Article posted: May 31, 2017

By Joakim Thoren, CEO

This week, Fortune reported Target reached an $18.5 million settlement with 47 states and the District of Columbia over a massive data breach in late 2013. The hits keep coming for Target: over the past four years, the mega retailer has shelled out $202 million as part of this costly data breach.

Continue Reading...

Article posted: May 18, 2017

By Joakim Thoren, CEO

Everyone is talking about the recent worldwide ransomware cyberattack, named WannaCry. A suitable name as the WannaCry ransomware attack was particularly vicious, shutting down hospitals and disrupting high-profile operations like Telefonica, FedEx and Renault.

According to a recent ECNMag article, this was the "largest ransomware attack observed in history." Europol Chief Rob Wainwright added, "More than 200,000 victims have been hit in 150 countries as of last week."

Continue Reading...

Article posted: May 09, 2017

By Joakim Thoren, CEO

Social engineering is a cybercriminal's best friend. That's according to Juniper Research, which recently published the "Cybercrime and The Internet of Threats 2017" whitepaper.

In its report, the Juniper team says that even with evolving methods for attempting unauthorized access of computing systems, the preferred route taken by most hackers is still this: duping users into opening the door. Simply put, cybercrime is often perpetrated through social engineering.

Continue Reading...

Article posted: Mar 17, 2017

By Joakim Thoren, CEO

News this week that Russian intelligence officers working with hackers were the masterminds behind the theft of 500 million Yahoo accounts is yet another cautionary tale for those who are not using two-factor authentication to protect their data.

While the salacious nature of foreign governments infiltrating the data of U.S. citizens is making headlines, home-grown hackers can inflict plenty of damage as well. Foreign or domestic, the hackers are out there. They want data and money and whatever else they can take.

Continue Reading...

Article posted: Jan 08, 2016

By William Houry, VP of Sales, Versasec

The year 2015 was rather illustrious for cyberattacks, with hacks both famous and even infamous. Among the most notable attacks – some for the sheer numbers of victims, some for who was hacked, and some for both – were the following:

Continue Reading...

Article posted: Dec 04, 2015

By Joakim Thorén, CEO

Information is Beautiful identified the biggest data security breaches since AOL's massive security blunder which compromised 92 million records in 2005. Interestingly, it seems there were at least a dozen breaches each year where hundreds of millions of records were compromised in retail, financial services, government, medical organizations and other industries. As in the AOL case, some of the most severe security leaks were attributed to lost or stolen equipment or insider threats.

Continue Reading...

Article posted: Oct 14, 2015

By Chad Lomax, Managing Partner Omegapoint and Joakim Thorén, Versasec CEO

Since the ouster of Target's chairman, president and CEO in May 2014, board of directors are realizing that their own job security is closely linked to the overall security health of their companies. Corporate security is no longer a CIO-only problem and can negatively impact a company's stock price, customer retention rate and overall sales. A recent Gartner survey of nearly 1,000 people in large organizations found that corporate and cybersecurity have been elevated and now typically are governed by the board of directors.  In fact, Gartner's results showed 71 percent of respondents saying IT risk management data influences decisions at the board level and reflects an increasing need to deal with IT as part of corporate governance. It's clear that board of directors must educate themselves if they want to protect their companies and their own jobs.

Continue Reading...