cybercrime

Part 4: A very modern form of piracy: Cybercrime against the shipping industry – Readiness, Response, Recovery

Part 4: A very modern form of piracy: Cybercrime against the shipping industry – Readiness, Response, Recovery

This is the concluding article in a four-part series that has considered some of the key issues concerning the very serious threat that cybercrime poses to the shipping industry. The preceding three articles have considered the rapidly developing risks facing the industry as well as focussing on ransomware incidents and data protection issues.

This final article draws upon Clyde & Co’s...

https://allaboutshipping.co.uk/2021/05/05/part-4-a-very-modern-form-of-piracy-cybercrime-against-the-shipping-industry-readiness-response-recovery/

E-commerce’s rise drives up pressure on merchants to prevent fraud

Online payment fraud is expected to increase to more than $20 billion in 2021, according to a new report from Juniper Research. Fraud reached $17.5 billion in 2020.

The firm said e-commerce is making it easier for thieves to target consumers, especially as online sales grow at merchants that are unfamiliar, or lack the resources, to provide advanced security measures.

“From market data, it is clear that online payment is convenient and drives e-commerce. However, it has also created a playground...

https://www.freightwaves.com/news/e-commerces-rise-drives-up-pressure-on-merchants-to-prevent-fraud

Part 3: A very modern form of piracy: Cybercrime against the shipping industry – Data Protection

Part 3: A very modern form of piracy: Cybercrime against the shipping industry – Data Protection

 Clyde & Co  Insight – 20 April 2021

The maritime industry, which uses vast quantities of electronically stored and transmitted data, is particularly vulnerable to ransomware threats. Increasingly sophisticated strains, like Conti or REvil, can spread across the entire network of a shipping company, infecting computers globally and encrypting data. Not only are systems encrypted, but the...

https://allaboutshipping.co.uk/2021/04/20/part-3-a-very-modern-form-of-piracy-cybercrime-against-the-shipping-industry-data-protection/

E-commerce cybercrime jumped 50% in 2020

Omnichannel retailers saw a 50% spike in fraud across their digital networks in 2020 compared to 2019, according to data compiled by security solutions firm Sift. Those same retailers saw the average value of fraudulent orders increase 9.09% year-over-year as the shift to online buying during the COVID-19 pandemic opened new doors for cybercriminals.

“The pandemic played an influential role in how payment fraud changed and scaled in 2020,” the new report from Sift noted. “Incidentally, the...

https://www.freightwaves.com/news/e-commerce-cybercrime-jumped-50-in-2020

A very modern form of piracy: cybercrime against the shipping industry – Part 1: Rapidly developing risks

A very modern form of piracy: cybercrime against the shipping industry – Part 1: Rapidly developing risks

Cyber-attacks pose a serious threat to corporations generally and those involved in shipping are no exception. The Cyber Risk team at Clyde & Co has worked on over 3,000 data breaches and cyber incidents including a number of the largest, most high profile incidents globally to date. Although these cases and incidents have encompassed the full range of global business interests, Clyde & Co...

https://allaboutshipping.co.uk/2021/03/23/a-very-modern-form-of-piracy-cybercrime-against-the-shipping-industry-part-1-rapidly-developing-risks/

US takes extra measures to secure COVID vaccine shipments

Armed guard on tarmac in front of a FedEx plane getting loaded with COVID vaccine.

COVID-19 vaccines are literally worth more than gold. That’s the kind of value that criminal elements and other bad actors like to exploit.

Behind the scenes, governments and industry are adding new layers of security to prevent them from stealing the new biologic medicines or their digital recipes. The most visible sign that COVID vaccines are no ordinary shipments is the presence of armed U.S. marshals on the floor of distribution centers and in vehicle escorts.

“Throughout the process we’ve...

https://s29755.pcdn.co/news/us-marshals-help-safeguard-covid-vaccine-shipments

The Daily Dash: Tax penalties, HOS exemptions and a better way to price insurance

Mileage based user fee study finds trucks pay less in tax

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, a new study has found that fuel-efficient trucks may pay higher taxes than older, fuel-guzzling trucks under a mileage-based system. Plus, more hours-of-service exemptions have been issued, an insurance startup thinks it has a better way to price insurance, and TFI International could be shifting into acquisition mode.

Mileage-based taxes may not solve highway funding problems

A multi-state study of...

https://s29755.pcdn.co/news/the-daily-dash-tax-penalties-hos-exemptions-and-a-better-way-to-price-insurance