When an organisation is attempting to contain a security breach, there is no such thing as too many cooks – but instead, too many siloed cooks. Cutting through the silos will allow for more robust security and enable agility across areas of a business that are, in fact, complementary to each other.
Cyber Security
Cyber criminals, state-sponsored hackers and even the occasional disgruntled employee are constantly looking to gain unauthorized access for a variety of purposes: theft of money, cyber espionage, personal information for sale or for use in scams, and damage to critical infrastructure for just a few of the most common.
So how does an organization mitigate an entire world full of continual cyber attacks? Just as buildings have a number of necessary elements of physical security: access control, cameras, alarms and so on; there are similar key elements of cyber security that are absolutely vital for just about any modern business.
It starts with identifying and closing the most common doors that attackers use. For example, phishing attacks on employees are far and away the most common initial point of entry. The breach of even a low-level employee account can quickly turn into an escalation in access privileges and the ability to reach sensitive information. This is also true of smart devices, which are generally more poorly secured than computers and phones.
Researchers warn that financial institutions must innovate to prevent online payment fraud losses, which are expected to exceed $343 billion between 2023 and 2027.
Why despite the fact that businesses and governments spend billions of dollars to fight cyber attacks are businesses continuing to fall prey to data breaches? Companies must build and sustain a strong security culture.
Data breach on the US federal courts record systems involved "three foreign hostile actors" and the attack was "startling in breadth and scope" and may have had a "staggering" impact on the Department of Justice.
The global average cost of data breach is now $4.35 million, a climb of 13% since 2020. Much of that are expenses realized more than a year after the attack, and most organizations (60%) are passing these added costs on to consumers in the form of higher prices.
By the end of 2021, 98% of companies were experiencing increases in cyber insurance costs. It has never been more important for businesses to demonstrate to insurers the efforts made to combat the cyber threat.
Malwarebytes discovered a malvertising campaign targeting top keywords and users' search behavior to display malicious Google Ads and redirecting to Windows support scam websites.
A bad year for the security of cross-chain bridges continues as Nomad has been hit by a crypto hack that drained about $190 million in its stored funds.
The Italian National Cybersecurity Agency and the Postal Police are investigating an alleged ransomware attack on the country's tax agency that potentially leaked 100 GB of data.
Companies are rapidly adopting APIs to improve platform integration, connectivity, and efficiency and to enable digital innovation projects. Over the last few years, API attacks have increased massively, and API security concerns continue to impede innovations.










