Cisco’s cybersecurity report predicts DeOS attacks that shut down organisations permanently

By Callum Rivett
Share
Recent global cyberattacks such as WannaCry and Petya have impacted on companies and organisations in a way that has not been seen before on that scale...

Recent global cyberattacks such as WannaCry and Petya have impacted on companies and organisations in a way that has not been seen before on that scale – now, Cisco is predicting that new threats could cause fatal and permanent damage to systems.

Cisco’s 2017 Midyear Cybersecurity Report has forecasted “destruction of service” attacks which could destroy backups and safety nets, whilst the Internet of Things is offering more potential targets.

Security weaknesses in IoT are offering cybercriminals an opportunity too good to miss, as recent botnet activity is suggesting that some attackers “may be laying the foundation for a wide-reaching, high-impact attack that could disrupt the Internet itself,” according to the report.

Techniques are evolving to create the biggest potential for revenue for hackers, but tried and tested methods of spreading malware like spam emails and adware are “significantly increasing” as well.

RELATED STORIES

In 2016, ransomware brought in more than $1bn, whilst business email compromise led to a loss of around $5.3bn between October 2013 and December 2016.

Figures released in the report show that industries are reacting slowly to the threat, despite 32% of retail security leaders saying that they had lost revenue due to attacks in the past year.

Less than two-thirds of organisations say that they actively investigate security alerts, whilst healthcare is a particularly vulnerable target – 37% say that targeted attacks are “high-security risks.”

Steve Martino, Vice President and Chief Information Security Office at Cisco, said: “WannaCry and Petya illustrate that our adversaries are becoming more creative with how they orchestrate their attacks.”

“Many organisations are in a constant race against the attackers to sure up their security and close the obvious gaps, but they need to make security a priority.”

The Ashley Madison hack and subsequent data leak in 2015 cost them $11m, which should emphasise how attacks can have a “serious and long-term impact” on value, according to Fujitsu EMEIA’s VP Head of Enterprise & Cybersecurity Rob Norris.

“Cybersecurity is the single most alarming threat to businesses across Europe, with recent incidents only reinforcing the need for a robust security strategy,” commented Norris.

“Technology such as IoT, AI and big data opens up new potential for cyberattacks, as criminals become smarter and utilise technology that could halt a business in its tracks.”

Share

Featured Articles

Red Hat Steps Into AI Optimisation with Neural Magic Deal

IBM subsidiary Red Hat moves to tackle growing infrastructure challenges of LLM deployment with acquisition aimed at reducing computational costs

Kyndryl-Microsoft Study Shows Tech Sector’s Green Tech Gap

Research by IT services firm Kyndryl and Microsoft shows 84% of organisations prioritise environmental goals, yet only 21% deploy technology solutions

Accenture Report: How AI Threatens Corporate Net Zero Goals

Accenture research shows 45% of largest firms increased emissions despite pledges, while artificial intelligence could add 718m tonnes of CO2 by 2030

IBM Survey: 85% of Firms Lag Behind in AI Implementation

AI & Machine Learning

Why Tech Titans' Fortunes Soar as Trump Secures Second Term

Enterprise IT

How Meta’s Open Source AI is Giving US the Edge in AI Race

AI & Machine Learning