AGCS warns of pandemic driven by ransomware

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In a new Cyber Insights report, entitled ‘Ransomware trends: Risks and Resilience’ AGCS said

the increasing frequency and severity of ransomware incidents are driven by:

  • Growing number of different attack patterns, such as double and triple extortion campaigns;
  • Criminal business model around “ransomware as a service” and cryptocurrencies;
  • Recent skyrocketing of ransom demands; and
  • Rise of supply chain attacks.

Scott Sayce, global head of cyber at AGCS, said not all attacks are targeted as cyber criminals often adopt a scattergun approach to exploit those businesses that are not addressing or understanding the vulnerabilities they may

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Swiss Re enters collaboration with crash analytics provider

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Swiss Re and TNEDICCA, a provider of traffic-crash data and location risk analytics, have announced a strategic partnership. The partnership integrates TNEDICCA’s proprietary Location-Based Risk Score and its location risk data into Swiss Re’s Motor Market Analyzer (MMA) to allow insurance companies to more accurately assess and price auto risk.

“Our Location-Based Risk Score has been empirically proven to improve the profitability of auto insurance companies, with average loss ratio lift of 38%,” said Yiem Subhanich, co-founder and CEO of TNEDICCA. “Partnering with Swiss Re, the largest reinsurer in the world, is a milestone that reinforces the incremental value TNEDICCA

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Is there too much investment in payments?

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For more than a decade, the shift to e-commerce and mobile has brought huge amounts of investment into payments. As further fresh investment rounds are announced, PCM asks whether a bubble is forming, and asks what happens next.

According to KPMG’s FinTech Pulse survey, the payments sector led global fintech investment in 2020, even though overall investment levels were down from pre-pandemic highs. Last year, investors closed 404 deals that funnelled $19.7 billion into the sector — a sharp drop from the $105 billion absorbed by payments in 2019 across 422 deals. 

 

Nonetheless, the 2020 figure still represents an average

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