Hackers will and always be ahead of us!
It has become extremely hard for fraudster to make money from stealing credit cards, internet banking details, personal information etc due to increase in security measures by majority of the banks.
Now they are hacking, encrypting data and requesting for ransom money before they release the data. They're doing their calculations right, they are requesting the ransom amount which is way less to what it would cost company to recover/decrypt. The senior management finding this approach much easier to recover.
THIS IS THE FUTURE OF INFORMATION SECURITY!
I have been saying this for ages that bad guys will and always be ahead of us. They motive is to make money, for years and years financial crime was the easiest way for them to make money. Due to increase security technologies deployed by banks such as two-factor authentications, chip readers, proactive fraud detections systems etc, it is extremely difficult for fraudsters to make money.
The wider phenomenon of data ransoming is overwhelmingly that of Trojans infecting individual PCs in order to encrypt consumers’ private data, but the latest Australian attack could be an example of a separate trend to target and attack specific types of business.
I believe we will continue to loose the battle with the bad guys because we are not proactive in information security. We always wait for bad guys to setup a trend so we can follow :)
We will take few years to protect their latest tactics and by that time they will already come up with a new way to make money.
Here are my suggestions:
It has become extremely hard for fraudster to make money from stealing credit cards, internet banking details, personal information etc due to increase in security measures by majority of the banks.
Now they are hacking, encrypting data and requesting for ransom money before they release the data. They're doing their calculations right, they are requesting the ransom amount which is way less to what it would cost company to recover/decrypt. The senior management finding this approach much easier to recover.
THIS IS THE FUTURE OF INFORMATION SECURITY!
I have been saying this for ages that bad guys will and always be ahead of us. They motive is to make money, for years and years financial crime was the easiest way for them to make money. Due to increase security technologies deployed by banks such as two-factor authentications, chip readers, proactive fraud detections systems etc, it is extremely difficult for fraudsters to make money.
The wider phenomenon of data ransoming is overwhelmingly that of Trojans infecting individual PCs in order to encrypt consumers’ private data, but the latest Australian attack could be an example of a separate trend to target and attack specific types of business.
I believe we will continue to loose the battle with the bad guys because we are not proactive in information security. We always wait for bad guys to setup a trend so we can follow :)
We will take few years to protect their latest tactics and by that time they will already come up with a new way to make money.
Here are my suggestions:
- We have to change our strategy, we need to be more proactive!
- We need to consider security in each and everything!
- We need to ensure disaster recovery and business continuity is considered in every business!
- We should stop relying on technologies!
- We need to understand process and people are more important then technology
- We need to find innovative ways of protecting our data tailored to business needs
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