“Cybercrime costs are increasing”
A single ransomware incident can, on average, run a tab of over $713,000. About 21% of 200 SME businesses in the U.S. said they are completely ready to manage IT security and protect against threats. This number is dangerously small, but cloud computing may provide the security against the threats that many firms need.
“Compliance needed by May 25, 2018”
Many organizations have dedicated countless hours for preparation for the European Union General Data Protection Regulation, but too many have just started taking steps to ensure compliance. The new regulations will have international consequences that must be addressed by firms who deal across borders, as the legislation has dire consequences for those who don’t comply.
“Marcus Hutchins indicted for Kronos malware”
Federal authorities have nabbed user MalwareTech, aka Marcus Hutchins, for the creation and distribution of the Kronos banking Trojan. In an unsuspected move, authorities arrested Hutchins after his role as the researcher who stopped the expansion of the WannaCry ransomware earlier this year. WannaCry was deemed an extremely high risk malware, spanning over 150 countries in just a matter of days.
“Proprietary data collection and intellectual property need protection”
Bad actors targeting vital institutions that had previously been sacrosanct have become harder to detect. The damages inflicted in many cases have dealt virtually fatal blows to corporate finance and organizational operations.
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