Cybersecurity Expert

Cyber attacks are a threat to businesses of all sizes and in all industries. With cybercrime rising by 600% during the pandemic, businesses are more vulnerable than ever to the financial and reputational repercussions of cyberattacks. This makes it even more important for businesses and organizations to make cybersecurity a priority. Costs of Cybercrime Global cybercrime costs are on the rise, increasing 15 per cent year over year, according to a 2021 cyberwarfare report by CyberSecurity Ventures . By 2025, it is estimated that cybercrime will cost businesses worldwide $10.5 trillion annually. With the global cost of cybercrime at $3 trillion in 2015, that’s more than a threefold increase over a decade. This represents the “greatest transfer of economic wealth in history,” stated the report. To put this into perspective, if the total of $6 trillion in cybercrime losses in 2021 were measured as if it were a country, this would be the world’s third-largest economy after the U.S. and Ch...

Article by Greg Foss, Senior Cyber Security Strategist, VMware Carbon Black Wherever there is disruption, cybercriminals see opportunity. Alongside the devastating health and economic impacts of the global coronavirus pandemic, we have also seen a huge escalation in ransomware attacks as people shifted to working from home. VMware Carbon Black threat researchers have recorded a 900% year on year increase in ransomware attacks in the first half of 2020. Attacks are not only more frequent, but they are also more sophisticated, as adversaries strive to maximise the revenue potential from each hit. As modular and more extensive malware has become ubiquitous, adversaries are diversifying and adopting more strategic and multi-stage tactics. They’ve identified factors such as high financial and regulatory penalties and reputational damage that offer more leverage to extort money from victims. As a result, it is now easier than ever for criminals with minimal skill to execute highly impactful ...