As Russian forces step up their invasion of Ukraine, U.S. officials are now struggling to keep the country from sliding into a deeper crisis. Russia’s military is now encroaching on Ukraine’s wheat fields, which could threaten the country’s harvest and supplies to several countries across the world.
Although “Acts of War” are often excluded from insurance policies, cyberwarfare typically exists in a different realm. Even though several insurers have declared cyber attacks by state-sponsored actors as acts of war, a recent court ruling found an insurer liable for losses stemming from the 2017 NotPetya malware attack against pharmaceutical giant Merck & Co. In the landmark decision, Merck & Co was awarded $1.4 billion by the New Jersey court.
Toyota suspended all its domestic factories on Tuesday following a cyber-attack that affected the supplier of plastic parts, Kojima Industries Corporation. “Due to a system failure at a domestic supplier (KOJIMA INDUSTRIES CORPORATION), we have decided to suspend the operation of 28 lines at 14 plants in Japan on Tuesday, March 1 (both 1st and 2nd shifts).
Russia inflicted way more destruction on Ukraine than what made the headlines. As Russia continued to invade Ukraine, it simultaneously launched a series of cyberattacks against the country, and the initial targets were Ukrainian banks and government agencies. The newer sanctions by the U.S. and other NATO nations have not been successful in preventing Putin from continuing his invasion.
Several current information security techniques continue to be ineffective in addressing organizations’ most critical threats. Here, the failure to secure supply chains is among the leading causes of cybercrimes. There was an unprecedented surge in the number of cyber-attacks targeting critical infrastructure and supply chains in 2021. Experts believe these attacks are only going to grow more prominent in 2022.
Due to the rise of technology and the digital transformation that occurred before and after COVID-19 hit the world, many CPA firms have been faced with increasing levels of cybersecurity threats. There were also some noteworthy cybersecurity incidents. One significant example was the data breach of the public accounting firm, Gustafson & Company.
Welcome to this week’s Weekly News roundup. Here we present the latest news and updates in the world of cybersecurity. Farm owners should take note of the warning signs and avoid making the systems too insecure. Many of the farms’ computers were designed for consumer use and did not have business settings.
Modern technology has dramatically impacted the operations of agribusinesses. For many rural businesses and farms, one of the primary challenges of adopting technology is cybersecurity. Even now, for several industries and sectors, the concept of cybersecurity is an afterthought.
Welcome to this week’s Weekly News roundup. Here we present the latest news and updates in the world of cybersecurity. This week we have a special focus on cybersecurity in the agriculture sector and the Thanksgiving holidays.
In our earlier columns, we explained that the agriculture sector has lately become one of the hot favorites for hackers. A more recent example is the attack on a dairy processing company in Green Bay. Malicious actors held their data hostage for $2.5 million, halting their business operations for three days.