[ESentire Annual Threat Intelligence Report: 2019 Perspectives And 2020 Predictions
Melvin Amey
We provide sophisticated cybersecurity solutions for Managed Security Service Providers (MSSPs), Managed Service Providers (MSPs), and Value-Added Resellers (VARs). Find out why you should partner with eSentire, the Authority in Managed Detection and Response, today.
eSentire Annual Threat Intelligence Report: 2019 Perspectives and 2020 Predictions
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This article highlights some of the key takeaways from the 2023 Cybersecurity Ventures Cybercrime Report and discusses how organizations can defend against modern cyber threats by adopting a risk-based approach.
Cybersecurity Ventures is a prominent industry research and media organization recognized for its authoritative insights and contributions to cybersecurity. Cybersecurity Ventures conducts comprehensive research on global cyber threats, emerging trends, and market dynamics, providing valuable data-driven analyses.
Through its reports, publications, and industry forecasts, Cybersecurity Ventures equips security professionals and business leaders with essential knowledge to address evolving cyber risks. Cybercrime Magazine publishes Cybersecurity Venture's annual and quarterly reports covering global cybercrime, cybersecurity market forecasts and spending predictions, cybersecurity companies, venture funding, mergers and acquisitions, employment data, and more.
Cybersecurity Ventures provides some of the most cited and trusted research in the infosec industry. All Cybersecurity Ventures reports are based on their ground-up research and writing. When necessary, they synthesize and repurpose research from credible sources, such as analysts, researchers, vendors, industry experts, and other media publishers.
The Cybersecurity Ventures Cybercrime Report is a comprehensive resource that provides detailed insights and analysis into the ever-evolving threat landscape, the global cybercrime trends, and their impact on businesses and organizations across various sectors.
From ransomware attacks and data breaches to insider threats and phishing scams, the Cybersecurity Ventures Cybercrime Report covers various topics to help security leaders understand the evolving nature of cyber threats and make informed decisions when investing in security solutions.
In addition, the Cybersecurity Ventures Cybercrime Report aims to shift the executive-level conversation about cyber risk. The publication recognizes that there is no end to cyber risk and continuously emphasizes the need to prioritize cyber resilience and build a strong security posture that allows businesses to anticipate, withstand, and recover from cyberattacks.
Cybersecurity Ventures attributes this growth to several factors, including increased nation-state-sponsored and organized crime activities, the rapid expansion of the attack surface, and a deepening reliance on digital infrastructure across industries. The report emphasizes the importance of implementing a risk-based approach to avoid business disruption.
One of the key highlights in the 2023 Cybersecurity Ventures Cybercrime Report is the increase in the volume and sophistication of ransomware attacks. The annual cost of ransomware attacks is projected to rise, reaching $265 billion by 2031. The rise of ransomware is attributed to the continuous evolution of ransomware tactics, the proliferation of nation-state ransomware gangs, and the continuous refinement of extortion strategies.
To ensure business continuity and avoid reputational damage from sophisticated cyber threats, organizations need to be able to anticipate, withstand and recover from cyber threats. By shifting their mindset from reactive to proactive cybersecurity, investing in 24/7 threat hunting, detection, and response capabilities, and continuous protection of networks and proprietary supply chain data, organizations can build a resilient security operation and minimize disruption.
According to the Cybersecurity Ventures report, the number of unfilled cybersecurity jobs worldwide grew 350 percent between 2013 and 2021, from 1 million to 3.5 million. More than 750,000 cybersecurity professionals are needed in the United States alone, creating a substantial supply-demand imbalance.
As threats continue to grow in sophistication, an increasing number of cybersecurity jobs require industry certifications, like the Certified Information Systems Security Professional (CISSP). However, not all job seekers can demonstrate the necessary certifications. As a result, many businesses are struggling to find qualified candidates.
The cybersecurity talent shortage is a global problem, affecting businesses of all sizes and industries. This talent crunch extends beyond recruitment challenges, with retention proving to be equally demanding, as cybersecurity professionals struggle with burnout and frequently change roles in the highly competitive job market.
This talent crunch can be daunting for security leaders struggling with retaining their staff amidst decreasing budgets and growing responsibilities. Organizations looking to access top cybersecurity talent without investing in recruitment, training, and salaries of in-house security teams may choose to outsource MDR capabilities to an external provider, who will conduct 24/7 threat detection, investigation and response, acting as an extension of your team.
As cyber threats continue to rise, security leaders are tasked with taking on more responsibility to protect their organizations. The Cybersecurity Ventures Cybercrime Report shows that businesses face an increased risk of cyberattacks resulting in downtime and revenue disruption, loss of reputation and customer trust, legal fines, and more.
Download the Cybersecurity Ventures Cybercrime report to learn more about how cybercrime is expected to evolve and why your organization should adopt a risk-based approach to your cybersecurity strategy for more proactive defense against modern cyber threats.
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The normal activity continues around government cybersecurity and oversight agencies, particularly in the US, to stay in front of advisories for the most notable threats at the moment. Scattered Spider, Diamond Sleet, Sapphire Sleet, Rhysida Ransomware, Royal Ransomware, and Silent Ransomware all got extra attention this month, while long-time concerns continued with Play, LockBit, and Cl0p ransomware groups. Governments and regulatory agencies around the world continue to struggle with getting in front of the risks of the rapid growth of artificial intelligence.
Scattered Spider threat actors typically engage in data theft for extortion using multiple social engineering techniques and have recently leveraged BlackCat/ALPHV ransomware alongside their usual TTPs.
Observed as a ransomware-as-a-service (RaaS) model, Rhysida actors have compromised organizations in education, manufacturing, information technology, and government sectors and any ransom paid is split between the group and affiliates. Rhysida actors leverage external-facing remote services, such as virtual private networks (VPNs), Zerologon vulnerability (CVE-2020-1472), and phishing campaigns to gain initial access and persistence within a network.
Gov. Kathy Hochul wants to force hospitals to establish cybersecurity programs, assess cybersecurity risks, use defensive techniques and infrastructure, and implement protection measures for information systems.
The US government's Cybersecurity and Infrastructure Security Agency (CISA) is expanding its managed cybersecurity services to critical infrastructure entities in a bid to further safeguard key platforms.
The organization said its security project had proved a significant success so far, and that expanding it will not only help stress-test its capabilities but also take the load off security teams struggling to keep up with ever-intensifying attacks.
WASHINGTON, Nov 27 (Reuters) - The United States, Britain and more than a dozen other countries on Sunday unveiled what a senior U.S. official described as the first detailed international agreement on how to keep artificial intelligence safe from rogue actors, pushing for companies to create AI systems that are "secure by design."
This month marked a shift into the recurring annual holiday cycle. Marked increases in phishing and scam attempts were noted, as well as the volume of reports trying desperately to make users more prepared for them. Artificial Intelligence of course continues to be an endless source of speculation and consternation as governments and industry struggle to figure out how to best leverage and mitigate the technology. The scope of the problem of dismantling cyberthreats continues to be highlighted as raids and arrests again take players off the board and new actors spring up almost instantly to fill the void. And finally, we have entered the time where companies race to assemble their annual reports and predictions for the coming year.
Things seem to be looking up this month in terms of funds in the realm of cybersecurity. While funding for new ventures still seems to be a little tight, as may be expected for this time of the year, there has been plenty of activity with regard to acquisitions, and significant layoffs appear to have tapered off to normal activity as well.
There is an urban myth that says online shoppers who doggedly search for certain items on the web get tagged by algorithms that then cause them to see higher prices than others shopping for those same items.
The stealer malware known as LummaC2 (aka Lumma Stealer) now features a new anti-sandbox technique that leverages the mathematical principle of trigonometry to evade detection and exfiltrate valuable information from infected hosts.
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