As technology progresses, so do manipulation tactics. Enter deepfakes. This rising threat uses digitally altered images, videos, and audio recordings to convincingly fabricate reality, making it difficult to distinguish fact from fiction. The rise of deepfake technology has significant implications for privacy, security, and trust, affecting everything from financials and personal reputations to national security. At the core of deepfakes is a technique called Generative Adversarial Networks (GANs), where two neural networks—one generating content and the other evaluating it—work together to create increasingly convincing fakes. What Are Deepfakes? Deepfakes are…
Read MoreAuthor: David Derigiotis
Ransomware: To Pay or Not to Pay
When one threat actor group is taken down another one appears in its place ready to devastate organizations. The number one cyber threat? Ransomware. By 2031, ransomware will cost victims an annual total of $265 billion. Until recently, the largest ransomware payment was $40 million by CNA Financial to regain control of their systems. Now, Dark Angels—one of the top cyber threat groups to watch—broke the record for the largest ransomware payment by almost double the largest payment at $75 million. With ransomware attacks increasing and becoming more costly, the…
Read MoreCasino Cyber Siege: How MGM and Caesars Attacks Highlight the Power of Cyber Insurance
In late 2023, two of the most iconic names in the hospitality industry—MGM Resorts and Caesars Entertainment—fell victim to significant cyberattacks. These breaches underscore the growing threat of cybercrime and highlight a dramatic shift in the digital battleground. Beyond a simple wake-up call for cybersecurity measures, these incidents showcase the pivotal role of cyber insurance in mitigating financial and operational damages and providing a lifeline during the chaos of a cyber crisis. The Attacks: What Happened? MGM Resorts International Russian hacker group, ALPHV, infiltrated MGM’s systems with a crippling ransomware…
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