1.) Last week the media buzzed with reports that the New Jersey Borough of Palisades Park witnessed a financial drain out when $460,000 went missing from the Borough’s official bank account as a result of a fraudulent wire transfer.
News is out this week that the Mariner’s Bank received $200,000 advancement for the insurance claim and more amounts will be sanctioned after a second inquiry.
The $200,000 insurance cheque was given to the Borough Council on Tuesday night by Ezio Altamura, risk manager, Otterstedt Insurance.
Hence, here’s the proof that all cyber attacks do not leave victims traumatized and make them feel out of luck.
2.) In other news related to the cyber attack, Aurora City School officials have issued a notice on Thursday that most of the amount which was compromised due to a cybersecurity attack of Tuesday has been recovered with the help of the law enforcement authorities.
As the cyber attack was sophisticated and launched by mature hackers, the school district’s treasure’s department couldn’t prevent the financial drain which happened on Tuesday afternoon. However, their timely intervention later and the coordination between the law enforcement helped the school authorities recover most of the amount by Thursday evening.
Aurora School District has issued a public statement a few hours ago stating that no data was compromised in the attack and they will follow a proper protocol and standard to protect all personal and financial electronic data from now on.
3.) Coming to the third news which is related to Ransomware, Colchester Town of Connecticut is said to have become a victim to hackers who locked down the data access until a hefty ransom is paid.
Art Shilosky, the 1st selectman of Colchester said that town’s digital assets were impacted by ransomware and details on how many departments have been affected are yet to be known.
Last year, a dozen state agencies were hit by ransomware and that includes the City of West Haven which paid $2000 in cryptocurrency to free up their assets.
Note- The best way to defend the digital data assets is to have a data backup system in place- all as a part of a business continuity plan.
