With over 1 billion malware programs out, and over 560,000 new pieces of malware being released daily, lessening the gap between infection, detection, and response is nearly impossible. 50% of SMBs reported that they don’t have a cybersecurity plan in place, while an estimated 32% of all companies haven’t updated their cybersecurity toolkit in over three years.
In order to keep up with the pace of malware spreading, machine learning and AI detection tools are needed to accelerate detection, learning, and mitigation. Armed with real-time intelligence, cybersecurity teams can find trends like the correlation between malware links that lead to ransomware and address the issues before it is reduced to a claim on the insured’s cyber insurance policy.
The number of phishing incidents tripled in 2021. And in 2022, major organizations like Okta have fallen victim to numerous public cyber breaches. Despite being warned of a potential breach, over eight months ago, numerous phishing scams have hit Okta, exposing hundreds of their business customer (including Twilio and Cloudflare), and thousands of logins,
Human behavior-centered interactions are prone to compromise; simply stated – innocent mistakes are made, An employee may let their guard down and click on something even if it’s suspicious.
The primary way policyholders address phishing is through end-user training, you know, the “click here every quarter and watch this 30-minute video about why you shouldn’t click on unknown links” approach. Empowering the end-users with information on why threats exist is important, but it isn’t providing enough protection. Phishing attacks are becoming more sophisticated while the frequency and scope of the incidents continue to rise over 100% year over year.
MFA bypasses have more than tripled in the last 18 months, rising to over 316k attacks per month in 2021. Microsoft, in particular, has been plagued with MFA bypasses, and in a separate incident, its highly touted passwordless biometrics solution was bypassed, exposing stored biometric data for consumer and business customers. Even Cisco’s DUO was compromised in a sophisticated MFA bypass scheme.
While MFA has been in place for a few decades, the pace at which tech advances is slower than hackers’ capabilities and workarounds. Gaps in the linkages between the identity, authentication, and authorization expose username, password, and the verification code. In the age of digital information, next gen cybersecurity is more important than ever and must be a top priority for any company that deals with confidential data,