The digital landscape is constantly evolving with a wide range of threats, each more sophisticated than the last. While major corporations often make headlines for falling victim to cyberattacks, small to medium-sized companies are also at risk. It’s not a matter of if your company will be targeted, but rather when it may happen.
The list below highlights some of the most prevalent threats today. Developing a robust cybersecurity strategy is essential for all businesses, but it’s a process that takes time and careful consideration. By familiarizing yourself with the various types of cyber threats, you can identify where your company is most vulnerable and proactively strengthen your defenses.
Understanding Current Cyber Threats
Malware
Malware, known as malicious software, is any program or code designed to cause harm to a computer, network, or server. You probably recognize the most prevalent forms like ransomware, spyware, viruses and trojan horses. Believe it or not, there are many more! These malicious software attacks exploit vulnerabilities in software to carry out their harmful intentions.
Denial-of-Service (DOS)
Denial-of-Service (DoS) attacks aim to disrupt the normal functioning of a targeted server, service, or network by overwhelming it with a flood of traffic. The primary goal is to make the targeted system unavailable to its intended users. While they typically do not lead to data loss, they do consume valuable time, financial resources, and efforts to restore critical business functions.
The distinction between DoS and Distributed-Denial-of-Service (DDoS) attacks lies in the attack’s origin. While DoS attacks stem from a single system, DDoS attacks are orchestrated from multiple systems, making them quicker and more challenging to thwart due to the need to identify and neutralize multiple sources simultaneously. Not to mention, both types of attacks can put a very public blemish on your brand.
IoT
An IoT attack targets IoT devices or networks, allowing hackers to seize control, steal data, or enlist infected devices in a botnet for DoS or DDoS attacks. With the rapid growth of connected devices, IoT infections are on the rise, especially with the upcoming deployment of 5G networks encouraging more device usage and potentially increasing cyber threats.
Supply Chain
Supply chain attacks involve compromising a system or network by targeting vulnerabilities in the supply chain of software or hardware components. These attacks can affect any stage of the supply chain, from development to distribution, and often exploit third-party vendors or service providers to gain access to a larger target. Some likely targets are third-party APIs, open-source code and proprietary software from vendors.
Code Injection
Code injection attacks occur when an attacker inserts or “injects” malicious code into a vulnerable application or system, causing it to execute unintended commands or queries. This can lead to unauthorized access, data theft, or other harmful outcomes. The most common occur in SQL, Command, XML, LDAP and Cross-Site Scripting in website pages.
DNS Tunneling
Tunneling is a method of encoding data within DNS queries and responses to bypass network security measures or to exfiltrate data. DNS (Domain Name System) is typically used for translating human-readable domain names into IP addresses, but due to its widespread use and generally open nature, it can be exploited to carry hidden data.
AI & ML
As AI (Artificial Intelligence) and ML (Machine Learning) technologies advance, the range of applications continues to grow. While cybersecurity professionals harness AI and ML to safeguard their digital realms, threat actors also exploit these tools to breach networks and pilfer confidential data.
The Human Factor
These next four items are extremely common exploitation of the human element. They strongly underscore the need for creating employee cyber policies and continuous cyber awareness training.
Phishing
Phishing is a cyberattack method that cunningly uses various channels like email, SMS, phone calls, social media, and social engineering tactics to lure victims into disclosing sensitive information such as passwords or account numbers. This deceptive scheme may also trick individuals into downloading malicious files that can infect their computer or phone with harmful viruses. This is usually done through fraudulent emails, messages, or websites that appear legitimate.
Spoofing
Spoofing is a deceptive identity-based attack whereby cybercriminals pose as familiar or trustworthy entities. By doing so, they can interact with their targets and infiltrate their systems or devices, aiming to pilfer information (like login credentials), demand ransom, or implant malicious software for harmful purposes. Distinguishing between the user’s usual behavior and the hacker’s actions becomes a complex task with traditional security measures and tools.
Social Engineering
Social engineering is a crafty method employed by cyber attackers to manipulate individuals using psychological tactics. By tapping into emotions such as love, financial gain, fear, and social status, these attackers can acquire sensitive information that can be used to either extort organizations and their employees or gain a competitive edge.
Employees
Focusing solely on external threats leaves half the battle unseen by IT teams. Insider threats, posed by internal actors like current or former employees, present a significant risk to organizations due to their direct access to sensitive data, company networks, and intellectual property. These individuals possess knowledge of internal processes, policies, and information that can be exploited for malicious intent. For this reason, cybersecurity awareness training is essential.
You Can’t Afford to Wait
Having a solid cybersecurity plan is crucial in today’s interconnected world. It plays a vital role in safeguarding your data and maintaining compliance. It will also serve to minimizing disruptions to your daily operations.
Additionally, implementing proactive strategies to tackle cyber threats not only bolsters your security measures but also shields your brand from the negative impacts of cyber incidents, particularly those that put sensitive customer information at risk.
Don’t Try It Alone
The reality is most IT teams don’t have the manpower or expertise to put a solid cybersecurity strategy in place nor manage it around the clock. To streamline this process, it’s wise to collaborate directly with cybersecurity experts. However, with the diverse array of cyber threats out there, the market is flooded with a multitude of providers.
At My Resource Partners, we have access to top-tier cybersecurity solution engineers nationwide. We provide a comprehensive FREE Cybersecurity Assessment to kickstart the process. Following this assessment, our team will work alongside yours to develop a practical Cybersecurity Roadmap tailored to your company’s specific needs and priorities.
Once your roadmap is in place, we’ll swiftly connect you with cybersecurity providers that align with your requirements and budget. We’ll facilitate consultations and demos, empowering you to make informed decisions with confidence.
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