Tag: western union
Ex-IT worker arrested for ransomware attack
The US New Jersey District Court has arrested a man accused of conducting a ransomware attack on a former employer, highlighting the growing “insider threat” organizations increasingly face from disgruntled or former employees. It is alleged that Daniel Rhyne, 57, described in court documents as “a core infrastructure engineer,” is alleged to have conducted a $750, 000 ransomware attack on a New Jersey-based industrial company. The as-yet-unidentified organization provides services to various industries, including aquaculture, biopharmaceuticals, chemistry, electronics, food and beverage, healthcare, hydrogen mobility, manufacturing and industrial processing, metals, oil and gas, and pulp and paper companies.
IT security responsible for 14% of cyber-breaches
A staggering 14 percent of cyber incidents are due to senior IT security staff errors, compounded by a further 15% of errors caused by other IT staff. According to a new study published by cybersecurity firm Kaspersky, over the last two years, 77 percent of companies experienced between one and six cybersecurity breaches, with IT security staff being directly culpable for almost a third of all cybersecurity breaches.
Enterprises face a steep rise in insider threats
As we predicted earlier this year, harsh economic conditions across Western democracies are acting as a catalyst for cybercrime - particularly those cyber-attacks that target staff inside the organization. As cybersecurity becomes more effective, cybercriminals are finding ways to bypass digital security barriers by victimizing and sometimes terrorizing key personnel within the target organization.
Western Union payouts highlight the “insider threat”
International money transfer company, US-based Western Union, has been obliged to pay a further $40 million on top of a previous $365 million payout to defrauded customers. As many customers were the victims of phishing attacks in which Western Union had already admitted some of its staff were complicit, the payouts highlight the growing “insider threat” now facing multinational corporations.