Companies Turn to Cyber Insurance as Global Threats Surge

The cost of a data breach can run as high as $4.54 million today, up from $3.86 million in 2020, according to an IBM study that says the fastest-growing — and costliest — type of cyberattack is ransomware. That’s why more companies are turning to cyber insurance to hedge their bets. Last year, the global market for such policies was estimated to be in the $13.33 billion range, and projected to reach $84.62 billion by 2030. Because the increased frequency of attacks has resulted in increased payouts, insurance providers now often require proof of adequate security measures. Continue reading Companies Turn to Cyber Insurance as Global Threats Surge

Facebook, Google, Wikipedia Take Steps to Fight Fake News

Leading Internet platforms have announced separate plans to combat fake news, hoaxes and the spread of misinformation. A security team at Facebook acknowledged the social media giant was used as a platform for misinformation during the 2016 U.S. presidential election, and has debuted new measures to mitigate the threat. Google is tweaking its search engine to prevent fake news and hoaxes from appearing in its top results. Wikipedia founder Jimmy Wales has his own plan to counter the spread of fake news via a new website. Continue reading Facebook, Google, Wikipedia Take Steps to Fight Fake News