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NPower, a US-based non-profit participating in a cybersecurity workforce development program started by the Cybersecurity and Infrastructure Agency (CISA), is looking for recruits for a free cybersecurity training program aimed at underserved populations in the US, including women, people of color, young adults, and military veterans and their spouses. The program is part of CISA’s wider effort to address the cyber workforce shortage in the short and long term.
We’ve asked Nelson Abbott, Senior Director of Advanced Program Operations at NPower, and Chris Starling, a US Marine Corps veteran and Assistant VP at NPower California, to tell us more about it.

[The answers have been edited for clarity.]
Nelson Abbott: Our cybersecurity program is 18-weeks of intensive technical training, complemented with professional development and mentoring activities with industry professionals. Trainees have the opportunity to earn certifications recognized by the industry, and upon completion, receive career pathway support to help them launch their cyber careers.
The program is offered nationally to candidates that reside in or near the regions we currently operate in: New York/New Jersey, Maryland, Michigan, Missouri, Texas and California.
Chris Starling: Cybersecurity is a natural fit for veterans. The same mindset that you need to conduct offensive and defensive operations on land, sea and in the air are applicable to the digital domain.
Another important detail is that our cyber program builds on our Tech Fundamentals program. If you are new to tech, chances are you cannot just jump into CompTIA Security+ and master that material without some understanding of the basics. Many of our Cybersecurity Program applicants are graduates of Tech Fundamentals with some going directly from that course to the cyber course and others spending a year or two in the workforce to gain a deeper understanding of networks, servers, and troubleshooting.
NA: At a basic level, candidates need to be a minimum of 18 years old, have a HS diploma (or equivalent) and be legal to work in the US. For veterans, they must also be either active duty or have an honorable or general discharge.
Beyond that, we look for previous technology training or IT experience, persistence and determination, and a true passion to pursue cybersecurity. Our employer partners also highly value communication and collaboration skills, critical thinking and problem solving, and a hunger for continued learning.
CS: This course is all about determination and commitment. I tell prospective candidates that if they can master video games, GPS on an iPhone and all manner of social media, then they probably have the aptitude to master tech fundamentals and cyber. Show up to class curious and do your homework. Bring your diverse background, experience, and a mindset of selfless teamwork.
NA: Our program is fully remote, no physical attendance is required. All of NPower’s programs are completely FREE – no tuition costs, no salary garnishments, no loan repayments. All class materials are provided, and for trainees who do not have a suitable computer at home, we can make arrangements for a loaner during the course of the program. The only “cost” of the program are the trainees’ time and effort.
CS: The program is led by remote instructors. We found that our training works just as effectively this way as it did when we were physically in class; we have canvassed our employers who report the same quality and capabilities in our graduates. This simplifies and streamlines the learning and allows more time for study and eliminates the need to commute.
Virtual study sessions with fellow students also occur frequently. Cohorts of students bond and work together to master the material.
We often get asked, how can this be free? Well, it is thanks to organizations like CISA and the generosity of people who care such as Craig Newmark, founder of Craigslist and Newmark Philanthropies.
NA: Trainees gain an understanding of the basic theories of cybersecurity, as well as hands-on experience with many of the tools that are used by cyber professionals (Linux, NMap, Wireshark, Metasploit, Webgoat, FoxyProxy, etc).
Trainees also will have the opportunity to network with industry professionals through mentoring and guest speaking engagements. The expectation is that they are available to attend the program in its entirety, and to commit 30-35 hours per week for 18 weeks.
NA: Our cybersecurity program has been in operation since 2015. Eighty percent of NPower graduates get a full-time job or continue their education. Not only is NPower changing life trajectories for individuals from vulnerable communities, but they are also strengthening the overall competitiveness of U.S. businesses hamstrung by today’s limited pool of IT talent.
CS: Graduates will earn the CompTIA Security+ certification, and also have the opportunity to earn the CompTIA Linux+ certification – both of which create a wide range of opportunities.
For veterans, when paired with a Secret or Top Secret security clearance, this certification makes them incredibly marketable for federal government and contractor positions.
In addition to the Security + certification, graduates leave with excellent training in the soft skills needed to work in the tech arena. Resumes, linked in profiles, mock interviews, and a series of outstanding tech speakers and former NPower trainees round out a program that emphasizes the whole person concept.
NA: Our application is online. Once submitted, it will be reviewed, and qualified candidates will be invited for an interview.
The interview will consist of a professional/academic assessment, as well as a social support assessment. The technical assessment focuses on the fundamentals of computer networking. Keeping in mind that not all jobs are technical facing, we really try to find those candidates that express a true interest in cybersecurity, and display the grit and determination needed to not only successfully complete the training, but continue to advance their career well after graduation.
CS: We do not use a formal test specifically for cybersecurity aptitude, rather, where have you shown a combination of tech skill and “stick-to-itiveness”. If you did well in NPower’s Tech Fundamentals course, then that is a major indicator of success in the cyber course. If you come from a previous job doing web development or working satellite communications in the military, you will probably catch on quickly.
Equally important is the social support interview. NPower truly has wrap-around services through which we will work with every participant to mitigate challenges and barriers to learning.

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Cyderes CEO and ‘Shark Tank’ star Robert Herjavec says his company’s threat researchers identified a brand new kind of ransomware extortion.
Italy’s National Cybersecurity Agency, ACN, warned organizations to act in protecting their computer systems as thousands of computer servers around the globe were under attack by ransomware targeting VMware (WMW.N) ESXi servers, according to reports
Roberto Baldoni, the ACN director general, told Reuters the attack was looking to find and expose a vulnerability in the software, adding that the attack was taking place on a large scale.
Unrecognizable young hacker in hoodie using laptop in blurry city. Concept of cybersecurity. Toned image. Double exposure of security interface (iStock / iStock)
A VMware representative told the news agency they were aware of the incidents and released patches to protect systems against exposing a two-year-old vulnerability that was being exploited back in February 2021.
LASTPASS HACK: CYBERSECURITY EXPERTS SOUND THE ALARM OVER DATA BREACHES
All customers who did not apply the patch were urged by VMware to do so.
"Security hygiene is a key component of preventing ransom attacks, and customers who are running versions of ESXi impacted by CVE-2021-21974, and have not yet applied the two-year-old patch, should take action as directed in the advisory," a representative from VMware said on Sunday.
The attacks targeted VMware servers in places like France, Finland, Canada and the U.S., according to ACN.
A person dressed as an internet hacker is seen with binary code displayed on a laptop screen in this illustration photo taken in Krakow, Poland in August.  (Jakub Porzycki/NurPhoto via Getty Images / Getty Images)
Any organizations that were targeted could become locked out of their systems because of the ransomware. 
CHATGPT BEING USED TO WRITE MALWARE, RANSOMWARE: REPORTS
According to Reuters, dozens of organizations in Italy were likely to be attacked, and many more were warned to apply the patches.
Cybersecurity officials in the U.S. were assessing the situation.
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"CISA is working without public and private sector partners to assess the impacts of these reported incidents and providing assistance where needed," the U.S. Cybersecurity and Infrastructure Security Agency told Reuters.
Reuters contributed to the reporting of this story.
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Cybersecurity professionals will likely weather an economic downturn better than most other workers, as corporate executives worry that a recession could bring an increase in cyberattacks and acknowledge the difficulty in hiring knowledgeable workers, according to a new study by (ISC)², a cybersecurity certification group.
The survey of 1,000 nontechnical C-level business leaders found that companies are more likely to cut employees in human resources, finance, and operations, and least likely to cut in cybersecurity, IT, and operations.
The reasons are pretty clear: 87% of executives thought a reduction in their cybersecurity team would increase their business risk, and 80% believed that economic troubles will lead to more cyber threats.
The results suggest that even non-technical executives have increased the priority of cybersecurity, says Clar Rosso, CEO of (ISC)².
“In the workforce study every year, we’re talking to cybersecurity professionals, so we know what they think,” she says. “Now we see that organizational leaders are saying that [cybersecurity professionals] are on the bottom of our list to cut, and they’re on the top of our list if we need to hire back.”
Economists still widely expect a recession in 2023, despite strong job data and the Federal Reserve’s continued efforts to increase interest rates and reduce money supply. In December, a Bloomberg poll showed economists predicted a 70% chance of a recession, and in January, a Wall Street Journal poll of economists suggested a 61% chance of a recession.
Yet, with annual inflation remaining above 4% for the past 22 months, companies have already started taking steps to prepare for an economic downturn, including staff reductions. In the cybersecurity industry, for example, more than 55 vendors have already laid off workers, according to Layoffs.fyi.
The (ISC)2 survey suggests that most layoffs are not cybersecurity or IT jobs, but administration and support. In cybersecurity, only 31% of companies expect to reduce their cybersecurity workforce if the economy declines, while 51% will prioritize reinvestment in cybersecurity if the economy improves, according to the survey.
The spread between the two sentiments is the highest for cybersecurity among all business units, with IT teams coming in second place, facing a 35% expectation of a reduction in bad times and 49% expectation of reinvestment in good times. Human resources and sales are the most at risk, with 44% and 41% of executives indicating they will lay off HR and sales staff in bad times, respectively, while 29% and 30% will prioritize the reinvestment in those departments if the economy improves.
Highlighting the pent-up demand in cybersecurity, three-quarters of executives (74%) would consider hiring cybersecurity workers laid off from other companies, the (ISC)² survey found.
“With reports of job cuts at organizations including Twitter, Meta, Microsoft, Amazon and Google, cybersecurity staff could benefit from proactive hiring targeted towards those recent layoffs,” the report stated. “With so many tech jobs impacted by recent layoffs, it is possible that many of those individuals may find opportunity in pursuing a career in cybersecurity, where they can apply related skills and expertise.”
The resilience in demand for cybersecurity professionals comes as many workers burned out and resigned, part of the Great Resignation in 2022.
Organizations that lost valuable specialists did so for three main reasons, Rosso says. Cybersecurity teams have traditionally not had great career advancement opportunities, so their ability to gain promotions and increased salaries at their current company are often limited. In addition, the culture surrounding many security teams has often led to burnout and mental stress, she says.
“We know, for example, that at the end of 2021 and beginning of 2022, the Log4j issue was causing people to clock a lot of hours, and that led to some burnout,” she says. “Not that cybersecurity professionals aren’t always working long hours and hard, but it’s just kind of a spike above and beyond.”
Finally, the push to bring workers back to the office has often led people with in-demand specialties to look elsewhere.
The resilience of cybersecurity jobs is buoyed by the constant reminders of business risks that come in the form of ransomware attacks, data breaches, and stolen intellectual property. The vast majority of executives (81%) believe that threats will increase in 2023.
The survey did not poll technical executives, such as chief technology officers (CTOs) or chief information security officers (CISOs), but gathered opinions from the nontechnical executives, such as CEOs and chief financial officers (CFOs).
“It is likely this maturing view of cybersecurity has been shaped by a continuing series of high-profile and damaging breaches,” the report stated. “Security incidents have left no doubt as to the lengths threat actors will go to steal data or disrupt operations, in some cases even putting lives at risk.”
In the last (ISC)² workforce survey, the gap between available cybersecurity workers and demand shrank to 2.7 million, from 3.1 million the prior year. Many companies had closed out positions as the economy became unpredictable, leading to decelerating demand, Rosso says.
“When we were heading into 2021, our predictions were that we would see the workforce gap go up incredibly, and it actually contracted,” she says. “The reason it contracted was because there was economic uncertainty, and what organizations did was they froze, or they eliminated, their open positions.”
With economic growth, however, the need for cybersecurity workers will continue, she says.
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OAKLAND, Calif., Feb 14 (Reuters) – Sandbox AQ, a startup spun off from Alphabet Inc (GOOGL.O) last year, said on Tuesday it raised $500 million as it helps customers prepare for a quantum computing future.
Quantum computers, whose processors run based on quantum physics, could one day carry out certain calculations millions of times quicker than today's fastest super computers, yet they remain years away from making a big change, such as breaking encryption.
But as hackers can harvest data today and wait to decrypt them when the quantum computers are ready, the National Institute of Standards and Technology under the U.S. Commerce Department selected new cryptography standards last year that could better withstand quantum computers.
The U.S. government has set quantum computing as one of the key technologies important for national security.
Sandbox AQ's software scans companies' systems to identify which parts use the old cryptography, identifies which need to be replaced urgently, and sets out to fortify the encryption of the enterprise, said CEO Jack Hidary.
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"Right now you have a lot of banks and pharma companies and governments still using these old protocols," said Hidary. "The average bank takes five to seven years to migrate over. … Now, hopefully they'll do their important customer private information first."
Sandbox also has a business selling powerful simulation software to accelerate development of drugs and materials.
The simulation does not currently need quantum computers to work, said Hidary. He said in the last 18 months chips that do artificial intelligence work have become powerful enough to run some of the math for quantum physics. When quantum computers are ready, that work would speed up even further.
Sandbox AQ is also using existing types of sensors based on quantum physics. These have long been MRI machines, for instance, and Sandbox has created a prototype machine to monitor the heart. It can also be used to monitor slight local changes in the earth's magnetic field, making navigation systems much more precise, he said.
Last month Sandbox AQ said it won a contract with the U.S. Air Force to research these quantum navigation technologies
Former Google Chief Executive Eric Schmidt is the startup's chairman as well as investor. Other investors include Breyer Capital, T. Rowe Price funds and Salesforce.com Inc (CRM.N) founder Marc Benioff's TIME Ventures.
Schmidt in a statement said Sandbox AQ has already signed up more than 15 enterprise and government customers and is partnering with 30 universities to train PhDs and other talent needed.
Some of the team and inspiration for Sandbox originated at Alphabet in 2016. But the Google parent is not a shareholder as Hidary said he wanted the company to be independent to work with the other major cloud companies as well.
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A hole in the GoAnywhere file transfer utility is exploited, ransomware attacks in the U.S. and Israel, and more.
Welcome to Cyber Security Today. It’s Monday, February 13th, 2023. I’m Howard Solomon, contributing reporter on cybersecurity for ITWorldCanada.com and TechNewsday.com in the U.S.
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The Clop ransomware gang is back. According to Bleeping Computer, the gang says it recently stole data from over 130 organizations that use the GoAnywhere MFT file transfer utility. At risk are IT environments that exposed the tool’s administrative console to the internet, allowing a vulnerability to be exploited. The news report says Clop claims they didn’t encrypt data, only stole files. The claims couldn’t be verified. Forta, the company that develops GoAnywhere MFT, issued an emergency security update last Tuesday for on-premise versions of the utility, and one on Thursday for those using the cloud version.
That vulnerability has been added to the Known Exploited Vulnerabilities Catalog kept by the U.S. Cybersecurity and Infrastructure Security Agency. Also just added to the catalog is a hole in Intet’s Ethernet Diagnostics Driver for Windows, and a vulnerability in TerraMaster’s OS operating system for its data storage solutions. Patches for these holes are available.
The city of Oakland, California is recovering from a ransomware attack last week. While its website is now up the city took affected systems offline. Core functions including 911 service, fire and emergency resources and municipal financial data were not affected. However, non-emergency systems including voicemail may be impacted.
The Israel Institute of Technology — more commonly known as the Technion — was the victim of a ransomware attack over the weekend. According to the Jerusalem Post a hacker or hackers are demanding 80 bitcoin, worth about $2 million, to unscramble stolen data. The news site DataBreaches.net says the ransom note claims all of the Technion’s data is encrypted. That hasn’t been verified. No one knows anything about the group claiming responsibility, which calls itself DarkBit. The ransom note says someone should pay for occupation and crimes against humanity. But it also talks about the firing of high-skilled experts. The Jerusalem Post quotes the Israel National Cyber Directorate saying last year there were 53 cyber attacks last year on higher education institutions in the country.
In California, more than three million patients of four medical groups that suffered ransomware attacks late last year are receiving data breach notification letters. According to The Register, the four are Regal Medical Group, Lakeside Medical Organization, ADOC Medical Group and Greater Covinia Medical. All are associated with the Heritage Provider Network. Some of the stolen data might have included patients’ names, dates of birth, Social Security numbers and medical records.
A now-closed Virginia university is notifying more than 78,000 students and employees of a data breach last August. At the time the REvil ransomware gang was one of three groups claiming responsibility for attacking Stratford University. According to a copy of the letter being sent to those affected, an attacker obtained some school data, including information from the student database.
A North Carolina software company that provides solutions to the healthcare sector is notifying more than 11,000 patients of a data breach. Intelligent Business Solutions says in November it detected its network had been infected with malware that prevented access to data on certain IT systems. Data copied included patient names, Social Security numbers, dates of birth and medical information.
Canadian bookstore chain Indigo is still dealing with last week’s cyber attack. On Sunday, when this podcast was recorded, the company’s website was still offline. Stores were open. At first, purchasers were only able to pay for items in cash. Now they can use credit and debit cards. However, customers still can’t use gift cards or return purchases. Shoppers are urged not to log into any site that claims to be Indigo Books.
Finally, don’t forget not only is tomorrow Valentine’s Day, it’s also Patch Tuesday, when Microsoft and many major companies release security updates. However, those with SonicWall devices using Capture Client might want to hold off installing Windows 11 updates. That’s because on February 17th SonicWall will release a fix to solve a clash between Capture Client and Win11. A commentator at the SANS Institute says administrators should think about first installing the SonicWall patch before updating Windows.
Follow Cyber Security Today on Apple Podcasts, Google Podcasts or add us to your Flash Briefing on your smart speaker. Thanks for listening. I’m Howard Solomon
 
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The Banker, in partnership with Akamai, brings together a panel of experts to discuss how cyberthreats and cybersecurity are evolving in 2023.
The past year has seen a massive increase in cyberthreats, with financial institutions facing a barrage of attacks via multiple vectors. The Banker gathered together a group of European cybersecurity experts to discuss the state-of-play and how their cybersecurity strategies will evolve in 2023.
Q: What were the major developments in cyberthreats over the past year?
Paul Branley: The cybersecurity community started 2022 at a fast pace dealing with the Log4j [a popular Java logging framework] vulnerability, then quickly shifted gears as threat levels rose following the war in Ukraine. Intelligence-led action was taken to improve resilience within individual organisations and collectively across sectors, in parallel, to move to a state of heightened readiness. All this was in addition to a backdrop throughout the year of increasing numbers of data breaches, zero-days, ransomware and supply-chain attacks.
Sergio Fidalgo: The most significant developments in cyberthreats during the past year have been the use of legitimate infra-structure in malware campaigns and the emergence of ransomware-as-a-service. Other notable developments include the systematic discovery and exploitation of major zero-day vulnerabilities, such as the Follina [a remote code execution vulnerability] and Log4Shell [a zero-day vulnerability in Log4j] cases. Smishing [attacks via mobile text messaging] and phishing campaigns, which are used to acquire log-in credentials and other sensitive information, have been on the rise during this period as well. Additionally, the growth of malicious artificial intelligence (AI)-driven malware and spam is a trend among the weapons used by the threat actors.
Matt Payne: The past year was very eventful in cybersecurity. The conflict in Ukraine was preceded by a massive rise in cybercrime activity, particularly in Europe, which continues to reverberate today.
For the financial services sector in particular, 2022 was a bumper year for cyber-criminals. According to Akamai data, web application and application programming interface attacks against financial services firms grew by 257% year-on-year. This growth is just staggering, and underlines how organisations must remain vigilant in 2023 and beyond. In the face of such unprecedented emerging threats, complacency is not an option.
80% OF CYBERATTACKERS AIM THEIR EFFORTS AT CUSTOMERS OF FINANCIAL FIRMS (NOT THE COMPANIES THEMSELVES), AS THE PATH OF LEAST RESISTANCE FOR MONETARY GAIN
Chris Ulliott: Despite predictions of ‘cybergeddon’ linked to the Russian invasion of Ukraine, the past 12 months have primarily seen an evolution of previous years. Phishing, cloud misconfiguration, weak passwords and lack of patching have been main themes. That said, there has been a steady increase of high-profile breaches hitting software-as-a-service companies. Over the festive season alone, four high-profile breaches were disclosed. And, as organisations outsource critical services, it will become an increasingly targeted area as the impact of a single breach is that much greater.
Q: What’s on the horizon in the world of phishing and cyberfraud in 2023?
Mr Ulliott: In an area such as this, where the environment is rapidly changing, it’s a brave soul who tries to predict the future. But there are a number of key themes that are likely to dominate 2023. While mass phishing will continue and undoubtedly increase in sophistication (in part to the use of machine learning enabling more people to create convincing phishing emails), there is already a trend to more business email compromise attacks, where email systems are compromised and then used to send emails to targets, either to facilitate fraud or to add additional credibility to a targeted phishing attack.
Mr Fidalgo: The number of phishing attacks and cyberfraud attacks will continue to grow this year. The sophistication of the techniques used by the attackers will continue to increase, with the aim to make the attacks more difficult to detect by potential victims.
The main challenge for companies will be to minimise the impact of these attacks through the continuous training and aware-ness of employees and clients to help them identify these social engineering attacks, the continuous evolution of the monitoring and detection techniques and controls implemented and the automation of the response to these attacks. The use of AI and machine learning techniques to reinforce the efficiency and automation of cybersecurity strategies will be essential to fight cybercrime.
Mr Branley: While phishing continues to be the most common precursor to cyber attacks, including cyber-enabled fraud, defensive measures are also improving. A multi-layered approach, including two-factor authentication, secure web browsers, modern anti-malware mechanisms, and a strong education and awareness programme for staff can help to protect organisations
Despite these improvements, we know that fraudsters will continue to find new ways to carry out their attacks, and we expect to see social-engineering techniques to evolve beyond simple email phishing, to deep fakes, AI and machine learning, for example. Mr Payne: A recent research report published by Akamai (State of the Internet: Enemy at the Gates), estimates approximately 80% of cyberattackers aim their efforts at customers of financial firms (not the companies themselves), as the path of least resistance for monetary gain.
Because phishing and cyberfraud targets are often consumers, criminals’ tactics tend to evolve in response to current events, such as the Covid-19 pandemic, with a huge wave of associated cyber crime. In 2023, this could be the cost-of-living crisis, the conflict in Ukraine or some other unforeseen event entirely. It’s inherently challenging to predict, which is why banks need ongoing monitoring in place, together with state-of-the-art solutions.
Q: What can be done to mitigate the damage of a potential ransomeware attack?
Mr Payne: To protect against ransomware attacks, we must limit access between machines to make it harder for the attacker to traverse the network. This can be targeted specifically against the protocols and services that ransomware campaigns often exploit. Early detection is key to effective protection against ransomware attacks. To catch ransomware attacks early, strong visibility across the whole network is essential as it expedites spotting bad actors and any related unauthorised movement across the network, allowing prompt action.
Deception tools such as lures, honeypots [a decoy to lure cyberattackers] or distributed detection platforms can also be effective in attracting ransomware attackers towards them, making it easier to identify attempted active breaches in progress.
Mr Ulliott: Prevention is always better than a cure – for example ensuring good cyber hygiene, such as the use of multi-factor authentication, and robust patching. However, the use of robust separation between systems, deployment of zero-trust principles, data encryption and regularly created, tested, offline backups can limit the impact of a breach while facilitating a more rapid recovery. It is especially important to regularly exercise these capabilities, in the same way as companies practice fire drills. It’s important to exercise incident processes so that everyone (including the board) knows what their role is and what is (and often isn’t) expected of them.
Mr Fidalgo: To mitigate the damage of a potential ransomware attack companies have to continuously reinforce the security controls implemented to monitor their net-work and system infrastructure and to detect these types of attacks. The response will be more effective if the ransomware attack is detected straightaway.
An adequate system vulnerability management process and the implementation of preventive controls are also essential to minimise the risk of a ransomware attack.
Finally, incident response procedures and business continuity plans (including reliable back-up copies) are also essential to ensure an immediate response and to mitigate the damage of a potential ransomware attack. These plans have to be periodically tested to ensure they are effective in case they have to be activated.
Mr Branley: Ransomware is one of the biggest threats and has seen exponential growth in recent years. Often ransomware attacks can lead to high returns for pure-play cybercriminals and traditional organised crime groups, so it is essential to get the basics right: stay on top of patching, segment your environment to contain any breach, and have a robust and well-rehearsed back-up and recovery play book. No individual or company is immune, so while prevention is the aim, response and recovery are equally as important.
Q: How can network segmentation help defend against a cyberattack? Where does it make the most impact?
Mr Fidalgo: Network segmentation is an essential element of the cybersecurity strat-egy of any company. It is essential to ensure the adequate segmentation not only of development, test and production environments, but also of critical assets in production environments, like payment applications or Swift in the case of financial entities.
Network segmentation will not avoid a cyberattack but, if it has been well designed and maintained, it will help to minimise the impact of the attack, restricting the impact to specific network segments, avoiding lateral movements and preventing the expansion of the attack across the company’s network infrastructure.
Mr Ulliott: There is an old adage when discussing cyberattacks – it’s a matter of when, not if, you’ll be breached. To that end, it’s very important to implement strategies that minimise the impact of a successful attack. Segmenting systems, and placing security controls between them, helps minimise the ‘blast radius’ and damage that occurs when something inevitably goes wrong. This has the advantage that it is harder for an intruder to move around a network, increasing the chance that the defensive teams will spot them early in the intrusion.
THERE IS AN OLD ADAGE WHEN DISCUSSING CYBERATTACKS – IT’S A MATTER OF WHEN, NOT IF, YOU’LL BE BREACHED
Mr Branley: Over the past few years society and business has taken advantage of the opportunities presented by the digital domain and embarked on creating a more interconnected world. While this has had many advantages, it has also meant that any cyberbreach or malicious activity can result in a widespread impact.
Segmentation, including network segmentation, is the best way to turn the tide on this issue, as it helps to reduce the blast radius, prevent lateral movement, shrink the attack surface and minimise the business impact of a breach.
Mr Payne: Network segmentation is akin to the hull of a modern ship. If breached, dam-age should be limited, because the hull is compartmentalised and will stop water flow across the entire vessel.
This principle applies to networks. If your network is unsegmented and a ransomware attacker penetrates your outer defences, they can move laterally across the network wreak-ing havoc. However, if your network is segmented, the would-be attacker will encounter obstacles that can help contain or even pre-vent such attacks.
As cybercriminals work hard to circumnavigate these defences, we see micro-segmentation (advanced segmentation) as a vital tool to limit blast radius, contain would-be attacks and prevent network takeover.
Q: What regulatory challenges do financial firms face in cybersecurity and data protection?
Mr Branley: Data is the new oil. Cybersecurity and data regulation is crucial in the digital domain to drive best practices and raise the overall bar for protecting personal data and preventing cyberattacks. A lot of key legislation is evolving and being published in the EU, US and UK, which will help achieve this.
Mr Payne: Financial service regulators safeguard public interests with respect to the provision of critical national infrastructure, ensuring expectations in such areas as service availability, privacy and data protection are fully compliant.
Key financial organisations, therefore, require third-party solutions to adhere to regulations set today, with the understanding that these can be flexed and adjusted as required to meet the standards of tomorrow.
A partnership with any third-party vendor should therefore incorporate collaborative working methodologies (such as design partnerships, customer advisory boards, etc), in order to support the capacity to remain in lockstep with ongoing needs specific to the finance industry.
Mr Ulliott: Historically, and quite rightly, regulatory attention has been focussed on preventing attacks from being successful. But, recent times has seen a move to what is colloquially known as ‘cyber resilience’: the ability to continue to deliver a service and protect customer data during extreme events will be under increased scrutiny. This will likely include increased attention to the industries collective supply chain, especially where there is concentration risk.
I’m also following the [Financial Conduct Authority’s] Consumer Duty legislation closely, as this may also have impact on the playbooks that are deployed should an incident occur.
Mr Fidalgo: The main regulatory challenge during the next year will be the adequacy of the financial entities to Digital Operational Resilience Act (Dora).
BBVA considers Dora as an opportunity for the digital transformation of the EU’s financial services because it establishes requirements that will enhance security in the financial sector, which is an essential element of digital transformation. Dora establishes information and communications technology (ICT) risk management requirements, requires a proportional digital operational resilience testing programme and an ICT third party risk management strategy and allows cyberthreat and intelligence information sharing. All these elements will strengthen resilience, stability and confidence in the financial sector.
Q: How will your overall cyber strategy evolve in 2023 and beyond?
Mr Fidalgo: BBVA’s security strategy resides on four fundamental pillars: cybersecurity, data security, physical security and security in business processes and fraud. A programme has been designed for each of these pillars, with the aim to reduce the risks identified. These programmes, that consider security industry best practices established by inter-nationally accepted security standards, are periodically reviewed to evaluate the progress and the effective impact on the group risks.
Our strategy will continue evolving to tackle the new risks related to emerging technologies and the increase in the risk exposure as a result of the adoption of cloud and teleworking, among other factors. The evolution of the cyber strategy is based on a proactive approach, considering market proposals and the attack trends detected by BBVA’s intelligence services.
Our strategy will continue evolving to tackle the new risks related to emerging technologies and the increase in the risk exposure as a result of the adoption of cloud and teleworking
Mr Ulliott: Supply chain has been a recurring theme over the past 12 months and, as a result, our strategy will evolve to match that threat. Change happens at a rapid pace in a digital business and there are an ever-increasing range of suppliers, components and build-ing blocks that make up a modern bank. This will require increased focus to ensure the associated risks continue to be well managed.
Mr Branley: The only constant will be change. Our cyber strategy will adapt, focus-ing on: cloud security, data protection and privacy at scale; automation of security tasks; increased visibility across our ever-evolving IT landscape; horizon risks like quantum and AI; and increased use of enterprise-level data science to provide better insights into malicious activity and areas where we can improve further.
Mr Payne: Just as financial services firms strengthen their cybersecurity strategy head-ing into the year, threat actors are innovating new ways to execute increasingly nefarious acts. Therefore, financial institutions and their partners need a security mindset in every business decision, plus visibility across complex environments (multi-cloud, containers, third-party vendors, etc).
The depth and breadth of our customer base, meanwhile, provides unique intelligence across the global threatscape, allowing real-time actions and enabling proactive decisions for the benefit of all customers. This helps in areas including bot impact and managing abusive behaviour via anti-fraud solutions, etc, to maintain an optimal defensive posture despite this constant evolution.
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DUBLIN–(BUSINESS WIRE)–The “Automotive Cybersecurity Market – A Global and Regional Analysis: Focus on Product, Application, and Country Analysis – Analysis and Forecast, 2022-2031” report has been added to ResearchAndMarkets.com’s offering.

The automotive cybersecurity market was valued at $2.76 billion in 2022, and it is expected to grow at a CAGR of 22.97% and reach $17.73 billion by 2031.
The growth in the automotive cybersecurity market is expected to be driven by the increasing use of electronics per vehicle, the growing number of connected vehicles, rising cyber threats owing to the increase in data and connectivity of vehicles, and rising sales of electric vehicles.
Market Lifecycle Stage
The automotive cybersecurity market is still in a nascent phase. Latest advancements in connected and autonomous vehicles and the growing number of electronic control units (ECUs) in electric vehicles are majorly responsible for the rapid growth of this market.
Automotive cybersecurity solution providers are increasingly partnering with other key stakeholders in the automotive cybersecurity ecosystem to expand their global footprint. Moreover, the rising number of cyber-attacks is increasingly impacting automotive original equipment manufacturers (OEMs), resulting in significant financial losses.
Leading automotive OEMs have also been working on automotive cybersecurity solutions in-house to provide an extra or added layer of vehicle security for their offerings.
With increased adoption of connected vehicles being anticipated during the forecast period, the competition among established and emerging companies in the automotive cybersecurity solutions market is likely to continue growing to maintain leading market positions in the automotive cybersecurity industry.
Impact
The automotive cybersecurity market is driven by several factors, such as the rising number of ECUs in electric vehicles for enhanced performance and increased sophistication, the increasing number of cyber-attacks in the automotive industry, and the growing adoption of connected and autonomous vehicles.
Automotive cybersecurity solution providers are partnering with other key stakeholders and investing significantly toward the development of advanced automotive cybersecurity solutions to mitigate the growing number of cyber-attack vectors. With growing concerns regarding vehicle security amongst automotive OEMs, the automotive cybersecurity market is expected to grow significantly during the forecast years.
Market Segmentation
Segmentation 1: by Application
Segmentation 2: by Vehicle Type
Segmentation 3: by Level of Autonomy
Segmentation 4: by Security Type
Segmentation 5: by Form
Segmentation 6: by Region
Demand – Drivers and Limitations
The following are the demand drivers for the automotive cybersecurity market:
The following are the challenges for the automotive cybersecurity market:
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
The public companies operating in the global automotive cybersecurity market accounted for around 60% of the market share in 2021, while the private companies operating in the market captured around 40% of the market share.
Key Companies Profiled
Private Companies
Public Companies
Start-Ups Operating in the Automotive Cybersecurity Market Ecosystem
For more information about this report visit https://www.researchandmarkets.com/r/qtqpei
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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Laura Wood, Senior Press Manager
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For GMT Office Hours Call +353-1-416-8900

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