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Tag Archives for " cybersecurity "

Cyberattacks cost small companies $200K, putting many out of business

About 43% of cyberattacks are aimed at small businesses. On average, these cost $200,000, putting 60% of these companies out of business in six months.

At the same time, though, 66% of senior decision-makers at small businesses still believe they’re unlikely to be targeted by online criminals. Similarly, 6 in 10 have no digital defense plan in place whatsoever, underscoring the need for heightened industry awareness and education across the board.

Source: Cyberattacks cost small companies $200K, putting many out of business

Remote Simjacking campaigns could disrupt SIM cards in 29 countries

Adaptive Mobile Security has published a new report detailing SimJacker attacks and the number of countries affected. The report identified 29 countries across five continents to which mobile operators ship SIM cards vulnerable to Simjacker attacks.

The countries include Mexico, Dominican Republic, Brazil, Peru, Saudi Arabia, Iraq, Italy, Bulgaria, Nigeria, Ivory Coast and more. Of the 29 countries, customers of a total of 61 mobile operators are currently using vulnerable SIMs with S@T Browser toolkit.

Source: #Privacy: Remote Simjacking campaigns could disrupt SIM cards in 29 countries

Study Finds Rampant Lapses in Securing Access to Sensitive Information

Sila Solutions Group, a North American technology and management consulting firm, in partnership with the Ponemon Institute, a leading research organization on data protection and emerging information technologies, today released the results of The 2019 Study on Privileged Access Security.

70 percent think it likely that privileged users within their organizations are accessing sensitive or confidential data for no discernible business need and more than half expect privilege user abuse to increase in next 12-24 months.

According to respondents, privileged access rights also regularly remain active even after a role change (30 percent). 62 percent of participants felt it likely that their organization assigns privileged access rights that go beyond an individual’s role or responsibilities. This proliferation of access is emphasized with more than 75 percent of respondents having privileged access to three or more IT resources.

Source: Sila and Ponemon Institute Study Finds Rampant Lapses in Securing Access to Sensitive Information

Organisations worldwide failing to adequately protect sensitive data in the cloud, study finds

A new global study from Thales, with research from the Ponemon Institute, has exposed an increasing disparity between the rapid growth of data stored in the cloud and an organisation’s approach to cloud security.

Although nearly half (48%) of corporate data is stored in the cloud, only a third (32%) of organisations admit they employ a security-first approach to data storage in the cloud.

Source: #Privacy: Organisations worldwide failing to adequately protect sensitive data in the cloud, study finds

Phone numbers users provided for security Twitter used for ad

Twitter revealed Tuesday that it mishandled an unspecified number of users’ email addresses and phone numbers, allowing that data to be used “inadvertently” for advertising purposes.

The incident marks the latest security mishap for the social-networking company, but one that could carry with it some legal headaches. Federal regulators penalized Facebook earlier this year for a similar situation.

Source: Twitter security mishap: Users’ phone numbers were ‘inadvertently’ used for ad purposes – The Washington Post

Non-disclosure of Data Breaches Negatively Affects Acquisitions and Mergers

A recent study has shown that a company’s cybersecurity program, and how it has handled any history of data breaches, has a significant impact on its monetary sales value.

The report, by (ISC)2, asked 250 US-based mergers and acquisitions experts looking at the importance of a company’s cybersecurity program, and how much of an impact its breach history has on its valuation ahead of a potential acquisition.

Their findings revealed that 49% of those experts have seen deals completely derailed after due diligence brought an undisclosed breach to light. Furthermore, 86% of respondents said that if a company publicly reported a breach of customer or other critical data in its past, it would detract from the allocated acquisition price.

Source: #SECURITY: Non-disclosure of Data Breaches Negatively Affects Acquisitions and Mergers

Cyber-attacks remain the biggest business risk in Europe and US

A report by the World Economic Forum (WEF) revealed that ‘fiscal crises’ was the leading risk to global businesses. The report, Regional Risks for Doing Business 2019, surveyed 13,000 business leaders across 130 countries.

Although cyber-attacks was the second highest business risk globally, it was especially a major concern among top business leaders in Germany, France, Italy and the UK. The report stated how 61% of businesses reported cyber incidents, in comparison to 45% in the previous year.

Source: #Privacy: Cyber-attacks remain the biggest business risk in Europe and US

Danish company reveals a possible ransomware loss of $95m

Demant, a hearing aid company, has revealed that it is expected to incur losses of up to $95 million, following a ransomware attack.

In a company announcement, on September 3, the company had experienced a critical incident on their internal IT Infrastructure.

In the announcement, the company stated that is was able to assess the financial impact of the incident, and it was found that the total negative financial impact on the firm ranged from DKK 550-560m ($80-95m). This figure also includes a deduction of DKK 100 ($15m) from insurance coverage.

Source: #Privacy: Danish company reveals a possible ransomware loss of $95m

New US ransomware bill passed

The US Senate has passed a bill that is aimed to protect public institutions like schools and law enforcement, from ransomware.

The DHS Cyber Hunt and Incident Response Teams Act would authorise the Department of Homeland Security (DHS) to create teams to help both private and public entities defend against attacks.

Additionally the cyber hunt and incident response teams, will provide support and technical advice, as well as provide incident response assistance.

Source: #Privacy: New US ransomware bill passed

Poor data security has serious consequences for global business

New research published by secure payments provider, PCI Pal, demonstrates a major shift in the way global consumers think about and react to cyber-security breaches.

According to the study, 44% of Americans, 38% of Brits, 33% of Australians, and 37% of Canadians have been the victim of a data breach.

Source: #privacy: Poor data security has serious consequences for global business, study finds

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