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Swiss supermarket chain offline as REvil campaign targets Kaseya VSA SHARE A chain of supermarkets in Switzerland is one of possibly thousands of potential victims in a new REvil ransomware gang attack that has targeted companies using information technology management software from Kaseya Ltd. The new REvil attack came ahead of the Independence Day holiday in the U.S. today. According to Bleeping Computer, the attack targeted managed service providers using Kaseya VSA in a supply-chain attack. Kaseya VSA is a cloud-based MSP platform that allows providers to automa...

In crosshairs of ransomware crooks, cyber insurers struggle FRANK BAJAK, AP Technology Writer July 5, 2021 FacebookTwitterEmail 5 1of5FILE - In this Feb. 21, 2019, file photo, people stand in front of the logo of AXA Group prior to the company's 2018 annual results presentation, in Paris. The cyber insurance industry, once a profitable niche, is now in the crosshairs of ransomware criminals. Pressure is building on the industry to stop reimbursing for ransoms, but so far only one major cyber insurer, AXA, is doing so — and only with new policies in France. To try to absorb the ...

Now, the sector isn't just in the criminals' crosshairs. It's teetering on the edge of profitability, upended by a more than 400 per cent rise last year in ransomware cases and skyrocketing extortion demands. As a percentage of premiums collected, cyber insurance payouts now top 70 per cent, the break-even point. Fabian Wosar, chief technical officer of Emsisoft, a cybersecurity firm specialising in ransomware, said the prevailing attitude among insurers is no longer: Pay the criminals. It's likely to be cheaper for all involved. “The ransomware groups got way too greedy too quickly. So ...

At this month's summit, US President Joe Biden warned his counterpart Vladimir Putin of reprisals against 'persistent malicious cyber-attacks'. But it will take more than posturing to end the stand-off.

LONDON — A surge in cyber attacks and ransomware hacks since the start of pandemic lockdowns is alarming for a world of finance moving headlong into digital…