November 20, 2024 at 01:09PM Change Healthcare has restored its clearinghouse services after a February ransomware attack, affecting 94% of hospitals. Despite partial recovery, financial strain persists for providers, with over $6 billion loaned. CEO Andrew Witty faced Congress for the decision to pay a $22 million ransom. Security lapses were criticized as “egregious negligence.” … Read more
November 6, 2024 at 07:27AM Microchip Technology’s recent financial report highlights a $21.4 million expense linked to a ransomware attack. The company’s financial performance has been impacted by this cybersecurity incident, which is detailed in the report. **Meeting Takeaways:** 1. **Financial Impact**: Microchip Technology has reported expenses of $21.4 million related to a recent ransomware … Read more
August 20, 2024 at 11:22AM Unicoin’s Google Workspace was hacked, with the hacker changing passwords for all employees, locking them out for four days. The company reported the incident to SEC, stating that the threat actor accessed and manipulated confidential information, including personal data discrepancies, compromised communications, and identity forgery. Unicoin believes the event won’t … Read more
August 15, 2024 at 08:14AM Cybersecurity leaders need to navigate the SEC’s cybersecurity disclosure regulations carefully. The SEC’s guidance offers a starting point for CISOs to determine materiality, suggesting a 0.01% revenue loss threshold. This quantitative framework, combined with qualitative impacts, can aid in making informed disclosure decisions, ensuring compliance and transparency. From the meeting … Read more