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IT Managers are Inundated with Cyberattacks, Struggling to Keep Up, Says Sophos Global Survey

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Sophos, a global leader in network and endpoint security, has announced the findings of its global survey, The Impossible Puzzle of Cybersecurity, which reveals that IT managers are inundated with cyberattacks coming from all directions and are struggling to keep up due to a lack of security expertise, budget and up to date technology.

 

The survey polled 3,100 IT decision makers from mid-sized businesses in the US, Canada, Mexico, Colombia, Brazil, UK, France, Germany, Australia, Japan, India, and South Africa.

 

Cybercriminals Use Multiple Attack Methods and Payloads for Maximum Impact

The Sophos survey shows how attack techniques are varied and often multi-staged, increasing the difficulty to defend networks.

 

One in five IT managers surveyed didn’t know how they were breached, and the diversity of attack methods means no one defensive strategy is a silver bullet.

 

“Cybercriminals are evolving their attack methods and often use multiple payloads to maximize profits. Software exploits were the initial point of entry in 23 percent of incidents, but they were also used in some fashion in 35 percent of all attacks, demonstrating how exploits are used at multiple stages of the attack chain,” said Chester Wisniewski, principal research scientist, Sophos.

 

“Organizations that are only patching externally facing high-risk servers are left vulnerable internally and cybercriminals are taking advantage of this and other security lapses.”

 

The wide range, multiple stages and scale of today’s attacks are proving effective. For example, 53 percent of those who fell victim to a cyberattack were hit by a phishing email, and 30 percent by ransomware. Forty-one percent said they suffered a data breach.

 

Weak Links in Security Increasingly Lead to Supply Chain Compromises

 

Based on the responses, it’s not surprising that 75 percent of IT managers consider software exploits, unpatched vulnerabilities and/or zero-day threats as a top security risk.

 

Fifty percent consider phishing a top security risk.

 

Alarmingly, only 16 percent of IT managers consider supply chain a top security risk, exposing an additional weak spot that cybercriminals will likely add to their repertoire of attack vectors.

 

“Cybercriminals are always looking for a way into an organization, and supply chain attacks are ranking higher now on their list of methods. IT managers should prioritize supply chain as a security risk, but don’t because they consider these attacks perpetrated by nation states on high profile targets. While it is true that nation states may have created the blueprints for these attacks, once these techniques are publicized, other cybercriminals often adopt them for their ingenuity and high success rate,” said Wisniewski.

 

“Supply chain attacks are also an effective way for cybercriminals to carry out automated, active attacks, where they select a victim from a larger pool of prospects and then actively hack into that specific organization using hand-to-keyboard techniques and lateral movements to evade detection and reach their destination.”

 

Lack of Security Expertise, Budget and Up to Date Technology

According to the Sophos survey, IT managers reported that 26 percent of their team’s time is spent managing security, on average.

 

Yet, 86 percent agree security expertise could be improved and 80 percent want a stronger team in place to detect, investigate and respond to security incidents.

 

Recruiting talent is also an issue, with 79 percent saying that recruiting people with the cybersecurity skills they need is challenge.

 

Regarding budget, 66 percent said their organization’s cybersecurity budget (including people and technology) is below what it needs to be.

 

Having current technology in place is another problem, with 75 percent agreeing that staying up to date with cybersecurity technology is a challenge for their organization.

 

This lack of security expertise, budget and up to date technology indicates IT managers are struggling to respond to cyberattacks instead of proactively planning and handling what’s coming next.

 

“Staying on top of where threats are coming from takes dedicated expertise, but IT managers often have a hard time finding the right talent or don’t have a proper security system in place that allows them to respond quickly and efficiently to attacks,” said Wisniewski.

 

“If organizations can adopt a security system with products that work together to share intelligence and automatically react to threats, then IT security teams can avoid the trap of perpetually catching up after yesterday’s attack and better defend against what’s going to happen tomorrow.

 

“Having a security ‘system’ in place helps alleviate the security skills gap IT managers are facing. It’s much more time and cost effective for businesses to grow their security maturity with simple to use tools that coordinate with each other across an entire estate.”

 

Synchronized Security Solves the Impossible Puzzle of Cybersecurity

 

With cyberthreats coming from supply chain attacks, phishing emails, software exploits, vulnerabilities, insecure wireless networks, and much more, businesses need a security solution that helps them eliminate gaps and better identify previously unseen threats.

 

Sophos Synchronized Security, a single integrated system, provides this much needed visibility to threats by integrating Sophos endpoint, network, mobile, Wi-Fi, and encryption products to share information in real-time and automatically respond to incidents. More information about Synchronized Security is available at Sophos.com.

 

The Impossible Puzzle of Cybersecurity survey was conducted by Vanson Bourne, an independent specialist in market research, in December 2018 and January 2019.

 

This survey interviewed 3,100 IT decision makers in 12 countries and across six continents in the US, Canada, Mexico, Colombia, Brazil, UK, France, Germany, Australia, Japan, India, and South Africa. All respondents were from organizations with between 100 and 5,000 employees.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University.

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Join Inlaks Live TechTalk Edition on Hyosung’s Revolutionary MV 100 ATM Model

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Inlaks, the leading Information Technology Systems Integrator specialised in the deployment of highly scalable ICT Infrastructure solutions, will on Monday September 28, deploy the second edition of its virtual thought leadership segment called “TechTalk”.

Techtalk which was formerly a pre-recorded segment hosted on the organisations YouTube channel has now transitioned into a live virtual event across Instagram, Facebook, Twitter and YouTube. The virtual edition kicked off in August 2020 with a segment on Financial Crime Mitigation, honing in on the superiority of Temenos Financial Crime Mitigation Solution with Emmanuel Orororo, Sales Manager, Financial Business, Inlaks.

The 2nd edition of Tech Talk promises to offer the same measure of insights as it dives into the world of Automated Teller Machines (ATM) with a focus on MoniValue 100, a revolutionary ATM solution by Hyosung TNS. The MoniValue 100 is especially adapted to the present times as it is a cardless, contactless and changeless solution.

Join this virtual event live by logging on to any of the social media pages below on Monday, 28th September 2020. YouTube: Inlaks, Facebook: InlaksNg, Twitter: Inlaks, Instagram: InlaksNg

Inlaks is a leading system integrator in Sub-Saharan Africa. The company partners with leading OEMs in the technology industry to provide world-class information technology solutions that exceed the needs of its customers.

Over the years, Inlaks has built a reputation as the foremost ICT and Infrastructure Solutions Provider, helping customers effectively seize new market and service opportunities.

With an impressive customer base that includes six Central Banks in West Africa, 18 of the 24 banks in Nigeria and other major customers in the West African region, Inlaks has become the dominant Information Technology Company in Africa.

Inlaks’ customers cut across various segments including Banking, Telecommunication, Oil/Gas, Power, Utilities and the Distribution sectors of the economy. For more information, please visit www.inlaks.com


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Millions of Cyber Attacks Launched on Nigeria, Others- Reports

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There were 3.8 million malware attacks and 16.8 million Potentially Unwanted Applications (PUA) detections over a 7-month period in Nigeria, according to Kaspersky security solutions.

Millions of Cyber Attacks Launched on Nigeria, Others- Reports

Elsewhere in South Africa, there were almost 10 million malware attacks and a staggering 43 million PUA detections, showing the growing desperation of the attacks.

The company reported on 28 million malware attacks in 2020 and 102 million detections of potentially unwanted programs (pornware, adware etc.) accounted for by the beginning of August 2020.

These numbers show that it’s not only the malware that attacks users but also the “grey zone” programmes that grow in popularity and disturb their experiences, while users might not even know it is there.

Potentially unwanted applications (PUAs) are programmes that are usually not considered to be malicious by themselves.

However, they are generally influencing user experience in a negative way. For instance, adware fills user device with ads; aggressive monetising software propagates unrequested paid offers; downloaders may download even more various applications on the device, sometimes malicious ones.

calculating interim results of threat landscape activity in African countries, Kaspersky researchers noticed that PUAs attack users almost four times more often than traditional malware.

They also eventually reach more users: for instance, while in South Africa, the malware would attack 415,000 users in 7-months of 2020, the figure for PUA would be 736,000.

“The reason why ‘grey zone’ software is growing in popularity is that it is harder to notice at first and that if the programme is detected, its creators won’t be considered to be cybercriminals. The problem with them is that users are not always aware they consented to the installation of such programmes on their device and that in some cases, such programmes are exploited or used as a disguise for malware downloads,” said Denis Parinov, a security researcher at Kaspersky.

By taking a closer look at PUA, it becomes apparent that they are not only more widespread but also more potent than traditional malware.

Evaluating results over the same 7-month period in Nigeria, there were 3.8 million malware attacks and 16.8 million PUA detections – which is four times as much.

Kenyan and South African threat landscapes have been more intense. In South Africa, there were almost 10 million malware attacks and a staggering 43 million PUA detections.

Kenyan users faced even more malware attacks – around 14 million, and 41 million PUA appearances, Kaspersky said.


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Tech Giants Strike Deal with Advertisers over Hate Speech

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Web giants including Facebook have struck a deal with advertisers on how to identify harmful content such as hate speech, after an impasse over the issue which led to boycotts of the platform.

Tech Giants Strike Deal with Advertisers over Hate Speech

The agreement — which also included Twitter and YouTube — laid out for the first time a common set of definitions for hateful statements online.

In July, hundreds of advertisers including big-name consumer brands suspended advertising with Facebook as part of the #StopHateForProfit campaign, saying the social-media titan should do more to stamp out hatred and misinformation on its platform.

And earlier this month a group of celebrities — including Kim Kardashian, Leonardo DiCaprio and Katy Perry — stopped using Facebook and Instagram for 24 hours, to push a similar message.

The World Federation of Advertisers (WFA) said in a statement Wednesday: “Facebook, YouTube and Twitter, in collaboration with marketers and agencies through the Global Alliance for Responsible Media have agreed to adopt a common set of definitions for hate speech and other harmful content and to collaborate with a view to monitoring industry efforts to improve in this critical area.”

The alliance was founded by the WFA and includes other major trade bodies.

According to the WFA, key areas of agreement included applying the alliance’s common definitions of harmful content; developing reporting standards for such content; establishing independent oversight; and rolling out tools for keeping advertisements away from harmful content.

The WFA said that properly defining online hate speech would remove the current problem of different platforms using their own definitions, which it said made it difficult for companies to decide where to put their ads.

“As funders of the online ecosystem, advertisers have a critical role to play in driving positive change and we are pleased to have reached agreement with the platforms on an action plan and timeline in order to make the necessary improvements,” said Stephan Loerke, chief executive of the WFA.

Luis Di Como, executive vice-president of global media at Unilever, a major advertiser, sounded a note of cautious optimism.

He said: “The issues within the online ecosystem are complicated, and whilst change doesn’t happen overnight, today marks an important step in the right direction.”

Speaking in July, Facebook’s founder and chief executive Mark Zuckerberg said he remained adamant that the company did not want hate speech on the social network.

On Wednesday, the company’s vice-president for global marketing solutions, Carolyn Everson, said the agreement gave all parties “a unified language to move forward on the fight against hate online.”

 


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