Ransomware. Malware. Phishing attacks. Tech headlines are full of stories of the multitude of cyberthreats businesses face. Even so, every year seems to see new and reemerging cybersecurity threats, and some may be flying under the radar.
Whether because they haven’t had as wide an impact (yet) or because businesses and professionals have simply succumbed to “cybersecurity fatigue” and let their vigilance lapse, new and ongoing cyberthreats are being carried out successfully in today’s digital marketplace—sometimes with devastating impact. Below, 14 members of Forbes Technology Council discuss cyberthreats that may not be getting enough attention and why every organization with a digital footprint should be concerned.
1. Multi-Front Data Vulnerability
It’s important to keep in mind that most large enterprise organizations have data stored in multiple locations, leaving it vulnerable to attack on a variety of fronts—from cybercriminal activity and human error to fires and floods. Deploying proactive measures such as indestructible snapshots offers a critical layer of protection no matter where data is housed—before it’s too late to act. - Renen Hallak, VAST Data
2. Exploitation Of Publicly Available Information
Exploitation through publicly available information is a significant threat, yet nearly no one talks about it. Most of the attacks happen after a cybercriminal collects basic information such as an email address, phone number, Social Security number and so on. Tech leaders should be concerned and educate employees on how to manage their personal information on the Web. - Rabiul Islam, TechForing Ltd
3. Data Theft And Extortion
One type of attack that is not getting enough attention is extortion. While ransomware attackers’ tactics have been effective in recent years, an increasing number of organizations are backing up their data so they do not need to pay a ransom to restore it. Now, however, attackers’ methods have evolved. They first create a copy of an organization’s data and then threaten to release it publicly unless a ransom is paid. - Eric Cole, Secure Anchor Consulting
4. Customer Account Takeover/Business Email Compromise
Customer account takeover is an urgent cybersecurity threat. Hackers are no longer attacking high-value targets directly, but rather phishing their vendors and supply chain—entities that generally have poorer security controls—and then sending a legitimate email to the target from this compromised account. ATO is a form of business email compromise, which the FBI calls the “$26 billion scam.” - Edward Bishop, Tessian
5. APP Fraud
Harder to identify and prevent in real time, authorized push payment fraud is on the rise. Currently, regulations favor financial institutions, placing the liability on consumers. While many predict a change, placing banks on the hook for APP fraud will trigger significant additional losses. Tech leaders need to move fast to develop a plan to prevent hemorrhaging money, with early diligence being crucial. - Dave Excell, Featurespace
6. Expanding API Attack Surfaces
Application programming interfaces are core to interapplication communication, providing access to third-party verification and data sources. As the API attack surface continually expands with new applications, products and markets, securing APIs becomes increasingly critical to avoiding data breaches. As organizations continue to build out their digital operations, they need to make securing APIs a core operational tenet. - Shay Levi, Noname Security
7. Complex Tech Stacks
The reality of cybersecurity today is that business leaders have to contend with a high degree of complexity, from accelerated digital transformation and cloud adoption in support of an agile workforce to the dissolution of the traditional secure perimeter. It’s a situation compounded by the shortage of tech professionals with cyber skills, as well as the high volume of tools and providers needed when implementing cybersecurity strategies. - Arno Robbertse, ITC Secure
8. Shadow SaaS
The decentralization of tech purchases is a huge risk that most companies have not begun to understand. The huge software as a service marketplace allows any employee to purchase an application, often for free, and use it with company data, putting employees, customers and partners at risk. Though companies know about sanctioned applications, shadow SaaS is one of the biggest risks most companies are not securing adequately. - Lior Yaari, Grip Security
9. Poor Employee Cyber Hygiene Habits
Many major data breaches, including the Colonial Pipeline hack, have been the result of poor security hygiene in employees’ personal lives, such as reusing account passwords on work computers or accessing company applications from unknowingly compromised personal devices. More attention should be given to helping employees manage their personal security outside the office to address these vulnerabilities. - Hari Ravichandran, Aura™
10. Lax Security Protocols
The biggest security threats are inside your network. Whether it’s laxity, failure to monitor access and entitlements or not providing employees with optimized workflows, leading to insecure workarounds, it starts inside. Make following security protocols seamless by automating processes when possible, implementing a zero-trust framework and frequently communicating best practices. - John Milburn, Clear Skye
11. Man-In-The-Middle Attacks
Using Wi-Fi at any third-party location, such as a coffee shop or conference, can allow attackers to deploy a man-in-the-middle attack. Secretly, your communications can be intercepted and/or altered on their way to the recipient. With access to your data, the attacker can do any number of things. Tech leaders can protect their personnel with encryption security and VPN protocols. - Nicholas Domnisch, EES Health
12. Overly Permissive Cloud Entitlements
It’s important to understand that in the cloud, human and machine identities are the security perimeter. Many data stores are exposed to the internet and accessible by any identity with the right permissions. Visualizing and eliminating risky permissions in the cloud is a complex and dynamic process, but organizations must make it a priority. - Shai Morag, Ermetic
13. The Lack Of Spectrum Network Backups
On July 8, 2022, the Rogers Telecommunications internet and mobile phone network crashed across Canada, shutting most of the entire country out of digital access, including cellphone coverage, Web access, debit payments and even 911 calls. The main reason? There is no backup system in place to deal with a big problem. Regulators need to ensure that a backup exists or revoke spectrum licenses. - Blair Currie, Snibble Corp.
14. Unsafe IoT Devices
Cyberthreats to Internet of Things devices are getting attention from tech leaders and cybersecurity companies. However, if we want to be ready for the massive adoption of IoT, we should also be ready for subpar, unsafe devices to be produced on a massive scale. So we need to be very concerned about application programming interface vulnerability and the protocols for sharing data between devices and mobile apps. - Jacob Mathison, Mathison Projects Inc.
Whether because they haven’t had as wide an impact (yet) or because businesses and professionals have simply succumbed to “cybersecurity fatigue” and let their vigilance lapse, new and ongoing cyberthreats are being carried out successfully in today’s digital marketplace—sometimes with devastating impact. Below, 14 members of Forbes Technology Council discuss cyberthreats that may not be getting enough attention and why every organization with a digital footprint should be concerned.
1. Multi-Front Data Vulnerability
It’s important to keep in mind that most large enterprise organizations have data stored in multiple locations, leaving it vulnerable to attack on a variety of fronts—from cybercriminal activity and human error to fires and floods. Deploying proactive measures such as indestructible snapshots offers a critical layer of protection no matter where data is housed—before it’s too late to act. - Renen Hallak, VAST Data
2. Exploitation Of Publicly Available Information
Exploitation through publicly available information is a significant threat, yet nearly no one talks about it. Most of the attacks happen after a cybercriminal collects basic information such as an email address, phone number, Social Security number and so on. Tech leaders should be concerned and educate employees on how to manage their personal information on the Web. - Rabiul Islam, TechForing Ltd
3. Data Theft And Extortion
One type of attack that is not getting enough attention is extortion. While ransomware attackers’ tactics have been effective in recent years, an increasing number of organizations are backing up their data so they do not need to pay a ransom to restore it. Now, however, attackers’ methods have evolved. They first create a copy of an organization’s data and then threaten to release it publicly unless a ransom is paid. - Eric Cole, Secure Anchor Consulting
4. Customer Account Takeover/Business Email Compromise
Customer account takeover is an urgent cybersecurity threat. Hackers are no longer attacking high-value targets directly, but rather phishing their vendors and supply chain—entities that generally have poorer security controls—and then sending a legitimate email to the target from this compromised account. ATO is a form of business email compromise, which the FBI calls the “$26 billion scam.” - Edward Bishop, Tessian
5. APP Fraud
Harder to identify and prevent in real time, authorized push payment fraud is on the rise. Currently, regulations favor financial institutions, placing the liability on consumers. While many predict a change, placing banks on the hook for APP fraud will trigger significant additional losses. Tech leaders need to move fast to develop a plan to prevent hemorrhaging money, with early diligence being crucial. - Dave Excell, Featurespace
6. Expanding API Attack Surfaces
Application programming interfaces are core to interapplication communication, providing access to third-party verification and data sources. As the API attack surface continually expands with new applications, products and markets, securing APIs becomes increasingly critical to avoiding data breaches. As organizations continue to build out their digital operations, they need to make securing APIs a core operational tenet. - Shay Levi, Noname Security
7. Complex Tech Stacks
The reality of cybersecurity today is that business leaders have to contend with a high degree of complexity, from accelerated digital transformation and cloud adoption in support of an agile workforce to the dissolution of the traditional secure perimeter. It’s a situation compounded by the shortage of tech professionals with cyber skills, as well as the high volume of tools and providers needed when implementing cybersecurity strategies. - Arno Robbertse, ITC Secure
8. Shadow SaaS
The decentralization of tech purchases is a huge risk that most companies have not begun to understand. The huge software as a service marketplace allows any employee to purchase an application, often for free, and use it with company data, putting employees, customers and partners at risk. Though companies know about sanctioned applications, shadow SaaS is one of the biggest risks most companies are not securing adequately. - Lior Yaari, Grip Security
9. Poor Employee Cyber Hygiene Habits
Many major data breaches, including the Colonial Pipeline hack, have been the result of poor security hygiene in employees’ personal lives, such as reusing account passwords on work computers or accessing company applications from unknowingly compromised personal devices. More attention should be given to helping employees manage their personal security outside the office to address these vulnerabilities. - Hari Ravichandran, Aura™
10. Lax Security Protocols
The biggest security threats are inside your network. Whether it’s laxity, failure to monitor access and entitlements or not providing employees with optimized workflows, leading to insecure workarounds, it starts inside. Make following security protocols seamless by automating processes when possible, implementing a zero-trust framework and frequently communicating best practices. - John Milburn, Clear Skye
11. Man-In-The-Middle Attacks
Using Wi-Fi at any third-party location, such as a coffee shop or conference, can allow attackers to deploy a man-in-the-middle attack. Secretly, your communications can be intercepted and/or altered on their way to the recipient. With access to your data, the attacker can do any number of things. Tech leaders can protect their personnel with encryption security and VPN protocols. - Nicholas Domnisch, EES Health
12. Overly Permissive Cloud Entitlements
It’s important to understand that in the cloud, human and machine identities are the security perimeter. Many data stores are exposed to the internet and accessible by any identity with the right permissions. Visualizing and eliminating risky permissions in the cloud is a complex and dynamic process, but organizations must make it a priority. - Shai Morag, Ermetic
13. The Lack Of Spectrum Network Backups
On July 8, 2022, the Rogers Telecommunications internet and mobile phone network crashed across Canada, shutting most of the entire country out of digital access, including cellphone coverage, Web access, debit payments and even 911 calls. The main reason? There is no backup system in place to deal with a big problem. Regulators need to ensure that a backup exists or revoke spectrum licenses. - Blair Currie, Snibble Corp.
14. Unsafe IoT Devices
Cyberthreats to Internet of Things devices are getting attention from tech leaders and cybersecurity companies. However, if we want to be ready for the massive adoption of IoT, we should also be ready for subpar, unsafe devices to be produced on a massive scale. So we need to be very concerned about application programming interface vulnerability and the protocols for sharing data between devices and mobile apps. - Jacob Mathison, Mathison Projects Inc.
RSS Feed
