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Cisco wants organisations to tighten noose on ransomware sophistication

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As cybercrimes become more rampant and sophisticated, Cisco, the global leader in IT and networking, has called on businesses, especially in Middle East and Africa (MEA) to adopt security measures and to take a comprehensive approach across people, process, technology and policy to protect their businesses from hackers and cyber criminals.

This follows the findings reported in the recently released Cisco 2018 Annual Cybersecurity Report, which identified the evolution of ransomware as one of the most significant threat developments over the past year.

The report also highlighted that malware had become more vicious and harder to combat and that attackers are developing more skill in creating malware that can evade traditional sandboxing.

It also revealed that adversaries are increasingly embracing encryption – meant to enhance security – to conceal command-and-control activity and that nearly half of the security risk that organizations face stems from having multiple security vendors and products.

Speaking at an event to unveil the report, in Lagos, General Manager of Cisco Nigeria, Olakunle Oloruntimilehin, explained the need for businesses and enterprises to adopt advanced methods of cybersecurity.

He said, “Security is getting more complex and the scope of breaches is expanding. Several companies are hit by cyber breaches and attacks every year causing losses in millions of naira and stealing highly classified information.

It is therefore imperative that any organization that desires to stay safe and minimize risk or loss address cybersecurity at the top, with executive leadership setting the tone and engender a ‘security-first-always-and-everywhere’ culture that flows throughout the organization.”

The Cisco 2018 Security Capabilities Benchmark Study revealed that 94 per cent of companies in the Middle East and Africa suffered a breach in the past year and that 34 per cent of breaches in resulted in more than half of systems being impacted.

The study also indicated that nearly a quarter of organisations in the region manage more than 21 vendors and cite lack of security personnel as one of the biggest obstacles to security.


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