Cyber Risk Outlook

Centre for Risk Studies Judge Business School, University of Cambridge RMS May 2019 Reference: https://www.jbs.cam.ac.uk/fileadmin/user_upload/research/centres/risk/downloads/crs-cyber-risk-outlook-2019.pdf This paper outlines key trends companies should look out for to manage their cyber risk and then describes the current state and prominent locations of data exfiltration (data theft) in 2019.  The next section focuses on malware, where it occurs and how it has evolved into extremely contagious and damaging software today.  The following section describes financial theft and the use of cryptocurrency online and within business.  We then learn about the possibility of cloud outages where because cloud computing gives companies a shared pool of resources the use of these shared resources comes with shared vulnerability in the event of an outage or breach.  The section also describes other causes of cloud outages and their risks. The next section outlines distributed denial of service (DDoS) attack which is a form of cyber attack that increases the traffic on a network, overwhelming it and making it inaccessible to legitimate users. DDoS attacks often exploit connected devices with low security to increase the severity of their attacks.  Finally, the paper closes with how to manage cyber risk.