Tech & Science : The human cost of cybersecurity attacks - - PressFrom - Australia

Tech & Science The human cost of cybersecurity attacks

06:55  16 october  2019
06:55  16 october  2019 Source:

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Malware and web-based attacks are the two most costly attack types — companies spent Over 20 percent of cyber attacks in 2017 came from China, 11 percent from the US and 6 percent from Does your cybersecurity start at the heart? Get a highly customized data risk assessment run by engineers

Some attacks are more costly than others. Costs also differ with the frequency of an attack This led to the ultimate loss: human life. Other far-reaching impacts are environmental impacts However, the costs associated with cybersecurity are not solely tied to the negative aftermath of an attack .

Email attacks are on the rise. Our recent global email security report, which surveyed 660 IT stakeholders at organisations around the world, discovered over the past year, 82% of organisations have faced an attempted email-based security threat. Moreover, 74% would describe email attacks’ impact on their organisation as significant.

The human cost of cybersecurity attacks© Provided by Future Publishing Ltd. The human cost of cybersecurity attacks In the aftermath of an email attack, the focus often centres around the resulting financial and reputational damage companies face. Its effect is usually measured by dollars and pounds.

Spear phishing, the act of sending targeted emails to get you to share financial information or passwords, can be exceptionally sophisticated. “The old-style ones had spelling and punctuation errors, but today, it has really become an art,” says Mark Pollitt, PhD, former chief of the FBI’s computer forensic unit. “They may call you by name, use your professional title, and mention a project you’re working on.” Outsmart us: Spot phishing emails by looking for incorrect or unusual URLs (hover over links to see the actual URL address), requests for personal information or money, suspicious attachments, or a message body that’s actually an image. Unless you’re 100 percent confident that a message is from someone you know, don’t open attachments or click links. Here's how to avoid the most common online scams.
Pictures: 20 Cyber Security Secrets Hackers Don’t Want You to KnowSometimes, it can be easy to forget cyber security’s human cost. However, a 2018 survey found people working in technology actually reported a 78% increase in mental-health related illness compared to the previous year. While it can be hard to pinpoint root causes, it’s hard to imagine the recent increase in cyber attacks has helped this issue.

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Cyber attacks are ramping up, and we're not ready for it. As cybersecurity concerns reach a fever pitch around the globe, the U.S. should expand the Peace Corps mandate to create a new Cyber Peace Corps.

3. Countering the human factor. Human error can also cause network vulnerabilities. One of the biggest causes of data breaches is unintentionally Along with considering the technical and human side of cybersecurity , consider which threats may hit your network and how likely that is to happen.

EMEA is suffering under the weight of email attacks

Given that, according to Verizon, 90% of cyber attacks enter via email, we wanted to investigate the effects of email attacks in particular on the wellbeing of IT teams. Interestingly, the impact of email threat attacks is bigger among organisations in the EMEA region.

The pressure starts as soon as emails are flagged as suspicious. EMEA IT teams receive far more suspicious emails than the global average (even though the majority of these turn out to be false alarms), with 7% receiving over 50 per day and a third (32%) receiving between six and 50 per day.

The time taken to identify and respond to email reports on this scale is taking its toll on IT teams’ productivity and stress levels. 81% admitted spending over 30 minutes investigating and remediating each email attack, while 47% spend over an hour.

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Published by Cisco and Cybersecurity Ventures. Human attack surface. Like street crime, which historically grew in relation to population growth, we are witnessing a similar evolution of It’s not just about more sophisticated weaponry; it’s as much about the growing number of human targets.

Cyber attacks are growing in prominence every day – from According to data from Cisco’s 2018 Annual Cybersecurity Report, the most These attacks generally cost 7 per user, compared to that from system glitches that costs 1 per user and that from human error that costs 8 per user.

Understandably, this has had a detrimental impact on stress and anxiety levels, with over a third - 38% - blaming email attacks for higher levels of stress felt at work. Senior IT leaders were most likely to suffer this impact.

Worse still, the pervasive effects of email attacks also affect IT professionals outside the workplace, with 38% worrying about email attacks outside of working hours and 16% cancelling personal plans due to an attack. Additional stress comes from the potential reputation damage that comes from successful attacks, which 32% admit is a concern.

And why is this particularly felt in the EMEA region? Well, organisations based here are most at risk to spear phishing attacks, with nearly half - 48% - of companies from the EMEA region falling victim to spear phishing attacks in the past year.

The impact of spear phishing attacks on the reputation of organisations in EMEA is much higher compared to other regions too; 39% of EMEA respondents reported damage to their reputation over the past year, compared to the global average of 27%.

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But just how destructive are cybersecurity attacks compared to the other two? Let’s find out. In this post, we compare virtual disasters (i.e. data breaches and other cyber incidents) with physical disasters (caused by extreme weather events and natural disasters) in terms of cost The human element.

The average cost of a cybersecurity attack has been increasing over time. The rewards to hackers in cyber heists have also been increasing, and this has Several cybersecurity companies have listed their estimates for the average costs of cyber attacks in 2017/2018. The following are some of these

Are email attacks your organisation’s Achilles heel?

A lack of faith in their company's security levels threatens to further reinforce IT professionals stress levels. Despite email being utilised by organisations since the 1990s, a massive 94% of respondents confessed that it is still the most vulnerable part of their company’s security posture. More than half - 52% - of EMEA respondents claimed that the security in their organisation is unlikely to have improved in the last year, compared to the global average of 63%.

This stress was compounded by a lack of security awareness training. 29% of respondents stated they received security training just once a year, with 7% claiming that they had never received training or that they weren’t sure.

Without adequate training proceedings, email attacks are destined to continue to succeed. Successful security requires a combination of innovative technology and effective training.

A brighter future

The stress and anxiety felt by IT teams is further compounded by the current cyber skills shortage. Not only are IT teams constantly on ‘red alert’, but they are also spread thinly, due to the demand for security professionals outstripping the supply.

The answer? Invest in your IT professionals and cyber security posture, and they will invest in you. Be it the right tools, the right training or more, it’s clear EMEA organisations have far to go to bridge the gap and turn their employees into an effective line of defence as part of a wider holistic email protection strategy.

Companies that invest in an email protection strategy that includes both technical solutions, such as automated incident response tools, as well as a regular and in-depth security awareness training, will benefit from a happier and more productive IT workforce.

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