Eight years ago, on March 1, 2017, the New York Department of Financial Services enacted its landmark cybersecurity regulation covering financial services companies, 23 NYCRR Part 500, known as “Part 500.” Part 500 was the first state regulation to enumerate, in great detail, the elements of a cybersecurity program that a covered financial service company […]
FCC Announces New National Security Unit Focusing on State-Sponsored Cyber Threats
On March 13, 2025, the Federal Communications Commission’s (“FCC”) Chairman Brendan Carr announced the creation of a Council on National Security (the “Council”) with Adam Chan serving as the Director. This new Council will be comprised of eight Bureaus and Offices within the FCC and will “leverage the full range of the Commission’s regulatory, investigatory, […]
Emergence of Medusa Ransomware
On March 12, 2025, the Cybersecurity and Infrastructure Security Agency (CISA), in collaboration with the Federal Bureau of Investigation (FBI) and the Multi-State Information Sharing and Analysis Center (MS-ISAC), issued a joint cybersecurity advisory on the growing threat of Medusa ransomware. First detected in June 2021, Medusa operates under a ransomware-as-a-service (RaaS) model, allowing affiliates […]
Ghost (Cring) Ransomware: Understanding The Threat & How Enterprises Can Defend Themselves
On February 19, 2025, the Cybersecurity and Infrastructure Security Agency (CISA), in collaboration with the Federal Bureau of Investigation (FBI) and the Multi-State Information Sharing and Analysis Center (MS-ISAC), issued a joint cybersecurity advisory on the growing threat of Ghost (Cring) ransomware. Active since early 2021, this ransomware group has targeted organizations in over 70 […]
Ransom Payments At A Historic Low According to Report
On February 4, 2025, Coveware, Inc. released its quarterly ransomware report for the fourth quarter of 2024, and identified that the percentage of victims paying ransoms fell to a historic low of 25%. While the average amount of a payment in Q4 2024 rose 16% quarter-over-quarter to $553,959, the median amount dropped a significant 45% […]