The Cyber Review: Need For More Cyber Training | Cyber Threats on Vehicles and Contractors

April 17, 2021
Written by Farah

Canadian cybersecurity company files preliminary prospectus for $90-million IPO

Magnet Forensics is a Canadian cybersecurity firm that develops digital investigation software is looking to raise $90 million by offering an initial public offering (IPO) on the Toronto Stock Exchange. The digital forensics investigation software is used by digital forensics specialists and has been used by over 4000 organizations and agencies in over 90 countries.

61 percent of employees fail basic cybersecurity quiz

A research study conducted by TalentMLS looked at cybersecurity habits of about 1200 workers. Here are some of the findings:

  • About 70% of the employees said they recently received from their employers, yet 61% failed when asked to take a basic quiz on the topic
  • Only 17% of those surveyed who work in information services passed the quiz, compared to the 57% of health care employees. However, 93% of respondents working in information services reported receiving cybersecurity training, compared to 67% of healthcare respondents.
  • 60% of employees who failed the cybersecurity quiz reported that they feel safe from threats.
  • 74% of respondents who answered every single question incorrectly report feeling safe.
  • Younger employees aged 18-24 performed the worst on the quiz, with only 16% passing.
  • 25-34 year olds tied with those aged 54 and over for the best collective performance, with a pass rate of 43%

Despite the familiarity with technology of the younger age group, they still performed worse than the slightly and much older age groups. Overall, the understanding from this survey is that organizations still need to put more effort into training employees, creating cybersecurity awareness and helping people better recognize threats.

Cybersecurity threats for constructors

As we adopt to new technologies, the risk continues to increase. At the Ontario General Contractors Association’s Educate Me! virtual symposium’s panel, the Digital Transformation of the Construction Industry and how Cyber Risk will Change your Business, speakers touched on ransomware, remote work, and better education and training for staff.

This idea that cyber criminals go after big companies only is false. Yes, they are going after the bigger companies but they also attack smaller companies who don't have the resources, knowledge or infrastructure. Cybersecurity is not only the responsibility of the IT department, rather every employee's.

Protecting your company from cyber criminals isn't just to protect your reputation, but your customers' too. Companies are seeing a shift where customers ask about the company's security framework and protections so they know whether their data will be safe or not.

“You need a breach coach or a data privacy lawyer, you need a forensic partner and you need a ransom first responder and maybe a crisis communication firm should you want to issue a press release or talk to your clients,” said Ruby Rai, cybersecurity leader at Marsh Canada. “I always advise our clients to have their numbers at home because when systems go down and you’re not able to access your emails, you can’t access your incident response plan either.”

Consumers worry about the cybersecurity of connected vehicles

According to a recent survey by HSB, motorists are worrying about the cybersecurity of their connected vehicles. The survey found that 37 percent of consumers who responded were somewhat or very concerned about the cyber security and safety of connected and automated vehicles.

35 percent also feared that a virus, hacking incident or other cyber attack could damage or destroy their vehicle’s data, software or operating systems.

“Our cars are more connected than ever,” said Timothy Zeilman, vice president for HSB, a provider of cyber insurance and services. “It’s hard for consumers to keep up with rapidly evolving vehicle technology and they wonder if their privacy and personal information is protected.”

As technology advances, people are not only worried about their cars or connected devices being hacked, but also controlled remotely.

People reported that the most worrisome thing about a cyber attack on their vehicle would be a hacker talking to them over the audio system and demanding a ransom payment.