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Govt and manufacturers top list of cyber-espionage victims in APAC

FutureCIO Editors by FutureCIO Editors
December 10, 2020
Image from Pixabay

Image from Pixabay

The latest Verizon Cyber-Espionage Report (CER) released by the Verizon Threat Research Advisory Center (VTRAC) reveals that more cyber-espionage breaches occur in Asia-Pacific (42%) compared to Europe, Middle East and Africa (34%) and North America (23%).

The most targeted industries for attacks include the public sector (31%), followed by manufacturing (22%) and professional services (11%). The top actors in cyber-espionage breaches are state-affiliated (85%), nation-state actors (8%) and organized crime (4%).

The CER found that data that is confidential, sensitive or business-critical is often most targeted in cyber-espionage breaches, as attackers seek out data that could impact national security, political positioning and economic competitive advantage.

Recommendations:

  • Regular security awareness training - Employees are the first line of defence. Social engineering, or phishing, is a common method cyberspies use to gain access into sensitive systems. It is crucial that employees undertake regular security awareness training.
  • Strengthen boundary defences - Effective boundary defences (e.g. network segmentation) and stronger access management capabilities (e.g. access granted on a need-to-know basis) can mitigate cyber-espionage attacks.
  • Managed detection and response (MDR) - A robust MDR offering can identify indicators of compromise on the network and the endpoints. Essential components of MDR include security information and event management (SIEM) technologies; threat intelligence; user and entity behaviour analytics (UEBA); and threat hunting capabilities, as well as integrations with endpoint detection and response (EDR), network detection and response (NDR), and deception technologies.
  • Data leakage/loss prevention (DLP) - Can flag sensitive data being snuck out the back door.
  • Optimizing cyber threat intelligence - Recognizing indicators of compromise; leveraging tactics, techniques and procedures; and implementing a strong incident response plan are also important strategies for combating cyber-espionage.

John Grim, lead author of the Verizon Cyber-Espionage Report suggested that defences and detection and response plans should be tested regularly and optimized to confront cyber threats head-on.  

“This is particularly important for Cyber-Espionage breaches, which typically involve advanced threats targeting specific data and operating in ways to avoid detection and deny cyber defenders effective response,” he concluded.

Related:  Gartner outlines 10 GovTech trends for 2019-2020
Tags: cyber-espionagethreat actorsVerizon Cyber-Espionage ReportVerizon Threat Research Advisory Center
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