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Cyber attacks driven by software vulnerabilities

Combatting the increased exploitation of software vulnerabilities with a layered 'defence in depth' cyber security strategy is essential to protect organizations according to a new report by specialty insurer Beazley.

The latest edition of Beazley Cyber Services Snapshot report presents global data on incidents handled by its cyber services including cause of loss by industry, ransomware drivers, business email compromise and data theft. Among the latest findings, ransomware incident trends demonstrate increased exploitation of software vulnerabilities; particularly notable is the speed at which these incidents occur.

The data reveals a fairly even split among the ways cyber criminals are able to launch ransomware attacks on organizations, underscoring the importance of a layered security strategy to keep today’s IT systems safe. With supply chain attacks further elevating this need for layered solutions, education on how to implement these tactics is vital.

Beazley head of cyber services, international Christian Taube said, “Over the past quarter, our cyber services team has seen an uptick in network attacks, many of which have been driven by cloud-based software vulnerabilities and with recent supply chain attacks on the rise worldwide, the access opportunities available to hackers are increasing.”

“Cyber criminals are getting quicker at identifying security weaknesses and using them to gain entry into networks. This means that organizations must work even harder to stay on top of these exposures – and to ensure that even if someone gains entry into their systems, multiple layers of defence are in place to prevent the worst outcome.”




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