Modern-Day Cyber Attackers Are Swift As Lightning And More Sophisticated Than Ever

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Back in 2017 when the Australian cybersecurity firm Nuix conducted a poll to find out how long hackers take to infiltrate a system, 80% said they take no more than 12 hours. 

Things have changed — cyber attackers have become even faster and more subtle.

Hackers Up Their Game

According to a 2022 report released by the cyber security firm Crowdstrike, hackers need an average of 98 minutes to break into a computer network. The time is slightly higher compared to the 2020 average of 92 minutes, but considering it takes 11 days on average before an attacker is detected, 98 minutes is still a remarkably fast time for breaching cyber defenses.

According to United Kingdom security firm Sophos, 11 days is more than enough time for an attacker to get a detailed overview of the entire targeted network before wrecking it.

As the adoption of cloud-based services keeps accelerating, possibly because they make file sharing and collaboration easy, cloud services have now become targets for attackers. Some of the common cloud attacks include cloud vulnerability exploitations, credential theft and cloud service provider abuse.

Cyber Costs Hit An All-Time High

A global study conducted by IBM Corp. IBM on over 500 organizations revealed that  it costs companies an average of $4.24 million for each data breach. This figure is the highest in the 17-year period of the report. The report also shows that data breaches surged during the pandemic, with costs rising by 10% because of the adoption of telecommuting. 

The healthcare, retail, hospitality and consumer manufacturing industries are among the industries that experienced an increase in data breaches owing to the huge operational changes during the pandemic. The report shows that healthcare breaches are the most costly with an estimated cost of over $9 million per occurrence.

What’s The Solution?

While cyberattacks are increasing, cybersecurity companies such as CyberArk CYBR, Fortinet Inc. FTNT and Visium Technologies Inc. VISM are also moving forward to help companies improve their cyber defenses.

Visium is a firm based in Fairfax, Virginia, focused on global cybersecurity technologies, big data analytics, and offers tools and automating services to support enterprises in protecting their data, business applications, and Internet of Things (IoT) on their networks and in the cloud.

Visium’s main product, TruContext, powered by MITRE Corp.'s proprietary Cygraph technology platform, is a network modeling, analysis and visualization tool that uses graph database technology and is capable of capturing raw data from multiple sources and performing analyses so a security analyst can know exactly where an attack is originating in real time.

TruContext provides understanding of the cybersecurity posture of an enterprise, enabling a user to quickly determine system level dependencies and impacts of any cyber vulnerabilities and exploits. 

This unique feature helps the user to have a much clearer insight on how a compromise on a single asset can have a domino effect on other connected assets and domains throughout a system.

Visium Technologies is just beginning to attract attention in the cybersecurity industry. Recently, the company announced a partnership with IREX-AI, a company which connects public safety cameras and sensors to secure the  private cloud, analyzing data in real-time and enabling  proactive opportunities to prevent security and public safety incidents.

Visium's True Context platform improves other cybersecurity companies’ cyber security defenses. In essence, Visium has the very real potential to partner with most cybersecurity enterprises in addressing the challenges of their clients. 

You can learn more about Visium's TruContext here.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Photo by Mika Baumeister on Unsplash