How Cyber Attacks are Impacting the Technology Sector in 2017

Media Division | May 30, 2017

Cyber attacks have caused a constant distress since the world of the internet began.  This year is unfortunately no different.  As many companies prepare themselves for the possibility of a data breach using new security threat intelligence, hackers continue to develop new ways of attack quicker than ever.

A recent study by the Ponemon Institute revealed that although more businesses have put data breach response plans into place, many companies have become quite complacent, which in turn is preventing them from being fully ready to respond to the attacks they are likely to face.  They lack in not only updating their response plans and practicing them but also in keeping up with the new types of attacks occurring.

The impact of cyber attacks on the technology sector has not been small and will continue to be significant in 2017. For instance, the 2014 breach of 500 million Yahoo accounts is to this day being perpetuated. It was reported by Experian that those stolen credentials were resold and used by other criminals to hack into a wide variety of services. Consequently, the aftershock can resonate for years to come and ultimately affect companies that have never been directly hacked.

Cyber Intelligence and Threat Mitigation

The technology industry remains in a relatively sensitive position when it comes cyber attacks.  Tech and software companies are big business for hackers since they house very valuable commodities. Software and intellectual property are being stolen and sold not only on public markets but also underground between cyber criminals.

Microsoft, who employs a team of 3,500 security engineers, was most recently in the news after the recent massive ransomware crisis that affected thousands around the world in more than 150 countries.  The attack apparently used a hacking tool built by the U.S. National Security Agency which was leaked online last month.

Microsoft president Brad Smith wrote in a recent blog post, “We have seen vulnerabilities stored by the CIA show up on WikiLeaks, and now this vulnerability stolen from the NSA has affected customers around the world.”  Smith makes a point that government intelligence agencies should share software flaws with technology companies to better secure the internet. Although clearly, the cyber criminals themselves are to blame, the existing vulnerability and apparent lack of cooperation is definitely not helping.

The issue has become a shared responsibility between private and public organizations as well as consumers. We are all using the same technology on the same network and we all need to understand, coordinate, and take action with confidence within our community.

What You Can Do To Protect Your Company

Tech companies especially, need to protect their critical private infrastructures. Today, employing effective cyber threat intelligence is a must. Developing options and actions to reduce threats and implementing such strategies should be part of any company’s risk mitigation.  It’s about preventative actions, not just damage control.

Massive Alliance can help you discover a threat before it happens. Our Global Early Warning System is a real-time managed service that works 24/7 as an external threat detection platform which discovers loopholes in software and various systems. We collaborate with intelligence groups and authorities around the world to provide you with a source to mitigate security challenges you may be facing.

We can discover and provide insight on any adversary discussion against your company and expose them before any damage is done. Contact us at 813-434-0922 for more information on cyber intelligence and threat mitigation. Don’t wait until your company has been breached.  Call us today.

Massive's Media Division publishes timely news and insights based on current events, trends, and actionable cross-industry expertise.