Tag Archives: years

Cyber crime insurance will be big in the next 5 years

JOHANNESBURG – Insurer Tryg expects 90% of its corporate customers to buy cyber crime insurance within five years as the threat from hackers and viruses to crucial data and IT systems grows.

Tryg, Denmark’s biggest insurer, has sold 5 000 cyber crime insurance policies since the turn of the year when it launched a new product providing assistance in restoring data and getting systems up and running if a firm is hit by a cyber attack.

“There are no corporate clients today that don’t have insurance on their buildings or cars, but I think that within a very few years it will be just as evident that you should insure against cyber crime,” chief executive Morten Hubbe said yesterday. 

“The initial rise in demand for cyber insurance was prompted by the ransomware attack, named “Wannacry”, that infected more than 300 000 computers worldwide in May.

He estimated that

Read more at: https://www.iol.co.za/business-report/cyber-crime-insurance-will-be-big-in-the-next-5-years-11499193

90% of clients will have cyber crime insurance within five years – insurer

90% of clients will have cyber crime insurance within five years  insurer
The growing threat from hackers and computer viruses will trigger a boom in cyber crime insurance, according to one insurer.

Tryg, Denmark’s largest insurer, said it expects 90% of its corporate customers to buy cyber crime coverage within five years. It’s already sold 5,000 cyber crime policies since the beginning of the year, when it launched a product to help businesses restore data and get systems running again after a cyber attack.

Celebrate excellence in insurance. Join us at the Insurance Business Awards in Chicago on October

Read more at: http://www.insurancebusinessmag.com/us/news/breaking-news/90-of-clients-will-have-cyber-crime-insurance-within-five-years--insurer-81037.aspx

90% of clients will have cyber crime insurance within five years …

90% of clients will have cyber crime insurance within five years  insurer
The growing threat from hackers and computer viruses will trigger a boom in cyber crime insurance, according to one insurer.

Tryg, Denmark’s largest insurer, said it expects 90% of its corporate customers to buy cyber crime coverage within five years. It’s already sold 5,000 cyber crime policies since the beginning of the year, when it launched a product to help businesses restore data and get systems running again after a cyber attack.

Celebrate excellence in insurance. Join us at the Insurance Business Awards in Chicago on October

Read more at: http://www.insurancebusinessmag.com/us/news/breaking-news/90-of-clients-will-have-cyber-crime-insurance-within-five-years--insurer-81037.aspx

Cyber Crime Costs Up 62 Per Cent Worldwide in Five Years – Which

Cybercrime is having a significant and growing financial impact on businesses worldwide.

According to a study by Accenture and the Ponemon Institute, in 2017 the average cost of cybercrime globally climbed to $11.7 million per organisation, a 23 per cent increase from $9.5 million reported in 2016, and represents a staggering 62 per cent increase in the last five years.


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In comparison, companies in the United States incurred the highest total average cost at $21.22 million while Germany experienced the most significant increase in total cybercrime costs from $7.84 million to $11.15 million.

This surge follows a recent string of infamous malware attacks including WannaCry and Petya, which cost several global firms hundreds of millions of dollars in lost revenues.

The “Cost of Cyber Crime Study” surveyed 2,182 security and IT professionals in 254 organisations worldwide and found that the number of cyberattacks has

Read more at: https://which-50.com/cyber-crime-costs-62-per-cent-worldwide-five-years/

Galloway’s K-12 cybersecurity initiative, 2 years later | St. Louis …

A cybersecurity initiative launched two years ago to protect public schools in Missouri from hackers is getting good marks from educators. 

It was launched in September 2015 by State Auditor Nicole Galloway and has become a permanent part of the auditor’s office’s practices.

Local education officials for the most part say it’s working, though attempts to hack into school records appear to be on the rise. C.J. Huff is an advisor for the Missouri Center for Education Safety, which is part of the state school board association. He says one thing they’re working on is limiting the number of employees that can access private information.

“You know, who has access to particular information that could be sensitive, and what’s the protocol for being able to access that information so it’s just not open to everybody, but having some checks and balances,” Huff said.

Galloway concurs, stating that many of the challenges they face center on personal

Read more at: http://news.stlpublicradio.org/post/galloways-k-12-cybersecurity-initiative-2-years-later

Galloway’s K-12 cybersecurity initiative, 2 years later

A cybersecurity initiative launched two years ago to protect public schools in Missouri from hackers is getting good marks from educators. 

It was launched in September 2015 by State Auditor Nicole Galloway and has become a permanent part of the auditor’s office’s practices.

Local education officials for the most part say it’s working, though attempts to hack into school records appear to be on the rise. C.J. Huff is an advisor for the Missouri Center for Education Safety, which is part of the state school board association. He says one thing they’re working on is limiting the number of employees that can access private information.

“You know, who has access to particular information that could be sensitive, and what’s the protocol for being able to access that information so it’s just not open to everybody, but having some checks and balances,” Huff said.

Galloway concurs, stating that many of the challenges they face center on personal

Read more at: http://news.stlpublicradio.org/post/galloways-k-12-cybersecurity-initiative-2-years-later

Man sentenced to 25 years in prison for child porn ‘sextortion’ – The Shippensburg News

Posted: Tuesday, September 12, 2017 6:00 am

Man sentenced to 25 years in prison for child porn ‘sextortion’


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Hubert Young, 45, of Basking Ridge, New Jersey, was recently sentenced to 25 years in prison by Senior U.S.

Read more at: http://www.shipnc.com/news/police/article_264749c0-9708-11e7-9fc7-e30e5f748454.html

N.J. man gets 25 years in prison for child porn ‘sextortion’ of kids | NJ …

BASKING RIDGE — A 45-year-old New Jersey man described as a “sextortionist” was sentenced to 25 years in federal prison Thursday for soliciting nude photos from at least a dozen youths he met on Facebook and then blackmailing them for more images.

Hubert Young, of Basking Ridge, posed as a teenager using fictitious Facebook accounts and persuaded kids to send him nude photos of themselves between January 2015 and June 2016. 

After they complied, he would threaten to post the photos on the internet unless they provided him additional images.

Young targeted at least 12 youths between the ages of 11 and 17 in Pennsylvania, New Jersey, Ohio and Indiana. He was charged and prosecuted in federal court in Pennsylvania.

Young had also sent a 12-year-old girl a picture of his genitals, according to a previous report.

Authorities were able to track Young down through an email address, the report said.

In addition to

Read more at: http://www.nj.com/somerset/index.ssf/2017/09/nj_man_gets_25_years_in_prison_for_sextortion_sche.html

NJ man gets 25 years in prison for child porn ‘sextortion’ of kids

BASKING RIDGE — A 45-year-old New Jersey man described as a “sextortionist” was sentenced to 25 years in federal prison Thursday for soliciting nude photos from at least a dozen youths he met on Facebook and then blackmailing them for more images.

Hubert Young, of Basking Ridge, posed as a teenager using fictitious Facebook accounts and persuaded kids to send him nude photos of themselves between January 2015 and June 2016. 

After they complied, he would threaten to post the photos on the internet unless they provided him additional images.

Young targeted at least 12 youths between the ages of 11 and 17 in Pennsylvania, New Jersey, Ohio and Indiana. He was charged and prosecuted in federal court in Pennsylvania.

Young had also sent a 12-year-old girl a picture of his genitals, according to a previous report.

Authorities were able to track Young down through an email address, the report said.

In addition to

Read more at: http://www.nj.com/somerset/index.ssf/2017/09/nj_man_gets_25_years_in_prison_for_sextortion_sche.html

Romanian thug jailed for four years after blackmailing Tyrone teen Ronan Hughes who later took his own life

A THUG has been jailed after blackmailing a schoolboy who later took his own life.

Romanian Iulian Enache, 31, tricked Irish teen Ronan Hughes into sharing naked images of himself online and then distributed them when the teenager failed to pay a ransom.

Tragic Irish teen Ronan Hughes

Tragic Irish teen Ronan Hughes

Ronan, 17, from Coalisland, Co Tyrone, took his own life in June 2015.

His heartbroken family thought his tormentor would never be caught.

But the PSNI’s specialist cyber crime unit traced the blackmailer to Romania and worked closely with police there to identify the suspect.

Enache was arrested in October last year in a joint operation between the PSNI and Romanian cops.

The vile criminal pleaded guilty last week in court in Timisoara, Romania, to charges of blackmail and producing or distributing indecent images of a child.

He was sentenced to four years in

Read more at: https://www.thesun.ie/news/1465888/romanian-thug-jailed-for-four-years-after-blackmailing-tyrone-teen-ronan-hughes-who-later-took-his-own-life/