Cisco Security Report Reveals the Increased Impact of Industrialized Attackers

NEW DELHI, INDIA: The Cisco 2016 Annual Security Report released today, which examines threat intelligence and cybersecurity trends, reveals that only 45 per cent of organizations worldwide are confident in their security posture as today’s attackers launch more sophisticated, bold and resilient campaigns.

While executives may be uncertain about their security strength, 92 percent of them agree that regulators and investors will expect companies to manage cybersecurity risk exposure. These leaders are increasing measures to secure their organizations’ future, particularly as they digitize their operations.

The report highlights the challenges businesses face due to the rapid advancements of attackers. Hackers increasingly tap into legitimate resources to launch effective campaigns for profit-gain. Additionally, direct attacks by cybercriminals, leveraging ransomware alone, put $34 million a year per campaign into their hands. These miscreants continue to operate unconstrained by regulatory barriers.

“Security is resiliency by design, privacy in mind, and trust transparently seen. With IoT and digitization taking hold in every business, technology capability must be built, bought, and operated with each of these elements in mind. We cannot create more technical debt. Instead, we must meet the challenge head on today," said John N. Stewart, senior vice president, chief security and trust officer, Cisco.

Businesses are up against security challenges that inhibit their ability to detect, mitigate and recover from common and professional cyberattacks. Aging infrastructure and outdated organizational structure and practices are putting them at risk.

The study sounds a global call-to-arms for greater collaboration and investment in the processes, technologies and people to protect against industrialized adversaries.