Understanding Cybersecurity Threats and How to Prevent Them
Cyber Security threats are the various risks and dangers that pose a threat to computer systems and digital information. There are many types of cyber threats, such as ransomware, phishing attacks, and malware. Before understanding these security threats, it is important to know the motivating factors behind them. Cyber criminals can be driven by financial gain, espionage, or political motives. These criminals take advantage of the weaknesses in a software and networks to unlawfully access data, disrupt operations or inflict harm. By understanding these techniques that cyber attackers use, firms can put protective measures into place that mitigate risk to their data and systems.
Common types of Cyber Security threats –
Ransomware
Cybercriminals develop ransomware to encrypt files or block access to a computer system until a sum of money is paid. It is particularly problematic because the attacker has the decryption key. Therefore, it will be impossible for the individual to access their files without the hacker decrypting them. The ransom amount is tailored to match the scale of the target, this can range from a few hundred pounds to millions for large corporations. There is no guarantee that if the ransom is paid, the attacker will decrypt your files. However, in a strange way, it is in the attacker’s interests to develop a good reputation for following through with their promises. Without this credibility, there is little incentive for future victims to pay their ransom.
Phishing Attacks
Phishing is any attempt to obtain information or money through fraudulent means. These emails will mimic an email message from a trusted source such as an individual or a large corporation (Google or Amazon etc). They create a sense of urgency for the victim to prevent a fraudulent charge or their email account being closed. Once they go to log in, their data will have been stolen and used to hack into accounts or make fraudulent purchases. The scam pages in these emails typically contain misspelled URLs.
Malware
Malware is the abbreviation of malicious software. Typically, the victim is completely oblivious to the fact that their system has been compromised. The software was developed by cyber attackers to cause damage to a computer or network. It operates in a similar capacity to a computer virus. Some of the visible symptoms of a malware infection are a computer slowing down, annoying pop-up ads, and regular system crashes.
Impacts of Cyber Attacks –
Data Breaches
- Confidential data such as personal information or proprietary knowledge, resulting in identity theft or competitive disadvantage.
Financial Loss
- Cyber-attacks can lead to financial losses. This could be in the form of disruption to business operations, theft of funds and fraudulent payments.
Legal Consequences
- If an organisation has failed to sufficiently protects data, they could face legal punishment.
Damaged Reputation
- If an organisation is attacked, trust may be lost by their clients and suppliers, and their relationship may not be.
Measures to prevent Cyber-Attacks
Using Strong Unique Passwords
- Making sure that every password is complex. This means that it includes capital letters, lowercase letters, numbers, and special characters.
Maintaining Latest Updates
- Systems and applications will be regularly updated to ensure that the latest security patches are utilised.
Being Careful of Suspect Links or Emails
- Not opening emails from unrecognised senders. Even if the company is legitimate, you should always proceed with caution when asked for sensitive information. Poor spelling or grammar should be an immediate red flag.
Enabling Two-Factor Authentication
- Two-factor authentication adds an additional layer of protection against cyber-attacks. It does this by requesting an additional code sent from either an email address or a phone number on top of the initial password.
The Future of Cyber Security
AI (Artificial Intelligence)
People perceive AI as both a risk and an asset depending on how they use it. The software will be able to identify and respond to cyber-attacks with more efficiency. However, as with any software tool, cyber-attackers will also be leveraging this software to automate attacks. It’s a bit of a double-edged sword, there is the potential to revolutionize cyber security by enabling real-time threat detection and response. At the same time, malicious attackers can manipulate AI to carry out attacks on a much larger scale and faster than ever before.
Quantum Computing
The development of quantum computers may render current encryption methods obsolete, requiring the development of new security measures. It is estimated that it might take 10 years before fully operational quantum computers are available. This has forced lots of firms that are heavily reliant on cryptographic algorithms, to invest in quantum safe alternatives. If these security measures are not ready in time, we could see a systemic collapse of all digital systems.
Conclusion
Cyber threats pose a significant risk to our computer systems and digital information. It is important for us to understand the motivations behind the attacks and put the preventative measures in place to safeguard data and systems. Looking to the future, AI and quantum computing will present us with both new challenges and opportunities. It is vital that organisations stay informed of emerging technologies and proactively protect their digital assets. By adopting the best practices, we can collectively work towards a safer and more secure digital landscape. If you would like to find out more ways to protect yourself online, UpGuard have a great blog identifying the 10 best practices. If this interests you please visit, 10 Ways to Reduce Cybersecurity Risk for Your Organization | UpGuard.