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Ransomware Attack Calls for Tougher Cybersecurity

Experts encourage companies and consumers to strengthen their tech security skills.

In what now seems like a foreboding example of premonition, Kansas Commissioner of Insurance Ken Selzer last Thursday released a shortlist of tips that his office intended to help individuals and businesses protect themselves against identity theft or a cyber attack.

"It is important that cyber vigilance begins at home," Selzer said in his May 11 statement. "Knowing some common-sense precautions can keep you and your personal information safer."

Roughly one in four people "have no idea" what to do if their computer or device is targeted by ransomware. (Photo: iStock)

Roughly one in four people "have no idea" what to do if their computer or device is targeted by ransomware. (Photo: iStock)


Widespread vulnerability

"In the US alone, 63% of firms reported experiencing a cyber incident in the past year, and 47% said they had two or more," said Dan Burke, cyber and technology product head at Hiscox USA. The Hiscox Cyber Readiness Report 2017 surveyed more than 3,000 businesses in the U.S., United Kingdom and Germany on their cyber preparedness. Researchers concluded that last year alone, cyber crime cost the global economy $450 billion.

Insurance and financial services are especially vulnerable to cyber attacks. (Photo: iStock)

Insurance and financial services are especially vulnerable to cyber attacks. (Photo: iStock)

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