Is your cyber security strategy mature enough to handle a sophisticated threat? Many organizations would likely say no. Skimming and phishing were among the most prevalent hacking techniques. Despite the rising numbers of organizations that are impacted by sophisticated threats, many IT leaders aren't planning to change their security strategies this year. Don't let yourself become another statistic waiting for an attack to happen.
The dependency on digital and smart technology these days is on the rise, on top of that there are issues of ransomware and distributed denial of service (DDoS), the average number of focused cyberattacks per organization has more than doubled this year compared to the previous 12 months (232 through January 2018 versus 106 through January 2017). A new research conducted by Accenture has concluded that in spite of these growing cyber threats, the organizations are demonstrating far more success in detecting and blocking them. It was revealed that despite making significant progress, only two out of five organizations are currently investing in breakthrough technologies like machine learning, artificial intelligence (AI) and automation, indicating there is even more ground to be gained by increasing investment in cyber resilient innovations and solutions. The study conducted from January to mid-March 2018 investigated focused attacks defined as having the potential to both penetrate network defenses and cause damage, or extract high-value assets and processes from within organizations. Regardless of the increased pressure of ransomware attacks, which more than doubled in frequency last year, the study disclosed that organizations are upping their game and now preventing 87 percent of all focused attacks compared to 70 percent in 2017.
Now it's easier than ever to understand your company's cyber risk. The latest release of the FICO Cyber Risk Score is now available on AWS Marketplace, a digital catalog with thousands of software listings from independent software vendors. The FICO Cyber Risk Score is the first cyber rating available on the AWS Marketplace. With this release, FICO's scoring algorithm uses new globally collected micro signal data that improves the ability to quantify the risk an organization will suffer a debilitating cyber-attack in the next 12 months. These micro signals provide additional security risk indicators that are especially useful in evaluating small and medium-sized businesses.
In March 2018 Accenture released a report, 2018 State of Cyber Resilience: Gaining Ground on the Cyber Attacker, which provided an updated perspective on enterprise-level efforts to become more cyber-resilient. The researchers surveyed over 4,600 security decision-makers from companies with revenues of $1 billion or higher, located in 15 countries throughout North and South America, Europe and Asia-Pacific. To reduce the amount of noise stemming from the barrage of attacks enterprises face on a daily basis, the research focused primarily on organizations' ability to handle targeted attacks -- those threatening high-value assets and processes -- as opposed to routine incidents aimed at low-hanging fruit. The primary goal is to detect threats and respond to them quickly to minimize and contain the damage, resume operations and protect the confidentiality, integrity and availability of data against future attacks. Good news: Top management and board directors are finally starting to grasp the urgency of the situation, shifting from a reactive to a proactive mindset.