Multi Factor attacks on the rise!

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com

Consumers Will Stop Engaging with Brands Online After Data Breach

After years of high-profile data breaches, consumers are fed up with companies that can’t protect their data, and they are increasingly willing to cut off brands that fail in this regard. 

In a recent survey by Business Wire, nearly 50% of respondents are more concerned about data security then they were a year ago. Notably, 81% indicated that they would stop engaging with brands online after a data breach, and 63% of consumers believe that the company is always responsible for data security. 

These findings place a significant burden on companies to evaluate their cybersecurity posture. In today’s digital landscape, failing to protect customer data won’t just be inconvenient. It could be the beginning of the end for many businesses.

Rather than leaving it to chance, get the support that you need to ensure that your company is ready to address consumer demands as the costs of failing to meet the moment are incredibly steep.

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com

Australian CEOs Fail to Appreciate Cyberthreats

Today, data breaches are top-of-mind for companies and consumers alike; however, those concerns appear don’t appear to have made it all the way to the C-suite. 

According to a recent survey of Australian executives, those in leadership positions significantly overestimate their company’s cybersecurity capabilities, exposing a serious disconnect between decision makers and those charged with securing a company’s data. 

For example, 63% of CISOs surveyed said that their company experienced a data breach in the past 12 months, but only 6% of CEOs shared this viewpoint. Similarly, 44% of CEOs thought that their company was prepared to respond to a cyberthreat, while only 26% of CISO’s were confident in this assertion.

This disparity doesn’t just relate to technological capabilities. 69% of CISOs view cybersecurity as an integral part of their business plan, and only 27% of CEOs saw it as a bottom-line issue.

Other surveys have shown that cybersecurity professionals are quickly becoming overwhelmed by their jobs, and many are considering leaving the field altogether. Without support from top-level executives, this problem will only get worse, which means that data security will become more problematic.

https://www.zdnet.com/article/australian-ceos-way-overoptimistic-about-cybersecurity-out-of-touch-on-privacy/

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com

Ransomeware Stops a business!

This week, ransomware stops a business from shipping products, spear phishing campaign costs a local government thousands, and executives continue to ignore spooky cybersecurity risks. 

Dark Web ID Trends:

Top Source Hits: ID Theft Forums 
Top Compromise Type: Domain 
Top Industry: Education & Research
Top Employee Count: 11 - 50 Employees 

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com

Be careful with posting personal info!

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com

Businesses Underestimate the Threat of Stolen Employee Data

While every business is busy finding ways to protect their customers’ data, a recent survey found that many are not paying attention to the threat posed by stolen employee data. Only 11% of respondents reported believing that compromised employee credentials like usernames and passwords pose high risk. 

However, the reality is that years of extensive data breaches have resulted in employee information being readily available on the Dark Web. Even more, hackers are leveraging tactics like credential stuffing attacks to access company networks undetected. 

By failing to account for the entire threat landscape, businesses are opening themselves up to additional data exposure vulnerabilities that involve customer information.

Fortunately, companies can be proactive about identifying compromised credentials. Dark Web monitoring services alert businesses when their employee information is available for sale, providing them the opportunity to safeguard information before it is used against them.
https://www.zdnet.com/article/stolen-staff-data-could-be-your-biggest-security-weakness/

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com

Canadian Companies Victimized by Uptick in Ransomware

2019 has seen a precipitous increase in the number of ransomware attacks reaching SMBs, government agencies, and educational institutions. These attacks, which consist of encrypting a company’s files and then demanding a ransom payment, are becoming especially common among institutions that lack the resources to continually defend against the devastating attack vector. 

Now, that reality is hitting Canadian businesses especially hard, a noteworthy development for a country that has often managed to avoid being victimized by such threats. 

According to a recent survey, 88% of Canadian organizations experienced some type of data breach in the past year, and 82% noted an increased attack volume during that period. However, in that survey, ransomware only accounted for 14% of these breaches. Since then, a string of Canadian healthcare companies, small businesses, and government organizations have been targeted. Some are speculating that the malware’s success in other countries, including the U.S., has encouraged cybercriminals to broaden their horizons.

Regardless of the intention, with ransomware widely available for lease on the Dark Web, businesses shouldn’t expect these attacks to abate any time soon. Rather, they should continually review and update their cybersecurity posture to ensure that their infrastructure is capable of defending against the latest ransomware strains.

https://www.cbc.ca/news/technology/more-ransomware-canada-1.5317871

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com