MITIGATING CYBER SECURITY RISKS
The current landscape reveals a growing disparity in cyber resilience, where smaller organisations and nations find it increasingly challenging to meet even basic cyber security standards.
This widening gap between well-resourced entities and those falling behind is further aggravated by the rise of emerging technologies like generative artificial intelligence, which are becoming more accessible to cyber attackers. The deepening shortage of cyber security talent further complicates efforts to enhance security measures.
Urgent, coordinated global action is necessary to address these challenges, making it essential to integrate cyber security into broader business strategies to foster a more resilient digital future.
Cyber security threats originate from a variety of sources, including cyber criminals, nation-state actors, insider threats, supply chain vulnerabilities, emerging technologies and social engineering tactics. These threats can be classified into 10 major categories: data breaches, cyber fraud, data centre risks, ransomware attacks, remote access attacks, data manipulation attacks, insider threats, tampering and sabotage, website defacement attacks, and distributed denial of service (DDoS) attacks.
In 2023, global financial losses from cyber crime were estimated at $8 trillion. The impact was significant across various regions, with North America often reporting the highest figures, followed by Europe and Asia Pacific. The primary drivers of cyber security attacks include phishing, weak passwords, unpatched software, insider threats, social engineering, inadequate security configurations, malware, supply chain vulnerabilities, DDoS attacks, and a lack of security awareness training.
Oct-Dec 2024 Issue
Sapura Secured Technologies