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New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

Data Matters

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. Educate Insureds and Insurance Producers. individuals and businesses comply with ransomware payment demands in this October 2020 client alert.) regulator concerning the increasingly critical issue of cyberinsurance.

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Cloudflare: Mirai Botnet Launched Record-Breaking DDoS Attack

eSecurity Planet

Cloudflare last month fought off a massive distributed denial-of-service (DDoS) attack by a botnet that was bombarding 17.2 million requests per second (rps) at one of the internet infrastructure company’s customers in the financial services space. DDoS Attacks on the Rise. That prediction proved correct.

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Developments in Health Privacy and Cybersecurity Policy and Regulation: OCR Issues Cybersecurity Warnings and New Health Data Legislation Is Introduced

Data Matters

For example, the number of breaches of unsecured electronic Personal Health Information (“ePHI”) reported to the OCR affecting 500 or more individuals due to hacking or IT incidents increased 45% from 2019 to 2020. The Bill is set for review for the Committee on Health, Education, Labor, and Pensions.

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CyberheistNews Vol 13 #13 [Eye Opener] How to Outsmart Sneaky AI-Based Phishing Attacks

KnowBe4

Blog post with links: [link] [Live Demo] Ridiculously Easy Security Awareness Training and Phishing Old-school awareness training does not hack it anymore. back in 2020. When it comes to personal devices, the increase isn't as staggering, but the numbers are still horrible – back in 2020, 14.3% doing so in 2022, a 93% increase.

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Nation-State-Sponsored Attacks: Not Your Grandfather’s Cyber Attacks

Data Matters

At the end of 2021, DDoS attacks had grown more than 24%, while the total number of smart attacks (advanced, often targeted, DDoS attacks) had increased by 31% when compared to the same period in 2020. In December 2020, Mandiant informed the public about an advanced cyberattack, which later became known as the SolarWinds attack.

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New York Regulators Call on Insurers to Strengthen the Cyber Underwriting Process

Hunton Privacy

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. Obtain cybersecurity expertise to properly understand and evaluate cyber risk.

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Infosource Global Capture & IDP Vertical Market Analysis 2022-2023 Update

Info Source

CURRENT VERTICAL MARKET BREAKDOWN The Finance segment (Banking and Financial Services combined with Insurance) represents the largest industry sector. This blog post is an extract of the 2022–23 Global Capture & IDP Software Vertical Market Report, one of the elements of the Infosource Capture Software analyst services.