Fraud and ransomware dominate cyber insurance claims
Ransomware accounts for 23 percent of cyber insurance claims, while while fraudulent funds transfer (FFT) accounts for 28 percent according to insurance specialist Corvus, which has released its latest Risk Insights Index.
The impact and consistency of FFT is growing, accounting for 36 percent of all claims in the last quarter (Q3 2022), an all-time high. Indeed this metric has not dropped below 25 percent for the past six quarters.
Security and access are top issues for data engineers
More than half (54 percent) of respondents to a new survey say securing data with appropriate access rights is one of their biggest hurdles. While almost 60 percent believe their organizations should be placing extra emphasis on data security.
The third annual State of Data Engineering Survey from Immuta also finds that that 89 percent of organizations report missing business opportunities because of data access bottlenecks.
The perfect defense: How to stop cyber criminals from scoring
Data is more plentiful, valuable and interconnected than ever before. Unfortunately, this has led to a cyber threat landscape that is increasingly dynamic and costly to business.
Cybercrime inflicted approximately $6 trillion in damages globally in 2021, an annual figure that is set to reach $10.5 trillion by 2025. This is equivalent to the world’s third-largest GDP after the U.S. and China. It is a threat that requires a comprehensive approach to defending, protecting, and recovering data, avoiding vulnerabilities and maintaining business continuity.
Why SaaS needs a holistic approach to security [Q&A]
As organizations move more of their systems to the cloud they face a new range of threats. This combined with a shortage of cybersecurity skills makes securing SaaS systems a challenge.
Galit Lubetzky Sharon, co-founder and CTO of Wing Security, believes that a new more holistic approach, involving employees across the organization, is needed. We spoke to her to learn more.
Organizations failing to unlock the full potential of zero trust
More than 90 percent of organizations migrating to the cloud have implemented, are implementing, or are in the process to implement a zero trust architecture.
But a new study from Zscaler shows only 22 percent of global IT decision-makers claim to be 'fully confident' that their organization is leveraging the potential of their cloud infrastructure, presenting an opportunity for zero trust.
Integration, legacy tech and lack of skills prevent implementation of security solutions
According to research, 50 percent of over 400 IT security decision makers in the US and UK have been prevented from adopting a new cybersecurity solution due to integration issues or challenges with legacy infrastructure.
The study for BlackFog, conducted by Sapio Research, also reveals that 32 percent say a lack of skills within their team to support a new product would also be a factor preventing them from deploying new solutions.
Balancing the risks and benefits of an online presence [Q&A]
The widespread use of digital platforms allows businesses to expand, but at the same time a growing internet presence can put organizations at risk in ways they cannot plan for.
We talked to Censys' data scientist, Emily Austin about the company's recent State of the Internet report and about how businesses can proactively fight against unknown domains and risks.
Zero-trust architecture: A cybersecurity must-have
The COVID-19 pandemic ushered in a new era of remote and hybrid work that many of us knew was possible, but felt was years away from being realized. Now, we can work anywhere in the world asynchronously, with access to the documents and tech stack required to do our jobs as we would in an office setting.
While this has helped create a better work/life balance for many employees, this corporate culture shift has created a host of new challenges for cybersecurity teams. The increase in endpoints, with an increasing number of devices accessed remotely, requires a higher level of security to tackle growing online threats. How can IT teams champion hybrid workflows in an untrustworthy digital landscape? Fortunately, there is a solution to this problem -- a zero-trust architecture.
Small business versus enterprise -- what are the challenges around security?
Companies spend a lot on IT security, and that trend does not look like it’s stopping, despite the current economic headwinds. Gartner estimates that spending on information security and risk management will grow by 11.3 percent to reach more than $188.3 billion in 2023. Yet, in the face of mounting economic pressure, many companies are afraid they will have to cut their spending. According to our own research, around 44 percent of small and mid-sized enterprise (SME) companies think they will have to reduce their IT budgets in 2023.
Of these, around three quarters think this reduction will lead to increased risk to the business. When this happens stress and overtime increase dramatically -- already, we found that all IT professionals work more hours than they are paid for with 26 percent saying they average ten hours a week in overtime. In order to solve these problems, we have to think again about the role of IT security, and why the size of the company you support affects how you can achieve your goals.
Identity fraud doubles in crypto and banking sectors
The crypto and banking sectors both experienced a nearly two-fold increase in identity fraud in 2022, according to a new report from verification platform Sumsub.
The report also finds that over half of all fraud cases happened in just five countries: Bangladesh (22 percent), Pakistan (15.2 percent), Vietnam (8.1 percent), Nigeria (5.4 percent) and the USA (5.1 percent).
Cyber extortion dominates the threat landscape
Cyber extortion is impacting businesses of all sizes across the world, and 82 percent of observed are small businesses, an increase from 78 percent last year.
The latest Security Navigator report from Orange Cyberdefense shows a marked slow-down in cybercrime at the onset of the Ukraine war, but intensity soon increasing again.
Dropbox is bringing end-to-end encryption to business users thanks to Boxcryptor acquisition
Dropbox has announced plans to acquire "key assets" from Boxcryptor in a move that will boost security for business users.
The acquisition will bring zero-knowledge end-to-end encryption to users signed up for business account. It is something that Dropbox undoubtedly hopes will help increase confidence in its cloud storage service.
Three out of four organizations are still vulnerable to Log4Shell
The Log4j or Log4Shell vulnerability first hit the news in December 2021 sending ripples through the cybersecurity world. So you might be forgiven for thinking that it's safe to assume it's no longer a threat. However, one year on it seems that this is a vulnerability that keeps on being, well… vulnerable.
New research from Tenable, based on data collected from over 500 million tests, shows that 72 percent of organizations remain vulnerable to Log4Shell as of October this year.
Cybersecurity budgets are up but aren't being well spent
New research from cloud platform Fastly shows that while enterprises are increasing their cybersecurity spending they're not making the most of their investments.
While 73 percent of organizations worldwide are increasing their cybersecurity spending to protect themselves against future risks, IT leaders are investing poorly with only 61 percent of their cybersecurity tools fully active or deployed.
CISOs look to balance transformation and cybersecurity
A new survey reveals that while CISOs are still experiencing challenges around visibility, intelligence and control, nearly half (47 percent) are proactively focused on digital transformation and cloud migration.
The study of 600 UK CISOs from BlueFort Security finds most have moved beyond the challenges of a widespread shift to remote working and are now focused on digital transformation and migration to the cloud, despite an uncertain world picture and bleak economic environment.
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