Security News for July 2018

1. Security News for July 2018 Not a single computer system is immune to security threats. Attack risks are even higher for business systems, which are common targets for many different kinds of security and information breaches due to their pertinence in corporate IT environments. Because no IT system is impervious to security threats, it is critical for any operation, regardless how big or small, what to do is necessary in order to protect their network. Finding the right solutions requires knowing what types of risks your IT environment faces. Identifying these risks requires regular assessment and a constant monitoring of the various threats that put industries and organizations in the line of IT danger. Halfway into 2018, there have already been increasing reports of data breaches along with ransomware attacks, as cybercriminals become even more skilled in using highly complex methods to monetize cyber attacks. Over the first two quarters, corporations after corporations have fallen victim to different kinds of ransomware attacks, causing them great business. The consequences of these increasingly sophisticated attacks are nothing short of devastating, often paralyzing operations and leaking out crucial data and information, which are more often than not, the lifeblood of a business. Defense against ransomware and similar security attacks and data breaches calls for proactive steps, which are not only designed to fix the problem as they happen, but even more importantly, minimize the odds of ransomware and cyber-attacks from penetrating your system. The right approach to security can save your company tens of thousands to millions in losses as you successfully protect your corporate IT environment from data loss, operational interruptions, and all other consequences that come with cyberattacks. According to Verizon’s recently released annual data breach investigations report for 2018, ransomware is currently the most common form of malicious software, found in at least 39% of malware-involved data breaches over the last six months. Furthermore, 68% of these data breaches took a very long time to discover (months or more). In 87% of these cases, data were compromised within minutes of the attack. The report analyzed over 2,216 breaches and 53,000 security incidents from a total of 65 countries. Ransomware has been doubling in number, year in and year out, over the recent past. According to Gabe Basset, co-author of the Verizon report, the reason for such prevalence and growth of/in ransomware attacks is because these types of attack provide incredible value proposition for attackers, who only ever need to drop a malware into the victim’s system and let it run unnoticed in the background.