Cybercrime: a clear and present danger

In 2021, it seemed that cybercrime had become more expensive for businesses and individuals. The cost of data breaches has increased significantly in recent years. On average, each incident resulted in a 10% cost increase. In 2019, breaches averaged $3.86 million, but 2021 proved that data breaches are more expensive than ever, costing businesses $4.24 million, up from $3.86 million in 2020, on average, according to IBM. Cost of a data breach 2021 report.

There have been cases of major data breaches and hackers infiltrating their servers to steal company files or money.

For example, it is important to note that all the previously mentioned costs incurred over the life of an organization are always a relevant starting point for effective data. protection. It should also be kept in mind that one of these costs – the likelihood and cost of litigation – has also recently seen an astronomical increase.

Cybercrime problems did not appear until 2022.

So what are the emerging cyber risks and threats?

As we monitor recent trends in cyberattacks, one of the most alarming revelations is that most companies don’t take security seriously. The side effects of a possible global pandemic have begun to spread at an alarming rate. As more and more people are affected by the daily threat to their security, vast amounts of data are being collected from people around the world on systems such as mobile and IoT devices that hackers rely on to target larger organizations with ransomware.

Whether it’s the blocking of more than 13 billion suspicious emails, targeted attacks on ICRC servers (disclosure of information on the data of more than 500,000 people worldwide), collective sightings of big game hunting ransomware or recent DDoS attacks on Ukrainian banks and government sites characteristic of hybrid warfare. .

From the days of the unbelievable Colonial Pipeline ransomware emails from the Nigerian Prince and the cyberattack incidents in Ukraine, the dawn of the new internet era and the widespread reliance on technology by businesses and consumers, there has been had an escalation in the clear and present danger of cybercrimes staged by organized crime syndicates, hacktivist groups, government agencies, etc.

The number of BEC attacks is on the rise and healthcare providers are being taken for money, but they are also putting patients’ personal information at risk.

Cybercriminals look a lot like trained assassins. They can both carry out their missions very efficiently. Yet you will notice that cybercriminals tend to be more resourceful in achieving their goals as attacks become more sophisticated.

It goes without saying that these malicious actors (in tandem with cyberattacks as a service) are akin to business people; they show a clear preference for certain techniques and interests, with noticeable shifts in their attack tactics, such as how they know exactly what they want out of individual incidents and how to achieve this by targeting technologies newly vulnerable (credential harvesting and IoT devices, etc.).

So what are the cybersecurity issues plaguing this endless incident?

Although there are many forms of cybersecurity and data issues

  • The organization that is not security conscious and
  • The organization that does not see a breach coming

Four sophisticated trends in cyberattacks

Take a look at some of the top trends in cybersecurity attacks that could trigger new, sophisticated threats.

  1. Ransomware Extortion

    The popularity of ransomware has quickly eclipsed criminal acts involving the extortion of ransom from individuals, businesses, and even governments.

    Ransomware threats are gradually evolving and becoming more sophisticated. Targeted organizations experience time-consuming and costly delays due to the inability to access their systems or data.

  2. AI and machine learning

    Cyber ​​attackers use advanced tools to help them launch various types of cyber attacks. They perform reconnaissance on a target or business using artificial intelligence and machine learning to automate various attack steps. The Emotet malware-based phishing campaign used ML, which boosted its effectiveness.

    By automating the process of finding and sending personalized phishing emails that were also automatically connected to previous attacks, they could launch more cautious email threats into a whirlwind of deception.

  3. The Internet of Things (leading to the loss of personally identifiable information (PII))

    The IoT is making progress in terms of popularity. Yet it also garners a lot of negative press because cybersecurity experts discuss their unease and amazement at the new technology’s direct risk to cybersecurity.

    For example, “Has anyone ever stopped to think that hackers can use smart fridges and kettles to gain access to networks?”

    From there, we could have potentially dangerous cybercrimes in which hackers gain access to our valuable data on different devices like computers or phones.

  4. WFH, Cloud Data and the Widening Surface of Cyberattacks

    As we increasingly work outside the office building, more and more people are often working remotely. This has created new challenging cyberattack surfaces due to the increased use of public clouds, highly connected supply chains, etc.

So what is the way forward?

Hackers are incredibly resourceful in so many ways. They are working hard to find ways to infiltrate data files and devices, and you will probably face a cyberattack soon as a business owner. You’ll want to make sure you have the right security systems in place so hackers can’t gain access to your facility’s network.

In 2022, virtually every business can expect to face sophisticated attacks that target every part of their IT infrastructure, especially where they are vulnerable.

So what can you do to stay proactive?

To respond to a cyber threat in the modern era, you need to be able to respond quickly to threats that strike your entire network infrastructure. One proactive way is to strengthen your first line of defense using web application firewalls like AppTrana WAF.

The Web Application Firewall (WAF) is like your own immune system. It is the first line of defense between you as an online user and the outside threats, smells, sounds and even sensations that are sometimes harmful to your business. WAFs operate around the clock to protect an application from malicious actors, botnets, and malicious traffic that could otherwise damage or harm your product.

Comments are closed.