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Cyber Insurance: MGM Resorts Reveals $110 Million Cost of Ransomware Hack Hospitality and entertainment giant MGM Resorts has disclosed that a ransomware attack last month has cost the company over $110 million. This figure includes $10 million in one-time consulting clean-up fees. The attack caused significant operational disruptions, particularly in MGM’s Las Vegas properties, and…
IoT Security: Cyberattacks Leave Big Impact on Healthcare Organizations Introduction A recent report by industrial and IoT security firm Claroty has revealed that approximately 78% of healthcare organizations in North America, South America, the APAC region, and Europe experienced a cyberattack in the past year. The attacks targeted IT systems, sensitive information, medical devices, and…
The Rising Cost of Data Breaches: Passing the Burden to Consumers Introduction Data breaches have become increasingly prevalent, costing organizations millions of dollars in damages. According to recent reports, the average cost per data breach for businesses in 2023 has risen to $4.45 million, marking a 15% increase over the past three years. Alarming as…
Hackers Steal Personal Information on Thousands of Pilot Applicants at American and Southwest Introduction In a startling incident, personal information for over 8,000 pilot applicants at American Airlines and Southwest Airlines was stolen by hackers who breached a database maintained by a recruiting company. The breach, which occurred on April 30, was discovered by the…
In the world of cybersecurity, getting access to security products is not always easy. More often than not, practitioners are required to attend demos, sign multi-year contracts, and commit to minimum spends before accessing products. This sales model is contributing significantly to the talent shortage in the industry, and cybersecurity companies need to rethink the…