There is an increase in malware sophistication and hackers are now better at evading detection with the use of encryption. According to CISCO, because of this, leading CISOs are now relying heavily on automation.
Here are the big takeaways in building a presentation, slide deck or pitch:
- According to CISCO, more than half of the cyberattacks that was reported in 2017 resulted in financial damages that amounted to more than $500,000. It includes lost opportunities, customers, revenue and out of pocket costs.
Since malware has now grown to become very sophisticated, CISOs are now turning to AI or artificial intelligence to protect the assets of their companies and combat cyber threats. This information came from a security report from Cisco.
According to 39% of CISOs, their organizations are heavily reliant on automation for cybersecurity. Thirty-four percent of them said that they rely on machine learning and another 32% said that they are heavily reliant o AI.
Encryption was meant to improve security but it can also cause some confusion and challenges for the cyber defenders. Last October 2017, 50% of malicious and legitimate global web traffic was encrypted. It became more difficult to monitor and identify potential threats since encryption offers malicious actors a tool that can conceal their command-and-control activity. It gave them more time to operate and create havoc.
In the 12-month period, Cisco researchers were able to observe that there is a more than threefold increase in the encrypted network communication that inspected malware samples use.
In time, machine learning security tools may be able to learn how to detect unusual patterns in encrypted web traffic IoT and cloud environments automatically according to the report. However, there may be a lot of CISOs that report using these tools for the purpose of security. They may become frustrated with the high number of false positives that come from these systems. It is highly likely that the tools may improve over time according to the report. The technologies that mature can learn what the normal network activity may look like.
Attacks can still be very costly to businesses. A huge percentage of the attacks that the respondents reported resulted in financial damages that is more than $500,000. It includes out of pocket costs, lost opportunities, customers and revenue. In a survey with security professionals, in 2017, 32% of the breaches were able to affect more than half of their systems. It was up from 15% last 2016.
The evolution of malware last year demonstrated that our adversaries continue to learn. This came from Cisco’s chief security and trust officer and vice president, John N. Stewart in a press release. It is important that we raise the bar now and top down business led, technology leadership investments, and practice security that is effective. Since there are a lot of risks, it will be up to us to minimize it.
There is a recommendation from Cisco that the following enterprises can make sure to remain cybersecure.
- Access accurate and timely threat intelligence processes and data that allow for that data to become incorporated into security monitoring
- Confirm that you will adhere to corporate practices and policies for system, application, and appliance patching
- Conduct security scanning of application administration systems, microservice, and cloud service.
- Perform more advanced and deeper analytics
- Make sure to test restoration procedures and back up data more often.