Cybercrooks are upping their game

Charl Ueckermann, managing director of AVeS Cyber Security, says ransomware attackers have upped the ante when it comes to extortion.

“Instead of just planting malicious code on victims’ computers that locks them out of their systems, these cybercriminals threaten to release sensitive company or customer data publicly if their demands are not met,” he warns.

Cisco’s midyear cybersecurity report has predicted a new generation of more sophisticated ransomware that can spread by itself and hold entire networks hostage.

“The truth is, [information technology] can’t control all connec- tivity and use of technology any longer. Regardless of the strength of their technology defences, businesses must assume they will still be attacked,” Terry Greer-King, head of security at Cisco, said. Recent research has found that 92% of devices run software with known vulnerabilities.

Some industries are particularly vulnerable, with financial services and retail businesses running software that is at least six years old. Elsewhere, the government, electronic, healthcare and professional sectors are at the highest risk of malware attack.

As cited by Ueckermann, research company Gartner predicts that by 2020 there will be 25-billion connected devices, up from 6.8-billion in 2016. “This represents a vast number of entry points for hackers to gain access to personal information and corporate systems,” he said.

Ueckermann said the first “headless worms” — malicious code that targets connected devices like smartphones and wearable technologies — are expected to emerge by the end of 2016 and will be capable of spreading through billions of computers.

Industry experts implore businesses to pinpoint vulnerabilities, strengthen their defences and have a plan in place to respond to any possible cyberattack.