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Fortinet : Threat Landscape Report reveals attacks per firm increased by 82%

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03/20/2018 | 01:44pm CET

Fortinet, a global leader in broad, integrated and automated cybersecurity solutions, today announced the findings of its latest Global Threat Landscape Report. The research reveals that attacks per firm increased over the previous quarter. In addition, automated and sophisticated swarm attacks are accelerating making it increasingly difficult for organisations to protect users, applications, and devices. Highlights of the report follow:

Swarm cyberattacks increase in volume, variety, and velocity

The sophistication of attacks targeting organisations is accelerating at an unprecedented rate. Digital transformation isn't just reshaping business,cybercriminals are leveraging the expanding attack surface it creates for new disruptive opportunities to attack. They are implementing newer swarm-like capabilities while simultaneously targeting multiple vulnerabilities, devices, and access points. The combination of rapid threat development combined with the increased propagation of new variants is increasingly difficult for many organisations to combat.

Unprecedented volume: An average of 274 exploit detections per firm were detected, which is a significant increase of 82% over the previous quarter. The number of malware families also increased by 25% and unique variants grew by 19%. The data not only indicates growth in volume, but also anevolution of the malware as well. In addition, encrypted traffic using HTTPS and SSL grew as a percentage of total network traffic to a high of nearly 60% on average. While encryption can certainly help protect data in motion as it moves between core, cloud, and endpoint environments, it also represents a real challenge for traditional security solutions.

IoT ATTACK INTENSITY:Three of the top twenty attacks identified targeted IoT devices and exploit activity quadrupled against devices like Wi-Fi cameras. None of these detections were associated with a known or named CVE, which is one of the troubling aspects of vulnerable IoT devices. In addition, unlike previous attacks, which focused on exploiting a single vulnerability, new IoT botnets such as Reaper and Hajimecan target multiple vulnerabilities simultaneously. This multi-vector approach is much harder to combat. Reaper's flexible framework means that, rather than the static, pre-programmed attacks of previous IoT exploits, Reaper's code is easily updated to swarm faster by running new and more malicious attacks as they become available. Demonstrating its swarm abilities, exploit volume associated with Reaper exhibited a jump from 50,000 to 2.7 million over a few days before dropping back to normal.

In Asia Pacific, the top prevalent exploits detected exhibits a similar pattern. For example, exploits targeting the Apache Struts and IP camera/DVR vulnerabilities make up some of the top exploits detected in APAC for Q42017 as well.IP camera/DVR vulnerabilities in APAC are quite prevalent as these devices are popular, available at low cost, but do not have sufficient security designed into them.

Ransomware still prevalent:Several strains of ransomware topped the list of malware variants. Locky was the most widespread malware variant and GlobeImposter followed as the second. A new strain of Locky emerged, tricking recipients with spam before requesting a ransom. In addition, there was a shift on the darknet from only accepting Bitcoin for payment to other forms of digital currency such as Monero. In APAC, new malware variants and ransomware droppers account for the top prevalent malware seen in Q42017.

Cryptocurrency mining on the rise:Cryptomining malware increased globally and in APAC, which seems to be intertwined with the changing price of Bitcoin. Cybercriminals recognise the growth in digital currencies and are using a trick called cryptojacking to mine cryptocurrencies on computers using CPU resources in the background withouta user knowing. Cryptojacking involves loading a script into a web browser, nothing is installed or stored on the computer.

Sophisticated industrial malware:An uptick in exploit activity against industrial control systems (ICS) and safety instrumental systems (SIS) suggests these under-the-radar attacks might be climbing higher on attackers' radar. An example is an attack codenamed Triton. It is sophisticated in nature and has the ability to cover its tracks by overwriting the malware itself with garbage data to thwart forensic analysis. Because these platforms affect vital critical infrastructures, they are enticing for threat actors. Successful attacks can cause significant damage with far-reaching impact.

Attack variety: Steganography is an attack that embeds malicious code in images. It's an attack vector that has not had much visibility over the past several years, but it appears to be on the resurgence. The Sundown exploit kit uses steganography to steal information, and while it has been around for some time, it was reported by more organisations than any other exploit kit. It was found dropping multiple ransomware variants.

Fighting swarm attacks requires integrated security

The threat data in this quarter's report reinforces many of the predictions unveiled by the Fortinet FortiGuard Labs global research team for 2018, which predicted the rise of self-learning hivenets and swarmbots on the horizon. Over the next couple of years, the attack surface will continue to expand while visibility and control over today's infrastructures diminish.

To address the problems of speed and scale by adversaries, organisations need to adopt strategies based on automation and integration. Security should operate at digital speeds by automating responses as well as applying intelligence and self-learning so that networks can make effective and autonomous decisions.

© Pakistan Press International, source Asianet-Pakistan

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Financials ($)
Sales 2018 1 706 M
EBIT 2018 324 M
Net income 2018 125 M
Finance 2018 1 745 M
Yield 2018 -
P/E ratio 2018 68,28
P/E ratio 2019 57,69
EV / Sales 2018 4,29x
EV / Sales 2019 3,51x
Capitalization 9 073 M
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 51,0 $
Spread / Average Target -5,6%
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Ken Xie Chairman & Chief Executive Officer
Michael Xie President, Director & Chief Technology Officer
Keith F. Jensen Controller, Chief Financial & Accounting Officer
Christopher B. Paisley Lead Independent Director
William H. Neukom Independent Director
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