February, while a short month, was long on cybersecurity threats. Read on for a few of the high- (well, low-lights) as well as for some resources from GoAnywhere MFT on how you can help secure your sensitive data files while they are in motion and in transit.
Love Hurts
The search for love turned up more than potential partners over the last few months (o.k., years). In fact, according to research from TSB, there was a whopping 91 percent increase in romance fraud during COVID-19. As detailed in Infosecurity Magazine, the switch from blind dates and “meet cutes” is responsible in fraud heating up. And these love disconnections don’t come cheap. The average financial loss per victim was about £6,100 ($8,100 US).
Where were the highest fraudulent love matches found? Facebook takes that “prize” at 35 percent of these loveless attempts. Dating sites such as Tinder, Plenty of Fish and Match.com also saw their share of fraud relationships.
Paul Davis, director of fraud prevention at TSB, advised, "When interacting online, it’s important to remain on guard. Don’t put your trust in people you’ve never met in person – and if the conversation ever moves on to money, then it’s time to stop.”
Related Reading: How the Coronavirus has Changed Data Security
Banking Industry Preps for Potential Cyberattacks
Reuters reports that the U.S. banking industry is poised to take measures to prevent potential cyberattacks as tensions continue between Russian and Ukraine.
According to the article’s expert sources, the financial industry, while always a cyberattack target, is increasing network monitoring, rehearsing potential cyberattack scenarios, working to detect networks threats and staffing up, should activity increase.
Threats noted could include ransomware and malware attacks, denial-of-service attacks, as well as theft and data wiping. Due to their very nature and compliance requirements, "Banks are incredibly prepared. They have taken out their playbooks and it's practice, practice, practice," said Valerie Abend, of Accenture's global financial services security group. In addition, global banks must abide by strict operational risk rules and employ among the highest cybersecurity standards.
Related Reading: The Best Data Security Strategies for Banking and Finance Organizations
Security Remains Top Concern in Fortra IBM i Marketplace Study
A recent IT Jungle article detailed the findings of an IBM i Marketplace Study from Fortra. In a nutshell and not surprisingly, cybersecurity and ransomware were the top concerns. Security has topped the list for the past five years.
In other findings, the lack of security knowledge and skills is the biggest hurdle when it comes to security, with 47 percent of users according to the Marketplace Study. That’s followed by the constantly changing nature of the threats (42 percent), balancing security controls and business efficiencies (38 percent), and continuously evolving technology (30 percent).
Related Reading: MFT’s Role in Data-Centric Security
Ransomware Pain is Broad
Recent research from the Ponemon Institute found that 80 percent of companies have found themselves victimized by a ransomware attack. This high probability comes even though an average of $6 million is spent annually on ransomware mitigation.
The study showed an average of 14 staff members spent about 190 hours each on activities related to remediation and containment, with 45 percent of companies forced to temporarily shut down as a result of the attack.
The article goes on to detail that the average ransomware payment is approximately $1 million and 53 percent of those companies attacked went on to pay the demanded ransom.
Crisis in Ukraine Could See Cyberattack Uptick
The Department of Homeland Security is warning U.S. organizations that they could see cyber threats stemming from the current crisis in Ukraine that extend beyond the country’s borders.
The Cybersecurity and Infrastructure Security Agency encourages organizations of any size to ensure their "most critical digital assets" are protected, although as DHS Secretary Alejandro Mayorkas tweeted, "We have no information to suggest a specific credible cyber threat against the U.S. homeland, but it is our responsibility to be prepared."
Related Reading: The 5 Biggest Cybersecurity Threats of 2022: How to Avoid Cybersecurity Attacks
Secure File Transfers: A Key Cybersecurity Component
GoAnywhere MFT delivers robust and secure file transfers with the automation and protection organizations need for safely exchanging sensitive data. Book a 15-, 30- or 60-minute demonstration to learn more. Or start protecting files in motion and at rest today with a free trial.
