By stock_street_wire

This is Why Cyberattacks May Only Get Worse

Cyberattacks are only getting worse.

Hospitals, schools, and financial institutions aren’t ready. “Nearly 29% of organizations haven’t tested their cyber defenses for a year and out of them more than half weren’t confident about whether their plans will work as per the expectations,” says FireEye, as reported by Cybersecurity Insiders.

So it came as no shock, the world was hit again.

T-Mobile for example said hackers stole data of about 50 million people.  Major companies, like Colonial Pipeline were taken down by a remote account with compromised VPN, or virtual private network password.

In late August, the U.S. State Department was hit.

According to Sam Curry, chief security officer at Cybereason, as quoted by Infosecurity-Magazine.com, “The recent cyber-attack against the U.S. State Department is a reminder that anyone and everyone can be hit and will be hit. Today, it is a matter of how quickly threats are discovered and how quickly they are stopped. Overall, the State Department’s networks are big, and they are presumably getting attacked by nation-states, terrorists and other adversaries on a daily basis.”

Cities, hospitals, schools, and many companies aren’t ready.

The worst part – more attacks are likely, fueling upside in related cybersecurity stocks including FireEye (FEYE), Palo Alto (PANW), and Fortinet (FTNT).

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