Seventy percent of companies in the U.S., U.K. and Singapore reported feeling the effect of the widespread SolarWinds hack, most of which felt a "slight impact," TechRepublic reports.
IronNet's 2021 Cybersecurity Impact Report showed that companies spent $12 million on average, or 11% of their annual revenues, in the aftermath of the SolarWinds attack, with the highest impact reported among those in the U.S.
The report also showed that 42% have adopted supply chain security changes following the attack and 81% reported having increased odds of sharing threat information with industry colleagues, while 67% and 50% began sharing more information with tech industry colleagues and government leaders, respectively. U.S. companies were less likely than those in Singapore to share information with governments, according to the report.
Respondents cited data privacy and liability concerns, absence of automated or standard peer information sharing mechanisms, and the possibility of outdated shared information upon receipt of other companies.
Jill Aitoro is senior vice president of content strategy for CyberRisk Alliance. She has more than 20 years of experience editing and reporting on technology, business and policy. Prior to joining CRA, she worked at Sightline Media as editor of Defense News and executive editor of the Business-to-Government Group. She previously worked at Washington Business Journal and Nextgov, covering federal technology, contracting and policy, as well as CMP Media’s VARBusiness and CRN and Penton Media’s iSeries News.
F-Secure study says financial companies are concerned about ransomware, supply chain attacks, cloud security adoption challenges, and risks from financial technologies such as SWIFT, Open Banking, and ATMs.