Ransomware to remain cybercrime mainstay in 2018: Trend Micro

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The trend of known vulnerabilities being used in major cyber attacks will continue in 2018 with the ransomware business model being a cybercrime mainstay, a new report said on Wednesday.

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Cybersecurity solutions leader Trend Micro predicted an increase in Internet of Things (IoT) vulnerabilities as more devices are manufactured without security regulations or industry standards.

Overall, the increased connectivity and enlarged attack surface present new opportunities for cybercriminals to leverage known issues to penetrate a corporate network, the company said in a statement.

“The ransomware attacks will manifest itself in a more ‘specialised’ and ‘targeted manner’, unlike the earlier approach. With respect to India, in 2018, we will experience more number of attacks targeted at the ATMs, especially malware attacks.

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“We also expect to see a rise in security incidents across Public Cloud platforms,” said Nilesh Jain, Country Manager, India and SAARC, Trend Micro.

Business Email Compromise (BEC) attacks will also continue to gain popularity with attackers, as the return on investment for successful attacks is quite high.

“We at Trend Micro are constantly scouting out future threats that will have the greatest impact for businesses, and we predict which vulnerabilities will make the biggest waves in the coming year,” said Rik Ferguson, Vice President of Security Research for Trend Micro.

Many devastating cyberattacks in 2017 leveraged known vulnerabilities that could have been prevented had they been patched beforehand.

“This trend will continue next year as corporate attack surfaces expand and expose more security holes. While this remains a challenge for enterprises, executives should prioritise vulnerability management as they make 2018 cybersecurity plans,” Ferguson cautioned.

Threat actors will also leverage growing technologies, like blockchain and machine learning, to enhance obfuscation against traditional cybersecurity protections in 2018.

Ransomware to remain cybercrime mainstay in 2018: Trend Micro

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The trend of known vulnerabilities being used in major cyber attacks will continue in 2018 with the ransomware business model being a cybercrime mainstay, a new report said on Wednesday.

shutter

Cybersecurity solutions leader Trend Micro predicted an increase in Internet of Things (IoT) vulnerabilities as more devices are manufactured without security regulations or industry standards.

Overall, the increased connectivity and enlarged attack surface present new opportunities for cybercriminals to leverage known issues to penetrate a corporate network, the company said in a statement.

“The ransomware attacks will manifest itself in a more ‘specialised’ and ‘targeted manner’, unlike the earlier approach. With respect to India, in 2018, we will experience more number of attacks targeted at the ATMs, especially malware attacks.



“We also expect to see a rise in security incidents across Public Cloud platforms,” said Nilesh Jain, Country Manager, India and SAARC, Trend Micro.

Business Email Compromise (BEC) attacks will also continue to gain popularity with attackers, as the return on investment for successful attacks is quite high.

“We at Trend Micro are constantly scouting out future threats that will have the greatest impact for businesses, and we predict which vulnerabilities will make the biggest waves in the coming year,” said Rik Ferguson, Vice President of Security Research for Trend Micro.

Many devastating cyberattacks in 2017 leveraged known vulnerabilities that could have been prevented had they been patched beforehand.

“This trend will continue next year as corporate attack surfaces expand and expose more security holes. While this remains a challenge for enterprises, executives should prioritise vulnerability management as they make 2018 cybersecurity plans,” Ferguson cautioned.

Threat actors will also leverage growing technologies, like blockchain and machine learning, to enhance obfuscation against traditional cybersecurity protections in 2018.

Symantec says it will lay off 66 workers at Gateway facility in January – The Register

SPRINGFIELD — Sixty-six Symantec employees will lose their jobs next month as the cyber­security firm has begun a drastic reduction of its local workforce.

The layoffs mark the continued downsizing of Symantec’s once-substantial Gateway workforce.

In a federally required notice, Symantec said the employees were notified in November of their pending job losses. The last day for 64 employees is Jan. 17, while the last day for the remaining two employees is Jan. 26, according to the notice.

Symantec announced in October that it planned to make substantial cuts to its local workforce, but it did not disclose any employee numbers.

“The company has decided to scale back its Springfield operations as part of a larger workforce and real estate efficiency plan,” company spokesman Matt Nagel wrote Tuesday in an email. “Many of the roles currently in Springfield will be relocated to other cities where Symantec operates.”

Symantec, once Lane County’s largest technology company, has not said how many workers it will keep in Springfield or whether it ultimately will close the site.

It’s unclear how many workers are employed at the complex now.

The layoff notice is required under the Worker Adjustment and Retraining Notification Act, a federal law that requires most employers with 100 or more workers to give notice 60 days before plant closings and mass layoffs.

A Symantec spokesman said in October that Symantec’s ­office in Springfield’s Gateway area would have space for 150 seats, or call center workstations, by the end of March. A single workstation can be shared by more than one employee.

The spokesman said at that time that some Springfield employees would be offered transfers to other Symantec locations or become remote employees, working away from the office.

California-based Symantec, a computer software and cyber­security company, employed a peak of about 1,400 people at its Gateway campus in 2007. Since then, the site has shrunk amid corporate restructuring. Now it has 700 to 800 employees, and is expected to dwindle to about 200 people, some employees estimate.

Local economic development officials have said the laid-off employees should be able to land on their feet given the area’s burgeoning technology sector and a favorable economy.

Follow Christian Hill on Twitter @RGchill . Email [email protected] .

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