A Devastating Year in the Life of Cybersecurity
October 28, 2019 by Jon O'Keefe

According to the recently published Better Security and Business Outcomes with Security Performance Management report, 80-percent of businesses surveyed have experienced some sort of a cyber incident over the last year. Yes, you read that statistic correctly. 54-percent of businesses then reported that their customers were between somewhat and greatly harmed by these incidents.

 

What kind of trends have been on the rise this year to contribute to this astounding statistic?

 

  1. Internet of Things Ransomware – As expected, the boom of the Internet of Things has brought up quite a few issues in the world of security to say the least. Comprised of everything from refrigerators, ovens, and smart home devices to self-driving cars, these devices may not actually contain information themselves, but they can be used to hold access ransom by hackers. On a larger scale, hackers have been able to access power grid, corporate devices, and communication facilities to hold them ransom or impact critical infrastructure.
  2. Phishing and Malware – 32-percent of recent data breaches were caused by phishing attacks over the last year. These attacks are not anything new and they continue to steal information such as passwords, usernames, general account information, social security numbers, and credit cards. However, there has been a spike this last year of phone calls being made that include phishing to record a victim’s voice, known as “vishing.”[AM1] 
  3. Attacks on Mobile Devices – Recent research has proven that up to 80-percent of fraudulent transactions actually originated on a mobile device. As fraud on mobile apps has seen a steady increase over the last few years, hackers and cybercriminals are getting more and more sophisticated with their fraud techniques on mobile devices.

 

What can we do to ensure that the next year will be much safer in the world of security?

 

  1. Training – We will never stop encouraging company-wide cybersecurity training for businesses of all sizes. All it takes is for one employee to click the wrong link in an email to take down a company of 500 or 50. At Logical Operations, we offer a wide variety of training to help companies protect themselves from people-based threats and beyond.
  2. GDPR – We’ve been hearing about Europe’s General Data Protection Regulation since May of 2018, but its impact is still being increasingly felt as time goes on. In the United States, many individual states are actually beginning to implement their own GDPR-inspired legislation to create stricter consent laws for companies who collect sensitive data from customers. California’s Consumer Privacy Act will go into effect in early 2020.
  3. Improved Automation – While companies should not totally rely on automated systems for cybersecurity efforts, improvements are continually being made to help make things easier for security professionals.

 

The Logical Operations team knows the importance of cyber security. With
October being Cyber Security Awareness Month, it is important to keep in mind the simple ways we can keep ourselves protected against cyber attacks. You can do this with our CyberSec First Responder Training or our CyberSAFE courses. Don’t fall victim to cyber hacks, protect yourself.