IT Insights Cyber Security and Data Analytics
Tackling cyber security with data analytics IN APRIL 2016, Verizon released its ninth annual Data Breach Investigations Report which seeks to address and analyze reported security trends and breaches, incidents and other vulnerabilities over the previous year. The report consisted of 67 contributing organizations, 100,000 security incidents, 2,260 confirmed data breaches and 82 countries represented. Key report findings indicated: • 89 percent of breaches had a financial or espionage motive. • 63 percent of confirmed breaches involved weak, default or stolen passwords. • 90 percent of cyber-espionage breaches capture trade secrets or proprietary information. • 95 percent of confirmed web application breaches were financially motivated. • 89 percent of phishing campaigns are executed by organized crime syndicates.
Much Has Been Done to Combat Breaches, but Acute Threats Remain MASSIVE DATA SECURITY BREACHES continue to surface against well-known businesses with similar trends as in prior years, such as point-of-sale intrusions, payment card skimmers, phishing attacks and hacking, and malware activity. Top industries targeted were purported to be public sector, finance, professional services and healthcare. Organizations have made considerable efforts to enhance IT security since then. Recently-enacted legal statutes and regulatory practices also recognize the need for enhanced security. In 2015, the following actions were taken: • The Federal Financial Institutions Examination Council (FFIEC) issued its Cyber Security Assessment Tool in June 2015 to help financial institutions identify risks and evaluate cyber security preparedness. • The Payment Card Industry Security (PCI) Standards Council issued an update in April 2016 to PCI version 3.2. The Secure Sockets Level (SSL) method of encryption was deemed unacceptable by that update, prompting affected organizations to adopt Transport Layer Security (TLS) as a protocol for protecting the privacy of transmitted data. • President Barack Obama signed an Executive Order in February 2015 to promote private sector cyber security information sharing as a means of combatting risks and enhancing organizations’ capabilities to respond to cyber security incidents.