While cyber threats vary, the most serious and persistent threat in 2023 was ransomware. The number of ransomware victims in 2023 surpassed 2021 and 2022 and, according to a report issued by cyber policy underwriter Corvus Insurance, [2] global ransomware attacks increased 95% from 2022. According to the Sophos State of Ransomware 2023 report, the average ransom payment was $1.54 million. On July 26, 2023, the SEC adopted new cybersecurity incident reporting rules for public companies subject to the reporting requirements of the Securities Exchange Act of 1934. In July 2023, DOJ announced that it was “super-charging” its criminal investigations into malicious cyber activity and the abuse of cryptocurrency.

Source: Wall Street Journal December 19, 2023 21:59 UTC