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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.

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Security Compliance & Data Privacy Regulations

eSecurity Planet

Regulatory compliance and data privacy issues have long been an IT security nightmare. GDPR (among other legal requirements in the EU and elsewhere) can expose multinational organizations to hefty financial penalties, additional rules for disclosing data breaches, and increased scrutiny of the adequacy of their data security.

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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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The Week in Cyber Security and Data Privacy: 27 November – 3 December 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. The security researcher Bob Diachenko of SecurityDiscovery first identified the exposed information in mid-September. Data breached: over 300 million records.

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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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9 cyber security predictions for 2022

IT Governance

This is as true in the cyber security landscape as it is in any other. To help you understand what might be in store in 2022, we’ve collected nine forecasts from cyber security experts. Cyber insurance will become more popular and more comprehensive. Cyber insurance premiums will increase. But predictions are difficult.

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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.