8 Threats That Could Sink Your Company
Security researchers warn of both new and re-emerging threats that can cause serious harm.
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Big distributed denial-of-service (DDoS) attacks are back this year, along with Layer 7 application attacks and the first-recorded IPv6 attacks.
According to Neustar's recent report, "The Changing Face of Cyberattacks," the overall number of DDoS incidents is up, as is the number of companies hit more than once. All DDoS attacks have a common goal: to exhaust network bandwidth, server resources, or applications in such a way that legitimate users cannot access a site.
What else should organizations be on the lookout for? Symantec's "Internet Security Threat Report" and recent research from Trend Micro pinpoint additional threats.
IPv6 has been slowly making its way into the mainstream as IPv4 addresses have become exhausted, Neustar's Willett points out. But many security tools may not be configured properly because not enough IT workers have experience with IPv6. This lets attackers leverage misconfigured systems, generating malicious IPv6 traffic that contributes to DDoS attacks. While IPv6 has limited reach today, adoption has expanded and most mobile devices and PCs support it. That means when IPv6 addresses used in amplification attacks ramp up, the devices will be hit hard, Willett says.
Threats on mobile devices will continue to grow, according to Symantec's Wueest. In 2017, there was a 54% increase in the number of new malware variants alone, and it's not just the volume that's increasing. Attackers have developed new methods of infection and tricks to remain on compromised devices as long as possible. They've also come up with a variety of ways to generate revenue from devices, from ransomware to cryptocurrency mining. But as the attacks continue to evolve and mature, Wueest says the same can't always be said of mobile users, many of whom continue to make life easy for attackers by using older operating systems. For example, on Android devices, only 20% of users are running the newest major version. Security pros at companies are well-advised to make sure users update their work devices as well as personal smartphones.
As companies undergo digital transformation and automate processes with artificial intelligence and machine learning, new technical and systemic vulnerabilities will emerge, ready to be exploited, says Ed Cabrera, chief cybersecurity officer at Trend Micro. For example, as companies continue to automate, process vulnerabilities around the supply chain will free up opportunities for cybercriminals to make large sums of money, he says. In many ways, the same players, such as nation-state groups and cybercriminal organizations, will be the culprits, but the context will change, Cabrera adds. As legitimate businesses gain access to automated tools, so will the bad guys. Cabrera warns that attackers will continue to innovate, automate, and build more capacity as they collaborate in cybercriminal undergrounds.
Business email compromise (BEC) attacks have expanded over the past few years, with the identified exposed losses increasing by $10.8 billion since 2015 to more than $12 billion in 2018, Trend Micro's Cabrera says. The combination of simplicity and effectiveness has ensured that BEC will continue to be one of the most popular attacks, especially for criminal organizations that lack special tools and knowledge to pull off more complicated schemes, he adds.
The attacks manifest themselves in two ways: One, cyberattackers conduct social-engineered credential phishing attacks using keyloggers and phishing kits to gain access to corporate webmail accounts to identify corporate leadership and monitor communications. In a second scenario, the attackers send an email that impersonates, for example, a vendor or corporate officer to someone in the finance department of the victim company. The attackers carefully design the email to make it look as if the vendor or corporate officer sent it, typically instructing the victim to transfer money to pay an invoice or to send large sums of money overseas.
Business email compromise (BEC) attacks have expanded over the past few years, with the identified exposed losses increasing by $10.8 billion since 2015 to more than $12 billion in 2018, Trend Micro's Cabrera says. The combination of simplicity and effectiveness has ensured that BEC will continue to be one of the most popular attacks, especially for criminal organizations that lack special tools and knowledge to pull off more complicated schemes, he adds.
The attacks manifest themselves in two ways: One, cyberattackers conduct social-engineered credential phishing attacks using keyloggers and phishing kits to gain access to corporate webmail accounts to identify corporate leadership and monitor communications. In a second scenario, the attackers send an email that impersonates, for example, a vendor or corporate officer to someone in the finance department of the victim company. The attackers carefully design the email to make it look as if the vendor or corporate officer sent it, typically instructing the victim to transfer money to pay an invoice or to send large sums of money overseas.
Big distributed denial-of-service (DDoS) attacks are back this year, along with Layer 7 application attacks and the first-recorded IPv6 attacks.
According to Neustar's recent report, "The Changing Face of Cyberattacks," the overall number of DDoS incidents is up, as is the number of companies hit more than once. All DDoS attacks have a common goal: to exhaust network bandwidth, server resources, or applications in such a way that legitimate users cannot access a site.
What else should organizations be on the lookout for? Symantec's "Internet Security Threat Report" and recent research from Trend Micro pinpoint additional threats.
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