‘Double whammy’ redemption, employee acceptance and underinvestment highlighted as key cyber-risk risks for 2022 by Europe’s ruling Infosecurity community

CISOs need to be more vigilant about new methods, tactics and targets used by cybercriminals to carry out common types of attacks, according to Infosecure Europethe community of security leaders and analysts. Organizers of Europe’s most influential information security event – held from 21-23 June 2022 at ExCeL London – asked its Advisory Council about the biggest cyber threats facing organizations this year.

While individuals, criminal groups and nation-states will continue to favor ‘trial’ approaches, it is hoped that they will use these in new ways to generate revenue from attacks. “The threats do not change much from year to year, the more sophisticated the threats and the actors that emerge,” he says. Maxine Holt, Senior Director of Research, Omdia. “There will always be organizations that do not have strong cyber hygiene to protect against these threats, and when they do pass, without an adequate contingency response plan.”

not surprisingly, redemption goods it was identified as an area in need of close attention, and Maxine Holt cited ‘double whammy’ ransom articles as a particular concern: “The first ‘whammy’ is the attacker locking the data so that the victim cannot access get them. Refusal by the organization to make a payment may result in the disclosure or sale of a second ‘whammy’ of data, often in breach of data privacy regulations. Prevention requires deep protection: regular comprehensive backups, and the use of multifactorial authentication (MFA) and privileged access management (PAM). ”

Peter Yapp, Cyber ​​Leader and Partner at Schillings, agrees. “As well as increasing the incidence of ransomware, we look forward to seeing more sophisticated attacks, using new methodologies. Many countries may try to impose legislation on redemption payments, but this is unlikely to stop criminals from continuing to attack. ”

Mark D Nichols, Head of Information Security, Risk and Compliance, Ramsey Healthcare UK points out that it is more difficult to protect an organization from the impact of redemption goods. “Because ransomware is becoming more prolific, the cost of cyberbullying is rising,” he says. “Some insurers refuse to cover organizations, or the list of controls is large to make the policy valid. Organizations need to consider cost versus reward. And things can go awry when businesses try to negotiate; some are getting the decryption keys and discovering that they do not work. Attackers are also threatening to release sensitive information, including personal data, which could result in fines. ”

Supply chain attacks it will also continue to pay significant dividends, including software attacks, says Maxine Holt. “To spread your attack to a truly legitimate organization – what do you not like? The source software provider is obliged to take every precaution to protect its code, including open source code, from malicious activity so that it cannot be altered or altered during an update or patch process and appears he is still very legitimate. ”

Supply chain risks have risen to the surface due to external factors such as extreme weather and the pandemic, according to Barry Coatesworth, Director of Risk, Compliance & Security, Guidehouse. “This represents increased risks to who is connecting to your network and providing resources and services,” he says. “Third-party risk assessments only go a long way in resolving the problem, because it outsources when suppliers subcontract work.” Peter Yapp adds: “Businesses need to realize that their security depends on a network of third-party providers, and that they are only as strong as the weakest link. Any service provider that delivers IT should be given due diligence. ”

Peter continues to emphasize that information security investment overall, insufficient priority is yet given within business or government. “There is an underinvestment in cybersecurity,” he says. “Change needs to happen from the top, with a budget, strategy and systems in place to ensure the cyber focus of business. Programs such as the UK government’s new cybersecurity strategy, aimed at being proactive rather than reactive, raise awareness of threats, but increased funding is needed to make a tangible difference to the risk landscape. ”

The IS insider threat constantly challenging organizations, and neglect and error add so many problems to malicious intent. “Behavioral analysis of what employees are doing on your network and the data to which they have access can detect abnormal behavior when set up,” advises Barry Coatesworth. “However, education has always been a cornerstone in reducing insider threats.”

Mark D Nichols agrees. “Because we’ve been working this way for two years, people may be a little complacent,” he says. “Continuing education is needed to keep everyone alert to the threat, using a variety of media to share key messages. We call out and celebrate when people see phishing emails, and we use it to show what people need to watch out for. Our messages are also about being safe in your personal space: how do I add MFA to my social media accounts? How do I set up privacy settings? Changing people’s behavior in general will have a positive impact on the work environment. ”

Peter Yapp emphasizes the need to be aware of the privacy and security risks that exist for us as individuals, and to take steps to mitigate them. “This may involve choosing MFA on devices, or realizing that higher levels of security may compromise speed and efficiency. We can expect consumers to be more vocal about their security, and, in turn, businesses to place more emphasis on their cyber programs and funding behind them. Interest will increase at Board level. ”

Rik Turner, Principal Analyst with the Omdia, hoping that not everyone will find it easy to adjust their behavior. He says: “The Zero Trust’s approach, for example, can be expected to be anti-organization-wide. C level executives may have experienced and are intimidated by the broad entitlement of ‘access to all areas’. Developers and administrators may also oppose this type of approach. Cultural change will be required, and careful evangelism will certainly be required to ensure its widespread acceptance and acceptance. ”

Nicole Mills, Director of Exhibitions at Infrastructure Groupcomment: “The only way we can anticipate, detect and respond to threats in the current landscape is through a concerted effort to improve threat intelligence. We are not looking for major changes to the types of threats we have to face, but ongoing, perhaps subtle, changes in how attacks are planned and carried out. That’s one of the main reasons we chose Stronger Together as the theme for Infosecure Europe 2022, to encourage and facilitate better collaboration between business, law enforcement and government. The more we look at criminals and their approach, and the more information and knowledge we share, the more likely we are to stay ahead of the emerging risks. ”

The landscape of threats will be widely covered in the conference program at Europe Security 2022 (Tuesday 21 to Thursday 23 June 2022 at ExCeL London). Subjects inspected on the Main Stage Key threats and pitfalls include tackling insider threats, developing a culture of security, paradigm shift in redemption, threat financing, Cybercrime as a Service (CaaS), third party risk, cybercriminals changing their approach, and improving the detection of known and unknown threats.

Visitors will have the opportunity to take part in discussions on the development of the latest cyber security challenges on the Insight Stage, equip themselves with new strategic approaches and techniques to tackle them, and exchange ideas and expertise. Sa Talk Tactics theater, real-life case studies will provide practical and actionable information on how to keep up with the increased sophistication of security threats, and Security Workshops it will help visitors develop the practical skills needed to ensure their company is fully prepared to combat cyber-attacks.

Full details of the exhibition and conference program will be provided released on the website in the coming months.

‘Double whammy’ redemption, employee acceptance and underinvestment highlighted as key cyber-risk risks for 2022 by Europe’s ruling Infosecurity community

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