Advertise with fastmoving.co.za
 
 

Cyber attacks target teleco industry
Cyber attacks target teleco industry

Cyber attacks target teleco industry

SERVICES NEWS

BusinessTech.co.za - Jul 14th 2014, 10:44

Kaspersky Lab has found that targeted cyber attacks are on the rise year-over-year, and identified the most likely business sector targets. 

A survey of nearly 4,000 IT managers across 27 countries revealed that 12% of all businesses reporting a targeted attack in 2013 have risen from the 9% average reported in 2013 and 2012.

A recent report, compiled by Intel-owned McAfee software, found that cyber-crime is having a significant economic impact on South Africa and the rest world, costing the country over R5.8 billion each year – a situation set to get worse.

Globally, 18% of organisations in the Government & Defense sector reported at least one targeted attack within the past 12 months.

The rate of targeted attacks reported within the Government & Defense sector was the highest reported in this year’s survey, a notable increase from the global average of 12% reported across all business sectors.
When looking at data across all business sectors, it is also clear that targeted attacks are not just limited to the Government & Defense industry, Kaspersky said.

Other business segments have felt the brunt of targeted attacks at a higher-than-average rate, including the Telecommunications industry where 17% of businesses reported targeted attacks, and the Financial Services and Transportation & Logistics sectors, both of which reported targeted attacks within the last 12 months at a rate of 16%.

The increase in the prevalence of targeted attacks, both in volume and in types of business targets, comes at a time when the uncovering of high-profile targeted attacks is increasing at an alarming pace, Kaspersky said.
While the overall amount of data stolen from targeted attacks is lower than the losses that result from general malware attacks, general malware attacks themselves are much more common (an average of 61% of businesses reported malware attacks compared to an average of 12% reported targeted attacks).

However, the value of the data stolen from a targeted attack is much more likely to be highly valuable to the attackers, and the loss of this highly sensitive data would cause more long-term damage to a company’s business outlook, Kaspersky pointed out.

A “targeted attack” typically consists of several malicious components that operate in tandem to bypass an organisation’s security measures, infect machines, and steal sensitive data.From 2014 Copyright, BusinessTech. All right reserved. 

Related News

The signs are here that South Africa has reached its economic crossroad
03/12/2018 - 11:37
While South Africa attempts to shore up its own economy amid high inflation rates and a stuttering inherited financial system, the continent as a whole continues to grow. The big question, though, is whether South Africa will get left behind in terms of international investment if it doesn’t improve its financial situation, and how to avoid this.

Egypt lifts SA fresh goods ban as listeriosis threat subsides
20/09/2018 - 14:32
The department of agriculture, forestry and fisheries says Egypt's government has lifted its temporary suspension of fresh fruits and vegetable imports from South Africa, which stood as a precaution to prevent the spread of listeriosis there.

Foreword for Sowetan/Sunday World National Stokvel Survey
31/07/2018 - 13:17
Ubuntu is one of those uniquely African concepts that, for many, define what it means to be South African. A beautiful word that exemplifies a philosophy of caring for the welfare of every individual in a community – that special acknowledgement that “I am because we are.” Ubuntu is a spirit that ignites people to work together, for the benefit of all.

Japanese now upbeat about deals with SA
15/05/2018 - 09:42
Trade officials from Japan, who previously had felt sidelined under the Jacob Zuma administration, are in a more buoyant mood, believing that relations with SA have entered a new chapter.

Falling exports take their toll on SA’s current account deficit
09/12/2016 - 12:07
SA’s current account deficit widened more than expected in the third quarter, as the value and volume of exports fell amid weaker output data from the productive sectors of the economy.