher education. Her most significant areas of expertise include strategic communications planning and reputation/crisis management, change management, employee engagement and communication training.