More than half of businesses are not prepared for Cyber Attacks

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A recent study made by FireEye has stated that more than half of businesses operating across the globe are not prepared to combat cyber attacks. Also, 50% of the CEOs believe that their company is not in a position to handle or respond to a hacking incident or data breach.

Yes, these shocking facts were revealed when Cybersecurity firm FireEye released a Cyber Trendscape Report 2020 that included responses from more than 800 CISOs and Senior Level Executives across North America, Europe, and Asia.

FireEye security report states that nearly 29% of organizations haven’t tested their cyber defenses for a year and out of them more than half weren’t confident about whether their plans will work as per the expectations.

However, the good news is that more than 70% of organizations are planning to increase their Cybersecurity budget in 2020 which is a good sign that companies and their CEOs have started to see Cybersecurity as a necessity and not as a mere asset.

FireEye which offers products and services that protect enterprises from the impacts and consequences of cyber attacks added in its security report of 2020 that Iranian hacking group dubbed APT39 has targeted many people in the Middle East, especially from the Gulf region.

The researchers say that APT39 has been on its radar since 2014 and is being indulged in phishing email campaigns to target specific people with POWBAT Infection.

What’s even more concerning about the find is that the said group is also known to devise ransomware which not only encrypts data but also destructs it if the victim fails to pay a ransom in time….strange….but true!

Currently, the said Iranian hacking group has been reportedly focusing mainly on the telecommunication sector, travel sector, and IT industry.