Beazley highlights that, as it expected, ransomware attacks continued to rise in H1 2017, up 50% YoY. Hacking and malware attacks (including ransomware) remained the leading cause of breaches at 32%. However, accidental breaches by employees/third party suppliers remains high at 30%, implying that despite GDPR looming, many firms have yet to implement tighter security/processes, thus potentially risking major fines. Ironically, GDPR fines would likely trigger increased demand for cyber insura
09 Aug 2017
Ransomware attacks rise
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Ransomware attacks rise
Beazley Plc (BEZ:LON) | 658 -56 (-1.3%) | Mkt Cap: 4,401m
- Published:
09 Aug 2017 -
Author:
Joanna Parsons -
Pages:
2
Beazley highlights that, as it expected, ransomware attacks continued to rise in H1 2017, up 50% YoY. Hacking and malware attacks (including ransomware) remained the leading cause of breaches at 32%. However, accidental breaches by employees/third party suppliers remains high at 30%, implying that despite GDPR looming, many firms have yet to implement tighter security/processes, thus potentially risking major fines. Ironically, GDPR fines would likely trigger increased demand for cyber insura