Cyber attacks can impact computers on a massive scale and can persist for months or even years

According to a new Annual Cybersecurity Report by the technology firm Cisco, malware sophistication is increasing as adversaries begin to weaponize cloud services and evade detection through encryption, used as a tool to conceal command-and-control activity.

In fact, Cisco threat researchers observed more than a threefold increase in encrypted network communication used by inspected malware samples over a 12-month period.

It said, "More than half of all attacks resulted in financial damages of more than $500,000, including, but not limited to, lost revenue, customers, opportunities, and out-of-pocket costs."

The report said that these attacks can impact computers on a massive scale and can persist for months or even years.

Two such attacks in 2017, Nyetya and Ccleaner, infected users by attacking trusted software, the technology firm pointed out.

"Defenders are implementing a complex mix of products from a cross-section of vendors to protect against breaches. This complexity and growth in breaches have many downstream effects on an organization ability to defend against attacks, such as increased risk of losses," the report further said.

As per the survey, Cisco found that In 2017, 25 percent of security professionals said they used products from 11 to 20 vendors, compared with 18 percent of security professionals in 2016 and security professionals said 32 percent of breaches affected more than half of their systems, compared with 15 percent in 2016.

On Use of cloud and attackers taking advantage, the report noted that 27 percent of security professionals said they are using off-premises private clouds, compared with 20 percent in 2016. 57 percent said they host networks in the cloud because of better data security; 48 percent, because of scalability; and 46 percent, because of ease of use.

"While the cloud offers better data security, attackers are taking advantage of the fact that security teams are having difficulty defending evolving and expanding cloud environments. The combination of best practices, advanced security technologies like machine learning, and first-line-of-defense tools like cloud security platforms can help protect this environment."

"In today's zero perimeter world, where data is everywhere, defenders need to relook at cybersecurity from the strategic point of view. It is important that security adopts new tools like Artificial Intelligence, Machine learning and incorporate best strategies to mitigate risks," Vishak Raman, Director, Security Sales, Cisco India & SAARC said.