Online Trust Alliance Discloses that 2017 was the Nastiest Time Ever for Cybersecurity Attacks

“Cyber Breach & Incident Trends Report” of the Online Trust Association has disclosed that 2017 was the “nastiest time ever” for cybersecurity attacks. The business trusts that, computed using the number of informed infringements, there were almost twofold as many cybersecurity happenings as in 2016.

“Cyber Breach & Incident Trends Report” of the Online Trust Association includes more than a simple analysis of the last year’s cybersecurity attacks. The business looks into how the events occurred to find out tendencies, and what might have been done to evade the events so that companies can become accustomed to correct measures to safeguard themselves versus future occurrences.

The group thinks that the report’s headline number of 159,700 cybersecurity happenings is an estimate computed using the number of cyber events informed during the 3rd quarter of 2017. As the report discloses, many cases aren’t officially informed, and the true figure might be much greater than this. Nevertheless, using the same standards, the group estimated the number of cybersecurity happenings in 2016 at 82,000 – signifying that there were almost two times as many in 2017.

Cybersecurity Attack Tendencies

The conspicuous tendencies in cybersecurity happenings defined by the Online Trust Association will not be a surprise to usual readers to Network Safety News. Ransomware attacks saw the biggest increase in quantities, nevertheless a different type of ransom-based attack – the Ransom Denial-of-Service (RDoS) attack – was also noticed as developing more prevalent amongst cybercriminals. In this type of attacks, cybercriminals frighten a Dedicated Denial-of-Service (DDoS) attack unless there’s an advance ransom reimbursement made.

The unit also mentioned the point that the latest risk dangers generated by the development of IoT appliances, and an 85% increase in malicious electronic mail. The growth in malicious mail comprised a 90% increase in company-targeted ransomware as well as a rise in the quantity of BEC attacks. It was assessed there had been a four-fold increase in the number of records breached in 2017 and an assumed loss to US firms of $1.6 billion because of to BEC attacks informed to the Federal Bureau of Investigation (since 2015).

Happenings Are Preventable

Those who accumulated the report contend that 93% of breaches might have been prevented with appropriate measures as well as due diligence. The main preventable factors resulting in happenings were the failure to continuously repair software weaknesses and implementation of proper controls to halt insider thievery or the unintentional disclosure of private info. Since most successful ransomware attacks are started by malicious electronic mails, the report proposes not sufficient is being done to avoid spam and coach users to find phishing attacks.

Other subjects mentioned as being avoidable reasons for cybersecurity happenings comprised:

  • The lack of a sufficient risk assessment to include external and internal associates and cloud-based or third-party businesses.
  • Incorrectly configured devices and servers, and obsolete applications and operating systems that no more had a legal back up.
  • The failure to securely manage encryption keys and sufficiently encrypt data. The absence of encryption resulted in a thievery of data when drives and devices are stolen, lost or digitally hacked.

Reports Deductions

The “Cyber Breach & Incident Tendencies Report” doesn’t disclose anything that most healthcare IT employees aren’t already informed of. Nevertheless, it does work like a decent precis of best practices companies should apply to minimize the danger of cybersecurity happenings. The one specifically pertinent point made in the statement mentioned that “privacy and security aren’t perfect and should evolve”. Companies are instructed to consistently revise their procedures for generating, maintaining as well as sending data, principally in light of developing latest technologies, threats and the new law.