We’re sitting ducks.
After all these years, we’re still not ready for cyberattacks.
Our own government isn’t ready for more. Most recently, “the US Coast Guard has been urged to improve the cybersecurity infrastructure of the Maritime Transportation System (MTS), which includes ports, waterways, and vessels essential for transporting over $5.4 trillion worth of goods annually,” says Tripwire.com.
The problem, according to the GAO's report, is that MTS facilities and vessels are increasingly reliant upon vulnerable technology, and that the impact of future incidents could be severe.
Cities, hospitals, schools, and many companies aren’t ready either.
A Medusa ransomware group claims to have stolen data from NASCAR. Reportedly, that includes “staff members' names, email addresses, and titles, credential-related details, and detailed raceway ground maps would be exposed should the company refuse to pay the $4 million ransom within 10 days,” as noted by SCWorld.com.
With that, keep an eye on beaten-down cybersecurity stocks, like Palo Alto (SYM: PANW), CrowdStrike (SYM: CRWD), Zscaler (SYM: ZS), and ETFs such as:
Global X Cybersecurity ETF (SYM: BUG)
“The Global X Cybersecurity ETF (BUG) seeks to invest in companies that stand to potentially benefit from the increased adoption of cybersecurity technology, such as those whose principal business is in the development and management of security protocols preventing intrusion and attacks to systems, networks, applications, computers, and mobile devices,” says Global X.
iShares Cybersecurity and Tech ETF (SYM: IHAK)
According to iShares, “The iShares Cybersecurity and Tech ETF seeks to track the investment results of an index composed of developed and emerging market companies involved in cyber security and technology, including cyber security hardware, software, products, and services.”
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Written by Ian Cooper