This week’s I.T. and tech roundup examines another costly cyberattack, looks at why I.T. budgets may be falling despite increased threats and discusses the internet’s stance on secrets. Take a look at some of this week’s stories.
A costly cyberattack for aluminium company
Aluminium company, Hydro, was hit by a malware attack last week which has cost the business at least £25.6m. The global company has 35,000 employees in 40 different countries and the businesses said that most of the losses had been in its Extruded Solutions division, which makes aluminium facades.
Production within its Extruded Solutions division was down 20-30% and a particular business unit which makes doors and windows was "at a standstill". Machines which were usually automatically controlled by computers were now being manned by workers at some of Hydro’s factories in the short-term, as the business deals with aftermath of the attack.
The positive coming from this negative news? Hydro has been widely praised for how transparent it has been as a business throughout a troublesome few weeks. One commenter explained that Hydro had shown "the best incident representation response plan I’ve ever seen".
Read more about this via BBC News.
I.T. budgets are falling despite threat increase
A recent report has found that despite the ever increasing threats to the I.T. of businesses, budgets for some are falling or staying flat.
The new research investigated how businesses felt about their cybersecurity capabilities with many believing that they do not have the time to tackle issues should they arise. This was cited as a challenge, combined with a lack of in-house knowledge and lack of understanding and support from the c-suite when it comes to purchasing innovative solutions.
“The findings from our study highlight that there is a wide gap between security teams and budget holders which is putting organisations at risk,” says Bob Egner, VP of Outpost24. “With the average cost of data breaches exceeding $3.8 million, cybersecurity is very much a c-level and board member issue,” he continues.
“Board members and c-level executives should have a comprehensive understanding of their organisations’ security posture and the attacks targeting them, they should then take this data and allocate budgets accordingly, before their business is disrupted or reputation is damaged.”
Read more via ITProPortal.
WIRED writer tries to keep personal information from Facebook & Google
Finally, a terrific and slightly scary article from one of Wired.co.uk’s writers has been doing the rounds in recent weeks after it was first posted in February.
James Temperton ran his own experiment, trying to keep the news of his unborn child from the data hungry Facebook and Google. He made the conscious decision that he didn’t want to be tracked online and sold baby products by the tech giants who seem to know it all. He therefore went through a series of measures to attempt to hide this information from Facebook and Google. The result? The internet doesn’t like secrets.
The article is a fascinating read for techies – take a look here.
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