Barracuda Networks has described a real-life example that, in this instance, failed. "On the day that the buyers were set to wire funds, they received an email from their mortgage company stating that they switched banks, and to follow the updated wiring instructions in the email attachment."
"Bringing cybersecurity up a level to the C-suite and providing it to them in a framework of risk helps them to really put the investments we want to make in the right framework, so they can understand those investments versus the overall compensation structure or the R&D pipeline," Dustin Driggs, Barracuda CFO, said.
Ransomware has dominated the headlines in recent months, but Barracuda’s SVP of security argues that spear phishing should be receiving the attention
"A large part of this too comes from the fact that media companies are not at all prepared for these threats and the impact isn't always obvious until it's too late," says Asaf Cidon, vice president of cybersecurity firm Barracuda networks.
And Barracuda has released an AI-based solution to combat spear phishing schemes and other fraudulent tactics. The solution uses artificial intelligence to protect businesses as well as consumers, in a cloud-based format.
Barracuda Sentinel employs a real-time AI system to keep a vigilant and critical eye on email accounts to stop spear phishing attempts, explained Asaf Cidon, vice president of Content Security Services at Barracuda Networks.
Asaf Cidon sold his security startup Sookasa to Barracuda in March 2016 and has been busy helping to build new technologies for Barracuda ever since. One of those new technologies was announced on June 28, with the debut of the Barracuda Sentinel service designed to help detect spear phishing and improve email security.