Financial institutions see spike in threats linked to COVID-19
Almost three-quarters (74 percent) of banks and insurers have experienced a rise in cybercrime since the pandemic began according to a new report.
The findings released today by by BAE Systems Applied Intelligence, the cyber and intelligence arm of BAE Systems, as part of The COVID Crime Index 2021 analyze the changing nature and impact of fraud, risk and cyber threats on UK and US financial institutions and consumers over the last 12 months
Cost of ransomware more than doubles in a year
The average total cost of recovery from a ransomware attack has more than doubled in a year, increasing from $761,106 in 2020 to $1.85 million in 2021.
The latest Sophos State of Ransomware report also reveals that the average ransom paid is now $170,404, but that only eight percent of organizations managed to get back all of their data after paying a ransom, with 29 percent getting back no more than half of it.
Lack of asset visibility leads to more security incidents
Widening visibility gaps in cloud infrastructure, end-user devices and Internet of Things (IoT) device initiatives are leading to increased risk and security incidents according to a study carried out by Enterprise Strategy Group (ESG) for Axonius.
More than 70 percent of respondents report that additional complexity in their environments has contributed to increasing visibility gaps. More than half cite the rapid shift to remote work and changes to technology infrastructure necessitated by security and privacy regulations as key reasons for this increased complexity.
Majority of enterprises lack mature data strategy
A new study reveals that 70 percent of enterprises lack a mature data strategy. The study from cloud migration and managed services company 2nd Watch finds only 26 percent have any data strategy at all.
Most organizations recognize the importance of comprehensive data management though with 60 percent of respondents claiming to have an enterprise-wide data catalog.
CFOs want to see value from digital transformation investments
Digital transformation is a priority for 80 percent of CFOs and 71 percent believe that these investments are key to their company's success.
This is according to a global survey of more than 1,500 CFOs and senior financial leaders by enterprise software services company Rimini Street which also shows that CFOs are keen to see IT investments deliver value.
How government agencies are adapting to remote working [Q&A]
The last year has seen all businesses facing a major shift as employees have been forced to work from home.
Government agencies have been no exception to this, but they have specific issues relating to handling sensitive data. Last month the US Department of Agriculture (USDA) announced a plan to expand remote work options and other agencies are expected to follow suit.
How cybercriminals are targeting healthcare organizations [Q&A]
Researchers at digital risk protection company CybelAngel recently tracked bad actors targeting French hospitals by analyzing conversations on the dark web.
It discovered how cybercriminals plan healthcare-related fraud, ransomware and other attacks by obtaining stolen credentials, leaked database files and other materials from specialized sources in the cybercrime underground.
So you want to work in ransomware?
You would think that getting to work for a ransomware gang would be a bit different from applying for a normal IT job.
However, after following up a post on a forum a researcher at CyberNews managed to get an interview with the Ragnar Locker ransomware operators which reveals a surprisingly corporate approach to recruitment and remuneration as well as uncovering some of how the gangs operate.
Businesses turn to alternative cloud providers
Over half of organizations are considering adding one or more cloud infrastructure providers in 2021, and the extra supplier will be drawn from an alternative cloud vendor.
A new report by Accelerated Strategies and Linode shows that for small and midsized companies usage of alternative providers -- such as OVH, Linode, DigitalOcean, Hetzner, UpCloud and Equinix -- is on par with Google Cloud.
Pandemic leads to new challenges for IT security teams
IT security teams have faced a range of challenges in the last year thanks to dramatically expanded work-from-home programs, increased BYOD use, and rising internal and third-party risks arising from the COVID-19 pandemic.
The latest Cyberthreat Defense Report from CyberEdge shows 86 percent of organizations experienced a successful attack, up from 81 percent the previous year, the largest year-on-year increase in six years.
Why Zero Trust is key to data protection [Q&A]
Since the idea of Zero Trust was first proposed back in 2010 it's sparked interest from organizations of all sizes.
But why is Zero Trust seen as a game changer when it comes to protecting organizations and data? We spoke to Jason Clark, chief security and strategy officer at Netskope to find out.
QR code use rises but consumers don't recognize the potential dangers
A side effect of the COVID-19 pandemic has been a rise in QR code usage as the need for touchless transactions has increased.
A new study from automation platform Ivanti reveals that 83 percent of respondents say that they used a QR code to make a payment (or complete a financial transaction) for the first time ever since March 2020, with 54 percent doing so past three months alone.
61 percent of companies hit by ransomware in 2020
The latest State of Email Security report from Mimecast, based on a study of over 1,200 IT and cybersecurity leaders, shows businesses faced unprecedented cybersecurity risks in 2020.
Ransomware impacted 61 percent, a 20 percent increase over last year's report, while 79 percent say their companies experienced a business disruption, financial loss or other setback in 2020 due to a lack of cyber preparedness.
Hybrid working to become the new norm for tech pros
A new survey shows that 86 percent of technology professionals in the UK and Europe don't want to return to the office full-time.
The study from tech job marketplace hackajob finds around one in four (26 percent) would like to work remotely permanently, while 60 percent are happy to work from the office occasionally and spend the rest of the week working from home.
Businesses keen to adopt AI despite challenges
The popularity of enterprise AI continues to grow but practices and maturity are stagnant as organizations run into challenges implementing AI within their organizations.
The annual AI Adoption in the Enterprise survey from learning platform O'Reilly finds a lack of skilled people and difficulty hiring topped the list of challenges to adopting AI, cited by 19 percent of respondents. This compares to last year when 22 percent named company culture as the major barrier.
Ian's Bio
Ian spent almost 20 years working with computers before he discovered that writing about them was easier than fixing them. Since then he's written for a number of computer magazines and is a former editor of PC Utilities. Follow him on Mastodon
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