The Insider’s Guide to Cybersecurity: Threats Are Multiplying (2024)

Jamie Bsales

6057541

https://www.keypointintelligence.com/media/2374/jbsales.jpg

IBM’s Threat Intelligence Index is off the charts

Feb 26, 2024 7:00:00 PM

By Jamie Bsales

See Also

Multiplication Tables

Check out Keypoint Intelligence’s Cybersecurity page!

In this series, in conjunction with Agile Cybersecurity Solutions (ACS, our cybersecurity testing and consulting partner), Keypoint Intelligence investigates the many facets of cybersecurity to deliver insight and strategy. Check back here often for more free information and insights to help you navigate the potentially treacherous waters of cybersecurity.

When it comes to cyberattacks, if it seems like things are getting worse—and that’s because they are. According to the just-released X-Force Threat Intelligence Index from IBM, 2023 saw a 71% spike in cyberattacks caused by exploiting users’ identities to compromise organizations worldwide. That means cybercriminals are opting to use log-in methods to gain access to networks via valid (but stolen) authentication credentials, rather than good old-fashioned hacking. (Is there no honor anymore?)

IBM gleaned this insight by analyzing more than 150 billion security events per day from more than 130 countries. The company’s X-Force threat-management team estimates that there are billions of compromised credentials accessible on the Dark Web; exploiting those accounts is the path of least resistance into an organization. In fact, IBM notes that cybercriminals are investing many more resources in operations to obtain users’ identities. The company estimates a 266% uptick in info-stealing malware designed to steal personal identifiable information like emails, social media and messaging app credentials, banking details, and crypto wallet data. Compounding the problem, in addition to being an easier path to entry, attacks using stolen credentials are also harder to detect than traditional hacks—meaning bad actors can siphon information and wreak havoc on systems for much longer without being detected.

Keypoint Intelligence Opinion

Unfortunately, such crime pays. Crypto forensics company Chainalysis recently released data showing that ransomware payments worldwide essentially doubled—rising from an estimated $567 million in 2022 to $1.1 billion in 2023. This finding, combined with the findings in the IBM report, illustrate the importance of protecting personably identifiable information and log-in credentials. Multi-factor authentication solutions—such as those offered by Cisco Duo and Okta—are a must. Also important is end user training so that employees will more readily recognize the phishing scams and other social-engineering attacks that are becoming ever harder to distinguish from legitimate communications thanks to AI-generated content.

Browse through our Industry Reports Page (latest reports only). Log in to the InfoCenter to view research, reports, and studies on cybersecurity through our Workplace CompleteView Advisory Service. If you’re not a subscriber, contact us for more info by clicking here.

Keep Reading

The Insider’s Guide to Cybersecurity: Data Privacy Week Kicks Off with a Massive Breach

The Insider’s Guide to Cybersecurity: Digital Transformation Brings Cybersecurity Vulnerabilities

The Insider’s Guide to Cybersecurity: Cyber-Resilient Innovation

The Insider’s Guide to Cybersecurity: Emerging Trends in Cybersecurity Compliance

The Insider’s Guide to Cybersecurity: Common Cybersecurity Challenges

Related blogs

Eco-Efficiency in Action: Canon’s Manufacturing Headquarters in Virginia CVI operates under a stringent framework of standardization, ensuring that every product leaving its facilities meets the highest levels of quality and environmental responsibility. During our visit, it became evident that these standards are not just a set of guidelines but are deeply integrated into every aspect of their manufacturing process. For example, Canon's injection molding operations at CVI are a demonstration of the company’s commitment to precision, quality, and consistency. Their ability to manufacture their own tooling for injection molding ensures that the parts produced are not only of the highest quality, but that they also meet rigorous environmental standards. Price Is a Big Deal…but Quality Is King! In late 2023, Keypoint Intelligence completed a comprehensive multi-client study to gain a better understanding of how the demand for print is changing in key vertical industries. This survey serves as an update to similar vertical market research that was conducted in 2020. The verticals we covered in depth included education, finance/banking, healthcare, hospitality, insurance, manufacturing, retail, and publishing. In April 2024, we published a blog covering the survey’s findings on media mix and the importance of personalization. This blog explores the key considerations for selecting a print service provider (PSP). There is no question that price is important, but print quality is the top consideration by a wide margin. We discuss here some of the key findings from this study. Artificial Intelligence Takes Center Stage at InfoComm 2024 It’s very likely that, within arm’s reach, there are multiple devices that would allow you to communicate with just about anyone on the planet. Yet, according to Joe Pham, Chairman and CEO of QSC | Q-SYS, it has never been more difficult to keep employees connected and engaged.If I learned one lesson at InfoComm 2024, it’s that AI can solve that problem.