The problem with dependence on connected technology is it makes us vulnerable; not only to system failure, but also ghosts in the machine — and we’re not talking Casper. In the last year, 11 companies lost more than a billion data records in 13 breaches, 48% of consumers experienced a data breach, and cyber attacks cost the Asia Pacific region $1.7 trillion collectively.
As digitalisation has brought more everyday tasks online, copious entry points have opened up to digital criminals — and they have become increasingly adept at exploiting them. It goes without saying that battling cyber villains won’t be easy, but businesses can gain a fighting chance of success by shifting focus to the source of crime, not just the fallout.
Is the issue too big to fix?
Companies know that online attacks can damage business revenue and reputation; the latest ESET consumer survey shows 77% would feel negatively about a company after a breach – yet motivation to tackle the hackers seems limited. While Asia Pacific is especially susceptible — home to nearly a third of global digital crime — only 20% of IT and business decision makers view online security investment as a vital business differentiator, and one in five have opted to avert risk by delaying digital transformation efforts entirely.
The most likely reason behind these attitudes is that cyber hazards are now seen as normal and inevitable. Not only have major security incidents become daily headlines, but criminals are also considered too difficult to catch. They can use the web to launch ransomware, take over networks, and illegally access customer accounts via multiple devices — from anywhere in the world. And by leveraging masking techniques, they can do so anonymously. Tools such as Virtual Private Networks (VPNs), proxy servers, Tor networks and Domain Name Systems (DNS) allow malicious actors to disguise their real identity and falsify location.
But reliance on these tactics could be the key to unravelling crime networks and activities, if businesses take the right approach…Click here to read full article.
