Covid-19 Has Launched A Pandemic Of Cyber Crime

The large scale transition to remote working, with most workers switching to to working from home during the Covid-19 pandemic has led to an increased danger of cyber attacks on small businesses. The cyber security experts from FirstWave Cloud Technology say that small businesses were particularly vulnerable to attacks from hackers while teams are working from home. 

Almost four in 10 UK businesses (39%) and more than a quarter of British charities (26%) experienced cyber attacks or breaches in the past 12 months according to the UK Government's 2021 Security Breaches Survey, although FirstWave think this figure could be too low, with many breaches undetected. 
 
Yet despite the potentially increased vulnerability of organisations to data breaches during lockdown, only 35% of  UK businesses are now deploying security monitoring tools compared to 40% in the year before the pandemic, according to the latest Government figures. User monitoring is also down from 38% pre-pandemic to only 32% indicating that many businesses are simply less aware of the breaches and attacks their staff are facing.

Businesses that have identified attacks experience them at least once a week with phishing and impersonation the most common strategies used by hackers.

More than one in five of UK businesses targeted by hackers (21%) ended up losing money, data or other assets during the past year, with an average cost in cash terms of £8,460. It’s believed many hackers view small businesses as an easy target for data breaches and cyber-attacks as teams transitioned from cloud networks at the office to far less secure home WiFi networks. FirstWave report a massive 4,000% increase in malicious traffic over the past 12 months as the pandemic has impacted every aspect of our lives. 

Yet despite the added risks presented by potentially less secure home WiFi networks the UK Government believe 84% of businesses have made no change to the importance they place on cyber security during the pandemic crisis. Globally, the picture is even more dramatic with an average 2,244 daily cyber attacks during 2020, that’s one every every 39 seconds with almost half of all attacks (43%) targeting small and medium businesses. 

Experts predict that cyber crime could inflict damages totaling as much as $6 trillion USD globally during 2021, more than any nation’s economy other than the US and China. 

Now many organisations are rethinking their cybersecurity and moving away from the traditional office-centric network perimeter in favour of a user-centric digital perimeter, less of a physical perimeter around a workplace and more of a virtual perimeter around employees wherever they are located. FirstWave makes enterprise grade cybersecurity-as-a-service available to all organisations around the world who don’t want or can’t afford to own and operate their own security infrastructure.  It has developed a new product called the Cloud Content Security Platform (CCSP) which offers customers a unique solution to address ever increasing cybersecurity risk.

CCSP is the only known platform in the world that takes the world’s leading, enterprise-grade cyber security technology across email, web, firewall and end point protection, integrates it and makes it available through a single pane of glass. It solves broader problems associated with the operational complexity that comes from having to manage an array of point solutions. 

Cybersecurity as a service wraps services like enterprise-grade email, web, firewall virtual appliances and endpoint protection into a tightly integrated security solution. It's managed through a single pane of glass and designed to easily integrate new technologies as they become available. "This approach puts robust enterprise-grade security within reach of those organisations which don't necessarily have the budget, resources or expertise to handle it themselves or to opt for a traditional capital intensive enterprise-grade security solution." says Simon Ryan, FirstWave's CTO.

GovUK:        Verizon:       Cyber Security Ventures:      University Of Maryland:      FirstWave

You Might Also Read: 

The Impact of Covid-19 On Cyber Security Threats:

 

« Critical Pipeline Network Shut Down By Hackers
Trump Dodges Social Media Ban »

Infosecurity Europe
CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

Clayden Law

Clayden Law

Clayden Law advise global businesses that buy and sell technology products and services. We are experts in information technology, data privacy and cybersecurity law.

TÜV SÜD Academy UK

TÜV SÜD Academy UK

TÜV SÜD offers expert-led cybersecurity training to help organisations safeguard their operations and data.

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

NordLayer

NordLayer

NordLayer is an adaptive network access security solution for modern businesses — from the world’s most trusted cybersecurity brand, Nord Security. 

IT Governance

IT Governance

IT Governance is a leading global provider of information security solutions. Download our free guide and find out how ISO 27001 can help protect your organisation's information.

Site24x7

Site24x7

Site24x7 is an AI-powered observability platform for DevOps and IT operations.

Homeland Security Advanced Research Projects Agency (HSARPA)

Homeland Security Advanced Research Projects Agency (HSARPA)

HSARPA's Cyber Security Division (CSD) was set up to address DHS cyber operational and critical infrastructure protection requirements.

Exatel

Exatel

Exatel is Poland’s leading provider of ICT security services.

CyberProof

CyberProof

CyberProof aims to give clarity and confidence to businesses worldwide using a new risk-based approach to cyber security services.

Indeed

Indeed

Indeed is a worldwide employment-related search engine for job listings covering job types in all industries, including cybersecurity.

CybExer Technologies

CybExer Technologies

CybExer provide an on-premise, easily deployable solution for complex technical cyber security exercises based on experience in military grade ranges.

AppGuard

AppGuard

AppGuard prevents breaches by blocking applications from performing inappropriate processes using our patented dynamic isolation and inheritance technologies.

Touchstone Security

Touchstone Security

Touchstone Security is a company with a passion for technology, a hyper-focus on cybersecurity, and a special affinity for cloud technology.

Sierra Ventures

Sierra Ventures

Sierra Ventures is an early-stage venture firm investing globally with a focus on Next Generation Enterprise and Emerging Technologies.

Kinnami Software

Kinnami Software

Kinnami is a data security company that equips organizations with the tools they need to secure and protect highly confidential documents and data.

VeriClouds

VeriClouds

VeriClouds is a password verification service that helps organizations detect compromised passwords and stop account takeover attacks.

RocketCyber

RocketCyber

RocketCyber is a Managed SOC platform empowering Managed Service Providers (MSPs) to deliver security services to small and medium businesses.

Tromzo

Tromzo

Tromzo's mission is to eliminate the friction between developers and security so you can scale your application security program.

tTech

tTech

tTech is the first and foremost company providing outsourced Information Technology solutions to businesses in Jamaica.

Unisys

Unisys

Unisys is a global information technology company providing industry-focused solutions integrated with leading-edge security to clients in the government, financial services and commercial markets.

Sri Lanka CERT

Sri Lanka CERT

Sri Lanka CERT is the National Centre for Cyber Security, which has the national responsibility of protecting the nation’s cyberspace from cyber threats.