This post will look at how insider threats can be identified, dealt with, flagged, and avoided to reduce the overall threat of internal threats with effectively managed third party risk.
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Today businesses face increasingly sophisticated cyber threats that necessitate robust security measures. One such innovative approach gaining traction is the Security Operations Center as a Service (SOCaaS). This model offers organizations the opportunity to enhance their security operations efficiently and effectively by leveraging external expertise and advanced technologies.
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As legislatures around the world try to get a handle on the growth of ransomware, another category of cybercrime is festering out of control: Elder fraud.
The FBI’s Internet Crime Complaint Center (IC3) reported more than 100,000 people in the US, 60 years and older, lost $3.4 billion total to digital scams. The IC3 pointed out that the elderly are half as likely to report a loss. So the actual crimes and losses are probably much higher.
In contrast, the total ransomware payouts last year from reporting companies was $1.1 billion according to Chainanalysis. While the total number of fraud reports to the IC3 appears to have leveled off after years of growth, elder fraud increased by 14 percent year on year.
“Combatting the financial exploitation of those over 60 years of age continues to be a priority of the FBI,” wrote FBI Assistant Director Michael D. Nordwall, who leads the Bureau’s Criminal Investigative Division, in the report. “Along with our partners, we continually work to aid victims and to identify and investigate the individuals and criminal organizations that perpetrate these schemes and target the elderly.”
Who is vulnerable?
In 2022 Gartner (who else?) coined a new term: Data Security Posture Management (DSPM), a new, data-centric approach that gives security teams full visibility into cloud environments. Through DSPM, security teams can focus on securing the "crown jewels" of their data.
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The landscape of cyber threats is poised to become more treacherous due to the advancing use of AI in code writing and the dissemination of malicious techniques. The race between cyber attackers and defenders will intensify, with AI at the centre of this escalating arms race.
The healthcare industry is a vulnerable target of cybercriminals, but not for the reasons most business sectors are. Between 80 and 90 percent of all cybercrime results from people not following basic cyber hygiene practices, but in healthcare criminals gain access to information through infrastructure weaknesses and the murky third-party agreements.
From our predictions issue: AI is rapidly infiltrating the business world and our daily lives. While revolutionizing how – and how efficiently – work gets done, it also introduces a new set of cybersecurity challenges.
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From our predictions issue: AI dominated the news in 2023. For 2024, our experts predict that AI will mature further, resulting in more AI-driven solutions in the cybersecurity industry.
From our predictions issue: As 2024 gets underway, here are three threats which promise to be making waves in the coming year.
In light of today’s threat landscape, the question for organizations might be, “Can your security team handle the multiple tasks and numerous processes required to detect, respond, and mitigate escalating cyber threats at the same time?” Called upon to become super multitaskers, they must successfully address routine and unexpected challenges without compromising quality or efficiency.
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