Increase of Fraud and Ransomware Activity Impact Losses By 33%
May 13, 2025
$16.6 Billion in losses from Fraud and Ransomware In Just One Year
In 2024, the FBI’s IC3 received nearly 860,000 complaints and recorded $16.6 billion in losses—a 33 percent increase over 2023—primarily driven by fraud and ransomware, with ransomware posing the greatest threat to critical infrastructure. Deputy Assistant Director Cynthia Kaiser cautioned that this figure likely undercounts the actual impact, as many incidents go unreported. Organizations should review and strengthen their fraud detection, incident reporting, and ransomware response protocols; contact us for detailed guidance.
(Source: FBI IC3 2024 report; contact us for more information.)
VeriSource Data breach that reveals employee benefit records
Security Teams Should Strengthen Vendor Oversight
Critical Infrastructure Operators Should Validate Contingency Plans
SAP has issued an emergency patch for CVE-2025-31324 (CVSS 10.0) in NetWeaver Visual Composer Framework 7.50 after ReliaQuest researchers observed active exploitation of a missing authorization check in the Metadata Uploader. This flaw allowed unauthenticated attackers to upload malicious binaries, jeopardizing system confidentiality, integrity, and availability. Organizations should immediately apply the update via the SAP Software Download Center and audit their systems for indicators of compromise; contact us for assistance with patch deployment and verification. (Source: SAP security advisory; contact us for more information.)
AppDirect Names Caliber Solutions as One of Two Partners With Over $1 million in Sales
We are thrilled to announce the acquisition of Cavalry Solutions, a pioneer in managed services and operational technology (OT). This strategic acquisition enhances our capabilities in integrating IT and OT solutions, positioning us to meet the growing needs of interconnected technology systems across various industries.