Businesses are not prepared for cyberattacks
An article in Forbes discusses the risk of cyberattacks on businesses. Many companies are unprepared to prevent a cyberattack.
Yet many are still ill-prepared for the new age of cybercrime. Recently, PwC indicated less than half of companies surveyed are taking necessary steps to protect their business. This lack of action is not only leading to significant costs, but can result in immeasurable damage to corporate reputation.
More proof that hackers are going after SMBs
Large scale data breaches such as Target and Home Depot make the news but smaller organizations are victims of data breaches as well. The problem is that most data breaches that happen to small or midsize companies are either not reported or do not make the news headlines. This in turn leads many small to midsize businesses (SMBs) to underestimate the risk that their company may be a victim of a data breach.
SEC Investment Management Division Issues Cybersecurity Guidance
The US Securities and Exchange Commission (SEC) Division of Investment Management has issued cybersecurity guidance (PDF) to registered investment companies (“Funds”) and registered investment advisers (“Advisers”). The SEC has identify cybersecurity as an issue for both Funds and Advisers.
A look at how hackers create spear phishing emails
Spear phishing emails are highly effective and have been the cause of many successful hacking attempts. Unlike a regular phishing email that could be sent to thousands or millions of recipients, a spear phishing email is created to target just one victim. And if that victim falls for the bait, there is a good chance that they will turn over valuable information including network user accounts and passwords or confidential information such as bank account login credentials.
Survey: Companies See PII Disclosure as Top Cyber Threat
A survey by Mayer Brown shows companies consider the disclosure of PII the biggest cyber related threat.
Survey respondents overwhelmingly considered the disclosure of personally, identifiable information as the biggest cyber-related threat to their companies (63%). Concern about interruption of business operations such as system sabotage ranked second (24%).
Cyber risk the most serious threat to business, says Lloyd’s chief
The CEO of Lloyd’s of London, one of the largest insurance companies in the world, says that cyber risk is the most serious threat to businesses
Inga Beale, chief executive of Lloyd’s, said: “Cyber risk poses the most serious threat to businesses and national economies, and it’s an issue that’s not going to go away.
This threat is driving a big push for Cyber Insurance
Managed Security Market to Reach $33B in 2020
Market intelligence from ABI Research estimates the current global market for managed security services will be around $15.4 billion by the 2015. They state that there is a big push by businesses to use managed security service providers (MSSP) to help with outsourced security. ABI Research estimates the market for MSSPs will be around $33 billion by 2020.
The Dangers of Public Wi-Fi
An article over at medium gives excellent insight into the real dangers of open public WiFi. After reading this article you will never use a public WiFi hotspot again!
You should read the full article but here are some highlights:
Hackers impersonating IT staff on the rise
Research by security company FireEye reveals that hackers are becoming much smarter in their methods to gain access to networks that they are trying to break into. According to ZDNet
Fresh FireEye research suggests that today’s cyberattackers are becoming smarter about the systems they seek to break, and are commonly using impersonation and social engineering to tap into the most common weakness in the security chain — employees.
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