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Brace #Yourself For #More than 10 #Billion #Cyberattacks in #2018

Source: National Cyber Security News

The internet is a dangerous place. In 2017 alone, we experienced the Equifax hack, the WannaCry ransomware attack, and the rise of Logan Paul. And according to a new report released by cyber threat research firm SonicWall on Thursday, it’s probably only going to get worse.

SonicWall’s report outlines cybersecurity trends from the past year that are likely to continue into 2018. One of the main takeaways? Malware is back in a big way.

The previous high for yearly malware attacks was set in 2015, before slightly dipping in 2016. But SonicWall found that the incidence of malware attacks shot up again in 2017, setting a new record of 9.32 billion attacks. Last year’s jump was an 18 percent increase over 2017. If the incidence of malware attacks increases at the same rate this year, we could see nearly 11 billion malware attacks in 2018.

It’s not particularly surprising that people are launching cyber attacks with increasing regularity. As technology improves, the barriers to hacking are lessening, and rapid advances in artificial intelligence will make attacks more cost-effective and efficient.

Another key finding from the report is that while total malware attacks increased, ransomware attacks actually dropped by 71 percent.

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Cybersecurity: The #Tech #Companies More #Important than the #FANGs.

Source: National Cyber Security – Produced By Gregory Evans

The products and services provided by the behemoths of the tech industry may seem indispensable, and the most fundamental features of the technological environment, however, there are a group of less glamorous firms that arguably are the necessary foundations of the whole industry: cybersecurity firms.

Cybersecurity is defined as the measures taken to ensure protection against unauthorised or criminal use of electronic data.

The world has become acutely aware in recent years that data is the new oil- and reserves are plentiful and exponentially growing. The amount of data in the digital world is growing so rapidly due to trends such as the ‘internet of things’ and ‘bring your own device’ (BYOD); the enormous amount of devices connected to the internet makes data abundant and cybersecurity a constant war ground.

The main antagonist in the cybersecurity realm is ransomware which is a pernicious software emanating from cryptovirology that poses the threat of making a victim’s data public, or permanently blocking access to it, unless a ransom is paid.

Therefore, as more data is created, more ransomware will inevitably be deployed. The ubiquity of ransomware is debilitating for anyone with data and internet access, but it represents a pot of gold for cybersecurity firms – the mercenaries of the technological age.

The Casualties

Everyone reading this will likely be aware of some large organisation that has been attacked by ransomware during 2017. Ransomware victims range from multinational companies such as Equifax and WPP to state institutions such as the NHS.

One of the most malicious attacks that has been seen was this year’s ‘WannaCry’ attack, which impacted 230,000 computers and 10,000 companies throughout 150 countries.

WannaCry infected 47 NHS hospitals, starkly highlighting the callous nature of these attacks. They are not just against multi-billion dollar institutes that are considered to line the pockets of the top 1%, but are also instigated much like actual warfare and terrorism, with no consideration for the innocence or relevance of its victims.

No sector is immune from cyber attacks and over 20% of institutions in financial services, education, entertainment, media, IT and telecoms have all been targeted recently.

One reason for the rapid increase in attacks is that it is becoming increasingly easy to launch a malware attack due to the ability to hire malware. By having the option to hire malware, criminals can launch attacks online with rented viruses which in turn opens up the battlefield to low-skilled, street criminals as well as highly-educated criminals.

The Figures

The opportunities available to cybersecurity firms are plentiful, providing they have the ability to innovate and stay ahead of the malware. The industry is so dynamic as attackers are constantly evolving and producing more vicious, efficient attacks and providing cybersecurity firms can produce the solutions to these attacks: they are indispensable to helpless victims.

The growth that has already been witnessed in this industry is evidence of the huge future potential for growth: the global cybersecurity market was worth $3.5bn in 2004, $64bn in 2011, $138bn in 2017, and is projected to be worth $232bn by 2022.

Furthermore, the US Bureau of Labor Statistics reports that by 2024 there will be an increase in the demand for cybersecurity staff by 36% – double the demand compared to digital workers in other fields.

The vast increase in demand for workers in cybersecurity corroborates the notion that this industry is on track to being one of the most important and lucrative sectors out there.

The Firms

Fortinet is arguably the market leader in cybersecurity and has a very large, diverse product base which enables it to trade with large and small firms. Its reports from 2017 Q1 showed a 20% increase in revenue and an increase in net income of 410% YTD, taking it to $10.7 million. Fortinet’s expected revenue for the entire year is estimated at $1.77bn.

CyberArk Software primarily focuses on protecting internal digital infrastructure, keeping privileged accounts safe, which includes the most sacred and hence potentially dangerous data.

In essence, if an attack manages to breach an initial firewall, CyberArk’s security will keep the crown jewels safe. CyberArk currently has flat earnings but is debt free and has amassed cash assets of $287m.

Furthermore, CyberArk is one of the pioneering companies in the industry and has an impressive client list of 3,200 and does business with 45% of Fortune 100 companies. Additionally, CyberArk acquired Conjur this year ($42m) which will allow it to expand into other areas of security.

Palo Alto Networks focuses on protecting data infrastructure and sells its products and services to 85 of the Fortune 100 companies. This year adjust EPS rose 32.6% to $0.61 and the 3Q revenue report showed a record of $432m, as well as gaining the second highest number of new customers since the business began.

Going Forward

It is clear that the growth potential for cybersecurity is enormous. In fact, some might even say that it is terrifying how dependent society will be on this industry in the near future. People must also not approach cybersecurity in a myopic sense and assume that it only has applications for large firms that have the capital to pay high-price ransoms.

The futuristic phrase of ‘cyberwarfare’ may seem reserved for the cinema screens, however, if hackers sitting in their bedrooms can wreak havoc on some of the biggest institutions in the world, imagine what a government-funded group of experienced, ruthless ‘cyber soldiers’ could do. Less than 10 countries have nuclear capabilities but any country with an internet connection could have access to cyber arms.

Conclusion

Finishing on a more positive note, cybersecurity is currently one of the most highly paid careers in technology with 39% of its employees earning more than £87,000 and 75% earning more than £47,000.

In the past, one would have to risk their lives for almost no remuneration to complete patriotic duty. Now, one can fulfil this moral craving whilst sitting at home, rather than in a dilapidated barracks.

The post Cybersecurity: The #Tech #Companies More #Important than the #FANGs. appeared first on National Cyber Security Ventures.

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Google: Our #hunt for #hackers reveals #phishing is far #deadlier than #data #breaches

Source: National Cyber Security – Produced By Gregory Evans

Google has released the results of a year-long investigation into Gmail account hijacking, which finds that phishing is far riskier for users than data breaches, because of the additional information phishers collect.

Hardly a week goes by without a new data breach being discovered, exposing victims to account hijacking if they used the same username and password on multiple online accounts.

While data breaches are bad news for internet users, Google’s study finds that phishing is a much more dangerous threat to its users in terms of account hijacking.

In partnership with the University of California Berkeley, Google pointed its web crawlers at public hacker forums and paste sites to look for potential credential leaks. They also accessed several private hacker forums.

The blackhat search turned up 1.9 billion credentials exposed by data breaches affecting users of MySpace, Adobe, LinkedIn, Dropbox and several dating sites. The vast majority of the credentials found were being traded on private forums.

Despite the huge numbers, only seven percent of credentials exposed in data breaches match the password currently being used by its billion Gmail users, whereas a quarter of 3.8 million credentials exposed in phishing attacks match the current Google password.

The study finds that victims of phishing are 400 times more likely to have their account hijacked than a random Google user, a figure that falls to 10 times for victims of a data breach. The difference is due to the type of information that so-called phishing kits collect.

Phishing kits contain prepackaged fake login pages for popular and valuable sites, such as Gmail, Yahoo, Hotmail, and online banking. They’re often uploaded to compromised websites, and automatically email captured credentials to the attacker’s account.

Phishing kits enable a higher rate of account hijacking because they capture the same details that Google uses in its risk assessment when users login, such as victim’s geolocation, secret questions, phone numbers, and device identifiers.

The researchers find that 83 percent of 10,000 phishing kits collect victims’ geolocation, while 18 percent collect phone numbers. By comparison, fewer than 0.1 percent of keyloggers collect phone details and secret questions.

The study finds that 41 percent of phishing kit users are from Nigeria based on the geolocation of the last sign-in to a Gmail account used to receive stolen credentials. The next biggest group is US phishing-kit users, who account for 11 percent.

Interestingly, the researchers found that 72 percent of the phishing kits use a Gmail account to send captured credentials to the attacker. By comparison, only 6.8 percent used Yahoo, the second most popular service for phishing-kit operators. The phishing kits sent were sending 234,887 potentially valid credentials every week.

Gmail users also represent the largest group of phishing victims, accounting for 27 percent of the total in the study. Yahoo phishing victims follow at 12 percent. However, Yahoo and Hotmail users are the largest group of leaked credential victims, both representing 19 percent, followed by Gmail at 12 percent.

They also found most victims of phishing were from the US, whereas most victims of keyloggers were from Brazil.

The researchers note that two-factor authentication can mitigate the threat of phishing, but acknowledges that ease of use is an obstacle to adoption.

The post Google: Our #hunt for #hackers reveals #phishing is far #deadlier than #data #breaches appeared first on National Cyber Security Ventures.

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Why We Need to Worry More Than Ever About Getting Hacked

Source: National Cyber Security – Produced By Gregory Evans

The narrative around hacking has changed. Thanks to the proliferation of high-profile hacks in recent years, we’re no longer asking ourselves, “What if?” Now, the question is, “When?” After all, if a powerhouse with unlimited resources like HBO is vulnerable to a hack, surely anyone is susceptible. It can be…

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DHS: Cyberattack greater threat than bombs

Source: National Cyber Security – Produced By Gregory Evans

Much has been said in the past month about Guam’s military readiness in the event of a missile attack, with most of the rhetoric spurred on by media fervor surrounding direct threats to Guam from North Korea. Adelup officials, facing the international spotlight for days, essentially repeated the same statement:…

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Colorado Springs police estimate more than 100 victims of alleged identity thief

Source: National Cyber Security – Produced By Gregory Evans

Police estimate that more than 100 people fell victim to a 32-year-old man’s alleged pattern of identity theft in Colorado Springs. Armando Gallegos allegedly manufactured checks using others’ account information and then used the checks at local businesses. He was arrested Aug. 23 in one of the five cases of…

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Whittier man accused of impersonating pharmacist for more than a decade, for a second time

Source: National Cyber Security – Produced By Gregory Evans

A Whittier man accused of stealing a pharmacist’s identity and working as an unlicensed pharmacist in the Los Angeles area for more than a decade, for the second time, appeared in court Thursday. Benito Plascencia, 58, faces six felony charges and one misdemeanor charge in the case, California Department of…

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Employees Pose Bigger Threat to Cybersecurity Than Hackers

Source: National Cyber Security – Produced By Gregory Evans

As the world becomes increasingly dependent on technology, the potential for data theft or system shutdown from a breach in cybersecurity looms large. IT professionals and law enforcement teams are scrambling to keep up with cyber criminals who are utilizing the latest sophisticated methodologies. Over the past year, 32% of…

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Good-looking individuals are treated better than …..

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Africa is least committed to cybersecurity than the rest of the world

To Purchase This Product/Services, Go To The Store Link Above Or Go To http://www.become007.com/store/ Source: National Cyber Security – Produced By Gregory Evans Global cybersecurity threats are real and there is an ongoing malware attack after the recent WannaCry ransomware that infected millions of computers …

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