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Merck settles with insurers regarding a $1.4 billion claim over NotPetya damages

Security Affairs

Merck has resolved a dispute with insurers regarding a $1.4 Merck and its insurers have agreed with a $1.4 billion insurance claim for the losses caused by the NotPetya attack that took place in 2017. Merck had not taken out specific insurance to cover cyber attacks, it only had insurance coverage against general risks.

Insurance 112
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Researchers released a free decryptor for Black Basta ransomware

Security Affairs

A team of researchers released a suite of tools that could help victims to decrypt data encrypted with by the Black Basta ransomware. Independent security research and consulting team SRLabs discovered a vulnerability in Black Basta ransomware’s encryption algorithm and exploited it to create a free decryptor.

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How to make sure your cyber insurance policy pays out

IT Governance

Cyber insurance is big business these days. Damages incurred by information security incidents generally aren’t covered in commercial insurance policies, so a specific policy is necessary to help cover the costs of things like forensic investigation, incident response and notification procedures.

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Black Basta gang claims the hack of the UK water utility Southern Water

Security Affairs

In early January, independent security research and consulting team SRLabs discovered a vulnerability in Black Basta ransomware’s encryption algorithm and exploited it to create a free decryptor. Depending on the file size, the ransomware encrypts the initial 5000 bytes. continues the researchers.

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Security Compliance & Data Privacy Regulations

eSecurity Planet

are subject to laws such as the Health Insurance Portability and Accountability Act (HIPAA) and the Health Information Technology for Economic and Clinical Health Act (the HITECH Act), as well as regulations such as the Clinical Laboratory Improvements Amendments (CLIA). Security, Privacy and Compliance Can Conflict.

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City of Dallas has set a budget of $8.5 million to mitigate the May Royal ransomware attack

Security Affairs

The Royal group began reconnaissance activity in April 2023, and the analysis of system log data dates the beginning of the surveillance operations on April 7, 2023. The command-and-control beacons allowed Royal to prepare the City’s network resources for the May 03, 2023, ransomware encryption attack.”

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The Week in Cyber Security and Data Privacy: 16–22 October 2023

IT Governance

At the end of each month, these incidents – and any others that we find – will be used to inform our monthly analysis of data breaches and cyber attacks. Incident details: The company found that data on its network had been encrypted without its knowledge. Records breached: 91,000 individuals affected. Records breached: Unknown.