Criminals continue to earn an illicit payday – at victims’ expense – thanks to crypto-locking ransomware, security experts and cyber insurance firms warn.
One insurer says it’s seen the number of cyber insurance claims for ransomware increase in recent months.
“In September, our insureds were hit particularly hard, with notifications to Beazley of ransomware attacks more than doubling relative to August,” Beazley Breach Response Services, which is part of London-based insurance business Beazley, says in a blog posted on Thursday. “It is unclear if this spike will continue, as up until September the overall number of ransomware incidents in 2018 have been holding steady with 2017 numbers.”
By Mathew J. Schwartz
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