C-level executives the newest target of cyber crime: Verizon

HYDERABAD: C-level Managers , Who Have Access To A Company's Most Sensitive Information, Are Now Targeted By Social Engineering Attacks, Verizon, A Digital Network Solutions Provider.

According To De Verizon 2019 Data Leak Investigations Report (DBIR), Released Here On Wednesday, C-level Executives Are Increasingly And Proactively Targeted By Social Breaches Leading To A Rise In Social Engineering Attacks With Financial Motivation.

Senior Executives Are 12 Times More Likely To Be The Target Of Social Incidents, And 9 Times More Likely To Be The Target Of Social Breaches Than In Previous Years And Financial Motivation Remains The Key Driver, The Report Said.

Financially-motivated social engineering attacks (12 per cent of all Data Leak es analysed) are a key topic in this years report, it said highlighting the need to ensure all levels of employees are made aware of the potential impact of Cyber ​​crime .

The 12th edition of the DBIR includes data from 73 contributors, the highest number since launch and analysed 41,686 security incidents, including 2,013 confirmed breaches .

The report said that 25 per cent of all breaches were motivated by the gain of strategic advantage (espionage) and that actors identified as nation-state or state affiliated were involved in 23 per cent of breaches .

It said that 69 per cent of breaches were perpetrated by external threat actors while internal actors accounted for 34 per cent and that 71 per cent of breaches were financially motivated .

The Report Further Stated That Ransomware Attacks, Good For 24 Percent Of The Malware incidents and is the number-two ranked Malware type .

A total of 52 per cent of breaches featured hacking, 33 per cent included social attacks and 28 per cent involved Malware , the report said .

According To Verizon 2019DBIR, Compromise Of Web-based E-mail Accounts With Stolen Login Data (98 Percent) Rose And Was Seen In 60 Percent Of Hacking A Attacks Web Application .

This years findings also highlights how the growing trend to share and store information within cost-effective cloud based solutions is exposing companies to additional security risks .

Analysis found a substantial shift towards compromise of cloud-based email accounts via the use of stolen credentials .

In addition, publishing errors in the cloud are increasing year-over-year .

Misconfiguration ('miscellaneous errors') led to a number of massive, cloud-based file storage breaches, exposing at least 60 million records analysed in the DBIR dataset .

This accounts for 21 per cent of breaches caused by errors, the report said .

Executive director (security professional services) of Verizon Bryan Sartin said, "As businesses embrace new digital ways of working, many are unaware of the new security risks to which they may be exposed .

" They Really Need Access To Cyber Detection Tools To Gain Access To A Daily View Of Their Security Posture, Supported With Statistics On The Latest Cyber Threats."

Security needs to be seen as a flexible and smart strategic asset that constantly delivers to the businesses and impacts the bottomline .

"There is an urgent need for businesses large and small to put the security of their business and protection of customer data first. Often even basic security practices and common sense deter Cyber ​​crime ," Sartin said .