Disruptive Technology Increases Cyber Security Threats: Research

Wipro through its research has shown that disruptive technology had caused a significant rise in cyber security threats globally. According to the firm’s maiden studyin 2017 -State of Cyber Security Report,in 2016, there was a 53.6% increase in the number of records stolen globally from the 2015 figure as a result of cyber security domain disruptions.

Citing the micro, meso, and macro trends in cyber security and disruptions, the research revealed that public breaches caused an increase in negative sentiments on social media against the firm involved. User credentials (passwords) consisted about 56% of the breaches reported as stolen data, meaning that stolen data could be used to cause damage.

The study also reported that among the commonest exploit kits used by cyber criminals was Nuclear Angler and RIG at 33.3%. Citing the study, in 2016 viruses and worms accounted for 19% to 20% of malware attacks while Trojans accounted for 56%. The report advised that CISOs (Chief Information and Security Officers) need to always track down these issues since most of the security products were susceptible to exploitation.

The increase in hacking activities was also as a result of the current trend of Internet of Things, like connected health, cars, camera and industrial automated devices. Businesses now take cyber security very seriously. It is essential to identify risks in close to real-time and equip the stakeholders to take necessary actions based on need.

The Internet of Things devices have low processing footprint and memories with minimal security capabilities, including patching. These devices are easy targets for hackers once they are online with an IP address. These hackers create custom malware to take total control and use them as a base for cyber-attacks.

According to the report, the responsibility for data privacy and governance remains centralized, resting on the shoulders of 71% of organizations, also, amongst data security controls access to data topped the list. The study also presented major discoveries on cyber defense, vulnerabilities, and attacks useful for teams across cyber security risk management, strategy, and operations.

According to Wipro’s Vice-President for cyber-security and risk services, Sheetal Mehta, the study highlighted a blend of analysis and research on cyber weapons, vulnerabilities, and attacks and compares their effects on defense mechanisms. The research was carried out in 11 countries spanning across Asia-Pacific, South Asia, West Asia, Europe, and North America with interviews conducted in 139 firms across various sectors and industries.