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A new wave of cyberattacks is sweeping over Swedish companies

A construction company was knocked out by an IT crash at the end of June. Now a food and retail chain has been hit and forced to close almost all stores. An actor in health and well-being, as well as a state railway company, has also experienced disruptions. These are just some of the thousands of companies globally that may have been affected by this weekend's massive cyberattack.
News
April 3, 2022
A new wave of cyberattacks is sweeping over Swedish companies

Despite warnings and high-profile intrusions, preparedness is alarmingly low for most companies:

  • almost 80% of senior IT staff and security managers believe that their companies lack adequate protection against cyberattacks.  
  • on average, each employee has access to 11 million files – but only 5% of companies' folders are properly protected.
  • only 57% of companies carried out a data security risk assessment in 2020.
  • more than 77% of organizations do not have a plan for action in the event of an attack.
  • more than 93% of healthcare organizations reported at least one intrusion or attack during the last three years.        

2020 meant several different challenges for both companies, authorities, and private individuals. During the global pandemic and growing political unrest, it is easy to forget a greater tangible danger. 2020 was a record year for the number of cyber-attacks and data leaks.

In addition to the fact that the number of attacks has increased significantly in recent years, the complexity of these threats has also increased dramatically. This is largely due to the application of emerging technologies such as Artificial Intelligence (AI).

''We will continue to see an increase in the number of cyber-related crimes affecting companies, authorities, and indirectly all residents of society. With the continued digitization and development of new technologies, while we work a lot from home due to Covid-19, unauthorized people find new ways to get into sensitive systems. This gives unauthorized persons the opportunity to shut down large parts of businesses and thus access sensitive data that is currently stored centrally and concentrated in the same place.'' says Christopher Ramstedt, Chief Operating Officer & Head of IR

''As society continues to digitize, there are ever-increasing demands on companies and the authorities when it comes to data security. It is obvious that most actors today, still work according to a centralized and outdated model. This makes it even easier for unauthorized people to perform attacks and thus access the stored data. We must move away from the centralized model, and instead start working in an intelligent, decentralized, and distributed environment.'' Christopher Ramstedt continues

''We at JS Security are experiencing an alarming need for secure data storage. With our intelligent and decentralized solution, Security-as-a-service, where the blockchain acts as one of the main components, we can give our customers the conditions to prevent unauthorized access to the stored data. We continue to work towards becoming the largest and a leading player in our segment, secure and decentralized storage. In the long term, we must be able to offer a nationally comprehensive and self-sufficient data storage network, which eliminates this globally growing problem and devastating consequences. We continue to work with sales, in parallel with development linked to our roadmap. In the future, we will also explore the market for potential acquisitions and partnerships to further strengthen our organization.'' Christopher Ramstedt adds

Sources

Forbes: Alarming Cybersecurity Stats

Comparitech: 300+ Terrifying Cybercrime and Cybersecurity Statistics & Trends

Verizon: Data Breach Investigations Report 2020

For further information, please contact: Christopher Ramstedt, Chief Operating Officer & Head of IR
ir@jssecurity.tech

About JS Security

JS Security is a Swedish blockchain-based cybersecurity group. The company's expertise lies in the development of advanced technological infrastructure and platforms based on blockchain technology. JS Security offers decentralized data storage and complementary applications primarily for B2B. The current customers are located in Scandinavia. JS Security has offices in Helsingborg and headquarters in Stockholm.

The company's shares are listed on Spotlight Stock Market.