Late last week the FBI was forced to make yet another public service announcement on the growing ransomware epidemic. In it, the Bureau pleaded with businesses to report infections, so that the authorities can get a better idea of the scale of the problem they’re facing. It also warned that cybercriminals are increasingly targeting business servers in the hope of infecting more machines and extracting a greater ransom from their victims.
This tells us two things: that the authorities still haven’t got a handle on the problem facing citizens and businesses, and that organisations are failing to put in place layered security to lock down risk across multiple threat vectors. We address both in a new report out this week. Continue reading →
It’s hard to overestimate just what a major impact ransomware is having on UK organisations. And yet anecdotal evidence suggests there is still widespread ignorance in the business world about exactly what it entails, how it works, and what can be done to halt its spread. That’s why Trend Micro recently commissioned a major study on the topic, which we hope will help uncover the truth about ransomware, its impact on the UK and how to prevent it.
Launched at the CLOUDSEC UK conference in London this week, the research tells us that a staggering 44% of British organisations have suffered a ransomware infection over the past two years. It’s time IT security teams got serious about what is now a major threat. Continue reading →
Another week, another attempt to quantify the staggering losses that can result from a major cyber attack. This time, it was accounting giant Grant Thornton International which noted that one in six businesses have been hit over the past year, at a potential total cost of over £200 billion. The firm surveyed 2,500 business leaders in 35 economies, so the results likely to be more accurate than most. However, with data breach reporting still only compulsory in the US, that figure could still represent just the tip of the iceberg.
What is clear, is that targeted threats are amongst the most expensive and potentially devastating cyber incursions an organisation can experience. Our new research revealed at CLOUDSEC last week, puts the average cost at around £172,000 for UK firms. But it also reveals that there are things that every firm can do to reduce the financial and reputation impact of such an attack. Continue reading →
Operation Aurora, Shady RAT, Woolen-Goldfish and now Iron Tiger: we’ve all been talking about targeted cyber attacks for so long now that it sometimes pays to stand back and take stock of exactly where we are as an industry. That’s what we have done with a new piece of research in partnership with Quocirca surveying attitudes towards these advanced, highly covert threat campaigns. We asked 500 European IT decision makers whether they thought targeted attacks had increased of late; the potential impact on their respective organisations; and what steps they’d take to mitigate such attacks.
The findings prove that senior IT leaders are finally waking up to the threat, as more and more of their peers are humbled by these laser-focused attacks. Continue reading →