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A great report on the new boys and girls on the hacking block.
Cyber statistics are always difficult to trust. Reporting cyber attacks is not a legal requirement, it is difficult to empirically pin down the size of the problem. However the increased interest of the media, better access into the dark web and the sales and marketing of hackers gives a better feel for the size of the problem. It appears to be getting bigger.
Cyber attacks show no sign of slowing down, if the stats are to be believed 2020 – 2021(105%) and 2022 to 2023(56%) saw an increase in reported ransomware attacks. With the top 3 groups being Lockbit 3, Alphv and Clop notching up over 1,800 successful attacks in 2023. With no signs of slowing down.
It should come as no surprise that the market is opening up to new entrants (there are no barriers to entry). That are affiliated with existing groups or going out on their own and exploiting zero day vulnerabilities or software and hardware that goes unpatched.
The cyber market is more profitable than cocaine production (1980s) at over 90% profit margin, it causes more damage than any other form of crime and is inextricably linked with geopolitical tensions, AI and ESG. It is a risk that many of its victims find hard to manage due to lack of knowledge, skills and experience and resources, and it is a risk being regulated in the U.S and EU.
It is a risk that covered boards are required to demonstrate oversight, assurance and attestation of, or risk civil or criminal penalties.
Ted Dziekanowski Brian D. McCarthy
Veritas GRC
#cybersecurity #cyberriskmanagement #cyberregulation
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