The active transformation to a digital model is increasingly affecting various sectors of the economy, including not only trade and services, but also transportation and industry. This dynamic process brings with it another visible phase in which automation and massive data analysis play a key role. However, with these advances also comes an increasing risk of abuse by cybercriminals. Not so long ago, the only major threat to an entire business was a natural disaster, but today, hacking attacks alone can cause major disruptions to a company’s operations.
Ransomware
Ransomware is a type of malware that encrypts important files on local and network drives and then demands a ransom to decrypt them. Hackers create this type of software to extort money through blackmail. Ransomware works in an encrypted manner, meaning that the decryption key cannot be obtained directly, and the only way to recover data is to restore it from previous backups. The way ransomware works makes it extremely damaging. Other types of malware may damage or steal data, but they do not prevent access to it. Ransomware, on the other hand, makes data recovery difficult if the targeted person or institution does not have backups.
Phishing
Although phishing attacks come in many forms, the most common and easily recognized is email phishing. However, it has become more sophisticated with the emergence of its various variations, such as spear phishing, whaling and laser attacks. In addition, phishing methods have spread from email programs to communication platforms such as text messaging and social media. The following are different types of phishing attacks:
- Phishing e-mail: An e-mail containing a link designed to make a user curious or alarmed. The goal is to get him or her to click on the link.
- Vishing: A hacker calls a landline, cell phone, or VoIP service and tries to lure the user into a conversation.
- Smishing: The criminal sends a text message asking the user to click on a link or call the sender back.
- Pharming: Manipulating the victim by providing a spoofed URL that is copied and pasted directly into the browser address bar, leading to a spoofed website. This type of attack involves hijacking the local DNS cache, which redirects the user to the desired site. The spoofed link leads to a fake website.
- Spear phishing: The hacker sends a specially crafted email to a specific organization or individual, most commonly executives or employees of financial departments.
- Whaling: Whaling is similar to spear phishing, but mainly targets individuals in top corporate positions.
Data leakage
A data leak is a situation that can occur when confidential or sensitive information, such as personal or business data, is disclosed without authorization to people or entities that should not have access to it. Such a leak can be caused by both internal errors and careless user behavior. Common causes include poor security and mishandling of data, outdated software, old and unsecured equipment, or lack of proper employee training. Data leaks can lead to various types of cybercrime, such as compromising the security of business correspondence. Early detection and remediation can significantly reduce the risk and impact of such leaks. This is important because it is difficult to determine whether data has already been leaked to unauthorized parties, which means that sensitive information, source code, customer data, marketing strategies, etc., could be used to spy on or harm a company.
How does data leakage occur? Poor infrastructure, social engineering scams, weak passwords, lost devices, underdeveloped and outdated software, and outdated data.
Disadvantages of the cloud
One of the main disadvantages of storing files in the cloud is the issue of security. In theory, cloud data encryption should ensure that no one can access our files and invade our privacy. Service providers boast of various types of encryption that are supposed to keep our data safe. Unfortunately, in practice, this can be worse, because if someone really wants to, they can gain access to our data. This can happen by stealing our passwords (and we often unwittingly expose ourselves to online attacks) or by hackers using their cybercrime skills.
In addition to the aforementioned cases of data destruction or failure, there is also the risk of the physical servers on which our data is stored in the cloud. Although such a situation is rare, even extremely rare, for example, as a result of a plane crash, there is a theoretical possibility that physical servers could be destroyed or fail. However, it must be emphasized that in order to irretrievably lose data stored in the cloud, all physical servers that store backups of our data would have to fail or be destroyed. The chances of such a simultaneous disaster are practically zero. However, if we are looking for something to attach to, we can say that such a theoretical situation is possible. Another disadvantage of storing files in the cloud is the need to have access to the Internet in order to use them. While this is obvious, not having access to the network means not having access to our files. In conclusion, data security in the cloud is a controversial issue, but keep in mind that most cloud providers use advanced security measures and backups to minimize the risk of data loss.
Finally, there are some limitations to storing files in the cloud, such as the need for Internet access and possible problems related to connection speed and infrastructure and software failures. Despite these drawbacks, the cloud is still a convenient and popular storage solution.
Internal attacks
Insider attacks are actions typically taken by trusted users who have access to protected resources. As a result, they are extremely difficult to detect and contain. Many companies operating in cyberspace experience the negative effects of insider attacks. They have serious consequences. The costs associated with such breaches range from the value of lost resources to the loss of potential future profits for the company. Not only can these threats result in huge financial losses, but they can also result in the loss of trade secrets and competitive advantage in the job market.
Attacks on IoT
The Internet of Things (IoT), also known as the Internet of Things, encompasses both the process of connecting physical objects to the Internet and the creation of a network that connects those objects. The term “objects” refers to a wide variety of devices, including everyday devices such as home automation and fitness watches, as well as medical instruments, agricultural machinery, supply chains, industrial robots and traffic lights on roads. The Internet of Things (IoT) is connecting billions of devices to the Internet, which means that it is necessary to secure an equal number of data points, each of which is a potential point of attack. By exploiting the vulnerability of a single point, a cybercriminal can gain access to all network data through tight connections between IoT devices. They can steal or even corrupt this data, rendering it unusable. As the number of connected devices and shared data increases, so does the risk of hacking and intrusion. This risk is compounded because users are often responsible for updating IoT devices to fix security vulnerabilities. Irregular updates make the system increasingly vulnerable.
The confidentiality of personal information is also a concern.
In addition to vulnerabilities, there are other drawbacks to IoT:
- Companies managing a largecollection of IoT devices face increasing challenges in collecting and managing data from across the IoT ecosystem.
There is currently no international compliance standard in this area
Supply chain attacks
A supply chain attack, also known as a third-party attack, value chain attack or backdoor attack, occurs when a hacker gains unauthorized access to a business network by using suppliers acting as third parties or by exploiting relationships in the supply chain. These types of attacks are particularly difficult to detect because of the wide range of relationships in supply chains. Companies often work with multiple suppliers that provide a variety of manufacturing components and materials, outsourced services, or specialized technology. As a result, proper supply chain protection is becoming a key element, and collaborating companies must ensure that appropriate safeguards are in place to minimize the risk of attack.
Cybersecurity is becoming increasingly important, as no one can be completely immune to threats. Individuals and companies alike have a responsibility to protect their data, personal information and identities online. The first line of defense against cyber attacks are client devices, which are the primary source of threats. The right tools are essential to building an effective protection system for both end users and IT professionals. Data encryption and the use of strong passwords along with strong authentication (e.g., security tokens such as TPM modules or biometrics such as fingerprint readers) are important steps in securing individual systems. In addition, tested and up-to-date antivirus software must be installed on every device. In addition, security awareness training plays an important role. It enables everyone to better understand the risks and take immediate action if an attack is detected. A comprehensive approach that combines these elements helps build a more robust defense against today’s cyber threats.
