Cybersecurity

Cyber Security Risks that are prevalent today

It’s not if a company will be attacked, but a matter of when. Analyst firm Gartner predicts by 2025, 45% of global organizations will be impacted in some way. When cyberattacks occur, the big question becomes how much damage they will incur, and how will the company bounce back if they can. IBM reported that in 2022, that 83% of organizations experienced more than one data breach. The FBI’s Internet Crime Complaint Center reported in 2022 a total of 800,944 complaints in the USA with losses exceeding $10.3 billion. Types of cyberattacks by an IBM 2023 report; 16% phishing, 15% stolen or compromised credentials, 11% zero-day vulnerabilities, 11% cloud misconfiguration, 9% business email compromise, 8% social engineering, 8% physical security compromise, 6% malicious insider, 6% stolen device, 6% unpatched systems, 4% system errors.

Email & social engineering are two of the most common attacks on businesses

  • Unwanted email in a user’s inbox are becoming the launching point of cyberattacks into an organization
  • Phishing and Spearing attacks are the avenues that are most targeted by Cybercriminals today. The goal is for them to gain access to a system, or to gain access to sensitive data. With each compromised system or account, it gets the cybercriminals one step closer to their goals of causing chaos in an organization and/or costing the company large sums of money, and in some cases bankrupting the business.

Another strong point of attack are compromised systems

  • Today many times the compromised systems start from email and social engineering but there are other mitigating factors that allows a system to become compromised
  • Updates: Software and Systems that are not up to date is similar to a standing fresh water pond for mosquito breeding

  • Endpoint Protection: Traditional antivirus is simply inadequate to stop the 100’s of viruses that are released into the wild each day.

Realtime identification, remediation, and recovery

  • Give a bad actor enough time, they will eventually break through some of the safeguards that businesses deploy. A report by IBM in 2023 states breaches take an average 9-10 months to identify and contain data breaches. Only 33% of breaches are discovered by an organization’s internal team, 40% by a 3rd party, and 27% are disclosed by the attacker. The breaches disclosed by the attacker took the longest to identify and contain.
  • A shorter data breach lifecycle is associated with lower breached data and costs.

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