Advice For Your Business Following The Meltdown And Spectre CPU Flaw Revelations

Cybersecurity has hit the headlines again this week with news of two critical security flaws in the architecture of the central processing units (CPUs) of the world's three largest chip producers, including Intel.

The bugs, known as Meltdown and Spectre, affect nearly every computer and device. They allow access to potentially sensitive data via unencrypted kernel and system memory, previously assumed to be protected at a hardware level.

There is currently no evidence that the flaws have been used by criminals. However, now that their existence has entered the public domain, we are likely to see a surge in malicious activity as hackers scramble to exploit the vulnerabilities before they can be patched.

Growing risks

As software companies rush out security patches and Intel and others are forced to redesign their CPU architecture from the ground up, it is vital that businesses prioritise cybersecurity.

As companies continue to generate and store ever-increasing volumes of personal and commercially sensitive data, the incentives for a cyber-attack are growing. This risk is further exacerbated by the increasing interconnectivity of devices and appliances known as the Internet of Things.

The number of companies affected by cybercrime is also rising. According to PwC's Global State of Information Security Survey 2018, 29% of respondents reported loss or damage of internal records as a result of a security incident. These numbers are likely to dramatically underestimate the true figures, as a further 28% reported that they simply did not know how many cyber-attacks they had had.

Preparing for an attack

Although businesses can't eliminate the risk of a cyberattack, they can dramatically reduce it by following these steps:

Ensure software (especially operating systems) is kept updated, with mandatory updates on all devices, including any device, be it a smartphone, laptop or home computer, used by employees to access business data. Put robust systems and controls to reduce the risk of accidental or intentional data breach by employees. Use a specialist security company to test the strength of your IT defences and find weak spots which can be patched. Provide...