Companies across different industries around the globe, along with government institutions, cite cyber attacks as one of the biggest security threats to their existence. As a matter of fact, in a recent Forbes survey of over 700 companies from 79 countries, 88 percent of respondents said that they are “extremely concerned” or “concerned” by the risk of getting attacked by hackers.
This fact is a clear indication that organizations have to ramp up efforts for enhancing their cyber resilience, but to do that successfully and in the most effective manner, they need to have a clear understanding of where the biggest cyber threats come from nowadays so that they can shape their cyber defenses accordingly. We take a look at the most common cybersecurity threats today, ranging from internal threats, cyber criminals looking for financial gains, and nation states.
When talking about cyber security, some of the first things that usually come to mind are freelance hackers and state-sponsored attacks between hostile nations. But, many cyber security incidents actually come from within organizations, or to be more specific, from their own employees.
Pretty much all experts agree that employees are some of the weakest links in the cyber defense of every organization, in part due to low cyber security awareness, and sometimes due to criminal intent.
Employees often put their companies at risk of getting hacked without meaning to, by opening phishing emails or sharing confidential files through insecure channels, which is why organizations should make sure their staff knows the basics of cyber security and how to avoid the common cyber scams and protect data.
With so many devices connected to the Internet nowadays, including video cameras, smart phones, tablets, sensors, POS terminals, medical devices, printers, scanners, among others, organizations are at an increased risk of falling victim of a data breach. The Internet of Things is a real and ever-increasing cyber threat to businesses and institutions, deteriorating their vulnerability to cyber attacks by adding more endpoints that hackers can use to gain access to networks, and by making it easier for hackers to spread malicious software throughout networks at a faster rate.
The Internet of Things is one of the factors that make DDoS attacks more possible and more easily conducted, and these types of attacks can have a significant and long-lasting impact on organizations, both in terms of financial losses and reputation damage.
Private entities and government institutions that are part of the critical infrastructure in their countries are under a constant threat of different types of attacks by hostile nations. As the number of channels and methods that stand at the disposal of hackers aiming to gain access to computer networks grows, organizations in the public and private sector are facing a growing risk of cyber attacks sponsored by nation-states that might have an interest in damaging the critical infrastructure of other countries, hurting their economies, obtaining top-secret information, or getting the upper hand in diplomatic disputes.
Most commonly, nation-state-sponsored cyber attacks use malware, such as ransomware and spyware, to access computer networks of organizations, as a means of gaining control over certain aspects of the critical infrastructure of another country.
No matter what types of attacks are common today, the number and level of sophistication of cyber threats to organizations are certainly going to grow in the future, which is why they have to constantly update and adjust their cyber defenses accordingly.
The WannaCry ransomware attack sent shockwaves through businesses and governments all around the globe by bringing day-to-day activities in hospitals, banks, telecommunication operators, and local and state agencies to a grinding halt. Undoubtedly, this attack put a big spotlight on ransomware, highlighting it as a powerful, dangerous, and potentially life-threatening attack methodology exploited by cyber criminals as a means for quickly making significant financial gain. Recently, however, another method has emerged as an increasingly common tool for cyber extortion, one that is expected to gain much more traction in the near future.
The emerging threat in question is doxing and involves attackers obtaining confidential, proprietary, sensitive, or private information via social media or hacking, and threatening to publicly share that information if ransom is not paid. There have been a few notable doxing events in recent years involving hacker attempts to extort large corporations, with Walt Disney Pictures emerging as the latest victim. In another high profile case involving cyber extortion, hackers are today threatening to release a stolen upcoming blockbuster film, in advance of its premiere, unless they receive a pirate-like ransom of bitcoins in return. With doxing becoming a go-to modus operandi for an increasing number of cyber criminals, organizations seeking to safeguard their proprietary information need to become more aware of the threat doxing represents and implement solutions to protect against these extortion attacks.
Improve the Ability to Identify Doxing Attacks Quickly
Beyond implementing layered preventative and detective security controls, efforts for defending against doxing attacks should include devising a proper cyber incident response plan, preferably one established within the framework of a cyber-security automation and orchestration platform. Through the adoption of such a platform, organizations would address the first and most important part of the process for tackling doxing threats – being prepared to quickly and effectively respond to the attack.
A cyber incident response platform provides organizations with automation and orchestration capabilities through integration with existing security infrastructure and structured response playbooks. This level of preparedness vastly improves their ability to detect, track, and recover from doxing attacks. By providing a consistent and repeatable response strategy, a better prepared organization can reduce or even completely avoid the potentially substantial and damaging impact of a successful extortion attempt.
This platform allows cyber-security teams to detect, predict, and track breaches in their organizations’ computer systems, and to respond quickly and inline by leveraging integrations with existing security infrastructure. The inline response reduces overall reaction times and allows for quick containment and eradication of the threat.
The platform dramatically accelerates the incident triage and response process to improve efficiency, and can even integrate with an organization’s forensic systems, allowing for fast and efficient gathering of digital evidence to help identify attackers and support subsequent law enforcement efforts.
By leveraging the full capabilities of a cyber-security automation and orchestration platform, organizations would be able to more quickly determine the scope and impact of extortion attacks, respond accordingly, and provide authorities with the information necessary to accelerate their investigation. Collectively, leveraging these capabilities would ensure an increased chance for resolving and recovering from the incident without succumbing to ransom demands.