Leading insurer Lloyd's of London has issued a dire warning about a potential cyber attack scenario on one of the world's major payments systems, estimating that the global cost would total about $3.5 trillion and that much of the recovery cost would not be covered by insurance policies.
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.
With an immediate need to remedy the headcount shortage in cybersecurity, staffing a security operations center (SOC) is only half the battle though. We need to focus on cultivating our workplace culture to better retain talent.
A study was done on the stock market performance of 28 companies that suffered a massive data breach. Even though they do underperform over the long run but not as much as one might think.
Attackers used SMS text messages as a delivery mechanism is the Twilio and Cloudflare attack. Additionally, the attackers seemed to have targeted specific employees and they demonstrated significant knowledge of who those employees regularly interacted with.
46% of cybersecurity professionals in a recent survey said their stress level has increased in the past 12 months, and an almost identical percentage – in the same study – indicated they’ve considered quitting the industry because of the stress level.
A new report finds that security professionals are receptive to the idea of more regulation by the federal government in the interest of improving cyber defenses. 99% feel that federal agencies are not doing enough to protect their own data and systems.
Johannesburg is again a fallen victim to ransomware attacks on cities. Following the July attack where some residents were left without power, hackers had compromised the city's IT infrastructure this time.
European oil terminals are reporting recent cyber attacks that have disrupted operations, collectively impacting port operations throughout Europe and Africa. Timing of cyber attacks in Europe raises questions about coordinated campaign.
Huawei has made “no material progress” on addressing Huawei cybersecurity flaws discovered a year ago. Recent HCSEC study shows Huawei cybersecurity practices are untrustworthy and present high risk to the UK for large 5G network build-outs.
To stop a ransomware attack, you need the capability to detect threats and take action against them before they ever impact your business. Utilizing services such as extended detection and response (XDR) can provide round-the-clock monitoring from a team of cybersecurity experts.










