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☆ Wall Street’s facing an economic double-whammy this week
▼ + stars: | 2024-06-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

Despite the rare event, it’s unlikely the stock market will swing widely because of the economic two-fer, some investors say. Inflation showed signs of cooling in April after staying worryingly warm during the first quarter of this year. America’s rural hospitals keep getting attacked by cybercriminals. Microsoft said in a statement to CNN that it would provide free security updates for eligible rural hospitals, as well as security assessments and training for hospital staff. Google will provide free cybersecurity advice to rural hospitals and start a pilot program to match the firm’s cybersecurity services with the needs of rural hospitals.

Persons: Powell, ”, Dave Sekera, Alicia Wallace, Sean Lyngaas, Michelle Watson Organizations: CNN Business, Bell, New York CNN, Federal Reserve, CPI, Bank of America, Morningstar, Investors, Traders, Fed, UBS, Federal Reserve Bank of New, The, Consumer, cybercriminals, Microsoft, Google, White, CNN, White House National Security Council Locations: New York, pare, Federal Reserve Bank of New York, York, United States

☆ Rural hospitals keep getting attacked by cybercriminals. Microsoft and Google are working to fix that
▼ + stars: | 2024-06-10 | by ( Sean Lyngaas | Michelle Watson | ) edition.cnn.com time to read: +4 min

CNN —Microsoft and Google will offer free or discounted cybersecurity services to rural hospitals across the United States to make them less vulnerable to cyberattacks that have disrupted patient care and threatened lives, the White House and Microsoft said Monday. Microsoft said in a statement to CNN that it would provide free security updates for eligible rural hospitals, as well as security assessments and training for hospital staff. Google will provide free cybersecurity advice to rural hospitals and start a pilot program to match the firm’s cybersecurity services with the needs of rural hospitals, Anne Neuberger, the top cyber official at the White House National Security Council, told reporters on Sunday. The nation’s roughly 1,800 rural community hospitals are among the most vulnerable to dangerous ransomware attacks because they often lack IT security resources and cybersecurity-trained staff. “We do see a much more permissive environment in Russia by both hacktivists and criminals, and it’s of concern,” Neuberger, the White House official, told reporters.

Persons: Anne Neuberger, Biden, “, ” Neuberger, ” Cleveland, Justin Bibb’s, Cleveland, Bibb’s Organizations: CNN, Microsoft, Google, White House, White House National Security Council, Sunday, American Hospital Association, National Intelligence, UnitedHealth, FBI, Department of Public Safety, Department of Public Utilities Locations: United States, Russia, City, Cleveland

☆ Senators demand UnitedHealth own patient data hack
▼ + stars: | 2024-06-07 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +4 min

Federal law known as the Health Information Portability and Accountability Act (HIPAA) generally requires health care providers to notify people within 60 days of discovering a breach affecting their personal health data. The Department of Health and Human Services is already investigating whether UnitedHealth is compliant with HIPAA obligations to protect patient data. HHS can use HIPAA to fine companies for failing to protect patient data. The department announced a $4.75 million settlement in February with a nonprofit hospital system in New York for “data security failures” that the department said resulted in an employee stealing and selling patient data. On May 31, the HHS Office for Civil Rights clarified that health care providers can delegate that obligation to Change Healthcare.

Persons: Andrew, New Hampshire Democratic Sen, Maggie Hassan, Tennessee Republican Sen, Marsha Blackburn, ”, Eric Hausman, Hassan, Blackburn, Sen, Ron Wyden, UnitedHealth’s Organizations: Washington CNN, UnitedHealth, New, New Hampshire Democratic, Tennessee Republican, of Health, Human Services, CNN, HHS, Healthcare, Civil Rights, American Hospital Association, Optum, Capitol, Senate, Oregon Democrat, Federal Trade Commission, Securities and Exchange Commission, SEC Locations: New Hampshire, Tennessee, New York, Wyden

☆ London Hospitals Face Major Disruptions After Cyberattack
▼ + stars: | 2024-06-05 | by ( Jenny Gross | ) www.nytimes.com time to read: +1 min

Several major hospitals in London have been crippled by a cyberattack, Britain’s National Health Service said, causing surgical procedures to be canceled, disrupting blood transfusions and forcing patients to be diverted. A ransomware cyberattack on Synnovis, an organization that manages blood transfusions and other services, on Monday had significantly disrupted the delivery of services at King’s College and Guy’s and St. Thomas’ hospital trusts, which run several major hospitals. The attack has also caused disruptions to primary care offices in southeast London. Mark Dollar, the chief executive of Synnovis, said on Tuesday that the company was working to understand the impact of the attack on its pathology services and to minimize disruption. “It is still early days and we are trying to understand exactly what has happened,” he said in a statement.

Persons: Thomas ’, Mark Dollar, ” Organizations: National Health Service, King’s College, Guy’s Locations: London, St

☆ Chinese spies are targeting disgruntled workers within U.S. corporations, warns national counterintelligence head Michael Casey
▼ + stars: | 2024-06-04 | by ( Susan Caminiti | ) www.cnbc.com time to read: +3 min

Casey said there has been a 100% increase in cyber incidents and ransomware demands across the board. These are people within organizations that can be recruited to steal IP, data, or whatever the bad actor is targeting. "These are the employees who are having money problems, marital problems that someone can take advantage of," Casey said. "The PRC is an authoritarian state and there should be no confusion between that and Chinese Americans and people of Chinese descent," Casey said. "Leaders need to know what they would do if the worst thing happens," Casey said.

Persons: Michael Casey, Michael C, Casey, Eamon Javers, I'm Organizations: Intelligence, Capitol, National Counterintelligence and Security Center, CNBC, Summit, Washington , D.C, CNBC Senior Washington, FBI Locations: Washington ,, U.S, China, Russia

CNN —A cyberattack on a contractor to England’s National Health Service has forced several major hospitals in London to cancel operations, blood tests and appointments and send patients elsewhere. King’s College Hospital, Guy’s and St Thomas’ have all been affected, as have numerous primary care providers in the UK capital, a spokesperson for the National Health Service (NHS) said Tuesday. The hospitals and providers affected are all partnered with Synnovis, a company that provides lab services to the NHS. Mark Dollar, the CEO of Synnovis, said the company was “incredibly sorry for the inconvenience and upset this is causing to patients, service users and anyone else affected. We are doing our best to minimize the impact and will stay in touch with local NHS services to keep people up to date with developments.”

Persons: Thomas ’, Oliver Dowson, Thomas ’ –, “, ”, Vanessa Welham, Ciaran Martin, ” Martin, Mark Dollar Organizations: CNN, National Health Service, King’s College Hospital, Synnovis, NHS, Royal, Guy’s, Gracefield, Cyber Security, Cyber Operations Locations: London, Guy’s, Royal Brompton, Streatham

☆ Warren Buffett is worried about potential for 'huge losses' in booming, but still tiny insurance market
▼ + stars: | 2024-05-31 | by ( Kevin Williams | ) www.cnbc.com time to read: +11 min

Cyber insurance has become "a very fashionable product," Jain said at the annual meeting. Shokrai says categorizing how to attribute an event is the topic of much debate between insurance companies. "That is a big debate between insurance companies; it is an important distinction that needs clarity," Shokrai said. "I will tell you that most people want to be in anything that's fashionable when they write insurance. "Probably Warren Buffet would have called cybersecurity insurance an opportunity when he was younger," he said.

Persons: Buffett, Glombicki, Gerald Glombicki, Fitch, Berkshire Hathaway, Chubb, Jain, it's, Warren Buffett, Ajit Jain, Michael Chertoff —, Mark Friedlander, Friedlander, " Friedlander, Monica Shokrai, Warren Buffet, Shokrai, isn't, Josephine Wolff, Steve Griffin, they'll, They're, Charlie, Munger, Griffin, Warren Organizations: Industry, AIG, Berkshire Hathaway's, Berkshire, Homeland Security, Insurance, Google, The Fletcher School, Tufts University, L3 Networks Locations: Fitch Rating's, Berkshire, Omaha, California, . Berkshire

☆ ‘It’s putting patients’ lives in danger’: Nurses say ransomware attack is stressing hospital operations
▼ + stars: | 2024-05-29 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +9 min

“It’s putting patients’ lives in danger,” said a nurse who works at Ascension Providence Rochester Hospital, a 290-bed facility about 25 miles north of downtown Detroit. The health care sector reported 249 ransomware attacks to the FBI last year, more than any other sector, with some cases affecting patient records. And, perhaps more than any other sector, health care firms hold an enormous volume of sensitive data that is ripe for targeting and extortion schemes. The hack cut off health care providers from billions of dollars of revenue and snarled service at pharmacies across the US. (She said her firm had no specific insights into the Change Healthcare or Ascension ransomware attacks.)

Persons: cyberattack, “, ”, cybercriminals, Mac Walker, Walker, ” Walker, Ascension’s, Ascension, Dina Carlisle, “ There’s, Andrew, ” Sezaneh Seymour, ” Bryan Vorndran, Vorndran Organizations: CNN, Ascension Providence Rochester Hospital, “, FBI, Biden, White House, Department of Health, Services, OPEIU, University of Minnesota School of Public Health, Change Healthcare, UnitedHealth, Healthcare Locations: Detroit, Birmingham , Alabama, St, Louis, Rochester , Michigan, ” OPEIU

☆ Ransomware Group Claims Responsibility for Christie’s Hack
▼ + stars: | 2024-05-27 | by ( Zachary Small | ) www.nytimes.com time to read: +1 min

In a post on the dark web on Monday, the group claimed that it had gained access to sensitive information about the world’s wealthiest art collectors, posting only a few examples of names and birthdays. It was not immediately possible to verify RansomHub’s claims, but several cybersecurity experts said they were a known ransomware operation and that the claim was plausible. Nor was it clear if the hackers had gained access to more sensitive information, including financial data and client addresses. The group said it would release the data, posting a countdown timer that would reach zero by the end of May. “We attempted to come to a reasonable resolution with them but they ceased communication midway through,” the hackers wrote in their dark web post, which was reviewed by a New York Times reporter.

Persons: Edward Lewine, “, Christie’s, ” Organizations: New York Times Locations: Christie’s, GDPR

☆ A Microsoft under attack from government and tech rivals after 'preventable' hack ties executive pay to cyberthreats
▼ + stars: | 2024-05-22 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +13 min

The decision by Microsoft to link executive compensation to successful cybersecurity performance is another is prompting discussions at other firms. One change the tech giant is making in response: linking executive compensation more closely to cybersecurity. In recent years, many Fortune 500 companies, including Apple, have added bonus pay tied to ESG metrics. The conversations about cybersecurity-linked executive pay have started taking place at other companies since Microsoft made its move, according to Aalap Shah, managing director at executive compensation consultant Pearl Meyer. Madnick's research shows that gaps in corporate culture are often culprits in high-profile hacks, not just the Microsoft example.

Persons: Brad Smith, Charlie Bell, Aalap Shah, Pearl Meyer, It's, I've, Shah, —, Stuart Madnick, Madnick, Ryan Kalember, unavoidability, Jen, Kalember, ransomware, Mike Doonan, Doonan Organizations: Microsoft, U.S, Hill, Google, U.S . Department of Homeland, Initiative, Microsoft Security, Team, Companies, Fortune, Apple, MIT, Infrastructure Security Agency, CNBC, Technology, State Department Locations: China, Russia, cybersecurity, U.S

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Dell, Tesla, Disney, Gap, Hewlett Packard & more
▼ + stars: | 2024-05-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are the biggest calls on Wall Street on Tuesday: Morgan Stanley reiterates Tesla as overweight Morgan Stanley made the case in a note to investors that Elon Musk needs Tesla "more than ever before." Citi initiates Ferrovial at buy Citi said it's bullish on shares of the Dutch infrastructure and transportation company. Citi reiterates Dell as buy Citi raised its price target on the stock by 36% to $170 per share from $125. Morgan Stanley reiterates Apple as overweight Morgan Stanley said its checks show accelerating App Store growth ahead of expectations for Apple. Morgan Stanley names Taiwan Semiconductor a catalyst-driven idea Morgan Stanley said TSM is a likely beneficiary of a solid Nvidia earnings report on Wednesday.

Persons: Morgan Stanley, Tesla, Elon, Raymond James, Baird, it's, Evercore, Piper Sandler downgrades Sunnova, Piper, Brinker, Argus, Apple, TSM, NVDA, it's bullish, Lenz, LENZ Organizations: Elon, Caesars Entertainment, Penn, Penn Entertainment, Boyd Gaming Corporation, Inc, PENN Entertainment, JPMorgan, Therapeutics, Citi, Nvidia, Sunnova, Disney, Dell, Barclays, HP, Brinker International Inc, Apple, Taiwan Semiconductor, Gap Citi, GPS, " Bank of America, Lenz Therapeutics, Bank of America, Deutsche Bank, Deutsche, Recovery Software

☆ Family offices become prime targets for cyber hacks and ransomware
▼ + stars: | 2024-05-21 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

A quarter of family offices surveyed reported suffering a cyberattack in 2023, up from 17% in 2020. With their large wealth and small staffs, family offices have become lucrative targets for hackers and cybercriminals, experts say. Since family offices value efficiency and speed over risk management, he said, today's family offices often don't have adequate technology and planning in place for possible cyberattacks. Less than a third of family offices say their cyber risk management processes are well-developed, according to the survey. Marshall said family offices need to take a more proactive stance on overall assessment that goes beyond cyberattacks.

Persons: Robert Frank, Willie Sutton, Edward Marshall, Marshall, cyberattacks Organizations: Wharton, Family Alliance Locations: cybercriminals, EY U.S, cyberattacks

☆ Biden’s tariffs on Chinese imports are boosting these beaten-down stocks
▼ + stars: | 2024-05-17 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Beaten-down clean energy stocks have rallied this week. The iShares Global Clean Energy exchange-traded fund, which tracks sectors from renewable electricity to semiconductors to solar energy, has gained roughly 3%. Plug Power shares have climbed 33%, Enphase Energy shares have gained 8% and NextEra Energy shares have added 4%. Some investors warn that though the tariffs could continue boosting clean energy stocks, the recent rally isn’t driven by just improving fundamentals. Damaging hacks expose the weak underbelly of America’s health care systemA pair of recent ransomware attacks crippled computer systems at two major American health care firms, disrupting patient care and exposing fundamental weaknesses in the US health care system’s defenses against hackers, reports my colleague Sean Lyngaas.

Persons: New York CNN — It’s, Joe Biden, CNN’s Kayla Tausche, ”, Steve Sosnick, Roaring Kitty, Keith Gill, Dow, Nicole Goodkind, stoking, Gary Pzegeo, ” Read, Sean Lyngaas, cybersecurity, ” Joshua Corman, Sen, Ron Wyden Organizations: CNN Business, Bell, New York CNN, Clean Energy, Enphase Energy, NextEra Energy, Biden, Federal Reserve, Interactive Brokers, CNN, GameStop, AMC Entertainment, Roaring, Dow Jones Industrial, Nasdaq, Markets, Bureau of Labor Statistics, CIBC Private Wealth, “ Industry, Oregon Democrat Locations: New York, China

☆ Damaging hacks expose the weak underbelly of America’s health care system
▼ + stars: | 2024-05-16 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +6 min

Washington CNN —A pair of recent ransomware attacks crippled computer systems at two major American health care firms, disrupting patient care and exposing fundamental weaknesses in the US health care system’s defenses against hackers. Health care lags other industries such as big financial institutions and energy providers when it comes to IT security, according to some experts. The two ransomware attacks hit different nerves of the health care system. Momentum is also growing on Capitol Hill to force health care organizations to meet basic cybersecurity standards. More broadly, the Justice Department last week announced a task force to examine “health care monopolies and collusion” that will guide the department’s approach to “civil and criminal enforcement in health care markets,” where warranted.

Persons: cybersecurity, ” Joshua Corman, Sen, Ron Wyden, ”, cybercriminals, Biden, Anne Neuberger, Mark Warner, ” Carter Groome, Corman, ‘, ” Sen, Marsha Blackburn, Andrew Organizations: Washington CNN, Biden, “ Industry, CNN, Oregon Democrat, ransomware, Change Healthcare, White House, American Hospital Association, Department of Health, Human Services, Virginia Democrat, Healthcare, cybersecurity, Health, Cavalry, UnitedHealth, Optum, Tennessee Republican, Justice Department, UnitedHealth Group, Wall Street, Department Locations: St, Louis, United States, Virginia, Tennessee

☆ Hackers are now targeting the children of corporate executives in elaborate ransomware attacks
▼ + stars: | 2024-05-12 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +1 min

Ransomware attackers are targeting children's phones to extort big companies. As companies improve defenses, attackers are becoming more creative, security experts say. AdvertisementIt's 10 p.m., do you know where your children's phones are? Hackers are even going so far as to target the children of corporate executives in the hopes of holding personal information ransom — an attack known as ransomware. This story is available exclusively to Business Insider subscribers.

Persons: Charles Carmakal, —, Mandiant Organizations: Service, Google, Business

☆ Cyberattack forces major US health care network to divert ambulances from hospitals
▼ + stars: | 2024-05-10 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +2 min

CNN —A major US health care system said Thursday that it is diverting ambulances from “several” of its hospitals following a cyberattack this week. The sprawling health care network, which also owns 40 senior living facilities, said that it would be using “downtime procedure for some time,” because of the cyberattack. It was not clear how many Ascension hospitals were sending ambulances to other locations because of the cyberattack. It’s only the latest major hacking incident that has hobbled a big US health care network and sent US officials scrambling to offer support. A February ransomware attack on Change Healthcare, a subsidiary of health care giant UnitedHealth Group, caused billing disruptions at pharmacies across the US and threatened to put some health providers out of business.

Persons: Ascension, cybercriminals, Mandiant, ” Ascension, Andrew, UnitedHealth Organizations: CNN, US, Healthcare, UnitedHealth Locations: St, Louis

☆ Treasury launches ‘Project Fortress,’ an alliance with banks against hackers
▼ + stars: | 2024-05-09 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

The new public-private partnership, dubbed Project Fortress, underscores the real danger US officials and bank executives believe cyberattacks pose to the economy. But Project Fortress is not just about playing defense. Project Fortress has been in the works for several months, with Treasury rolling out various parts of the alliance in pieces, the source said. One of the key elements of Project Fortress is the cyber hygiene tool run by the Cybersecurity and Infrastructure Security Agency (CISA). The federal government has recently flexed its offensive capabilities, including ones that are part of Project Fortress.

Persons: Wally Adeyemo, Janet Yellen, Adeyemo, Jamie Dimon, Brian Moynihan, Jane Fraser, Robin Vince, ” Vince, Vince, Jerome Powell, ” Adeyemo, Sean Lyngaas Organizations: New, New York CNN, Treasury, CNN, Bank Policy, JPMorgan Chase, Bank of America, Citigroup, BNY, Washington, Industrial, Commercial Bank of China, Infrastructure Security Agency, JPMorgan Locations: New York, Washington

☆ Cyberattack disrupts operations at major US health care network
▼ + stars: | 2024-05-08 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +1 min

CNN —A cyberattack has disrupted “clinical operations” at major health care nonprofit Ascension, forcing it to take steps to minimize any impact to patient care, an Ascension spokesperson told CNN on Wednesday. Ascension recommended that its health care clients temporarily cut off network connections to Ascension as the incident is being addressed, according to the statement. Ascension has “initiated procedures to ensure patient care delivery continues to be safe and as minimally impacted as possible,” the spokesperson said. Health care providers across the US have suffered numerous ransomware attacks in recent years, some of which have disrupted patient care and cost health providers millions, if not billions, of dollars. A February ransomware attack on a subsidiary of health care giant UnitedHealth Group caused billing disruptions at pharmacies across the US and threatened to put some health providers out of business.

Persons: ”, Ascension Organizations: CNN

☆ Russian charged with LockBit ransomware crimes — $10 million reward for his arrest
▼ + stars: | 2024-05-07 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Federal prosecutors on Tuesday announced criminal charges against a Russian national, Dimitry Yuryevich Khoroshev, for allegedly creating, developing, and administrating the LockBit ransomware-as-service group. The U.S. State Department at the same time offered a $10 million reward for information leading to the apprehension and arrest of Khoroshev, a 31-year-old from Voronezh, Russia. The Treasury Department also imposed sanctions on Khoroshev, blocking all property and interests he holds in the United States or are in the possession of Americans. Khoroshev, who also is known as LockBitSupp, LockBit, and putinkrab, was charged in a 26-count indictment in U.S. District Court in New Jersey, which accuses him of personally pocketing at least $100 million from victims of the group. He typically received 20% of each ransom payment, authorities said.

Persons: Dimitry Yuryevich Khoroshev, Khoroshev, LockBit's, pocketing Organizations: U.S . State Department, Treasury Department, The, Justice, DOJ Locations: Russian, Voronezh, Russia, United States, U.S, New Jersey

☆ RSA CEO Rohit Ghai says emergent 5G technology increases the need to protect critical networks
▼ + stars: | 2024-05-06 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +7 min

Emergent 5G technology is faster and more secure than ever. "There's a huge amount of intellectual property and corporate data that sits on mobile devices," Ghai said. 5G networks are very, very dynamic. The other change is using identity and access governance to make sure privileged access to IT and OT [operational technology] networks is managed. That same pattern follows in 5G networks.

Persons: Rohit Ghai, Ghai, —, It's Organizations: Service, RSA, Infrastructure Security, 5G Locations: San Francisco, cybersecurity

☆ U.S. intelligence chief warns Congress of rise in cyberattacks
▼ + stars: | 2024-05-02 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +2 min

Director of National Intelligence Avril Haines testifies before the Senate Armed Services Committee May 2, 2024 in Washington, DC. The top U.S. intelligence official warned Congress of an alarming rise in cyberattacks at a hearing on global threats Thursday. Director of National Intelligence Avril Haines said the number of ransomware attacks worldwide grew as much as 74% in 2023. The comments from Haines come as various companies, such as UnitedHealth Group , MGM Resorts and Clorox , have been disrupted by cyberattacks in the past year. In 2023, cyberattacks also temporarily shut down MGM's hotel booking system and disrupted production at Clorox.

Persons: National Intelligence Avril Haines, Haines, Sen, Angus King, cyberattacks, They've, That's, King, Andrew Organizations: National Intelligence, Senate Armed Services, UnitedHealth, MGM Resorts, Clorox, cyberattacks, Senate Armed Services Committee, U.S, Healthcare Locations: Washington ,, cyberattacks, U.S, East, Maine, China, Russia, Clorox

☆ UnitedHealth CEO tells lawmakers the company paid hackers a $22 million ransom
▼ + stars: | 2024-05-01 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +5 min

Change Healthcare provides payment, revenue management and other solutions like e-prescription software. UnitedHealth told CNBC in April that it paid a ransom to try and protect patient data. Its business unit Optum — which provides care to 103 million customers — and Change Healthcare — which touches one in three patient records — merged in 2022. Committee Chairman Sen. Ron Wyden, D-Ore., said in his opening remarks that the Change Healthcare breach serves as a "dire warning about the consequences of too-big-to-fail mega-corporations." Sen. Michael Bennet, D-Colo., pressed Witty to share how UnitedHealth is working to ensure something like the Change Healthcare breach will not happen again.

Persons: Andrew, UnitedHealth, Sen, Ron Wyden, Wyden, Thom Tillis, they're, Tillis, Blackcat, Michael Bennet Organizations: Senate, Capitol, U.S ., Finance, UnitedHealth, Healthcare, CNBC, U.S . Securities, Exchange Commission, U.S . Department of Justice Locations: Washington , DC

☆ UnitedHealth CEO estimates one-third of Americans could be impacted by Change Healthcare cyberattack
▼ + stars: | 2024-05-01 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

UnitedHealth Group CEO Andrew Witty on Wednesday told lawmakers that data from an estimated one-third of Americans could have been compromised in the cyberattack on its subsidiary Change Healthcare, and that the company paid a $22 million ransom to hackers. Witty testified in front of the Subcommittee on Oversight and Investigations, which falls under the House of Representatives' Committee on Energy and Commerce. UnitedHealth has previously said the cyberattack likely impacts a "substantial proportion of people in America," according to an April release. UnitedHealth disclosed that a cyberthreat actor breached part of Change Healthcare's information technology network late in February. Witty told both committees Wednesday that UnitedHealth now has MFA in place across all external-facing systems.

Persons: Andrew, UnitedHealth Organizations: UnitedHealth, Healthcare, Representatives, Energy, Commerce, U.S ., Finance Locations: America, bitcoin

☆ Biden replaces Obama-era infrastructure protections to defend against Chinese cyberthreats
▼ + stars: | 2024-04-30 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Biden's new policy is largely a rewrite of the Obama administration's rule to safeguard U.S. critical infrastructure called the Presidential Policy Directive, or PPD-21, which was published in 2013. The effort to redraft that Obama-era infrastructure policy began over a year ago, in part to modernize it and keep up with hackers who have benefited from over a decade of technological advancement. The Biden administration has warned China not to help Russia in its invasion of Ukraine, or else the U.S. would be ready to act with sanctions. "We're aware now of the serious Chinese threat to our critical infrastructure, specifically prepositioning to disrupt or destroy critical infrastructure in the event of a major crisis," a senior administration official said. "The presidential policy directive that was created in 2013 didn't mention anything about CISA's role because we weren't created yet," a senior administration official said.

Persons: Joe Biden, Obama, cyberattacks, Christopher Wray, congressmembers, Wray, Biden's, Biden Organizations: White, Washington , D.C, Directive, FBI, Taiwan, of Homeland Security, Infrastructure Security Agency Locations: Washington ,, China, Russia, Ukraine, U.S, Taiwan

☆ Rubrik CEO: We've transformed the backup and recovery industry into a data security platform
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRubrik CEO: We've transformed the backup and recovery industry into a data security platformBipul Sinha, Rubrik co-founder, chairman and CEO, joins 'Squawk on the Street' to discuss how the company grows from the recent spate of ransomware attacks, what investors should expect from Rubrik's growth profile, and more.

Persons: We've, Sinha, Rubrik

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