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Techniques for dealing with ransomware, business e-mail compromise and spearphishing

Fraud Alert:

Phishing, spearphishing, CEO fraud/business e-mail compromise (BEC) and ransomware represent a group of critical security threats that virtually every organisation will encounter at some point – and most already have. While phishing actually started in the 1995-1996

While phishing actually started in the 1995-1996 timeframe, it became a much more serious problem in the mid-2000s. The logical evolution of phishing – spearphishing (targeted against a group, a company or individuals within that company) and CEO Fraud/BEC (which targets senior executives within a single company) – are increasing rapidly and costing organisations hundreds of millions of dollars each year.

Add to this the fact that ransomware is reaching epidemic proportions and increasing at an even faster pace, growing from an impact of “just” $24 million in 2015, but increasing to approximately $1 billion in 2016.

   Key takeaways in this paper

* The vast majority of IT decision-makers are highly concerned about phishing, malware infiltration, spearphishing and ransomware… and for good reason: most organisations have been the victim of these types of attacks and exploits, as well as others, during the past 12 months.

* The cyber security solutions that are in place today are somewhat effective, but a significant proportion of decision-makers report that their problems with phishing, spearphishing, CEO Fraud/BEC and ransomware are getting worse over time (although the proportion reporting that their ransomware problem is staying the same or getter better increased from our 2016 survey). For most of the cyber security capabilities that organisations have deployed to combat these threats, the majority of decision-makers report they are not highly effective.

Please click here to read the entire white paper.


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Article source: http://www.itweb.co.za/index.php?option=com_content&view=article&id=163701