Ransomware cyber attacks have been the focus of many recent cyber news stories. In a recent report by Accenture, it has been revealed that attacks doubled from 2016 to 2017.
The Cyber Threatscape Report 2018 has also identified five key areas that are influencing the cyber threat landscape.
Find out what the latest cyber security report has revealed below.
Iranian threats
The midyear cybersecurity risk review by Accenture states that the “Iranian threat is a growing force to be reckoned with”.
The report suggests that the increased use of ransomware from Iran is set to continue as Iranian threat groups plan on expansion.
US intelligence experts have recommended that the country stays on high alert as possible Iranian cyber attacks could occur after a reinstatement of sanctions.
Critical Infrastructure
It has been predicted that oil and natural gas could be on hackers’ hit list moving forward, stating that “critical infrastructure is a high-value target for threat actors.”
This information is sadly nothing new as oil industry giant Shell warned about the catastrophic effects of a security breach on their business and other oil businesses back in 2012, when they started to see an increasing number of attacks on their IT system.
Financially motivated attacks increase
According to the report’s findings “advanced persistent threats are becoming more financially motivated”.
Although the criminal cyber group FIN7 has been less active in 2018 than it was in 2017, the lack of activity does not mean that the threat the group poses is not present. The report says that FIN7 and Cobalt Group have been “been targeting large financial institutions and restaurant chains successfully.”
The rise of cryptocurrency
Accenture believes that cybercriminals have increased their use of cryptocurrency miner malware – a trend which is set to continue into the next year. This comes after reports by Kaspersky Lab that that 2.7 million users were struck by malicious miners in 2017, which is up by 50% on the previous year.
The report states that Monero appears to be a popular choice for cybercriminals as it can be easily and efficiently mined. The report states that “tracking Monero transactions is more difficult than tracking Bitcoin transactions”.
Supply chain threats
Recently, DCI has reported on fresh warnings about cyber attacks aimed at supply chain software. The Accenture report has also highlighted that cybercriminals are continuously targeting supply chains and their strategic business partners, for either political or financial gain.
The report recommends “third-party assessments, audits, and enhanced monitoring should be considered essential pieces of supply chain defences.”
Protecting your business from cyber threats
If you are worried about the rise of cyber attacks and how it could affect your business, Cyber Essentials certification can protect your business from the most common cyber threats.
It is incredibly important that defence suppliers invest in cyber security. On top of protection, certification means that your business complies with MOD requirements.
Cyber Essentials is mandated by the MOD to bid for MOD tenders. Without this, suppliers are less likely to win defence procurement opportunities through the MOD.
To find out more about Cyber Essentials, download the free Cyber Essentials scheme summary.
