61% of Critical Communications Industry Suffers Malware Attacks

Daily News
| The European | 12 March 2020

One in every five of the critical communications industries had encountered a cybersecurity incident in the last 12 months according to information acquired by Finbold. Additionally, just 36% of them test their cybersecurity systems regularly, with 4.5% confirming that they have a full-time ethical hacker on staff. 

The International Wireless Communications Expo (IWCE) surveyed at least 597 professionals working within the critical communication industry to benchmark today’s technologies and reviewed the technological challenges within the industry. 

Interestingly, one in every five said that they do not have any form of cybersecurity systems set in place. 

Through this survey, it was discovered that 61% of the participants had encountered malware attacks, while 56% have been phishing victims. 27% have dealt with ransomware, 22% have had data breaches, while 16% have had distributed denial of service. 

10% reported that they have advanced threats. In such threats, unauthorized users’ access and spend a long time in their system or network without being detected. 

 

Cyber-attacks disrupt normal operations and services. They also have financial implications for repairing them. 38% cost less than $100K, 10% cost between $100K and $1,000,000 while 2% cost $1 million – $10 million.   

Numerous firms are putting data protection and cybersecurity agreements in place with third-party vendors. They do that since attacks and their implications can come through third parties. 

64% of the participants said that they have third party cybersecurity agreements with their vendors in place. On the other hand, 36% said that they do not have any cybersecurity in place for vendors. 

For more information visit: finbold.com

For Daily News follow The European Magazine. 

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