Cyber Threats Are On The Rise: National Cybersecurity Awareness Month Spotlight
National Cyber Security Awareness Month is upon us, and it's a timely reminder that the digital world can be scary if businesses are not protecting critical systems and sensitive information from digital attacks using a combination of technology, people, and processes.
Cyber attacks hit businesses every day. Cabco's Director of Managed IT Solutions, Terry Yuill, says, "We can broadly categorize companies into two groups: the ones that have already faced a cyber breach and those who might not even be aware that they've been through one. It's a bit of a reality check for all of us in today's digital age."
According to Check Point Research, Q2 2023 saw an 8% surge in global weekly cyberattacks, with organizations facing an average of 1258 attacks per organization per week.
Unfortunately, only 38% of global organizations claim that they're prepared to handle a sophisticated cyber attack.
Understanding the most common cyber-attack types is essential for recognizing potential threats and taking appropriate measures to protect your team and business. In this article, we will delve into some of the most common cyber threats and learn how to defend against each one.
Unpacking The Most Common Cyber Threats
Phishing Attacks
Phishing attacks employ social engineering tactics where attackers send deceptive emails and messages or create fake websites to trick individuals into revealing sensitive information. According to this Sentinel One article, phishing is the second most common cause of breaches, accounting for 70% of ransomware attempts.
In its most basic form, phishing scams use deceptive emails or text messages to illicitly obtain users' credentials, exfiltrate sensitive data, or spread malware. These fraudulent messages are cleverly designed to mimic genuine sources. They typically coerce the target into clicking a hyperlink that ultimately redirects them to a malicious website or persuades them to open an email attachment that, unfortunately, serves as a conduit for malware. The aftermath of clicking on these links can lead to identity theft, financial losses, or even unauthorized access to personal or company accounts.
Recommended defence: To defend against phishing, enrolling employees in Cybersecurity Awareness training is paramount.
Phishing accounts for 70% of ransomware attempts.
Strengthen your security strategy and address human vulnerabilities effectively with Cabco’s cyber security training.
2. Malware Attacks
Malware is malicious software that can render infected systems inoperable. Malware can destroy data, steal information, or even wipe files critical to your operation system’s ability to run. Malware comes in many forms, including:
• Trojan horses: Disguise themselves as helpful software or hide within legitimate applications to trick users into installation. Remote access Trojans (RATs) create secret backdoors on victims' devices, while dropper Trojans install additional malware once they gain access.
• Ransomware: Uses strong encryption to hold data or locks users out of their system until a ransom is paid. Regularly backing up files, implementing strong security measures, and exercising caution with emails, attachments, and links can help prevent or mitigate ransomware attacks.
• Scareware: Uses fake messages to scare victims into downloading malware or disclosing sensitive information.
• Spyware: Secretly gathers sensitive information, like usernames, passwords, and credit card numbers, and sends it to the hacker.
• Rootkits: Allows hackers to gain administrator-level access to a computer's operating system or other assets.
• Worms: Self-replicating malicious code that can spread automatically between apps and devices.
Recommended defence: To defend against malware attacks, have an End Point Detection and Response (EDR) installed.
3. Denial of Service (DoS) & Distributed Denial of Service (DDoS) Attacks
Denial-of-service (DoS) and distributed denial-of-service (DDoS) attacks flood a system's resources with fraudulent traffic. This traffic overwhelms the system, preventing responses to legitimate requests and reducing the system's ability to perform. A denial-of-service attack may be an end or a setup for another attack.
Recommended defence: To defend against denial of service attacks, implement a firewall and traffic monitoring.
4. Man in the Middle (MitM) Attacks
In a man-in-the-middle (MiTM) attack, also called an 'eavesdropping attack,' a hacker secretly intercepts communications between two people or between a user and a server. MitM attacks are commonly carried out via unsecured public Wi-Fi networks, where it's relatively easy for threat actors to spy on traffic.
Hackers may read users' emails or even secretly alter them before reaching the recipient. In a session hijacking attack, the hacker interrupts the connection between a user and a server hosting essential assets, like a confidential company database. The hacker swaps their IP address with the user's, making the server think they're a legitimate user logged into a legitimate session. This gives the hacker free rein to steal data or otherwise wreak havoc.
Recommended defence: To defend against man-in-the-middle attacks, encrypt communications, use secure networks, and implement email security.
5. Password Theft/Harvesting
Password attacks focus on gaining unauthorized access by exploiting weak or stolen passwords. To prevent these attacks, use a password manager, employ strong, unique passwords for each account, and apply multi-factor authentication (MFA).
Recommended defence: To defend against password thefts, use a password manager, employ MFA, and use strong, unique passwords.
Don’t make the same mistake.
Have a combination of at least 12 letters, numbers and characters to make your password a strong one.
6. Insider Threats
Insider threats originate with authorized users—employees, contractors, business partners—who intentionally or accidentally misuse their legitimate access or have their accounts hijacked by cybercriminals.
Among the companies surveyed in the 2022 Ponemon Cost of Insider Threats Global Report, most insider threats—56 percent—resulted from negligent insiders.
Recommended defence: To defend against insider thefts, implement strong access controls, monitor users' activities, and promote a culture of security awareness.
7. Deepfake
Deepfakes use AI to create synthetic media, manipulating videos or images for malicious intent. Being skeptical, practicing media literacy, verifying media authenticity, and staying informed about detection tools are essential for avoiding deepfake content.
Recommended defence: To defend against deepfakes, practice critical thinking, media literacy, and verification of media authenticity.
Defending Against Cyber Threats
The best way to combat cyber threats is through proactive measures. Preparation is key to prevention. Here's a summary of preventive actions for various cyber threats:
Take the Next Step
The constantly evolving cyber threat landscape presents an ongoing challenge to individuals, businesses, and governments worldwide. The increasing frequency and sophistication of attacks emphasize the need for robust cybersecurity measures and heightened awareness.
There's no better time to review your company's cyber security threats and to implement a detection, prevention, and remediation plan than during National Cyber Security Awareness Month.
Cabco’s Cyber Security Solutions makes it easy to remediate threats faster while maintaining your bottom line. We prioritize high-fidelity alerts to help you catch threats that others miss.
Let us help your business take the next step in protection. Contact the Cabco team today.
Ahona Saha
Marketing Assistant
Cabco Communications
