In 2016, it was discovered that mobile device breaches cost enterprises millions of dollars. Lookout, a global leader in mobile security, and Ponemon Institute conducted a study on the economic risk of mobile data breaches, as well as potential maximum losses. They found during their research that losses could be as high as $26.4 million. There were 588 IT and security leaders from the Forbes Global 2000 companies who participated in this study. Researchers examined the risks introduced by employee access to increasing amounts of corporate data via their mobile devices and then assigned a cost to any mobile-based breach[1].
According to the report, three percent of employees’ mobile devices on average, are believed to be infected with malware (malicious software) at any point in time. In an average Forbes Global 2000 company, that adds up to more than 1,700 infected devices connecting to the global network every day. An average enterprise spends up to $16.3 million per year, or $9,485 per infected device, to investigate, contain, and remediate mobile malware-based attacks.
Malware-based attacks on mobile devices have increasingly become a major cause of cyber-breaches, data corruption, and unavailability of essential data. A cyber-breach is the unauthorized access of data, applications, services, devices, and/or networks via the bypassing of security mechanisms put in place. More businesses are relying on smart phones, tablets, netbooks, and laptops to send emails and transport data. Cyber-breaches to these devices may impact a business’s reputation, adherence to regulations, and even its ability to take legal action.
Cybersecurity experts are unsure that they can prevent cyber-attacks on mobile devices. Dimensional Research, a leading technology market research firm conducted a global survey of security professionals which uncovered that one in five of the companies represented experienced cyber-breaches on their mobile devices and almost 25% are unaware that they had experienced an attack at all. An April 2017 survey queried 410 respondents with security responsibilities at their respective firms. The respondents had varying responsibilities and represented the five major continents within organizations of varying sizes. Among the participants, 64% were doubtful that their organizations could prevent cyber-attacks to mobile devices[2].
Wilson Consulting Group (WCG) recommends that businesses seek to implement and enforce mobile security policies and encrypt critical data. Our services guide you to the best mobile device management solutions to suit your needs. We have the knowledge and technical expertise to point you in the right direction.
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[1]https://blog.checkpoint.com/wp-content/uploads/2017/04/Dimensional_Enterprise-Mobile-Security-Survey.pdf
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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