Tag: Cyber Security

cyber security

Understanding ransomware and the impact of repeated attacks

We know ransomware is one of the greatest threats in Cyber Security currently, and we know that once your organisation has been hit, you’re likely to be targeted again. But how much do we understand its impact?

To gain greater insight into the risks of repeated ransomware attacks, we took a look at The State of Endpoint Security Today. This report details the findings of a survey polling more than 2,700 IT decision-makers from mid-sized businesses across ten countries.

Despite the splash ransomware made in 2017, the survey found that organisations are still not fully prepared to face today’s rapidly-evolving threats.

What was the impact of ransomware in 2017? For starters, more than half of organisations surveyed were hit with a ransomware attack last year, most more than once. Traditional antivirus alone appears to be insufficient, as 75% of the organizations surveyed were running up-to-date endpoint protection when the ransomware attack occurred.

Perhaps unsurprisingly, the survey also found that ransomware attacks are expensive. The median total cost of an attack was £100,000 – not just the cost of the ransom, but lost hours, downtime, device and network costs, and lost opportunities. And when a business was hit hard, it got costly fast: 5% of respondents reported ransomware attacks that cost £1.1 to £6.4 million.

Arguably more telling than the ransomware statistics revealed by this report are the findings uncovered about exploits and anti-exploit technology. Nearly 70% of IT professionals weren’t able to correctly define anti-exploit technology, even while understanding that it is critical to prevent modern, evolving attacks.

More than half of organisations don’t yet have anti-exploit technology, leaving them open to falling prey to these effective tactics by hackers.

There is a lack of understanding around predictive, next-generation technologies like machine or deep learning, with more than half (56%) admitting they don’t fully understand the differences between machine and deep learning. Though the understanding of the need for predictive, next generation technology is trending in the right direction – 60% of respondents are planning to implement such technology within a year – currently only 25% have such technology in place.

The state of endpoint protection and how current attacks are impacting users and administrators may be worrying, but we’ve got good news…

There is a solution to stop ransomware in its tracks, employs deep learning to identify malicious or potentially unwanted files without having ever seen them before and uses anti-exploit technology to block the techniques attackers use to control vulnerable software.

To discuss further how this could work for your organisation email sales@cyboar.co.uk

Compliance, cyber security, GDPR

What is… GDPR?

Whether you’re a family bakery in Birmingham that keeps a list of local delivery addresses, or a multinational giant headquartered outside Europe that sells globally online, the EU’s General Data Protection Regulation almost certainly applies to you.

GDPR is short for General Data Protection Regulation, and it’s the name of a law in the European Union (EU) that sets out to protect the rights of individuals in respect of their data.

Loosely speaking, any organisation that holds data about any resident of the EU is expected to comply.

Whether you’re a family bakery in Estonia that keeps a list of local delivery addresses, or a multinational giant headquartered outside Europe that sells globally online, GDPR applies to you.

GDPR was adopted as an EU law in April 2016, but the regulators decided to give us all plenty of time to become compliant, so the law only takes effect in May 2018.

That’s just as well, because although it’s officially just “a regulation”, GDPR runs to 11 Chapters, 99 Articles and several hundred pages of legislation.

Indeed, GDPR covers a lot more issues than many people realise.

You’ll often hear GDPR mentioned as though it were concerned mainly with mistakes – in other words, that it’s mostly about data breaches and data breach notifications.

In fact, only three of the 99 Articles actually deal with breaches, because GDPR is more of a digital privacy lifestyle guide, covering all aspects of personal data and how you use it.

Amongst other things, GDPR deals with the data you collect in the first place, how you tell people what you are going to do with it, what you actually do with it, how you store it securely, whom you allow to access it, and – the part that seems to attract the most interest and attention – what happens if you fail to comply.

Falling foul of GDPR means the possibility of a fine, and GDPR fines can go significantly higher than most laws that existed around Europe before GDPR came in.

At the very worst, GDPR penalties can go up to €20,000,000 or 4% of your global annual turnover, whichever is bigger.

Of course, the regulators aren’t compelled to impose penalties that large, and it is reasonable to assume that they won’t blindly plump for the maximum every time, so we shan’t know how big the fines are likely to be until the first few have been handed out.

In short: GDPR will standardise data protection across the EU; if you do business in Europe you almost certainly need to comply; the law may seem onerous, but in a world with as many breaches as we have had in recent years, GDPR seems like just the sort of regulation we need; and you can expect to end up in hot water if you don’t comply.

Oh, to be clear: GDPR applies in the UK, which is currently part of the EU, and will effectively apply even after the UK leaves the EU, because the government plans to pass a local law that will mirror GDPR.

For more information regarding GDPR or how to become compliant contact sales@cyboar.co.uk.

Source: Sophos
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