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Cyber security update, July

Ravi Bindra
Ravi BindraCISO
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SoftwareOne believes there is a need for additional information when it comes to cyber security, as organisations have made it clear that investment in a proper security strategy is paramount. SoftwareOne’s monthly “Cyber security update” provides information on the most recent threats, the latest breaches and how to react to them in order to stay on top of malware and ransomware threats.

Latest security breaches

Norway government hit by cyber-attack

In a recent incident a dozen Norwegian government ministries have fallen victim to a cyber-attack carried out by unknown agents. Erik Hope, the head of the government agency responsible for serving ministries, stated that they have successfully addressed a vulnerability in one of their supplier's platforms, which has now closed the security gap. Norway's state sector has been hit by cyber-attacks before. In June 2022, it suffered a distributed denial-of-service (DDoS) attack, blamed on a "criminal pro-Russian group”.

Estée Lauder Confirms Data Breach

Estée Lauder Companies Inc. has officially acknowledged a data breach, resulting in a partial system shutdown. The organisation is actively investigating the extent of the data accessed by an unauthorised third party. Some of the company's systems were compromised, leading to the successful acquisition of data by the perpetrator. A spokesperson for the company has commented that their main focus is on remediation efforts to restore services and systems completely, and is implementing measures to secure operations.

Cyber security awareness

New IBM report: security AI and automation may reduce cost of data breaches

According to IBM's 18th edition of the Cost of a Data Breach report, the average cost of a data breach for UK organizations is £3.4m. However, organizations that have extensively integrated artificial intelligence (AI) and automation into their cyber security systems experience a significant reduction of approximately £1.6m in breach-related costs. Additionally, the report highlights that advanced security technology allows organizations to detect and contain data breaches faster, reducing the average breach lifecycle by up to 108 days.

Cyber security intelligence

Increased Truebot Activity Infects U.S. and Canada Based Networks

The Cybersecurity and Infrastructure Security Agency (CISA), the Federal Bureau of Investigation (FBI), the Multi-State Information Sharing and Analysis Center (MS-ISAC), and the Canadian Centre for Cyber Security (CCCS) have issued a joint Cybersecurity Advisory (CSA) due to the emergence of newly identified Truebot malware variants, targeting organisations in the United States and Canada. Truebot is a botnet that has been previously employed by malicious cyber-groups, such as the CL0P Ransomware Gang, to gather and extract sensitive information from their targeted victims.

Hot topic of the month:

How AI Is disrupting and transforming the cyber security landscape

Forbes reports on Blackberry’s recent research which indicates that AI is becoming an essential tool in the fight against cyber-crime. The research revealed that the majority (82%) of IT decision-makers interviewed in a survey plan to invest in AI-driven cyber security in the next two years and almost half (48%) plan to invest before the end of 2023.

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5 steps of a successful cyber security awareness program

Cyber-criminals aren’t only targeting vulnerabilities in your infrastructure – they’re targeting your employees too. Learn how awareness can stop them.

5 steps of a successful cyber security awareness program

Cyber-criminals aren’t only targeting vulnerabilities in your infrastructure – they’re targeting your employees too. Learn how awareness can stop them.

Author

Ravi Bindra

Ravi Bindra
CISO

Ravi holds over 20 years’ experience as a cyber security evangelist, holding multiple leadership roles in the Swiss pharmaceutical industry, such as Global Head of Risk Management, Global Head of Architecture and Global Head of Security Operations.