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Killexams : Palo-Alto Cybersecurity education - BingNews https://killexams.com/pass4sure/exam-detail/PCCET Search results Killexams : Palo-Alto Cybersecurity education - BingNews https://killexams.com/pass4sure/exam-detail/PCCET https://killexams.com/exam_list/Palo-Alto Killexams : Cybersecurity in Education Market to Witness Huge Growth by 2028 : IBM, Symantec, McAfee No result found, try new keyword!New Jersey, NJ — (SBWIRE) — 09/23/2022 — The Latest research study released by HTF MI "Global Cybersecurity in ... Fortinet, Palo Alto Networks, Cyberark, Forcepoint, Fireeye, F-Secure ... Fri, 23 Sep 2022 02:02:00 -0500 https://www.digitaljournal.com/pr/cybersecurity-in-education-market-to-witness-huge-growth-by-2028-ibm-symantec-mcafee Killexams : Better Cybersecurity Stock: Palo Alto Networks vs. Fortinet

Palo Alto Networks (PANW -1.94%) and Fortinet (FTNT -2.17%) are both promising cybersecurity companies that have consistently bested the market. Over the past five years, Palo Alto's stock rallied about 240% as Fortinet's stock surged more than 580%. By comparison, the Nasdaq Composite rose just over 60% and the S&P 500 by about 40%.

Both companies impressed investors with their robust revenue growth and rising profits. Investors also increasingly viewed the cybersecurity market -- which Fortune Business Insights expects to grow at a compound annual rate of 13.4% between 2022 and 2026 -- as an evergreen industry that could weather the unpredictable macro headwinds.

An IT worker looks at a screen.

Image source: Getty Images.

But should investors still buy either of these cybersecurity stocks as rising interest rates drive investors away from higher-growth tech companies? Let's take a fresh look at their business models, growth rates, and valuations to decide.

The similarities and differences

Palo Alto and Fortinet both created next-gen firewalls by upgrading traditional versions with network device filtering tools. Fortinet launched its first firewall, Fortigate, in 2002. Palo Alto introduced its first next-gen firewall, Strata, in 2007. Both companies capitalized on the growth of those next-gen firewalls to expand their ecosystems with additional services.

Fortinet turned FortiGate into the heart of its "Security Fabric," which provides additional end-to-end protection services for on-premise, cloud-based, and Internet of Things (IoT) devices. Meanwhile, Palo Alto acquired more companies and launched two next-gen platforms: Prisma for cloud-based security services and Cortex for its threat-detection tools powered by artificial intelligence (AI). These complement Strata and widen its moat against newer competitors in the cloud and AI markets.

Today, Fortinet serves over half a million customers worldwide, including most of the Fortune 500. Palo Alto serves more than 85,000 customers, including most of the Fortune 100. Both companies generate a majority of their revenue from subscription-based services, but Palo Alto usually serves larger enterprise customers than Fortinet.

Fortinet is also more geographically diversified than Palo Alto Networks. In their latest fiscal years, Fortinet generated 41% of its revenue in the Americas, while that same region accounted for 69% of Palo Alto's top line.

Which company is growing faster?

Palo Alto and Fortinet have been growing at similar rates. Palo Alto's revenue rose 29% to $5.5 billion in fiscal 2022, which ended in July, as its billings increased 37% to $7.5 billion. It attributed most of that growth to the expansion of its next-gen security services, Prisma and Cortex. Its adjusted earnings per share (EPS) increased 23%.

For fiscal 2023, Palo Alto expects its revenue to rise another 25%, its billings to increase 20% to 21%, and its adjusted EPS to grow 24% to 26%. The company also finally expects to turn firmly profitable on a GAAP (generally accepted accounting principles) basis for the full year. Palo Alto notably closed a 3-for-1 stock split last month.

In 2021, Fortinet's revenue rose 29% to $3.3 billion, billings 35% to $4.2 billion, and its adjusted EPS 19%. Unlike Palo Alto, it's been profitable on a GAAP basis for many years. It attributed a lot of its accurate growth to the convergence of the security and networking markets and the fresh threats posed by remote and hybrid work.

For 2022, Fortinet expects its revenue to rise 30% to 32%, its billings by 33% to 35%, and its adjusted EPS by 27% to 33% (after factoring in its 5-for-1 stock split earlier this year).

The valuations and verdict

Neither stock can be considered a screaming bargain yet. Palo Alto still trades at 53 times forward earnings, while Fortinet has a lower forward price-to-earnings ratio of 38.

I like both stocks as long-term plays (I personally own shares of Palo Alto). Still, Fortinet looks like a slightly better investment because it's growing faster, trading at a lower multiple, and is already firmly profitable by GAAP measures. Those strengths could make it a more appealing investment as long as rising interest rates continue to rattle the markets.

 

Leo Sun has positions in Palo Alto Networks. The Motley Fool has positions in and recommends Fortinet and Palo Alto Networks. The Motley Fool has a disclosure policy.

Mon, 03 Oct 2022 21:24:00 -0500 Leo Sun en text/html https://www.fool.com/investing/2022/10/04/better-cybersecurity-stock-palo-alto-networks-vs-f/
Killexams : FireEye, Palo Alto Networks Among 6 Cybersecurity Stocks to Watch No result found, try new keyword!Innovative new cybersecurity companies like FireEye and Palo Alto Networks offer high returns and niche market investing opportunities. Here are the stocks to watch. Innovative new cybersecurity ... Thu, 08 Sep 2022 12:00:00 -0500 en-us text/html https://www.thestreet.com/technology/fireeye-palo-alto-networks-among-6-cybersecurity-stocks-to-watch-13184535 Killexams : Palo Alto, Palantir, others may see boost from federal cybersecurity spending: Wedbush
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Palto Alto Networks (NASDAQ:PANW), Palantir (NYSE:PLTR), Tenable (NASDAQ:TENB) and several other software companies are likely to see a benefit from increased spending by the U.S. government on cybersecurity, investment firm Wedbush Securities said on Friday.

Doing a deep diver in the sector, analyst Dan Ives noted that accurate data breaches, including the high-profile SolarWinds hack last year and the accurate attack suffered by Uber (UBER), there is a "large effort" from the Biden administration to boost the country's security on a software and cyber level.

Ives noted the Bipartisan Cyber Incident Reporting Act of 2021 and the recently signed CIRCIA Act as being catalysts for improved spending in the space.

"As the threat landscape and bad actor and nation-state backdrop amplified by cyber warfare and crime continues to accelerate, federal spending has been forced to adapt and increase investment, providing an open opportunity for cybersecurity firms to take market share in the expansive government contract world," Ives wrote in a note to clients.

Delving deeper, Ives noted there are a lot of spending initiatives coming from the Beltway, as the government continues to be diligent about which contractors it works with and where they are likely to see benefits, including from the National Institute of Standards and Technology, FedRAMP, the Cybersecurity and Infrastructure Security Agency and the General Services Administration.

The analyst also noted that between 85% and 90% of deals the firm is tracing have closed and federal spending activity was described as "very strong" over the past few months. He also noted that some federal cybersecurity budgets have rose between 35% and 40% year-over-year.

As such, companies like Palo Alto Networks (PANW), Tenable (TENB), Zscaler (ZS), Fortinet (NASDAQ:FTNT), CrowdStrike(CRWD), Palantir (PLTR), Telos (TLS), and CyberArk (CYBR) are likely to benefit.

"With increased cyber budgets across all government verticals throughout 2022, including cybersecurity, firewall refreshes and vulnerability/threat management, we believe cyber companies are poised for significant growth providing a massive land grab opportunity for well-positioned cybersecurity vendors with the right products/value propositions that hit core pain points facing the government today," Ives explained.

Thu, 29 Sep 2022 22:27:00 -0500 en text/html https://seekingalpha.com/news/3887530-palo-alto-palantir-others-may-see-boost-from-federal-cybersecurity-spending-wedbush
Killexams : Canada Targeted in 141 Ransomware Attacks in 2021 per Palo Alto Networks Unit 42

The MarketWatch News Department was not involved in the creation of this content.

TORONTO, Oct. 13, 2022 (Canada NewsWire via COMTEX) -- Ontario and Quebec hardest hit provinces

In recognition of Cybersecurity Awareness Month, Palo Alto Networks is sharing insights concerning the ever-present threat that ransomware poses to individuals, businesses and public institutions across Canada. In 2021, over 140 Canadian organizations suffered a ransomware attack, according to the 2022 Ransomware Threat Report recently released by Palo Alto Networks (NASDAQ: PANW), the global cybersecurity leader.

The Palo Alto Networks Unit 42 Threat Intelligence team analyzed ransomware leak site data to provide insights into more than 56 ransomware groups leveraging multi-extortion techniques. Multi-extortion is when attackers not only encrypt the files of an organization but also name and shame the victims and/or threaten to launch additional attacks to encourage victims to pay. In 2021, the names and proof of compromise for 2,566 victims were publicly posted on ransomware leak sites, marking an 85% increase compared to 2020. The largest number of victims from dark web leak site data were from the United States (1,217), followed by Canada (141), the United Kingdom (133), France (132), Italy (100) and Germany (100).

Conti, a once-prolific cyber extortion group that Unit 42 followed since 2020, targeted Canadian companies the most heavily in 2021, responsible for 27.7% of the leak site activity monitored by Unit 42. LockBit 2.0 was second (14.2%).

"Ransomware gangs have become more emboldened with their attacks in Canada and around the world, targeting businesses of all shapes and sizes," said Ivan Orsanic, regional vice president and Canada country manager at Palo Alto Networks. "It's not a matter of 'if', but when organizations will be targeted. Being prepared and having the right security strategy, policy, and technologies in place is critical to combatting the latest threats."

In December 2021, the Canadian government posted an open letter in which similar sentiments were shared: "Across the world, we have seen a marked rise in the volume and range of cyber threats -- and Canada is no exception." At the time the Canadian government launched several efforts to help combat this threat, including the publication of a Ransomware Playbook to assist organizations with both prevention and response activities.

Organizations in Ontario and Quebec saw the greatest amount of activity on leak sites in 2021, with 52 and 45 victims, respectively, followed by British Columbia with 24 and Alberta with 10. Twenty-seven different ransomware groups posted details on victims in Ontario, the most of any province, followed by Quebec with 12. Unit 42 researchers did not see any leak sites posting breaches of organizations in Nova Scotia, Prince Edward Island, Yukon, Northwest Territories and Nunavut recorded in 2021.

Manufacturing was the most targeted Canadian industry vertical by ransomware gangs, accounting for nearly 20% of all attacks, followed by professional and legal services at just under 20%. Wholesale and retail as well as construction each accounted for 9.3%, with some of the least targeted industries being education and transportation at less than one percent.

Globally, Unit 42 incident response case data revealed that the average ransomware demand rose by 144% in 2021 to US$2.2 million, while the average payment climbed 78% to US$541,010. In addition to the increase in average ransom demands, Unit 42 researchers also observed a rise in the use of "victim shaming," where ransomware groups use leak sites to "name and shame" victims, thereby increasing pressure on the victim to pay the ransom demand. At least 35 new ransomware groups, such as Hive, BlackMatter and BlackCat (ALPHV), threatened to expose data or utilized leak sites in 2021.

"The ripple effect from these ransomware attacks can drastically impact services many of us take for granted, whether grocery shopping, buying gas or obtaining medical care," said Orsanic. "Combatting these threats is a shared responsibility with businesses and citizens needing to Strengthen their cyber hygiene."

    --  For more information about the 2022 Unit 42 Ransomware Threat
        Report, please visit this
        page.
    --  To learn more about how Palo Alto Networks Unit 42 helps
        Canadian organizations protect against ransomware attacks,
        please visit
        our ransomware investigation page
        or our
        ransomware readiness assessment.


About Palo Alto Networks Palo Alto Networks is the world's cybersecurity leader. We innovate to outpace cyberthreats, so organizations can embrace technology with confidence. We provide next-gen cybersecurity to thousands of customers globally, across all sectors. Our best-in-class cybersecurity platforms and services are backed by industry-leading threat intelligence and strengthened by state-of-the-art automation. Whether deploying our products to enable the Zero Trust Enterprise, responding to a security incident, or partnering to deliver better security outcomes through a world-class partner ecosystem, we're committed to helping ensure each day is safer than the one before. It's what makes us the cybersecurity partner of choice.

At Palo Alto Networks, we're committed to bringing together the very best people in service of our mission, so we're also proud to be the cybersecurity workplace of choice, recognized among Newsweek's Most Loved Workplaces (2021), Comparably Best Companies for Diversity (2021), and HRC Best Places for LGBTQ Equality (2022). For more information, visit www.paloaltonetworks.com.

About Unit 42Palo Alto Networks Unit 42 brings together world-renowned threat researchers, elite incident responders, and expert security consultants to create an intelligence-driven, response-ready organization that's passionate about helping you proactively manage cyber risk. Together, our team serves as your trusted advisor to help assess and test your security controls against the right threats, transform your security strategy with a threat-informed approach, and respond to incidents in record time so that you get back to business faster. Visit paloaltonetworks.com/unit42.

For further information, contact press@paloaltonetworks.com

SOURCE Palo Alto Networks, Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2022/13/c9601.html

SOURCE: Palo Alto Networks, Inc.

COMTEX_416542595/2197/2022-10-13T08:15:00

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

Copyright (C) 2022 CNW Group. All rights reserved.

The MarketWatch News Department was not involved in the creation of this content.

Thu, 13 Oct 2022 00:15:00 -0500 en-US text/html https://www.marketwatch.com/press-release/canada-targeted-in-141-ransomware-attacks-in-2021-per-palo-alto-networks-unit-42-2022-10-13
Killexams : Palo Alto (PANW) Gains From Higher Cyber Safety Demand, Tie Ups

Palo Alto Networks PANW is benefiting from the increased adoption of its next-generation security platforms, driven by a rise in the remote working policy among top-notch companies. The cyber security firm continues to win back-to-back deals for offering unique cyber safety solutions, which ensure the blocking of attacks or malicious content. It is currently focusing on selling more subscription-based services, which, in turn, are helping it to generate stable revenues while expanding margins.

Palo Alto's subscription-based services like AutoFocus, Aperture, Traps, WildFire and Virtual are not only witnessing solid growth but also bolstering the customer base. We believe that the subscription-based business model will continue to Strengthen the company’s top and bottom lines.

Growing traction in Palo Alto's Prisma and Cortex offerings continues to act as a tailwind. In September, the company collaborated with the Bangalore-based technology firm, Infosys INFY, to secure a postal operator and e-commerce logistics provider, Bpost (Belgium Post)’s cloud environment by monitoring and utilizing advanced threat hunting capabilities through Infosys’ Cyber Next solution portfolio.

Infosys implemented Palo Alto’s Cortex XSOAR solution, a comprehensive security orchestration, automation and response (“SOAR”) platform, to create robust cyber resilience for mail delivery and e-commerce logistics services of Bpost. Cortex XSOAR’s fully automated response playbooks and artificial intelligence-led predictions will protect Bpost from threats and strengthen its cloud security.

Notably, Palo Alto’s acquisition of The Crypsis Group in 2020 strengthened its Cortex platform with expert services for incident response and proactive assurance.

In May 2022, the company entered an agreement with Oracle Corporation's ORCL Oracle Cloud Infrastructure Network Firewall to integrate its VM-Series Next-Generation Firewall solution with Oracle Network Firewall for blocking threats and reducing risk breaches.

Oracle’s Cloud Infrastructure Network Firewall helps customers defend against emerging threats in their cloud adoption journey. With the unified network solution, customers can quickly turn on and secure their applications and cloud environment with Palo Alto’s firewall features and scale their security across their cloud deployment.

In April, Palo Alto’s Internet of Things Security solution obtained "Moderate Authorization" status for the Federal Risk and Authorization Management Program. This recognition highlights the trust that the U.S. government puts in PANW's standardized threat prevention and Zero Trust enforcement capabilities.

However, Palo Alto faces stiff competition from several big and small players in the security application market. Over the past couple of years, demand for IT security has been on a rise, driven by increased awareness about cyber attacks, making the market more attractive for new players. Established players like Cisco Systems CSCO are sparing no effort to position well in this intensely competitive space.

In February, Cisco reportedly made a takeover offer worth more than $20 billion for software maker Splunk Inc. The potential deal is likely to combine Cisco’s strength in network security with Splunk’s strength in data-focused security operations, positioning it well in the security operations space. This deal could mark the networking giant’s biggest acquisition move, making it a daunting competitor for Palo Alto.

In the last reported quarter, Palo Alto reported revenues of $1.60 billion. The top line, which grew 27% from the year-earlier reported figure, was aided by several deal wins and increased adoption of Palo Alto’s Next-Generation Security platforms due to the hybrid work culture and the need for stronger security.


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Wed, 05 Oct 2022 04:54:00 -0500 en-US text/html https://news.yahoo.com/palo-alto-panw-gains-higher-142002278.html
Killexams : Palo Alto Networks, USAID ink MOU to boost cybersecurity in the Philippines


California-based cybersecurity firm Palo Alto Networks and the United States Agency for International Development (USAID) on Tuesday signed an accord to boost cybersecurity capabilities in the Philippines.

A memorandum of understanding (MOU) was signed by Palo Alto Networks regional vice president for ASEAN Steven Scheurmann and USAID Philippine acting mission director Rebekah Eubanks at a ceremony in Mandaluyong City.

Under the MOU, Palo Alto and USAID will collaborate to develop programs and activities, and provide technical assistance and expert advisory in a bid to aid the growing demand for digital transformation in the country.

The areas of collaboration between the two parties include assessments, audits, training, skills development, and certifications for cybersecurity talents.

The partnership is also aimed at boosting the Philippines' capabilities to defend against malicious entities by implementing a "zero trust" framework — Palo Alto's strategic approach to cybersecurity by eliminating implicit trust and continuously validating every stage of digital interaction.

At a press briefing, Palo Alto Networks country manager for Philippines Oscar Visaya said, “Governments are modernizing their networks to take advantage of digital innovations and Strengthen the way they communicate with citizens. As they modernize their IT infrastructure, their cybersecurity must keep pace with these developments.”

“Through this collaboration, we are desparate to bring our expertise to help strengthen the defense posture of the Philippines' ICT (information and communication technology) ecosystem and produce the digital way of life for Filipinos,” Visaya said.

The partnership is seen to increase the adoption of e-commerce and other digital services by increasing consumer confidence through awareness and promotion of safe computing practices, and the adoption of international standards and best practices.

The accord is also in line with USAID’s five-year project Better Access and Connectivity Activity, which aims to expand digital connectivity in the Philippines. —KBK, GMA News

Tue, 04 Oct 2022 04:02:00 -0500 en text/html https://www.gmanetwork.com/news/money/companies/846926/palo-alto-networks-usaid-ink-mou-to-boost-cybersecurity-in-the-philippines/story/
Killexams : Better Cybersecurity Stock: Palo Alto Networks vs. Fortinet

Palo Alto Networks (NASDAQ: PANW) and Fortinet (NASDAQ: FTNT) are both promising cybersecurity companies that have consistently bested the market. Over the past five years, Palo Alto's stock rallied about 240% as Fortinet's stock surged more than 580%. By comparison, the Nasdaq Composite rose just over 60% and the S&P 500 by about 40%.

Both companies impressed investors with their robust revenue growth and rising profits. Investors also increasingly viewed the cybersecurity market -- which Fortune Business Insights expects to grow at a compound annual rate of 13.4% between 2022 and 2026 -- as an evergreen industry that could weather the unpredictable macro headwinds.

But should investors still buy either of these cybersecurity stocks as rising interest rates drive investors away from higher-growth tech companies? Let's take a fresh look at their business models, growth rates, and valuations to decide.

The similarities and differences

Palo Alto and Fortinet both created next-gen firewalls by upgrading traditional versions with network device filtering tools. Fortinet launched its first firewall, Fortigate, in 2002. Palo Alto introduced its first next-gen firewall, Strata, in 2007. Both companies capitalized on the growth of those next-gen firewalls to expand their ecosystems with additional services.

Fortinet turned FortiGate into the heart of its "Security Fabric," which provides additional end-to-end protection services for on-premise, cloud-based, and Internet of Things (IoT) devices. Meanwhile, Palo Alto acquired more companies and launched two next-gen platforms: Prisma for cloud-based security services and Cortex for its threat-detection tools powered by artificial intelligence (AI). These complement Strata and widen its moat against newer competitors in the cloud and AI markets.

Today, Fortinet serves over half a million customers worldwide, including most of the Fortune 500. Palo Alto serves more than 85,000 customers, including most of the Fortune 100. Both companies generate a majority of their revenue from subscription-based services, but Palo Alto usually serves larger enterprise customers than Fortinet.

Fortinet is also more geographically diversified than Palo Alto Networks. In their latest fiscal years, Fortinet generated 41% of its revenue in the Americas, while that same region accounted for 69% of Palo Alto's top line.

Which company is growing faster?

Palo Alto and Fortinet have been growing at similar rates. Palo Alto's revenue rose 29% to $5.5 billion in fiscal 2022, which ended in July, as its billings increased 37% to $7.5 billion. It attributed most of that growth to the expansion of its next-gen security services, Prisma and Cortex. Its adjusted earnings per share (EPS) increased 23%.

For fiscal 2023, Palo Alto expects its revenue to rise another 25%, its billings to increase 20% to 21%, and its adjusted EPS to grow 24% to 26%. The company also finally expects to turn firmly profitable on a GAAP (generally accepted accounting principles) basis for the full year. Palo Alto notably closed a 3-for-1 stock split last month.

In 2021, Fortinet's revenue rose 29% to $3.3 billion, billings 35% to $4.2 billion, and its adjusted EPS 19%. Unlike Palo Alto, it's been profitable on a GAAP basis for many years. It attributed a lot of its accurate growth to the convergence of the security and networking markets and the fresh threats posed by remote and hybrid work.

For 2022, Fortinet expects its revenue to rise 30% to 32%, its billings by 33% to 35%, and its adjusted EPS by 27% to 33% (after factoring in its 5-for-1 stock split earlier this year).

The valuations and verdict

Neither stock can be considered a screaming bargain yet. Palo Alto still trades at 53 times forward earnings, while Fortinet has a lower forward price-to-earnings ratio of 38.

I like both stocks as long-term plays (I personally own shares of Palo Alto). Still, Fortinet looks like a slightly better investment because it's growing faster, trading at a lower multiple, and is already firmly profitable by GAAP measures. Those strengths could make it a more appealing investment as long as rising interest rates continue to rattle the markets.

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Tue, 04 Oct 2022 01:23:00 -0500 en-US text/html https://www.msn.com/en-us/money/topstocks/better-cybersecurity-stock-palo-alto-networks-vs-fortinet/ar-AA12Aidm
Killexams : Canada Targeted in 141 Ransomware Attacks in 2021 per Palo Alto Networks Unit 42

Ontario and Quebec hardest hit provinces

TORONTO, Oct. 13, 2022 /CNW/ -- In recognition of Cybersecurity Awareness Month, Palo Alto Networks is sharing insights concerning the ever-present threat that ransomware poses to individuals, businesses and public institutions across Canada. In 2021, over 140 Canadian organizations suffered a ransomware attack, according to the 2022 Ransomware Threat Report recently released by Palo Alto Networks (NASDAQ: PANW), the global cybersecurity leader.

The Palo Alto Networks Unit 42 Threat Intelligence team analyzed ransomware leak site data to provide insights into more than 56 ransomware groups leveraging multi-extortion techniques. Multi-extortion is when attackers not only encrypt the files of an organization but also name and shame the victims and/or threaten to launch additional attacks to encourage victims to pay. In 2021, the names and proof of compromise for 2,566 victims were publicly posted on ransomware leak sites, marking an 85% increase compared to 2020. The largest number of victims from dark web leak site data were from the United States (1,217), followed by Canada (141), the United Kingdom (133), France (132), Italy (100) and Germany (100).

Conti, a once-prolific cyber extortion group that Unit 42 followed since 2020, targeted Canadian companies the most heavily in 2021, responsible for 27.7% of the leak site activity monitored by Unit 42. LockBit 2.0 was second (14.2%).

"Ransomware gangs have become more emboldened with their attacks in Canada and around the world, targeting businesses of all shapes and sizes," said Ivan Orsanic, regional vice president and Canada country manager at Palo Alto Networks. "It's not a matter of 'if', but when organizations will be targeted. Being prepared and having the right security strategy, policy, and technologies in place is critical to combatting the latest threats."

In December 2021, the Canadian government posted an open letter in which similar sentiments were shared: "Across the world, we have seen a marked rise in the volume and range of cyber threats — and Canada is no exception." At the time the Canadian government launched several efforts to help combat this threat, including the publication of a Ransomware Playbook to assist organizations with both prevention and response activities.

Organizations in Ontario and Quebec saw the greatest amount of activity on leak sites in 2021, with 52 and 45 victims, respectively, followed by British Columbia with 24 and Alberta with 10. Twenty-seven different ransomware groups posted details on victims in Ontario, the most of any province, followed by Quebec with 12. Unit 42 researchers did not see any leak sites posting breaches of organizations in Nova Scotia, Prince Edward Island, Yukon, Northwest Territories and Nunavut recorded in 2021.

Manufacturing was the most targeted Canadian industry vertical by ransomware gangs, accounting for nearly 20% of all attacks, followed by professional and legal services at just under 20%. Wholesale and retail as well as construction each accounted for 9.3%, with some of the least targeted industries being education and transportation at less than one percent.

Globally, Unit 42 incident response case data revealed that the average ransomware demand rose by 144% in 2021 to US$2.2 million, while the average payment climbed 78% to US$541,010. In addition to the increase in average ransom demands, Unit 42 researchers also observed a rise in the use of "victim shaming," where ransomware groups use leak sites to "name and shame" victims, thereby increasing pressure on the victim to pay the ransom demand. At least 35 new ransomware groups, such as Hive, BlackMatter and BlackCat (ALPHV), threatened to expose data or utilized leak sites in 2021.

"The ripple effect from these ransomware attacks can drastically impact services many of us take for granted, whether grocery shopping, buying gas or obtaining medical care," said Orsanic. "Combatting these threats is a shared responsibility with businesses and citizens needing to Strengthen their cyber hygiene." 

About Palo Alto Networks 
Palo Alto Networks is the world's cybersecurity leader. We innovate to outpace cyberthreats, so organizations can embrace technology with confidence. We provide next-gen cybersecurity to thousands of customers globally, across all sectors. Our best-in-class cybersecurity platforms and services are backed by industry-leading threat intelligence and strengthened by state-of-the-art automation. Whether deploying our products to enable the Zero Trust Enterprise, responding to a security incident, or partnering to deliver better security outcomes through a world-class partner ecosystem, we're committed to helping ensure each day is safer than the one before. It's what makes us the cybersecurity partner of choice.

At Palo Alto Networks, we're committed to bringing together the very best people in service of our mission, so we're also proud to be the cybersecurity workplace of choice, recognized among Newsweek's Most Loved Workplaces (2021), Comparably Best Companies for Diversity (2021), and HRC Best Places for LGBTQ Equality (2022). For more information, visit www.paloaltonetworks.com.

About Unit 42
Palo Alto Networks Unit 42 brings together world-renowned threat researchers, elite incident responders, and expert security consultants to create an intelligence-driven, response-ready organization that's passionate about helping you proactively manage cyber risk. Together, our team serves as your trusted advisor to help assess and test your security controls against the right threats, transform your security strategy with a threat-informed approach, and respond to incidents in record time so that you get back to business faster. Visit paloaltonetworks.com/unit42.

For further information, contact [email protected]

SOURCE Palo Alto Networks, Inc.

Thu, 13 Oct 2022 05:56:00 -0500 en text/html https://www.newswire.ca/news-releases/canada-targeted-in-141-ransomware-attacks-in-2021-per-palo-alto-networks-unit-42-802031750.html
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