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Trustwave report unveils cybersecurity challenges in technology sector
Thu, 21st Mar 2024

Trustwave has unveiled a comprehensive report titled' 2024 Technology Threat Landscape: Trustwave Threat Intelligence Briefing and Mitigation Strategies', highlighting the unique cybersecurity challenges faced by the technology sector. The report offers actionable insights and strategies for cybersecurity leaders, emphasizing the need for robust security measures in a landscape teeming with valuable data and intellectual property.

With its considerable store of data and IP, the technology sector has emerged as a primary target for cyber threats. These attacks can have severe consequences, compromising sensitive information, compromising companies, and significantly impairing user trust. This damage extends beyond the breached company, affecting the security of numerous other businesses that depend on these technologies.

The report is the result of extensive research by Trustwave SpiderLabs, which examined the attack flow used by threat groups, providing insight into their tactics, techniques, and procedures. The technology sector is faced with a unique threat landscape fuelled by several factors, most notably an ever-expanding attack surface. This increase is driven by the soaring popularity of Software-as-a-Service (SaaS) providers, the growth of cloud infrastructure, and a surge in interconnected devices, often growing at a rate that outstrips that of security measures.

Kory Daniels, Chief Information and Security Officer (CISO) at Trustwave, points out that the constant innovation propelling technology forward can be counterproductive. "Our new research unveils the intricate network of dangers facing the tech industry. Even a minor security breach can cripple a company and cause cascading disruptions across the vital systems we rely on, including internal business operations, customer-trusted software and products, and the infrastructure supporting supply chains. To minimise risk exposure while staying ahead of threats, security needs to be embedded at every stage of the technology lifecycle."

The Trustwave SpiderLabs report presents an analysis of threat groups and their methods throughout the attack cycle, starting from initial foothold through to exfiltration. Specific focus is placed on technology infrastructure and software technology. Key findings from the report reveal that three ransomware groups (LockBit 3.0, Clop, ALPHV, aka BlackCat) account for over 60 per cent of the attack claims against technology organisations. There's a significant exposure of critical systems and devices with 12 million devices linked to the technology industry exposed publicly. Phishing continues to be a major threat, with almost 40 per cent of malicious PDFs masquerading as reputable brands like Geek Squad, PayPal, and McAfee. The report also highlights the increasing prevalence of AI-generated phishing or business email compromise (BEC) emails, with Trustwave SpiderLabs sharing insights on their detection.

The Trustwave report plays a crucial role in recognising current challenges and future threats to the technology industry's cybersecurity landscape. It serves as a wake-up call, not only to tech companies but to all businesses relying on technology, underlining the need for robust, comprehensive cybersecurity measures to protect sensitive data and assets.