Top 5 Cyber ​​Threats and How to Prevent Them

Cybercrime is prominent and will continue to evolve in a growing landscape of cyber threats. As organizations scale, the risk increases with their reliance on cloud-based systems, a growing global workforce, and attackers’ more sophisticated social engineering tactics. Security professionals are not only challenged to solve these problems, but are also tasked with providing educational training and cybersecurity awareness programs.

Here are the top five cyber threats still plaguing organizations today, and how security teams can prevent cyber attackers from invading critical business data.

Broken access control – the biggest cyber threat

Broken access control remains a major problem for organizations. Consent routes must be defined because when users access more information than intended for their role, private data is exposed, which can ultimately lead to a breach of confidentiality. According to the Open Web Application Security Project (OWASP) 2021 reportbroken access control is listed as the number one threat, rising in the ranking from fifth in the 2017 report, making it one of the top five most common vulnerabilities.

Zero trust is more than a buzzword: it’s how organizations should operate their security systems. Malicious or not, every employee has the ability to expose company data, posing a potential threat to the organization. The solution is for security leaders to conduct thorough data authorization audits and routinely check that the information flow is in the right hands – and if not, restore permissions in every department.

Phishing attacks and social engineering hacks

Phishing is a common type of social engineering attack. Malicious actors manipulate the end user using emotions, such as fear and urgency, to prey on their receptive nature. This includes soliciting donations from bogus websites and updating bank or streaming service credentials. According to a recent report on email hazardsfrom January to June 2022, there was a 48% increase in email phishing attacks.

As remote working becomes the norm, malicious actors are becoming more sophisticated in their phishing attack strategies and tactics. The most common ones we see today are fake shipping updates, care appointment reminders, and inquiries from bosses or colleagues to trick people into giving them login credentials or personal or financial information. The best way to prevent these cyberthreats and protect vital information is through cybersecurity education.

Compliance drops in security

The shortage of talent among security professionals leads to weakened security attitudes. Unfortunately, the risk continues to increase as organizations lay off employees, including members of their security teams. Many organizations perform penetration testing just to tick the box during mandatory compliance audits. However, if routine pen testing is not implemented between these compliance cycles, it increases the risk of a security breach. There may be periods when organizations do not know they are fully protected, resulting in security gaps.

With security teams smaller than ever, automation is key to closing this gap – and there are tools to enable faster, more targeted security testing. For example, smaller, ad-hoc pen testing enables organizations to shift security to the left in the CI/CD pipeline and accelerate their DevSecOps journeys. Resilient to test allows organizations to test specific product updates or smaller areas within a security system.

To minimize risk and increase remediation efforts, security teams must proactively identify and remediate security gaps through consistent testing.

internet of things

Connectivity and data exchange via the Internet of Things (IoT) opens up a whole new opportunity for malicious parties to expose private information. IoT architecture is closely intertwined with our personal lives; it includes everything from home appliances to industrial and manufacturing tools.

With the European Union (EU) legislation With strict cybersecurity mandates proposed by 2024, companies with IoT products abroad are struggling to comply with regulations. As with the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), it is only a matter of time before the US approves mandates for IoT organizations to strengthen their cybersecurity.

Consistently updating software and firmware is essential to prevent attacks and patch vulnerabilities. Companies using IoT firmware devices can inform their employees about the importance of software updates and let them know that it is also their personal responsibility. In addition, strong password protection and frequent password changes help avoid insecure default settings that can lead to distributed denial of service (DDoS) attacks. Password protection isn’t foolproof, but using different passwords for each device and regularly changing passwords to make them more complex can help deter attacks.

Ransomware-as-a-service

Pay-for-use malware, more commonly known as ransomware-as-a-service (RaaS), is a growing threat in organized cybercriminal gangs. Their polished strategies and business models are part of a malicious operating system. Last year, Vice Society, a cybercrime group, attacked the Los Angeles Unified School District. After failing to receive a ransom, they leaked 500 GB of private data belonging to students and teachers. According to a recent Sophos study, the average cost to recover from a ransomware attack in 2021 was $1.4 million, a price tag most organizations cannot afford.

Digital transformation has accelerated in recent years, along with ransomware technology and methods. With the shift to cloud computing, these bad guys now have global reach, taking advantage of vulnerable organizations that are still configuring their security systems.

The best way for organizations – large and small – to strengthen their IT and security infrastructure and prevent ransomware attacks is through continuous testing, monitoring, and deploying insights from ethical hackers.

Conclusion

News headlines about cyber-attacks are rife and the severity of attacks continues to increase, so it’s up to each individual to strengthen their organization’s security posture through education, awareness and training. As technology advances, cybersecurity threats will invade new media, but many of the threats will remain basically the same. Being prepared and operationally resilient requires consistent evaluation of processes, people and systems. By leveraging insights from ethical hackers, introducing routine testing and leveraging automation, organizations can be better prepared for potential threats.

Jay Paz is senior director of pentest advocacy & research at Cobalt.