College Papers

In the age of mobility, modern companies are

 

In the age of mobility, modern
companies are continuously being exposed to Cybersecurity with the average
cost of a breach in South Africa at R32 million and global ransomware
damages set to exceed $5 billion.

See the numbers behind the threats companies faced
in the past year:

 

1.
Ransomware

Ransomware is
currently many hacker’s preferred method of attack—and it’s often the most
elusive, making even the most sophisticated IT security systems
ineffective.

According
to think-tank Cybersecurity Ventures,
the number of global ransomware attacks on businesses in the last two
years are up 15X—with damages predicted to exceed $5
billion.  

To put
that into perspective, the FBI reports that more
than 4,000 ransomware attacks occur per day, a
300% increase from 2015.

 

 

 

 

2. Overconfident Users

78% of people claim
to be aware of the risks of unknown email links and yet click them anyway.

Friedrich-Alexander University (FAU)

 

 

Perhaps most startling was
a study by Friedrich-Alexander
University (FAU), where 78 percent of
participants stated that they were aware of the risks of unknown email links
and of their computer
becoming infected with a virus, but clicked
the link anyway!

The top reason people said that they clicked? Curiosity!

3. Malware

In Q3, 2016 alone,
18 million new malware samples were captured.

Panda Labs

That’s an average of
200,000 per day! Malware continues to grow and evolve to bypass your antivirus and
other levels of protection, which makes it hard for your IT team, your vendors,
and your company to keep up.

4. Phishing

The amount of
phishing emails containing a form of ransomware grew to 97.25%.

PhishMe 2016 Q3 Malware Review

Phishing emails have continued
to grow as an attack method for ransomware. PhishMe
reported that a shocking 92% of phishing emails they collected containing
ransomware in the first quarter of 2016. But their findings from Q3 2016 pushed
the number even further to 97.25%.

5. Employee
Security Risk

Despite
organization’s best attempts at education, employees continue to create
business security risk.

The
increase of employees working remotely, using “bring your own” mobile devices
(BYOD) and networks (BYON), and poor password habits has become one of the
greatest vulnerabilities.

Cisco
reports that Wi-Fi and mobile devices
will make up two-thirds of internet traffic by 2020, and the number
of IoT devices will increase from 16.3 billion to 26.3 billion during that
time.

Cybersecurity
systems are designed to alert security teams of suspected threats—but where
employees’ actions and private devices are concerned, relying on standard Cybersecurity systems alone may not be
enough to ensure an effective response.

 

All Is Not Lost

If all these Cybersecurity facts have left you feeling
overwhelmed, Niel Malan, Head of Nimbus Digital’s Cyber Security Division
advises, “Start by identifying your most valuable assets and protect those.

Begin with the information that, if it were stolen, would
put you out of business.”

Malan reminds us, “At the end of the day, cyber security is
not just about stopping security breaches from happening. It’s about putting
security measures in place that allow you to run your business with
consistency, continuity and confidence.”