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The data shows how perceptions around cyber and technology risks, from ransomware and other cyber-attacks to the threats posed by AI, are changing the global business risk landscape. The economic impact of cybercrime on business across the globe continues to reach new levels, with the cost predicted to reach US$10.5
When data breaches escalate, cyber-attacks grow more sophisticated, nation states ramp up their digital warfare, and regulations tighten the noose, staying ahead isnt just an optionits your only line of defence. Nation-states and geopolitical tensions are increasingly fuelling modern cyber threats.
Last year saw a 110% rise in cybercrime in the lead up to Valentine's Day. And 2025 will be no different, as increasingly sophisticated online hackers seek to take advantage of Valentine's themed email traffic, social media advertisements, or marketing campaigns, and exploit heightened emotions and a desire to connect.
That could be through common hacking techniques like phishing, bait and switch, cookie theft, deep fake , password cracking , socialengineering , and so on. Whilst managing cyberrisk does require you to use risk management standards and frameworks, it’s not a case of using one over another. But know this.
Criminals tweaked existing forms of cybercrime to fit the pandemic narrative, abused the uncertainty of the situation and the public’s need for reliable information. In many cases, COVID-19 caused an amplification of existing cybercrimes, exacerbated by a significant increase in the number of people working from home.”.
Related: Adopting an assume-breach mindset With that in mind, Last Watchdog invited the cybersecurity experts we’ve worked with this past year for their perspectives on two questions that all company leaders should have top of mind: •What should be my biggest takeaway from 2023, with respect to mitigating cyberrisks at my organization?
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The attacker gained initial access to two employee accounts by carrying out socialengineering attacks on the organization’s help desk twice. Leveraging its English proficiency, the collective uses socialengineering for initial access. Within six hours, the attacker began encrypting the organization’s systems.
As we rely increasingly on digital technologies for our work, communication, entertainment, and education, we also expose ourselves to more and more cyberrisks. But how much do we know about the cyber threats we face daily? According to PurpleSec, 98% of cybercrime relies on socialengineering to accomplish it.
According to Group-IB, the likelihood of the database systems being used in cybercrime and security breaches is high. A data breach, a follow-up strike on clients whose data was exposed, and other risks may result from an exposed database. Hackers could use the same methods as Group-IB to exploit the databases.
During the last few years, we have all become witnesses to intense cybercrime and sophisticated cyberattacks. As cybercrime continues to increase, the human element can play the most important role in cybersecurity posture and hygiene. In other words, what we have to do is to manage human risk in the most competent manner.
Could artificial intelligence (AI) be the key to outsmarting cyber threats in an increasingly connected world? These are questions I’ve been asking myself recently as AI and cybercrime have become hot topics in the tech industry, and for world leaders. Is it our only hope for survival?These
No one is safe from cybercrime, and often the most vulnerable among us are the most likely to be targeted or victimized. Tuma is teaching a PLUS training course on May 17, the day prior to the SecureWorld Houston conference, on the topic of " Real-World CyberRisk Management and Resilience Planning." Register here.
The hackers used socialengineering techniques, sending phishing emails to several of Target’s vendors, and successfully breached Target’s network. While eliminating the risk completely is impossible, there are a few things organizations can do to improve their cybersecurity posture. Third-party risk management.
The pandemic has fuelled an increase in cybercrime that shows no signs of abating. The speed with which companies had to digitally transform their businesses during the pandemic has increased their cyber vulnerabilities. Just as companies are starting to return to some semblance of new normal, another threat is on the horizon.
Other cyber incidents are common, including phishing attacks , business email compromise, exploitation of cloud and software vulnerabilities , socialengineering , third-party exposures, and more. It hosts Cybercrime Spotlight webinars on emerging cyber threats and the most effective controls to prevent them.
It’s a roller coaster of a time to lead, as CIOs, CISOs and CTOs are having to deal with more users, data, devices, technologies, connectivity, mobility, regulations, risks, and threats than they care to. Cyberrisks top worldwide business concerns in 2022.
The attacker gained initial access to two employee accounts by carrying out socialengineering attacks on the organization’s help desk twice. Leveraging its English proficiency, the collective uses socialengineering for initial access. Within six hours, the attacker began encrypting the organization’s systems.
Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyber insurance. GreyMatter DRP generates alerts that are categorized by risk type and provides context that can allow organizations to take proactive remediation responses.
Given the rapidly changing payments solutions and technologies around the world, we commend the effort by the Atlanta Federal Reserve and the Georgia State University to better understand the emerging cyberrisks associated with the new payments realities,” Steve Silberstein, CEO of FS-ISAC, remarked to SC Media.
Even the smallest business can become a target for cybercrime, with cyber threats increasingly affecting organizations of all sizes. Are you prepared to defend against the rising tide of cyber threats? Lack of Awareness Many small business owners remain unaware of the specific cyberrisks targeting their businesses.
Since founding Cedric Leighton Associates, he has become an internationally known strategic risk expert. Leighton is also a founding partner of CYFORIX, specializing in the field of cyberrisk. His expertise is in socialengineering, technology, security algorithms and business.
Methods of Cyber Attacks There are various methods an external attacker can use to gain access to internal systems and data: Socialengineering and phishing attacks in which passwords or other sensitive information can be guessed or obtained via employees for example, by an outsider posing as someone else inside the company.
Threat actors have developed socialengineering approaches that leverage the uncertainty and chaos of the pandemic in order to deliver their malicious software. When it comes to cyberrisks, the most up-to-date cybersecurity technology or regimented program doesn’t make an organization immune to an attack.
Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyber insurance. GreyMatter DRP generates alerts that are categorized by risk type and provides context that can allow organizations to take proactive remediation responses.
For Lockbit, who have been the most active group since early 2021, it is possible that the current war between Russia and Ukraine may take law enforcement focus away from cybercrime as many western law enforcement agencies are likely more preoccupied with stopping Russian nation state sponsored activity.
Kip Boyle, vCISO, CyberRisk Opportunities LLC: The Challenge of Cultivating Buy-in from Leadership and Employees "Cybersecurity professionals will continue to face a critical challenge: cultivating genuine buy-in from both senior leaders and employees. "The What the Practitioners Predict Jake Bernstein, Esq.,
government taking a more active role in the battle against cybercrime, more needs to be done defensively to protect the private companies that make?up Here’s why: Total global losses from cybercrime in 2021 are estimated to top $6 trillion , with the U.S. Despite the U.S. of the critical infrastructure in our nation.
This past year set a profound stage, from the advent of stringent cyber regulations to the convergence of generative AI, socialengineering, and ransomware. Last year, we witnessed the fast-evolving nature of socialengineering attacks, and this evolution poses greater challenges for detection and defense.
In this blog, I’m exploring these changes, grouped under key categories that I’ve used in previous years, to help business leaders and cyberrisk owners better prepare for the evolving landscape. These groups are also shifting toward more human-centric exploits , like socialengineering and insider assistance.
Threat actors have developed socialengineering approaches that leverage the uncertainty and chaos of the pandemic in order to deliver their malicious software. Operating with a team of individuals who are cybersecurity savvy is one of the best tools for cyberrisk management.
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