In April, Sparity will publish a report on how data analysis and targeting have become mainstream.
However, take a brief look at general examples of how you or your third-party relationship can be compromised. Your organization is likely a target for simultaneous assault on three fronts.
The most recent Forbes Magazine article reaffirms what many in the industry already know – cybersecurity budgets are going up and given the compromises reported so far, many budgets will probably require an increase.
“It takes 20 years to build a reputation and few minutes of cyber-incident to ruin it.”
As Sparity previously reported in our Webinars , a brief drop in BEC last spring followed by what I refer to as the 2021 prelude – escalated 4th quarter attacks targeting core networks.
According to the latest “Threat Landscape Report(s)” from numerous cybersecurity industry labs, ransomware attacks escalated sevenfold in just the past two business cycles, most likely creating an unpredicted dent in planned budgets.
In mid-2020, Malware-as-a-Service or Ransomware-as-a-Service advertised on the dark web moved to the mainstream with several variants written by different cybercrime groups: Cerberus, FritzFrog, and Emotet.
Cybercrime actors can utilize any service for a price. An electronic funds transfer or BitCoin coupled with knowledge of a target can produce rewards.
Working from home? Cybercriminals are now focused on keeping up the pressure on home offices and mobile workers—a spike in attacks targeting consumer IoT devices just to name one. I am willing to wager that a large percentage of connected devices are more than three years old, weak security presets, and likely never been patched or updated.
The problem is the redesign of an endpoint security model – The “new normal” did not provide IT teams enough time to prepare a security foundation for this business model transition properly.
Hundreds or thousands of employees outside of the business network – one security issue @ home or @ the coffee shop could disrupt the business.
Digital Supply Chains:
In December of 2020, the entire trusted digital supply chain model everyone had been relying on for decades was turned upside down. I am sure you have heard of or read about the SolarWinds SUNBURST attack and how deep it ran into every business sector.Malware developed by state-sponsored- threats already inside a firmware and software update.
Prior to SUNBURST, the 2015 Juniper Networks ScreenOS vulnerability was the last time an attack has been I hate to say it, well thought out.
This far-reaching compromise has everyone forced to consider what else we can do? The answer is straightforward – timely patches and code reviewed before applying them. Of course, this adds another layer to an already pressed deployment cycle, and several time-consuming steps to a business process are not what the leadership wants to hear.
US older cybersecurity professionals can tell you, finding an unpatched system is at the heart of most malware attacks.
What Can You Do?
Everything is now connected and across a more extensive and ever-expanding digital environment. Here are some answers to consider for the evolving threat landscape:
? Integrated platform technologies, powered by actionable threat intelligence, are vital to defending networks across all edges. Identifying industry targets and threat intelligence is no longer an excellent position to have on your cybersecurity team. Threat intelligence is a need to have a role on your team.
? Implement Secure Access Services to quickly extend secure access to all users and extend enterprise-grade security to end-users through the cloud if combined with zero-trust access, adequate network segmentation, and network access control companies ensure that users and devices only have access to predefined resources.
? A robust strategy for storing backups of critical data, applications, and other resources off-network. When combined with an action plan, you have a means not to pay that ransom to get your data back.
? Endpoint protection using the latest (cost effective) detection and response (EDR) technology. Rapidly grown in popularity, the solution can prevent attacks and detect and disrupt devices, preventing them from connecting to their command-and-control servers or downloading or launching malware.
The list above is just a few strategic and practical matters to consider from a business perspective. To focus on your business’s core activities, Sparity can assist your company with navigating and handling the cybersecurity, compliance, and C-level reporting requirements.
If you would like to find out more, schedule a consultation.
Do you have any of these problems for your business?. Share them in the comments below.