Organizations are increasingly kept on their toes as a cybersecurity breach could spell the loss of consumer trust, increased scrutiny from regulators and massive economic damage. Source: Shutterstock
ALONG with the development of technology, the threat of cyberattacks is also on the rise with hackers deploying more and more sophisticated methods to exploit system vulnerabilities to steal valuable data or sabotage businesses.
And accordingly, organizations are constantly on their toes as a single breach could cause significant damage to the company.
A recent hypothetical scenario simulated as a stress test for risk management concluded that a coordinated malicious cyber attack that is spread via email could inflict up to US$193 billion in economic damages.
The malicious email which serves as the vector in the scenario is automatically forwarded to all of the recipient’s contacts once opened, encrypting all data on 30 million devices across the world. The data can then will be held ransom.
Titled, ‘Bashe Attack: Global infection by contagious malware,’ the report…
