Tag Archives: businesses

Local businesses, sitting ducks for cyber crime

Local cyber security experts, IT academics, researchers and even a Federal Bureau of Investigations special agent were among technocrats speaking at the Third African Cyber Crime conference held yesterday.

Most of the experts cautioned that cyber security was being taken far too casually in a country where most of the business community is data and Internet reliant.

Prominent software developer, Itumeleng Garebatshabe said a recent survey of a commercial hub populated by Botswana Stock Exchange-listed companies had found gaping holes in cyber security.

“Our recent survey found that most of these BSE companies had their Wi-Fi networks open during the Christmas and Independence holidays,” he said. 

“This is dangerous as it exposes corporate information to hackers who could use the data for other purposes.  Most of these Wi-Fi networks are accessible metres away from those companies’ premises and people with evil intentions could easily crack the passwords and walk into their systems.”

Garebatshabe said

Read more at: http://www.mmegi.bw/index.php?aid=72513&dir=2017/october/19

Over 170000 Irish businesses could be vulnerable to crippling cyber attacks

More than 171,000 businesses in the State could be vulnerable to crippling ransomware attacks, according to a nationwide cyber security awareness survey.

48% of all businesses have no cyber security policy in place, with a further 27% acknowledging that either their security needs tightening or they are completely unsecure, according to the survey carried out by Magnet Networks.

The Magnet Networks National Cyber Security Awareness Survey was carried out among 205 companies spread across all sectors and regions, giving an up-to-date sample of the business attitudes to a threat which could potentially ruin many of those who are attacked.

The survey found that 26% of businesses have suffered from cyber attacks in the past two years, with a further 18% unsure if they have been affected.

“We found that only 13% of respondents think that their business is very secure – and in the absolute world of cyber attacks you are either totally secure

Read more at: http://www.irishmirror.ie/news/irish-news/over-170000-irish-businesses-could-11314495

More Than Half Of Businesses Have Been Cyber Attack Victims

Would you recognize a cyber attack if it happened at your company?

One company became a victim when a cyber criminal infected it with a ransomware virus, taking its servers hostage and holding them for ransom. Another was attacked by an organized gang of cyber criminals that planned a complex social engineering scheme to steal customer credit card information by impersonating a third-party vendor and installing malware.

cyber attack
Nearly half of business owners have been victims of cyberattacks. (PRNewsfoto/Nationwide)

Such attacks are becoming more common and can potentially cripple a company’s work and reputation — forcing it to pay hundreds to thousands of dollars. More than 20 percent of cyber attack victims spent at least $50,000 and took longer than six months to recover, according to Nationwide’s third annual survey of business owners. But

Read more at: https://businessfacilities.com/2017/10/more-than-half-of-businesses-have-been-cyber-attack-victims/

Are Irish businesses targeting each other with cyber crime?

Unless you spend a lot of time playing poker on your computer, you have probably never heard of Phil Nagy. But Mr Nagy, who runs an outfit called the Winning Poker Network, has just done something that might interest a lot of better-known, and less colourful, executives.

A few weeks ago, just as his network was holding a big tournament series, it was hit by a powerful cyber attack that forced Mr Nagy to scrap or postpone some events. This was not a step he took lightly. As he explained in a rueful video message to customers about the “crap” incident, some players could be so upset that the next time they saw him, they might “kick me in the nuts”.

What he said in the rest of the video was more jolting. While the poker network was under assault, he explained, the attacker had made contact on the

Read more at: https://www.irishtimes.com/business/work/are-irish-businesses-targeting-each-other-with-cyber-crime-1.3248613

Cyber crime session for small businesses in York

Small businesses in York will be able to get expert advice from North Yorkshire Police as part of York Business Week.

Ashley Mason, Liberal Democrat councillor for Dringhouses Woodthorpe has organised the session to help small and medium sized businesses improve their cyber security.

This session will provide tips on how to stay safe online and help address vulnerabilities.

Cllr Mason, who is the Vice Chair of the North Yorkshire Police and Crime Panel has secured Vanessa Smith, the PROTECT Lead for the Regions Police Cyber Team to deliver the event.

“I am really pleased to have organised this event which I hope will be very popular.

Cyber crime is one of the biggest threats facing business in the modern age and taking simple steps can help people reduce their chances of being a victim.”

 

To book a place at either event visit www.yorkbusinessweek.co.uk.

23 November 2017
13:00 – 15:00
City of York Council, West Offices

Read more at: https://www.minsterfm.com/news/local/2395785/cyber-crime-session-for-small-businesses-in-york/

Here’s why India’s small businesses are sitting ducks for cyber criminals

In less than a year, Indian businesses have seen a spate of ransomware attacks—WannaCry, GoldenEye, Petya and the latest, Locky. Ransomware is a malware that hijacks computers, encrypts important files, denies access to them, and then asks the victim to pay ransoms to have the files decrypted. Though very few businesses disclose cyber attacks due to fear of loss of reputation, experts believe Indian businesses have been hit hard by ransomeware since they are ill-prepared to ward of cyber threats. India was the third worst-hit country by WannaCry, according to a Kaspersky Labs report. The number of users attacked by ransomware in India has nearly doubled from 2015-16 to 2016-17, the report says.

If big companies are ill-prepared to face the cyber threat, small and medium enterprises (SMEs) are sitting ducks because most of them are not prepared at all. They have no processes or

Read more at: http://economictimes.indiatimes.com/tech/internet/heres-why-indias-small-businesses-are-sitting-ducks-for-cyber-criminals/articleshow/60921023.cms

Cyber Security: Here’s why India’s small businesses are sitting …

In less than a year, Indian businesses have seen a spate of ransomware attacks—WannaCry, GoldenEye, Petya and the latest, Locky. Ransomware is a malware that hijacks computers, encrypts important files, denies access to them, and then asks the victim to pay ransoms to have the files decrypted. Though very few businesses disclose cyber attacks due to fear of loss of reputation, experts believe Indian businesses have been hit hard by ransomeware since they are ill-prepared to ward of cyber threats. India was the third worst-hit country by WannaCry, according to a Kaspersky Labs report. The number of users attacked by ransomware in India has nearly doubled from 2015-16 to 2016-17, the report says.

If big companies are ill-prepared to face the cyber threat, small and medium enterprises (SMEs) are sitting ducks because most of them are not prepared at all. They have no processes or

Read more at: http://economictimes.indiatimes.com/tech/internet/heres-why-indias-small-businesses-are-sitting-ducks-for-cyber-criminals/articleshow/60921023.cms

Cyber crime costing businesses US$11.7M

Cyber attacks cost companies an average of US$11.7 million this year, a 23 per cent increase from 2016, according to research.

The surge follows the recent WannaCry and Petya ransomware attacks that cost global organisations hundreds of millions of dollars, the Cost of Cyber Crime study by Accenture on and Ponemon Institute said.

These types of ransomware attacks are taking an average of more than 23 days to mitigate, the report found. This compares to incidents involving malicious insiders which are taking on average 50 days to mitigate.

The study surveyed 2,182 security and IT professionals in 254 organisations worldwide.

Australian organisations reported the lowest total average cost from a cyber attack at US$5.41 million (A$6.88 million) while companies in the United States incurred the highest total average cost at $21.22 million. Germany experienced the most significant increase in total cyber crime costs from US$7.84 million to $11.15 million.

Average Cyber-Crime Cost to Global Businesses Rises to $11.7M: Report

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Average Cyber-Crime Cost to Global Businesses Rises to $11.7M: Report

The average cost of cyber-crime incurred by businesses around the world has grown in 2017, according to a report from Accenture and the Ponemon Institute.  The 56-page 2017 Cost of Cyber Crime Study report, released on Sept. 26, is based on a survey of 2,182 security and IT professionals

Read more at: http://www.eweek.com/security/average-cyber-crime-cost-to-global-businesses-rises-to-11.7m-report