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Alex Bovecelli

Senior Director of Threat Intelligence at Tokio Marine HCC; cybersecurity expert specializing in ransomware threat analysis and insurance claims-based threat intelligence.

Jun 4, 2026

2:57
So let's chat a little bit about what you're gonna talk about there.
2:59
So I, I think what would be very beneficial is trying to shine a little bit of light on, um, what the cybersecurity industry understands of, um, primary initial access vectors, but also, uh, what, what tends to be spoken about a lot, um, in our little, um, echo chambers of, uh, um, cybersecurity news and cycles, uh, as opposed to what we're seeing, right? As opposed to what we're really seeing specifically against, uh, SMBs, like small...
3:31
I don't mean the protocol.
3:32
I mean, uh, small, medium business, right? The smaller in, uh, smaller businesses, uh, US-based businesses.
3:38
Uh, b- the overall there, there tends to be, um, still, uh, a misconception, um, in, um, the overall targeting of ransomware groups, right? I mean, we, we, we have seen in, um, our previous years of tracking these operations where they were actually a lot more targeted, okay? And what we're seeing now is less targeted events, uh, and, and we keep seeing, um, mostly smaller organizations that, that seem to not think of themselves as a valuable or a high-value target by these ransomware groups.
4:14
But in reality, the industry has to switch this overall outlook to access brokers and what's being exploited and the vulnerabilities that are being targeted because it is true, I mean, initial access is still achieved via, um, vulnerability exploitation or bypass authentication altogether, right? Your, your, your VPN firewall.
4:35
But, um, uh, phishing is still a thing, right? But we're not talking about, uh, things like, um, you know, SSL VPN brute forcing, which I've talked about, you know, ad nauseam.

15 MINS LATER

19:28
or ROI out of their targets.

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