Despite the ongoing rise in social engineering attacks, the idea that cybersecurity is only about technology manifests within most of our minds. Organizations often neglect human behavior's impact on their cybersecurity postures. Instead, they spend lavishly on endpoint security tools, threat hunting programs, and building incident response plans. Admittedly, these security measures are a crucial part of mitigating attacks.
Account takeover fraud is not new but it is growing fast. By 2018, account takeover fraud accounted for losses of around $4 billion. In 2021, this figure increased by more than 200%, and as of today, it is estimated to exceed $12 billion. A recent paper published by Microsoft has revealed a new and disturbing way of compromising accounts where hackers hijack accounts before users register them. For instance, they create an account in Zoom or Dropbox using the user's credentials.
According to new data from Juniper Research, global spending on digital identity verification checks will rise from US$11.6 billion in 2022 to US$20.8 billion in 2027, and is expected to reach US$40 billion.
The costs associated with a cyberattack can be significant, especially if a company does not have an Incident Response plan that addresses risk. The one-two punch of a cyberattack can be devastating. There is the breach and then the related mitigation costs. Implementing a comprehensive Incident Response (IR) game plan into a worst-case-scenario should not be a post-breach scramble. And when that IR strategy includes insurance, it also must address a business’s level of cyber risk.
Did you know that malware attacks on software have increased by 11% to reach 2.8 billion in 2022? This is a staggering rise in security attacks and a huge point of concern for the industry. For many companies, the security of their software systems becomes a priority only after they experience a breach. But it doesn’t have to be that way. If you want to keep your systems secure and provide users with a safe environment, you need to be conscious of security flaws.
A distributed denial-of-service (DDoS) attack is an attempt to disrupt the normal traffic of a targeted server. This is done by overwhelming the server, service or network being targeted with a flood of internet traffic, ultimately slowing the server down or causing it to crash completely. Think of it as being like a traffic jam, which causes all the cars on a road to slow down or come to a stop.
On Sept. 29th 2022, cybersecurity organization GTSC publicized a report outlining attacks they have seen in the wild targeting as-yet unpatched vulnerabilities in Microsoft Exchange. When successfully exploited this combination of vulnerabilities results in an authenticated Remote Code Execution (RCE) attack. Until a patch has been issued, Microsoft has posted a security bulletin detailing a workaround.
The market-leading CrowdStrike Falcon® platform, applying a combination of advanced machine learning (ML), artificial intelligence (AI) and deep analytics across the trillions of security events captured in the CrowdStrike Security Cloud, has identified a new supply chain attack pattern during the installation of a chat based customer engagement platform.
