Cyber Markets Round-up: Week 24, June '23: Understanding the dynamics of building a resilient cybersecurity strategy
Cyber Markets Roundup | Weekly cybersecurity investment highlights
*Stock data as of the market close, cryptocurrency data as of 4:00 AM ET.
WHAT’S NEW
WHAT’S NEW
Energy Companies Need to Understand Their Cyber Attack Surface to Protect Against Cybersecurity Threats
Cyber threats targeting energy companies are on the rise, and the recent alleged attack on a Canadian natural gas company by Russian-based hacking group Zarya had many in the industry on edge.
In light of this alarming trend, it’s clear that energy companies must prioritize cybersecurity, investing in advanced technology and employee training to combat these threats. Cooperation between the private sector, government agencies, and security experts will be crucial for staying informed about potential risks and developing strategies to mitigate them. [Marketscale]
Americans lost $330 million last year to text message scams
More Americans are falling victim to text-messaging scams, and losing thousands of dollars in the process.
U.S. consumers lost $330 million to fraudulent texts last year, up from $131 million in 2021 and $86 million in 2020, according to a FTC scam report published Thursday. The median loss reported by individual victims was $1,000, the federal agency said — double the amount in losses reported in 2021.
Copycat bank fraud
Copycat bank fraud is when a fraudster sends a text pretending to be from a major bank like Wells Fargo or JPMorgan Chase. The fake text notifies the recipient of a suspicious transaction from their bank account and asks them to reply "yes" or "no" to approve or reject a transaction. Anyone who replies either way will get a call from a person posing as a representative from the fraud department of the bank. [CBS News]
[VIDEO] Are cybersecurity stocks positioned to rise?
Demand for cybersecurity remains front and centre for companies looking to keep up in the tech era, which is why one analyst says she is bullish on stocks within the sector.
Speaking with BNN Bloomberg’s Amber Kanwar on Monday, Catharine Trebnick, senior research analyst at Rosenblatt Securities, said some cybersecurity stocks have room to grow beyond 20 per cent as large deals come together within the industry and demand for these products remain strong. [BNN Bloomberg Canada]
[REPORT] Healthcare Cybersecurity Market Size to Grow USD 17240 Million by 2029 at a CAGR of 13.2%
The global Healthcare Cybersecurity market was valued at USD 8188.1 million in 2022 and is anticipated to reach USD 17240 million by 2029, witnessing a CAGR of 13.2% during the forecast period 2023-2029.
The market for healthcare cybersecurity is anticipated to expand over the next several years, given the importance of healthcare data and the expanding cyber threats that the sector must deal with.
Additionally, it is predicted that the adoption of 5G technology, regulatory requirements, and an increase in the use of connected devices, smartphones, and cloud-based solutions in the healthcare industry will all contribute to the market's expansion during the projection period.
The largest market over the predicted period will be in North America. Due to their strong economies, the US and Canada are expected to considerably contribute to the growth of the healthcare cybersecurity market in North America. Aside from this aspect, the vast deployments of healthcare cybersecurity systems are being impacted by the widespread adherence to data compliance rules and cloud deployments. [Valuates Reports]
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