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Cyber Threats at a High
Monday 04 September 2017
The British Government is rightly committed to driving the UK’s cybersecurity expertise with a £1.9 billion investment in the field over the next 5 years. Its aim is to foster collaboration between businesses, scientists and engineers from Britain’s most promising security SMEs. So hopefully the future of the UK’s cybersecurity industry is in safe hands.
So what are the latest attacks and malware strains that the UK’s leading cybersecurity companies are collaborating hard to combat?
Worryingly, cyber threats affecting enterprises have been at a record high in the last year. Ransomware is top of the offenders list - a specialised form of malware that encrypts files and renders them inaccessible until the victim pays a ransom. This kind of extortion is an extremely serious problem. And it’s quickly getting worse.
Ransomware attacks such as WannaCry and Petya have been really damaging. WannaCry was the biggest attack of its type in history with more than 300,000 computers effected in 150 countries. In Britain, the NHS was the worst hit, with patients being turned away from GPs surgeries and some operations were cancelled. With around $5 billion damage done by this type of attack globally in the last year mainly caused by downtime rather than the ransom itself being paid, it doesn’t look like this issue will go away anytime soon.
The big challenge for the world’s security companies and their customers is making sure they keep one step ahead of the hackers.
So what’s the next possible target?
One area of huge concern is the internet of things. Under controlled conditions, hackers have already demonstrated success in hacking into driverless cars. With lives put at risk, it doesn’t get more serious than that. With hundreds of millions of home and business devices potentially linked up to the internet, the potential for mayhem and carnage is mindboggling.
To find out more about the latest developments in cyber security register now for Cyber Security Europe, located at IP EXPO Europe.