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Impacts of Cyber Threats

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Ransomware Profits Hit $460 Million, Another Record Year Beckons

The ransomware threat continues to escalate, with cybercriminals reaping staggering financial rewards. A new report from cybersecurity firm Chainalysis reveals that ransomware gangs have...

Cyber Insurance Gap: CrowdStrike Outage Highlights Coverage Shortfalls

The recent CrowdStrike outage, which impacted millions of Windows devices worldwide, has underscored the limitations of cyber insurance policies in covering massive losses stemming...

Lens Giant Hoya Hit with $10 Million Ransomware Demand: A Closer Look at the Attack

Japanese optics giant Hoya Corporation, a leading manufacturer of lenses and medical equipment, recently became the target of a ransomware attack. The attack disrupted...

£11.3 Billion Bonanza for Fraudsters: UK Retailers Face Mounting Losses

Retailers beware! A recent study by Adyen and the Centre for Economic Business Research (CEBR) paints a concerning picture of the financial toll fraud...

Brace Yourselves: 2024 Shaping Up to be a Banner Year for Cybercrime

The year 2023 witnessed a significant rise in cyberattacks, causing disruption and financial losses for businesses and individuals alike. However, as we settle into...

Data Disappearing Act: 94% of UAE Orgs Lost Data in Past Year, Proofpoint Reports

A recent report by Proofpoint paints a concerning picture of data security in the United Arab Emirates (UAE). The report, titled "Proofpoint's Inaugural Data...

Breaking the Bank: Ransomware Payments Exceed $1 Billion in 2023, Sounding Alarm for Businesses and Individuals

The grim reality of ransomware attacks intensified in 2023, with reports indicating that payments to cybercriminals surpassed a staggering $1 billion. This significant milestone,...

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