Science & Tech
Cisco 2018 cyber security report says Ramsomeware has evolved into a more sophiscated tradecraft threatening companies in Middle East and Africa
THE 2018 Cyber Security Report released recently by Cisco has highlighted the evolution of ransomware as a more sophisticated tradecraft by attackers. The report revealed that 94 percent of Middle East and Africa companies surveyed, suffered a breach in the last one year.
Cisco in the report published on its website raised awareness on the increasing and rampant sophisticated ransomware attacks, urging businesses in Nigeria and in other African countries to set the bar higher on cyber security.
Analysing the impact of ransomware attacks that hit various countries in 2017, the IT security company also called on businesses to adopt security measures and to take a comprehensive approach across people, process, technology and policy to protect their businesses from hackers and cyber criminals.
The Cisco Cyber Security Report identified the evolution of ransomware as one of the most significant threat developments over the past year. The report also highlighted that malware had become more vicious and harder to combat and that attackers are developing more skill in creating malware that can evade traditional sandboxing. It also revealed that adversaries are increasingly embracing encryption that is meant to enhance security, to conceal command-and-control activity and that nearly half of the security risk that organisations face stems from having multiple security vendors and products.
Olakunle Oloruntimilehin, Country General Manager of Cisco Nigeria, explained the need for businesses and enterprises to adopt advanced methods of cyber security. “Security is getting more complex and the scope of breaches is expanding. Several companies are hit by cyber breaches and attacks every year causing losses in millions of naira and stealing highly classified information.
“It is therefore imperative that any organisation that desires to stay safe and minimise risk or loss, address cyber security at the top, with executive leadership setting the tone and engender a ‘security-first-always-and-everywhere’ culture that flows throughout the organisation,” he said.
The Cisco 2018 Security Capabilities Benchmark Study reveals that 94 percent of companies in the Middle East and Africa suffered a breach in the past year and that 34 percent of breaches resulted in more than half of systems being impacted. The study also indicated that nearly a quarter of organisations in the region manage more than 21 vendors and cite lack of security personnel as one of the biggest obstacles to security.
Corroborating the importance of robust cyber security practices, Tomi Amao, systems engineer and security expert at Cisco, said: “Cisco researchers observed a two-fold increase in malicious web traffic volume in roughly over 12-months. This alone demonstrates that cyber adversaries continue to learn and evolve. The time to raise the bar in cyber security is now.
“That is why at Cisco we take pride in being able to educate and provide businesses with the solutions and best practices required for effective cyber security. Our threat researchers have a reputation for timely, accurate and innovative work, and our network of talented teams, are devoted to driving impactful outcomes for our customers.”
Now in its eleventh year, the Cisco 2018 Annual Cyber Security Report offers security industry data, analysis and insights about attacker behavior over the past year. The report highlights findings and insights, derived from threat intelligence and cyber security trends, observed over the past 12-18 months, and provide recommendations designed to help organisations and users defend against attacks.
Cisco has an integrated and comprehensive portfolio of security technologies to provide advanced threat protection. Cisco technologies include next generation firewalls, intrusion prevention systems (IPS), secure access systems, security analytics, and malware defense; which work together to deliver effective network security and incident response.
– Apr. 7, 2018 @ 4:10 GMT
AE
Tags: Middle East - Cisco Ransomware threatens 94% of Companies in Africa
