Organisations also now face exploding volumes of newer and more sophisticated threats because malware and ways to exploit it are now readily available in online marketplaces. There is a very real hacker-enablement supply chain in both the dark web and traditional outlets that readily shares basic hacking tools and code, allowing many more cyberthieves to execute successful attacks. In addition, hackers are now less often individual “geeks” and more likely to be well-funded technology experts supported by organized crime or even governments. This trend, combined with ever-increasing network speeds, means that stopping cyber attacks is now a big data problem that stands to overwhelm older network protection technologies.
Email fraud is nothing new, but online criminals have become ever more-effective at spoofing their identities to trick employees into sending them money. The Australian Centre for Cyber Security (ACSC) recorded losses of over $20M to business email compromise (BEC) attacks last year alone, up 230 percent over the previous year – and the full amount is certain to be much larger.
Cybersecurity Insights - Attack
No matter how robust your security, or how diligent your employees, network credentials are a free pass for cybercriminals. This is mostly because employees are relied upon for their own password management. And with more than 4.8 billion sets of stolen credentials said to be available online, odds are that at least a few of your employees’ user IDs and passwords are just waiting to be used by unscrupulous outsiders. Are you ready to stop them?
Cybersecurity Insights - People
Cyber resilience will be particularly important as Australian organisations face increased pressure to quickly detect, respond to, and manage the repercussions of breaches in the wake of 2018’s Notifiable Data Breaches (NDB) scheme.