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In December 2023, Elliptic and Corvus Insurance published a joint research that revealed the group accumulated at least $107 million in Bitcoin ransom payments since early 2022. The researchers analyzed blockchain transactions, they discovered a clear link between Black Basta and the Conti Group.
In December 2023, Elliptic and Corvus Insurance published a joint research that revealed the group accumulated at least $107 million in Bitcoin ransom payments since early 2022. The researchers analyzed blockchain transactions, they discovered a clear link between Black Basta and the Conti Group.
Crypto and blockchain organizations continue to offer the highest average overall payouts for vulnerabilities in their platforms, this year’s top reward was $100,050. . “The Hacker-Powered Security Report makes clear that hackers are actively growing their skillsets to meet emerging threats.
A joint research by Elliptic and Corvus Insurance revealed that the group accumulated at least $107 million in Bitcoin ransom payments since early 2022. The researchers analyzed blockchain transactions, they discovered a clear link between Black Basta and the Conti Group.
A joint research by Elliptic and Corvus Insurance revealed that the group accumulated at least $107 million in Bitcoin ransom payments since early 2022. The researchers analyzed blockchain transactions, they discovered a clear link between Black Basta and the Conti Group.
Add to that, there is the risk of penalties and fines (which are not insurable in most jurisdictions) not only under privacy and data protection regulations but also on the basis of cybersecurity regulations that are now proliferating. What should directors do if a cyberattack happens to the company? there could be reputational damage.
A joint research by Elliptic and Corvus Insurance revealed that the group accumulated at least $107 million in Bitcoin ransom payments since early 2022. The researchers analyzed blockchain transactions, they discovered a clear link between Black Basta and the Conti Group.
Given the growth of markets for cryptocurrencies and other blockchain-based assets, often referred to as “digital assets,” we see growing interest from traditional investment managers in gaining exposure to this emerging asset class. Article I: Digital Asset Overview and Methods to Gain Exposure to Digital Assets .
Blockchain databases were designed to enhance trust in centralized ecosystems by incorporating tamper-evidence features into traditional databases. However, existing blockchain databases lack efficient tools for multiple parties to control shared data on the ledger.
It is used by all of 10 biggest global Banks, Insurance companies and supply chain companies. The solution developed by Sphereon plugs right into the Kofax Capture system and enables Kofax Capture customers to anchor scanned documents onto the Factom blockchain as part of their Document Capture process. Proof of existence.
In the past decade, innovations such as AI, machine learning, and blockchain technology have rewritten the rules of the game, saving millions in operational costs, inefficiencies, lost productivity, and security breaches. Blockchain: Increases security and trust by ensuring data integrity, authenticity, and immutability.
This allows for the movement of crypto from one blockchain to another. Essentially, the hacker was able to manipulate the blockchain, which allowed for minting huge numbers of tokens. . Also read: The State of Blockchain Applications in Cybersecurity. But BNB Chain was swift in its response and suspended transactions.
The blockchain bowling alley: How distributed ledger technology goes mainstream. As someone engaged with blockchain projects since 2016 in CGI’s Trade Innovation Lab (and countless emerging technology projects before that), my experience is that blockchain is making the leap from experimental to production-ready solutions.
Riding the blockchain wave in trade finance. Trade finance, whether conducted on a domestic or international basis, can be a paper-intensive, costly and risk-laden proposition, involving not just companies importing and exporting goods and services but also their banks, insurers and others. ravi.kumarv@cgi.com. Mon, 12/12/2016 - 22:35.
The National Association of Insurance Commissioners (NAIC) held its Spring 2019 National Meeting (Spring Meeting) in Orlando, Florida, from April 6 to 9, 2019. ceding insurer could be eligible for the same reduced collateral requirements that would apply to qualifying EU reinsurers under the revised CFR Model Laws.
Rather than rely on centralized databases, PII is validated via a distributed ledger or blockchain. Many people who receive SNAP benefits are also eligible for Medicaid, Temporary Assistance for Needy Families (TANF), and the Children’s Health Insurance Program (CHIP).
To get the most from blockchain in government, a sharing mindset is needed. Twenty-five years later, blockchain is here and can bring those use cases to life. However, blockchain requires organizations to think about their data not as an asset they own, but as a shared resource—a shift in mindset that is not easy for everyone.
The blockchain bowling alley – how distributed ledger technology goes mainstream. As someone engaged with blockchain projects since 2016 in CGI’s Trade Innovation Lab (and countless emerging technology projects before that), it feels as though blockchain is now making the leap from experimental to production-ready solutions.
The blockchain bowling alley: How distributed ledger technology goes mainstream. As someone engaged with blockchain projects since 2016 in CGI’s Trade Innovation Lab (and countless emerging technology projects before that), my experience is that blockchain is making the leap from experimental to production-ready solutions.
Finance and insurance finished a close second at 22.4%. Finance and insurance companies were particularly vulnerable to the sort of phishing scams we’re talking about. One particularly potent emergent technology for scammers is blockchain and the related cryptocurrency and NFTs. of cyber attacks IBM handled.
A major health insurer and an integrated delivery system are among the latest organizations to join a blockchain collaborative aiming to bring the technology to healthcare.
When we hear the word blockchain, most of us still think of Bitcoin, that mysterious new currency that seems to equally enthrall forward thinking investors and less-than-savory entrepreneurs who lurk around the darkest parts of the Dark Web. Each time data is changed, a record is shown on the digital ledger, identifying the responsible party.
Insurers’ top trends and priorities: A look at CGI’s 2017 Voice of Our Clients findings (part 1). This year, we conducted in-person interviews with more than 1,300 client executives across 17 countries, including insurance business and IT executives. harini.kottees…. Mon, 07/31/2017 - 05:30. Change accelerators.
Insurers’ top trends and priorities: A look at CGI’s 2017 Voice of Our Clients findings (part 1). This year, we conducted in-person interviews with more than 1,300 client executives across 17 countries, including insurance business and IT executives. p.butler@cgi.com. Thu, 12/07/2017 - 15:32. Change accelerators.
Insurers’ top trends and priorities: A look at the 2017 CGI Client Global Insights (part 2). In my previous blog , I introduced findings from in-person interviews CGI held in 2017 with more than 1,300 client executives across 17 countries, including insurance business and IT executives. Tue, 12/05/2017 - 17:24.
Insurers’ top trends and priorities: A look at the 2017 CGI Client Global Insights (part 2). In my previous blog , I introduced findings from in-person interviews CGI held in 2017 with more than 1,300 client executives across 17 countries, including insurance business and IT executives. Thu, 12/07/2017 - 15:43.
electronic payments, check capture and online banking), the OCC lists some of the new technologies, the implementation of which may be hindered by ambiguous, burdensome or inflexible rules, such as blockchain, artificial intelligence, biometrics, cloud computing and big data/analytics. Comments are due by August 3, 2020. 31, 2020).
million) Brazilian retailer Fast Shop confirms cyber attack (unknown) ADM Associates announces security incident (unknown) Guardian Fueling Technologies has been hacked (unknown) Pape-Dawson Engineers, Inc. hit by cyber criminals (unknown) Acorda Therapeutics, Inc. Malicious insiders and miscellaneous incidents.
Web hosting giant DigitalOcean discloses it was one of the victims, and that the intruders used their access to send password reset emails to a number of DigitalOcean customers involved in cryptocurrency and blockchain technologies. The data is published after Medibank reportedly declines to pay a US$10 million ransom demand.
The Retail Year in Review includes several articles authored by our Global Privacy and Cybersecurity lawyers, and touches on many topics of interest including blockchain, ransomware, cyber insurance and the Internet of Things. Read the full publication.
Cyber insurance has in some regions encouraged victims to pay as it is cheaper than remediation in some cases. Cyber criminals will continue to use blockchain technology for transactions. Ransomware will continue to increase. However, organisations as a whole will be targeted rather than individual machines.
Core system vendors like Guidewire, and Majesco have announced new digital capabilities that could significantly change how insurance technology firms compete.
In second largest DeFi hack ever, Blockchain bridge loses $320M ether (unknown) Scammer steals $15K from Excluded Workers Fund (unknown). Financial information. Malicious insiders and miscellaneous incidents.
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