Not a day goes by where we don’t read about another cyber-attack.
Technology advances, digital innovation and increased sophistication of criminal activity has exposed businesses to intelligent cyber invasion; evolving from simple viruses and worms and instead, are used as cyber weapons and extortion tools.
Without adequate security provisions, it can lead to detrimental exposure of hacking techniques and tools, including malware, software exploits and social engineering. But what should we be keeping an eye out for and how can we stop the attacks from hacking our businesses?
In the first half of 2018, 4.5 billion records were exposed as a result of data breaches and in 2019, a collection of 2.7 billion identity records, consisting of 774 million unique email addresses and 21 million unique passwords, was posted for sale online.
And just a few months ago, global aluminon provider, Norsk Hydro, experienced the devastation of a hacker’s attack. Bringing down 22,000 computers across 170 sites in 40 countries, the entire workforce of 35,000 people had to resort to pen and paper! Production lines shaping molten metal were switched to manual functions, and even long-retired workers came back in to help colleagues run things "the old-fashioned way".
Considered one of the biggest malware threats of 2018, ransomware has been predicted to increase by 300% year over year, continuing to hone down on small to medium businesses with devastating consequences.
But it is how we deal with ransomware attacks which is fast becoming a fundamental asset to companies across the globe.
Norsk Hydro refused to pay the hackers. Costing them £45 million and still clawing back the after affects three months after it happened, what they lost in productivity they have gained in reputation.
More recently, British rock band Radioheadthwarted an attempted digital ransom, in which unnamed hackers stole 18 hours of unreleased music dating back to the band’s recording of its studio album OK, Computer. Instead of paying a ransom to keep the music secret, Radiohead released the files themselves, giving listeners a chance to stream the content for free, or download it for a fee which would be donated to a climate change charity.
Europol's head of the European Cybercrime Centre, Steven Wilson sums it up in one hit:
Companies need to understand that if you continue to pay a ransom it perpetuates the crime," he says. "It encourages the criminals to commit further crimes. If you pay, you're fuelling organised crime on a global basis."
But despite the tidal wave of ‘power against the hackers’, cyber protection is still very much needed.
With damage related to cybercrime set to hit $6 trillion by 2021, investing in security is fast becoming the immediate priority for leaders across the globe. As Global experts in cyber protection, spanning over 15 years in the industry and preventing over 200,000 ransomware attacks, we at Acronis understand the urgent need to protect data, easily and cost-efficiently. Which is why our Global Summit on 13-16th October is set to transform the future of cybersecurity.
Bringing together like-minded professionals across the globe, attendees can partake in specialist workshops, unearth the latest insights from leading experts such as former FBI, Eric O’Neill and Shark Tank’s co-host, Robert Herjavec and align strategies with advanced solutions.
The two-and-a-half-day Summit is set to stamp out those crippling attacks by uniting a community of cyber protection professionals.
From AI integration to Blockchain, we need to combine next generation and intelligent technology addressing threats before the slightest risk of data invasion. With the looming threats of cyber invasion forcing business leaders to take radical action to evade risk of data theft and exploitation, business leaders need reassurance that valuable data is protected and secure from the onset.
- Don’t pay the ransom
- Block attacks
- Use the cloud
In today’s technology dominated environment, where companies are solely reliant on digital platforms, it is not a case of ‘if’ a cyber-attack occurs, but rather a case of ‘when’.
Discover more about the advances of AI and cybersecurity at our Global Summit on 13th-16thOctober held in Miami Beach, Florida. If you would like to expand your cyber knowledge further and mix with like-minded professionals across the globe, then check out our website for more information: https://acronis.events/summit2019/
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