The financial impact of cybersecurity breaches on companies in the UK has climbed to a whopping average of an annual £4,180 in 2019, nearly double 2017’s £2,450, according to a UK government survey conducted in winter 2018 and early 2019. The cost has risen significantly for companies that lost critical data or assets following a cyber incident or breach.
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The cloud-based approach is growing in popularity among businesses worldwide, with more enterprises feeling confident in making the shift. Yet they feel obliged to take a different path due to concerns about data security in cloud computing, according to 24% of them, as well as limited budgets and high costs (22%), according to a recent survey from Netwrix.
After Russians used techniques such as spearphishing emails and troll farms to inundate social media and influence the 2016 US election, concerns that the 2020 election is up for similar compromise are increasing. US intelligence and officials from the Democratic party are concerned that “Donald Trump and a powerful Senate ally are downplaying these concerns and not doing enough to thwart interfering,” according to The Guardian.
Fines don’t stop rolling when Facebook is involved. Italy’s data protection watchdog, Il Garante per la protezione dei dati, has just hit the tech company with a €1 million fine for mishandling user data following the Cambridge Analytica scandal, writes TechCrunch.
Cyber insurance is clearly a good idea, considering the rapid growth of technology and daily malware releases. June isn’t even over and already 6.46 million new pieces of malware appeared this month, as per AV-Test. But simply because a company chooses to protect its assets in case of a breach, it doesn’t mean it will never fall victim to an attack. In today’s threat landscape, cyberattacks are inevitable. It’s no longer a matter of “if,” but of “when” the next attack will strike to encrypt valuable data or shut down a critical infrastructure.
Organizations are ever more enthusiastic about IoT opportunities and what they could achieve through automation. But this exuberance is tempered by concerns such as how to reach company goals and which solutions would take them there, according to research by Informa Engage for Longview IoT, a Carnegie Technologies company.
Enterprise privately-owned data centers form the core of IT infrastructure, but they are getting overcrowded and could soon be looking at major efficiency issues.
Believing that security incidents are imminent and probably unavoidable, enterprises are turning to advanced digital forensics to better understand and identify bad actors, and are open to using deception through technology such as honey pots or seeding fake data to help hunt down cybercriminals later, according to Neustar research. They’re also open to using deceptive tactics, such as deploying honey pots or seeding fake data to help hunt down cybercriminals later.
Critical networks are caught in the crossfire of the battle over industrial secrets, tech patents, military operations and financial information. A month after the US Department of Homeland Security (DHS) and Federal Bureau of Investigation (FBI) released a joint security advisory warning that a critical backdoor Trojan was in the wild, comes a new alert.
While hackers are often driven by financial gain through extortion schemes, state-sponsored criminal groups actively targeted the public administration sector for cyberespionage purposes in 2018. 16 percent of breaches occurred in public administration where “cyberespionage is rampant,” while 15 percent affected healthcare companies and 10 percent involved financial companies, Verizon found after analyzing more than 41,000 security incidents and confirmed data breaches in the US.
Could critical infrastructure attacks be making a comeback? Or did these invisible threats never leave in the first place? Extensive research reveals that as many as four threat actors many have been involved in creating Stuxnet, the sophisticated computer worm that demolished Iran’s nuclear infrastructure in 2007. In light of recent discoveries about similarities in malware samples, cyberespionage appears to be a growing threat that can hide for years before its discovered.
Private users are not the only ones excited about IoT technology and gadgets in everyday activity the countless growth opportunities in the area. A number of companies, organizations and even public institutions have turned to connected devices to build more sustainable, automated infrastructures, but device reliability, data security delivery and privacy still must still be addressed.