Page 160 - Cyber Defense eMagazine April 2023

Secure Enterprise Collaboration Tools Are Critical

in Light of Remote Work and Cyber-Attacks.

By Allen Drennan, Principal and Co-Founder of Cordoniq

Cyberattacks escalated in 2022 as critical industries remain a frequent target of cybercriminals. New data
from Check Point Research revealed that global cyberattacks rose by 38% in 2022 over the previous
year. Many of these attacks were led by small hacker groups focused on exploiting collaboration tools
used in work-from-home environments.

With critical industries and infrastructure under attack, cybersecurity remains the top investment priority
for CIOs as firms need to manage escalating threats. Ransomware is a leading cause of data breaches,
and key, high-profile targets include healthcare organizations, universities, financial institutions,
telecommunications, as well as governments.

Ransomware attacks are not only costly but more difficult to identify and contain, according to a report
from IBM. Last year, the average cost of a ransomware attack reached $4.54 million, while additional
consequences range from loss of data to eroded trust from customers.

The reality of cyberattacks is that malicious actors will access data any way they can and will exploit any
vulnerability. Phishing, stolen credentials, and social engineering are among the leading attack vectors.
However, AI and apps such as ChatGPT are emerging as new threats, as bad actors are exploiting these
apps to write malware and devise more sophisticated social engineering attacks.

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