Trend Micro Incorporated, a global leader in security software, stated that cyber espionage is the most serious threat concern to global businesses in 2017. Twenty percent of global organizations rank cyber espionage as the most serious threat to their business, with 26% struggling to keep up with the rapidly evolving threat landscape. In addition, one in five U.S. organizations have suffered a cyber espionage-related attack in the last year. Trend Micro’s research covered over 2,400 organizations across the U.S. and Europe.
It is a daunting task for businesses to persist with the demands of not only being current with the requirements of cybersecurity but also to get ahead of the curve.
Trend Micro discovered that:
Raimund Genes, chief technology officer for Trend Micro, confirmed, “There’s no silver bullet for cybersecurity; these threats are constantly evolving. While many organizations will be wooed by exciting new security technologies, this Elastoplast approach means they will be quickly bypassed and become obsolete. The increasingly unpredictable tactics used by well-funded cybercriminals and the fast evolving threat landscape highlights the fundamental need for businesses to have a layered defense to greatly reduce the risk.”
Cyber espionage is defined as the act of stealing secrets stored in digital formats or on computer systems and IT networks[2]. ‘Cyber spies’ target trade secrets stored in business networks with a weak cybersecurity infrastructure in place. Small businesses are growing among the victims of cyber espionage as they tend to lack the necessary resources to develop, implement, and maintain a strong cybersecurity defense. Small businesses are also in a multitude of industries and possess intellectual property, production processes, blue prints, and more which are highly desired by competitors and entrepreneur pirates in other countries.
In taking preventative actions against cyber espionage, Villanova University recommends that organizations assess their security and procedures, evaluate risks, and develop a security policy or policies that help address weaknesses. Educating staff members is recommended. Employees should understand the importance of information security protection, like developing strong passwords, rotating them and keeping company confidential information safe.[3]
Wilson Consulting Group understands these threats and assists several businesses in the pharmaceutical and health care industries to minimize threats and protect their trade secrets. Our Cyber Intelligence and Analytics service detects and prevents cyber threats to these businesses’ information and information assets.
Our Cyber Intelligence and Analytics service:
Please contact us here to learn more on how to minimize your threats and protect your trade secrets.
Many cyberattacks succeed due to mistakes by employees and a lack of awareness of basic aspects of cybersecurity. According to the 2022 Verizon Data Breach Investigations Report, 82% of data breaches in 2021 involved the human element.
On May 7, 2021, Colonial Pipeline, Co. was forced to close operations after a ransomware hack was confirmed to have breached their systems. This attack hindered services to the East-coast of the United States and sparked fears of a massive gas shortage to American motorists. This hack greatly compromised Colonial Pipeline’s system integrity and put private data at risk.
5G is a wireless technology with higher speeds and increased bandwidth, which means that you can download/stream videos online at a faster rate without worrying much about the number of users on the network. 5G networks also help reduce the time needed for data to travel across the network. This process is called latency, which is a major factor in automated processes, such as self-driving cars and factory robots. Due to the massive connectivity of devices collectively known as the Internet of Things (IoT) across 5G networks, viable and in-depth security measures should be in place to prevent cybercriminals from hijacking the connected devices or launching Distributed Denial of Service (DDoS) attacks.
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