Preliminary findings from a US investigation into the Marriott International breach last month point to hackers for the Chinese state as the culprits, people familiar with the matter say. The hack was likely driven by China's push to expand its massive databases on US and other citizens, the sources say.
Children's advocacy group Save the Children was bilked of $1M in a cyberattack last year that was eventually traced to Japan. Insurance covered most of the losses, and the charity has since adopted more stringent cybersecurity measures to protect itself from attacks.
The cyberinsurance market is growing, with about 30% of companies having some type of coverage, said Sasha Romanosky of RAND Corp. But Sam Friedman of Deloitte said determining a company's level of cyberrisk can be difficult because "it is a moving target" and "is like bioterrorism because it could happen to anyone at any time."
It is becoming increasingly difficult to recognize cybercriminals, says one expert who stopped several potentially damaging hacks after he'd initially failed to recognize the cybersecurity risks. Because cyberhackers are using more sophisticated means of accessing both company and personal computer systems, more people are finding themselves the victims of hacks, and this year, 17 million Americans have lost $18 billion to hackers.
Hong Kong companies and residents have lost more than $250 million in more than 9,000 cyberattacks this year, making the city one of the prime global targets for hackers, a new report states. Experts say that Hong Kong's lack of investment in cybersecurity is one of the reasons the city has been so vulnerable, especially to scams involving financial transactions.
The Defense Department will engage certified contractors to help it assess thousands of systems under the Strategic Cybersecurity Program. The program was created as part of 2018 defense policy legislation.