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The White House digs into the global ransomware problem as costs soar. CISA cautions against overreactions during the midterms. And researchers say the FTC needs secure reporting channels. This is CyberScoop for Nov. 2.

Ransomware costs top $1 billion last year

U.S. financial institutions observed nearly $1.2 billion in costs associated with ransomware attacks in 2021, a nearly 200 percent increase over the previous year, according to data reported by banks to the U.S. Treasury Department and released in a report Tuesday. The report comes amid an effort by the Biden administration to crack down on ransomware operators globally and illustrates the scale of the challenge facing law enforcement agencies and policymakers. Experts say the figure doesn't capture the full scope of the problem, however. AJ Vicens reports.

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CISA: There's no credible threat to voting equipment

A week before the midterm elections, Cybersecurity and Infrastructure Security Agency Director Jen Easterly said the Biden administration has done “everything we can” to protect election infrastructure and cautioned against overreactions to any voting mishaps on Election Day. “There are going to be errors, there are going to be glitches. That happens in every election,” Easterly said during a Center for Strategic and International Studies event in Washington on Tuesday. Christian Vasquez has more.

Should the FTC secure whistleblower channels?

A new encrypted, open-source tool created by Aspen Institute policy scholars could streamline and dramatically improve the whistleblower antitrust complaint process within the Federal Trade Commission. Currently, the FTC uses a simple and less secure email process for antitrust whistleblower complaints, which four tech scholars at the Aspen Institute want to revolutionize with a new proposed user interface. The researchers say the tool could improve the collection of whistleblower reports of anti-competitive corporate behavior. Nihal Krishan writes in FedScoop.

WATCH: Exclusive interviews from Cybersecurity Summit 2022

Leaders from across the public sector technology community came together at the Trellix Cybersecurity Summit 2022 to discuss the evolving threat landscape, new trends in securing against the most sophisticated attacks and how XDR can help adaptively strengthen security postures. Tune in for exclusive interviews with:

Find everything from the event here.

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