Leveraging data from the international Cybernomics 101 study, the report assesses how challenges relating to security policies, management support, third-party access, and supply chains can undermine a company’s ability to withstand and respond to cyberattacks. Only 43% of surveyed organizations expressed confidence in their ability to address cyber threats.

The report identifies inconsistent security policies as a major hurdle, particularly for smaller businesses. Nearly half (49%) of smaller companies surveyed struggle to implement consistent security measures like authentication and access controls across their entire organization.

Over a third (35%) of smaller businesses surveyed believe senior management underestimates the significance of cyberattacks. Additionally, larger companies grapple with resource limitations, citing budget (38%) and a lack of skilled cybersecurity professionals (35%) as key challenges.

The report also raises concerns about supply chain security. Many organizations lack adequate control and visibility into the security practices of third-party vendors who may have access to sensitive data. This exposes the entire organization to potential breaches through the supply chain.

“For many businesses today, a security incident of some kind is almost inevitable,” said Siroui Mushegian, CIO of Barracuda Networks. “What matters is how you prepare for, withstand, respond to, and recover from the incident. This is cyber resilience. Advanced, defense-in-depth security solutions will take you most of the way there, but success also depends on security governance — the policies and programs, leadership, and more that enable you to manage risk. When NIST updated its benchmark cybersecurity framework earlier this year, it added security governance as a strategic priority.”

The report offers practical templates to help organizations manage cyber risk and map where they are in their journey toward cyber resilience. The cyber resilience checklist draws on the latest iteration of the U.S. National Institute of Standards and Technologies (NIST) Cybersecurity Framework and can be freely downloaded and printed from the Barracuda website.

Resources:

Get a copy of the report: https://www.barracuda.com/reports/cyber-resilience-report

The post Majority businesses struggle to manage cyber risks: report appeared first on Startagist.

According to data shared by Stocklytics.com, the annual cost of cybercrime will hit $9.2 trillion in 2024, one trillion more than last year. Furthermore, projections indicate a staggering 70% increase by 2028, reaching a jaw-dropping $13.8 trillion.

Costs Skyrocket Year After Year

Despite efforts to fight cybercrime, attacks like ransomware, data breaches, and phishing continue to wreak havoc. The Allianz Risk Barometer highlights the fear of cybercrime, with 40% of respondents naming it their biggest concern in 2023. This fear is justified considering the rising costs.

A Statista Market Insights survey reveals a 245% increase in global cybercrime costs between 2018 and 2020, jumping from $860 billion to a staggering $2.95 trillion. This includes financial losses, data destruction, lost productivity, and reputational damage. The pandemic accelerated digitalization, nearly doubling these costs to $5.49 trillion in 2021. Since then, the annual cost has been rising by over a trillion dollars each year.

Cybercrime Cost to Surpass Major Economies

In 2024, cybercrime is projected to cause $9.22 trillion in damages, exceeding the GDP of countries like Japan, Germany, India, and the United Kingdom. This figure is expected to skyrocket by 2028, reaching a staggering $13.82 trillion, a 16-fold increase from 2018.

Companies Increase Cybersecurity Spending

The rising cost of cyber attacks is forcing companies to invest more heavily in cybersecurity. In 2023, spending on security solutions and services reached $166.2 billion, and it’s expected to rise to $183.1 billion in 2024. Statista predicts continued growth, reaching $273.5 billion by 2028. In the next four years alone, companies are estimated to spend over $1.1 trillion on cybersecurity measures.

The full story and statistics can be found here:  https://stocklytics.com/content/annual-cybercrime-cost-to-jump-by-70-and-hit-13-8-trillion-by-2028/

The post Cybercrime costs set to hit $13.8 trillion by 2028; up by 70% appeared first on Startagist.

Virtusa:

Virtusa specializes in AI-driven cybersecurity solutions tailored for ecommerce businesses. Their expertise includes threat intelligence, fraud detection, and secure data management. Virtusa collaborates closely with ecommerce businesses to create customized defense strategies, ensuring that your unique security needs are met.

FireEye:

FireEye’s cybersecurity solutions are powered by advanced AI and machine learning algorithms. They excel in detecting and mitigating threats in real-time, safeguarding your ecommerce platform from evolving cyberattacks. FireEye’s AI analyzes user behavior to spot anomalies, helping you identify potential fraud or security breaches. This proactive approach minimizes risks associated with fraudulent transactions.

Noventiq:

Noventiq’s expertise lies in facilitating and enabling digital transformation processes, empowering their customers to adapt to the evolving digital landscape. It provides cloud protection services and AI algorithms, ensuring that customer data and applications hosted in the cloud are secure and protected from unauthorized access. They can also develop and deploy an AI power assistance to ease the shopping experience.

Sophos:

Sophos employs AI to enhance threat detection and response. Its AI-powered solutions can identify and block threats at various entry points, from email to web traffic. As more ecommerce businesses migrate to the cloud, Sophos offers cloud-specific AI solutions that protect your data and applications in cloud environments.

NortonLifeLock:

NortonLifeLock’s AI-powered endpoint security solutions provide robust protection against a wide range of threats, from phishing attacks to malware. With ecommerce relying heavily on customer identities, NortonLifeLock offers AI-driven identity protection services to ensure customer data remains secure.

In the world of ecommerce, cybersecurity should never be an afterthought. These five cybersecurity brands, armed with AI technology, can help you secure your digital shopping experience. By investing in advanced threat detection, behavioral analytics, and proactive threat hunting, you can fortify your online store’s defenses and build trust with your customers. Don’t compromise on security; embrace AI-powered cybersecurity to safeguard your ecommerce business in the face of evolving cyber threats.

The post Five AI-driven cybersecurity brands for ecommerce protection appeared first on Startagist.

1. Fortinet:

Fortinet is a global leader in network security, providing strong protection for online gaming platforms. They use FortiGate firewall technology to secure networks and FortiWeb to protect against attacks on web applications. Their advanced intrusion prevention systems (IPS) help gaming companies stay ahead of potential threats.

2. McAfee:

McAfee is a well-known name in cybersecurity, offering comprehensive security solutions for individuals and businesses. Gamers benefit from real-time protection against malware, ransomware, and phishing attacks. McAfee’s gaming mode optimizes system resources during gameplay, ensuring a smooth experience without compromising security.

3. Noventiq:

Noventiq is a global provider of digital transformation and cybersecurity solutions. They specialize in helping businesses adapt to the digital world securely. Their artificial intelligence algorithms keep customer data safe and detect any hacking attempts on gaming servers.

4. F-Secure:

F-Secure, based in Finland, focuses on gaming security. They provide anti-cheat solutions for game developers and platforms to prevent unfair advantages and cheating. Using behavioral analysis and machine learning, F-Secure effectively detects and blocks cheating attempts.

5. Cloudflare:

Cloudflare is a popular security and performance provider, protecting online assets, including gaming platforms. Their Web Application Firewall (WAF) safeguards gaming websites from attacks like SQL injections and cross-site scripting (XSS). With their robust network infrastructure, Cloudflare reduces delays and enhances the gaming experience.

In conclusion, as online gaming becomes more popular, so does the need for cybersecurity. These five top cybersecurity brands play a crucial role in safeguarding online gaming platforms. Thanks to their expertise, gamers can enjoy their favorite pastime with confidence, knowing their privacy and safety are in good hands. It’s a win-win for the gaming community, ensuring a secure and enjoyable environment for players of all ages.

The post Five cybersecurity firms protecting online gaming platforms appeared first on Startagist.

CMS IT Services, the leading digital transformation partner of enterprises globally, has released a new framework for Identity and Access Management – the number one problem plaguing CISOs in the remote-working digital economy.

“With a staggering 4000 cyber-attacks carried out daily, cybercrime surged by 800 per cent during the pandemic. Social engineering is a prime threat, with hackers employing AI-assisted tools to steal user identities and perpetrate supply chain attacks and enterprise-wide fraud. Our 5A framework helps businesses stay ahead of disruption by heightening identity governance for all entities in the system – be it in-house employees, partners, or third-party integrations – while also preserving the user experience”, explains Anuj Vaid, Executive Director, CMS IT Services.

In modern enterprises, a hybrid IT architecture – along with a complex web of distributed users, devices, and applications – amplifies the access points to data and system vulnerabilities. With the volume, velocity, and variety of operational data generated every minute, it’s impossible to scale a piece-meal approach to control who has access to what, where and how.

The 5A framework utilizes the principles of Ikigai to ensure that all the layers and dimensions of functions that are fulfilled in an enterprise by different people, at different places come together in a reliable and secure way. This holistic approach is the foundation of a comprehensive suite of scalable security solutions that span the whole expanse of areas and entities in a contemporary business.

“The best part is that the 5As of IAM approach doesn’t require you to re-engineer your cybersecurity strategy. Instead, it helps you maximize the power of your existing security investments and fortify your enterprise-wide defenses without having to make new capex investments”, added SudhansuNayak, HeadCybersecurity, CMS IT Services.

A whitepaper on how to leverage the 5A methodology for enterprise-wide Identity and Access Management is available here. https://bit.ly/3jJ9crk

The post CMS IT SERVICES releases White Paper on Cyber Security appeared first on Startagist.

RACE brings together the software, systems, and the team to deliver secure domain targeted automation services at optimum cost. It provides customers access to a state-of-the-art BOT library with a large selection of digital workers & 50 Automation Anywhere certified RPA consultants with domain expertise, working cohesively. 

Speaking on the occasion Anuj Vaid Executive Vice President, CMS IT Services said, “CMS IT is committed to enabling a secure scalable digital business model for our customers who are taking the lead and changing the game by taking their business model digital. We have expertise across domains and our role is increasingly becoming that of a business enabler as it is of a technology enabler”

Another highlight of RACE is its sophisticated engine that facilitates the assessment and selection of high-impact processes for automation, helping to accelerate deployment and improve ROI. The framework supports core processes of finance, supply chain, manufacturing, banking operations, insurance operations and human resources.

“Prospect-centered organisations have an immediate requirement to tackle the large backlog of tasks, which are digital, high-volume, and repetitive. Intelligent Automation enabled on cloud, will act as a key lever for employees to access digital records and maintain transactions remotely. Under any circumstances, remote intelligent automation will help companies ensure smooth customer delivery”, said Milan Sheth, EVP-IMEA, Automation Anywhere.

RACE is offered as a part of a dedicated AI-driven Remote Intelligent Automation Delivery Centre located in Bangalore. The centre, which was also launched today, provides end-to-end development and support for all intelligent automation needs.

“RPA and Support automation are a top agenda for the customers in their digital journey. CMS IT has been at the forefront of this industry-wide initiative for a long time now and has emerged as a leader in this area.” Said Krishna Thirumalai, Chief Delivery Officer, CMS IT Services

“We have made substantial investments in Intelligent Automation over and above the Remote Automation Delivery Model. We have built up a techno-functional team that understands business processes as much as they understand technology “, added Sunil Menon, Practice Head, Digital Services at CMS IT

About CMS IT Services

CMS IT services is an industry leader in Managed IT services and system integration. We combine world-class cloud, digital, automation and cyber security expertise with a core strength in leveraging optimal technologies to rapidly create efficiencies and scale for our customer’s operations.

We offer an extensive array of services to help our customers thrive on next-generation technologies; helping build, transform and manage their IT operations. Our services include cloud assessments and migrations, application digitization and modernization, digital experience enhancement, information management and cybersecurity, IT automation, and product development support.

The post CMS IT Services makes Intelligent Automation affordable with India’s first AI-driven automation shared delivery model appeared first on Startagist.

He could have become yet another ordinary child doing some odd jobs after dropping out of school at the age of 13, had his love for computers not come to his rescue.

Today, he is one of the most sought-after cyber security experts in India. And his clientele include various premier investigation agencies, who come to him to get his assistance on cases related to cyber crime.

“When I was a kid, my father used to get me toys and gadgets. Being a curious kid, I would cut them open to understand how they worked,” Ludhiana-born Trishneet Arora told Startagist. “I even ripped open the toys my elder brother used to get, out of curiosity.”

His curiosity grew stronger when he got a computer at the age of 11. This device was an opening for his entry into the vast world of cyber security.

“This computer was my life and my interest in this gadget grew by the day. I learnt all about computing, hardware, and internet. To acquire more knowledge, I used to read a lot of books and watched videos,” he explained.

But his parents were not supportive of his new-found passion and they wanted him to excel in studies rather than follow his dream and passion. But he was not the one who could easily be cajoled. He spent most of his times on this gadget.

As a result, he failed in the final exams in the 8th standard. He then dropped out of school and completed his class X through distant learning.

Over the next few years, Arora’s love for technology grew even stronger and he used to be engrossed for hours learning about gadgets. Within two years, he amassed a lot of information about computer systems, internet, basics of IT infrastructure and little bit of coding.

Gradually, he learned the basics of hacking. In 2012, he realised that there was a huge demand for ethical hackers in the country. But rather than being just another hacker, he wanted to give back to people in terms of what he knew about hacking and security frameworks.

He got calls and invitations from various schools and colleges to conduct training and workshops on cyber security. He also got an opportunity to address students at IIT Roorkie, which led to corporate trainings.

This was a breakthrough in Arora’s life. Sensing a huge opportunity in cyber security, he  started TAC Security Solutions, a cyber security startup, in 2013 in Chandigarh. “While cyber security is an vital factor for enterprises, it is often neglected in today’s scenario. We are trying to make a difference to governmental and private organisations security infrastructure and create awareness on security challenges,” he added.

TAC Security is now a leading cyber security startup in India. It has now grown beyond India and provides protection to corporations against network vulnerabilities and data theft. It also provides cyber security training to the Central Bureau of Investigation (CBI), India’s premier investigative agency, in addition to the Punjab Police, Gujarat Police, Reliance Industries Limited, Amul, Ralson (India), and Avon Cycles. Outside of India, it now also has clients in Dubai and the UK.

TAC recently rolled out TAC-CERT to help those whose websites, emails, cloud data, and other digital assets, from getting hacked. The company also received funding from Vijat Kedia, MD of Kedia Securities.

“”We are now in talks with VCs to raise more than $10 million in Series A to expand our business and launch new products,” he concluded.

Now, at the age of 23, he has already accomplished a whole lot things that his peers could not even dream of. He has also three books on hacking: The Hacking Era, Hacking Talk, and Hacking With Smart Phones.

The post This 23-year-old advises India’s premier investigation agencies on cyber security. And he is a school dropout appeared first on Startagist.