IoT security report finds ransomware, supply chain vulnerabilities top current risks

According to an OT/IoT security trends report from Nozomi Networks Labs, ransomware and Ransomware as a Service (RaaS) attacks continued to dominate cybercriminal activity in the second half of 2021, with an uptick in state-sponsored actions as global tensions rise.

The report finds that healthcare, transportation and food production are increasingly seen as highly vulnerable and lucrative targets based on their ability to disrupt society. More than 651 vulnerabilities were reported from July through December 2021 – a 21-percent increase over the previous six months. Supply chain vulnerabilities continue to offer the greatest opportunity to spread damage across a wide range of products, service providers or end users.

On the upside, the company says that, for first time, there are signs security and resilience strategies may be starting to gain an upper hand. In the second half of 2021, international law enforcement agencies combined efforts to take down ransomware gangs, seize bitcoin bounties and make criminal arrests. And, in spite of predictions that the Apache Log4j vulnerability would be the most widely exploited security breach ever, the attacks have not seen the catastrophic loss that was predicted.

“Security organizations and law enforcement are punching back,” said Nozomi Networks Co-founder and CTO, Moreno Carullo. “We are seeing some good signs that more security professionals are modernizing their defenses to address both prevention and resiliency, and that a post-breach mindset is paying off.”

Nozomi Networks’ “OT/IoT Security Report” provides security professionals with the latest insights needed to re-evaluate risk models and security initiatives, along with actionable recommendations for securing critical infrastructure.
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