Wave Systems Corp. (fka WAVXQ)

[Genz2]

Phishing emails impersonate the White House and VP Mike Pence

https://www.bleepingcomputer.com/news/security/phishing-emails-impersonate-the-white-house-and-vp-mike-pence/
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Microsoft: Cyber-Criminals Are Targeting Businesses Through Vulnerable Employees

https://www.infosecurity-magazine.com/news/cybercriminals-targeting/?utm_source=dlvr.it&utm_medium=twitter

Microsoft has warned that cyber-criminals are preying on people’s vulnerable psychological states during the COVID-19 pandemic to attack businesses. During a virtual press briefing, the multinational technology company provided data showing how home working and employee stress during this period has precipitated a huge amount of COVID-19-related attacks, particularly phishing scams.

Working from home at this time is very distracting for a lot of people, particularly if they are looking after children. Additionally, many individuals are in a stressful state with the extra pressures and worries as a result of COVID-19. This environment is providing new opportunities for cyber-criminals to operate.

“We’re seeing a significant increase in COVID-related phishing lures for our customers,” confirmed Ann Johnson, corporate vice-president, Microsoft. “We’re blocking roughly 24,000 bad emails a day with COVID-19 lures and we’ve also been able to see and block through our smart screen 18,000 malicious COVID-themed URLs and IP addresses on a single day, so the volume of attacks is quite high.”

Johnson therefore urged businesses to adapt and step up security practices in this environment. She noted that in the rush to get employees set up working from home productively, putting in place more stringent measures has been something of an afterthought for many businesses.

“It’s important to educate users and tell them to pause and think before they click on a link, and the second thing we’re telling organizations is that they need to enable multi-factor authentication for 100% of users, 100% of the time, because if their users are stressed, they are going to click on those links and potentially give away their credentials,” added Johnson.

In the briefing, Microsoft stated that the countries most targeted by COVID-19 attacks have been China, the US and Russia, followed by Japan and parts of Latin America. The global technology giant has also seen signs that the volume of attacks is beginning to normalize over the past few days.
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Only a Quarter of Orgs ‘Focus’ on Cyber-Attack Prevention

https://www.infosecurity-magazine.com/news/quarter-orgs-focus-prevention/?utm_source=dlvr.it&utm_medium=twitter

A new report from the Ponemon Institute has revealed that just 24% of organizations focus on optimizing cyber-attack prevention capabilities, despite 70% of security professionals believing that the ability to effectively prevent attacks strengthens security posture.

The research report, The Economic Value of Prevention in the Cybersecurity Lifecycle, sponsored by Deep Instinct, compiled survey responses from over 600 IT and IT security practitioners within organizations and revealed that a large percentage of companies prioritize cyber-attack detection and containment over prevention methods.

For example, according to respondents, whilst 79% of security budgets are being allocated to detection, containment, recovery and remediation activities, just 21% gets dedicated to prevention, even with 80% of those polled stating that prevention is the most difficult thing to achieve in the cybersecurity lifecycle.

The study determined that effective adoption of a preventative solution, when compared to the current spending of security departments and the cost of attacks, would result in significant cost reductions and require lower overall investment.

“This study shows that the majority of companies are more effective at containing cyber-attacks after they happen because it is perceived to be more accountable. This explains why cybersecurity budgets focus on containing attacks rather than preventing them, as well as the increased rate of breaches despite investments in cybersecurity solutions,” said Dr Larry Ponemon, the Chairman and founder of the Ponemon Institute.

“Prevention of cyber-attacks is perceived to be too difficult, but as companies continue to suffer revenue losses due to cyber-breaches, we expect budgets to start allocating increased resources to preventative solutions.”

Guy Caspi, CEO and co-founder of Deep Instinct, added that most companies still operate under a policy of ‘assume breach,’ believing that it is more pragmatic to contain a cyber-attack after penetration.

“This is no longer an economically viable long-term strategy,” he said. “The value of prevention is clear – for any type of attack, prevention saves significant time and money.”
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