Tag Archive for: companies

Are companies paying enough attention to cybersecurity culture among employees?

/in


The advent of new technologies such as cloud computing, big data, artificial intelligence, and the Internet of Things have made today’s IT world a lot different than what it was a decade ago. As the technology has been evolving substantially, so have the cyber criminals, with attacks getting increasingly sophisticated. 

The pandemic’s role in pushing companies of all sizes and sectors toward adopting an always-online mode and cloud and other cyber technologies is accompanied by a whirlwind of scams and fraudulent activity hitting companies in 2020 and 2021 with cybercriminals targeting employees’ access to the organization’s systems. 

In this time of digital disruption and increased cyber threats, many companies are focusing their cybersecurity efforts on the technology component—to the detriment of the human factor. When data is compromised, often it’s tied to negligence or failure in the cybersecurity system within the company or from a third-party working with the company.

First line of defense: Employees 

It is imperative that companies focus on building and sustaining a culture of cybersecurity and cultivate it in the workplace for effective cyber risk management. This would entail moving beyond the typical strategy used in which most businesses simply allocate a certain portion of their IT budgets or revenue to security without considering their actual needs. The approach must include helping employees realize that the risk is real and that their actions can have an impact on increasing or reducing that risk. Companies’ cybersecurity blanket must also include third-parties and others on their IT architecture.

Effective cybersecurity necessitates a persistent effort that covers employee behavior, third-party risks, and numerous other potential vulnerabilities in addition to application security, penetration testing, and incident management.

Enterprises spend millions of dollars on hardware and software but may neglect the simple act of properly training their employees on security practices. Teaching employees to recognize threats, curb poor cyber behavior, and follow basic security habits can provide the best return on…

Source…

Blockchain security companies tackle cryptocurrency theft, ransom tracing

/in


According to data from the Rekt leaderboard, cybercriminals have stolen as much as $3 billion of investor funds through 141 various cryptocurrency exploits since January, putting 2022 on track to top 2021 levels of digital currency malfeasance. Comparitech’s cryptocurrency heists tracker indicates that since 2011, hackers have stolen $7.9 billion in cryptocurrency worth about $45.5 billion in today’s value.

Along with the increased dollar amounts of cryptocurrency thefts, the scams, hacks, and exploits of cryptocurrency, Web3 (a decentralized view of the web that incorporates blockchain technologies and token-based economics), and blockchain-related organizations are growing bolder and more lucrative for malicious hackers even as the value of cryptocurrencies stagnates. This month alone, Binance saw its BNB chain drained of $586 million, close to the all-time most significant cryptocurrency theft of $624 million from the Ronin Network in March 2022.

The threat actors in these and other instances likely didn’t keep all or even most of the astonishing amounts stolen but, in many cases, are increasingly granted handsome “bounties” in exchange for a return of some or most of the missing funds. Avraham Eisenberg, the man behind a $114 million exploit on Mango Markets in mid-October, got to keep $47 million of his allegedly ill-gotten gains in exchange for returning $67 million to the project.

A new crop of cybersecurity companies has emerged

The mind-boggling amount of money generated from crimes against an array of digital finance segments has no real parallels in the traditional cybersecurity world, which has yet to amass the expertise needed to discover, track, and remediate security incidents in the blockchain space. Part of the reason conventional cybersecurity professionals are reluctant to devote resources to the digital currency arena is the belief among many top experts that cryptocurrencies are little more than financial fraud, an opinion they feel is borne out by the current collapse in the cryptocurrency market.

Against this backdrop, a new crop of security companies has emerged to help Web3 firms cope with the chronic crime and assist…

Source…

World’s biggest drone maker and 12 other Chinese companies ‘banned’ by the US government – Gadgets Now

/in



World’s biggest drone maker and 12 other Chinese companies ‘banned’ by the US government  Gadgets Now

Source…

Report: 90% of companies affected by ransomware in 2022

/in


Were you unable to attend Transform 2022? Check out all of the summit sessions in our on-demand library now! Watch here.

An annual SpyCloud survey found that 90% of organizations were impacted by ransomware over the past twelve months, an alarming increase from last year’s 72.5%.

To compile the 2022 Ransomware Defense Report, SpyCloud asked over 300 individuals in active IT security roles at U.S., UK and Canadian organizations with at least 500 employees to evaluate the threat of ransomware, as well as their companies’ cyber readiness, over the past 12 months.

Their insights show that while companies have activated to strengthen their cybersecurity postures across the board in light of the increased threat of ransomware, criminals are becoming more sophisticated, leveraging gaps in security to perpetrate attacks.

Despite increased investment in cybersecurity, over the past year, the relentless tide of ransomware continued to disrupt operations and put organizations’ data at risk. Moreover, organizations were more likely than last year to be impacted more than once: 50% were hit at least twice, 20.3% were hit between 6 and 10 times and 7.4% were attacked more than 10 times.

Event

MetaBeat 2022

MetaBeat will bring together thought leaders to give guidance on how metaverse technology will transform the way all industries communicate and do business on October 4 in San Francisco, CA.


Register Here

The growing prevalence of repeat attacks is an indication that popular methods such as data backups –– which respondents saw as their most important ransomware countermeasure –– still leave sensitive data exposed. Once an attack has occurred, retrieving lost data does not prevent attackers from sharing it on the dark web, allowing criminals to use it for future nefarious activities, including their next attack.

Malware hits security defense gaps

Malware preparedness also represents a major gap in organizations’ defenses. IT security teams face a near-total lack of visibility into malware infections on…

Source…