Image: CommonSpirit

CommonSpirit Details Financial Fallout of $160M Cyberattack

Marianne Kolbasuk McGee • September 25, 2023

Chicago-based CommonSpirit is still waiting to hear back on its insurance claim for an October 2022 ransomware attack, but the hospital chain said disruption of some facilities and "significantly" hampered billing and collection activities contributed to a $1.4 billion operating loss for the year.

Cybercrime

US Senator Seeks Input on Ways to Protect Patient Privacy

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Artificial Intelligence & Machine Learning

London Cybersecurity Summit Spotlights AI and Ransomware

Pooja Tikekar • September 26, 2023

Information Security Media Group recently concluded its Cybersecurity Summit: London, which brought together industry leaders for a day of informative sessions covering a diverse range of critical cybersecurity topics, including CISOs' vulnerability to liability, ransomware threats and burnout.

Privileged Access Management

CyberArk, BeyondTrust, Delinea Dominate Gartner MQ for PAM

Michael Novinson • September 25, 2023

CyberArk, BeyondTrust and Delinea maintained their spots atop Gartner's privileged access management Magic Quadrant, while One Identity, Wallix and Arcon fell from the leader ranks. Over the past half-decade, PAM has gone from being required for large companies to being an insurance prerequisite.

Artificial Intelligence & Machine Learning

Governor at Fed Cautiously Optimistic About Generative AI

Rashmi Ramesh • September 25, 2023

Federal Reserve Board Governor Lisa D. Cook is cautiously optimistic about the impact of generative AI on jobs and productivity but urged the industry to address the "very real concerns." While she sees "broad benefits from its use, in the short term, she said, AI could disrupt the labor market.

Open XDR

How to Overcome Practitioner Concerns Over Cisco-Splunk Deal

Michael Novinson • September 25, 2023

Security practitioners are skeptical of Cisco's proposed $28 billion Splunk purchase given the networking giant's track record around funding and investing in previous acquisition targets. Forrester's Allie Mellen expects some customers to try out other SIEM tools given Cisco's heritage in hardware.

Breach Notification

How Will SEC Rules Affect Reporting, Tracking of Incidents?

Anna Delaney • September 25, 2023

Under new U.S. Securities and Exchange Commission rules, companies must disclose material cybersecurity incidents and annually report on cybersecurity risk management, strategy and governance. Alex Hamerstone, advisory solutions director at TrustedSec, discussed the challenges ahead.

Cybercrime

Data Breach Toll Tied to Clop Group's MOVEit Attacks Surges

Mathew J. Schwartz • September 25, 2023

The count of organizations affected by the Clop ransomware group's most recent mass targeting of Progress Software's secure file transfer software doubled last week. National Student Clearinghouse warned that data tied to nearly 900 colleges and universities had been stolen from its MOVEit server.

Cloud Access Security Brokers (CASB)

Cato Networks Raises $238M on $3B Valuation to Move Upmarket

Michael Novinson • September 22, 2023

A late-stage SASE startup led by a serial entrepreneur hauled in a massive equity investment to address the feature and capability needs of large enterprises. The $238 million in funding will allow Cato Networks to more tightly align CASB and DLP with SASE to safeguard cloud apps and sensitive data.

Leadership & Executive Communication

Google CISO Phil Venables on Building Strong CIO-CISO Bonds

Michael Novinson • September 22, 2023

Increased engagement from boards on digital transformation initiatives around cloud and AI adoption has spurred greater investment in cybersecurity, said Google Cloud CISO Phil Venables. Systems built and designed decades ago have become increasingly difficult to secure, he said.

Cybercrime

Nation-State Actors Unleash Stealthy, LuaJIT-Based Malware

Jayant Chakravarti • September 22, 2023

SentinelOne observed suspected cyberespionage actors of unknown origin using modular backdoors and highly stealthy tactics in August to target telecommunication companies in the Middle East, Western Europe and South Asia. The group, tracked as Sandman, is using the novel backdoor LuaJIT.

Fraud Management & Cybercrime

Feds Warn About Snatch Ransomware

Prajeet Nair • September 21, 2023

The Snatch ransomware group is targeting a wide range of critical infrastructure sectors, including the defense industrial base, food and agriculture, and information technology sectors, according to a new alert issued by U.S. authorities. The group operates on a ransomware-as-a-service model.

Open XDR

Cisco to Bring XDR, SIEM Together With $28B Splunk Purchase

Michael Novinson • September 21, 2023

Cisco's proposed $28 billion buy of Splunk allows businesses to move from threat detection and response to threat prediction and prevention by combining XDR and SIEM. The deal brings together Cisco's newly released XDR platform with Splunk's long-standing SIEM technology.

Open XDR

Forecasts of SIEM Death Premature - Just Ask Cisco, Splunk

Michael Novinson • September 21, 2023

It turns out SIEM isn't on life support after all. Cisco is providing 28 billion reasons to believe enterprises aren't scrapping the security operations center staple anytime soon, even though rivals with other types of security technology have attempted to write SIEM's obituary for years.