July Cyber Insights from Kovrr
The Cyber-Sphere?was created to simplify enterprise cyber risk management decisions.?
Additionally, if you missed it, we offered a complimentary analysis to help our readers understand their financial exposure to ransomware.
The 2022 Verizon Data Breach Investigations Report (DBIR) leads off with a startling statistic: Credentials are the number one overall attack vector hackers use in data breaches. Use of stolen credentials accounts for nearly half the breaches studied by Verizon, far ahead of phishing and exploit vulnerabilities, which account for 19% and 8% of attacks, respectively. Botnets, the fourth most common entry path for hackers, represent a mere 1% of attacks.
Several healthcare organizations have?recently reported?data breaches, affecting the data of around 300,000 individuals. The breaches, affecting Central Florida Inpatient Medicine, Kaiser Permanente and Alameda Health System, were all a result of email account breaches, probably stemming from credentials stolen following a phishing attack. Stolen credentials are the main way organizations are breached, as stated in the?2022 version?of the Data Breach Investigations Report (DBIR). As threat actors seek to acquire and capitalize on stolen credentials, the number of stolen and compromised credentials is growing, and it has?been stated?that as of 2022, there are over 24 billion account credentials exposed online, a 65% increase since 2020.?
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It’s not hard to build consensus that an organization is exposed to cyber risks. What tends to be difficult, however, is establishing the financial impact of those risks that contain many variables and unknowns . As a result, it can be nearly impossible to engage in meaningful dialogues and decision-making processes about cybersecurity investments and operational priorities based on estimations instead of real data . Cyber risk quantification (CRQ) offers a solution.?
When you think of cybercrime affecting the finance industry, your thoughts might go to the banking sector or multinational financial conglomerates. Yet these are far from the only areas of finance at risk for cyber-attacks. Private equity firms also face significant?cybersecurity threats.?
New Board Member joins Kovrr's CISO Advisory Board
Former Coca-Cola and Time Warner CISO, Renee Guttmann joined our CISO Advisory Board.?Renee brings extensive expertise in the cybersecurity market and will be instrumental for advancing Kovrr’s Quantum CRQ solution and providing data-driven cyber risk insights to our clients.
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To learn more about Kovrr's Quantum platform, contact us today to?book a demo.?
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