The week in security: Ransomware looms large as consumers’ tolerance for data breaches dwindles

Consumers are becoming increasingly intolerant of companies that fail to protect their data, surveys suggest, with looming breach-reporting laws likely to prompt some defections next year as consumers get a view of what’s really going on with their data.

The threat against their data is increasing as cybercriminals increasingly adopt machine-learning techniques to improve the efficacy of their attacks.

Yet ransomware continues to lead the list of concerns for many companies, who are looking for advice about how to protect themselves from the growing scourge.

Stung by this year’s WannaCry attack, the UK’s National Health Service has invested $35m in a security operations centre designed to reduce the security exposure that the attack revealed.

That wasn’t the only security stance taken in the EU over the week: Australian authorities helped their EU counterparts in its latest crackdown on ‘mules’ moving money that was generated through cybercrime.

Such financial movement reflects the international nature of cybercrime – but some were warning CSOs not to focus so much on nation-state attacks that they ignore much more mundane and common threats.

Uber was dealing with threats both mundane and common, after revealing that 2.7m UK users were affected by a data breach last year that has put the company in the firing line for failing to disclose the event for a considerable period.

Better cybersecurity resilience and visibility are likely to drive real business benefits over time, with fortune favouring the tech-savvy and transformation-minded companies pivoting towards more productive and secure relationships with customers and partners.

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Tags data securitydata protectiondata breachransomwarecyber security

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