What are Cyber Security Threats? All You Need to Know

Perhaps the most significant change required is how cyber security is viewed. It should not be seen as a problem but rather as a risk that needs to be managed. Having a set of standards and good practices in place can contribute to making that shift.

Cyber Threats are becoming more prominent, clever, and intense with the rise in remote working, and our everyday dependence on connected devices is only aggravating the risks. Of course, connected devices are here to stay for a long time. So, the right way to look at Cyber Threats is by acknowledging that they will remain a part of the system and that we will have to adapt accordingly to keep our digital assets secure.

What are Cyber Security Threats?

The term ‘cyber’ in the 1950s was used to refer to cybernetics, which involves the science of understanding the control and movement of machines and animals. Later on, it was used to refer to something computerized. With the start of the 90s, ‘cyberspace’ became a popular term that referred to a physical space that was believed to exist behind the electronic activities of computing devices. It was coined to set the online world as a distinct space. Nowadays, everyone likes to think of it as a global network of interdependent IT infrastructures.

Cybersecurity threats are harmful activities performed by attackers to obtain sensitive information or simply create chaos in the digital lives of everyday people. Attackers use remote locations and secured connections to make these kinds of attacks.

While many cyberattacks are intended to be nuisances, some are actually quite serious and can even potentially harm human lives.

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Types of Cyber Security Threats

Cyber threats can be classified into three broad categories of intent.

1. Disruption espionage
2. Corporate espionage (theft of patents)
3. State espionage

Every Cyber Threat falls into one of the above three categories. Some common cyber security threats are:

1. Malware

Malware is software or a program designed to exploit systems and networks. It is typically deployed by watering hole attack. Once malware is in the system, it can block access to critical components of your network, gather sensitive data, and damage the system.

2. Spyware

Spyware is a type of malware that secretly captures sensitive data and transfers it to attackers in real-time, for example, by obtaining login credentials from an infected target system.

3. Phishing

When an attacker tries to impersonate to get sensitive information by creating a fake social media page or by sending fake company emails, this process is known as phishing.

4. Distributed Denial-of-Service (DDoS)

DDoS attacks aim to interrupt networks by overwhelming the servers and requests. The network is flooded with superfluous requests from hundreds or thousands of IP addresses that overload the system and prevent legitimate requests from being fulfilled. This causes the target system, like a website, to crash.

5. Ransomware

Ransomware is a type of attack in which the attacker demands money or ransom to restore the network and system to regular operation. The attack involves data encryption on the target system, rendering all the files inaccessible and demanding a monetary ransom to regain access to the owner. These attacks can be low-level nuisances or even have damaging consequences.

6. Zero-day exploits

A Zero-day attack is the kind of attack that happens the first day a vulnerability is discovered, as the newly discovered vulnerability is not easy to fix at that moment.

7. Advanced persistent threats (APTs)

Advanced persistent threat refers to when an attacker plans for the long term, gets access to your information, and steals it without even being detected.

8. Trojans

Named after the Trojan Horse of ancient Greek history, this type of malware or code initially acts as a legitimate standard application or file. It tricks one into loading and executing the malware on their device. Once inside the host system, the trojan lets out the malicious code that has the potential to damage, steal data, or inflict some other harmful activity on a network.

9. Wiper attacks

A wiper attack is a type of malware that intends to wipe out the hard drive of the computer it infects.‍ It involves wiping, overwriting, or removing data from the victim. These kinds of attacks are mainly destructive in nature and often do not involve a ransom. Sometimes, they are used to cover the tracks of separate data theft that is occurring. Wiper attacks aren’t covert for the most part, as they are not meant to linger quietly in the background.

10. Intellectual property theft

When any person or organisation steals your intellectual property without getting permission, it is called intellectual property theft.

11. Man-in-the-middle attack (MITM attack)

In this kind of attack, attackers try to intercept information between two systems or people without getting caught. They can eavesdrop or impersonate one of the parties, making it appear as if a routine exchange of information is underway.

12. Drive-by downloads

In this kind of attack, the attacker installs malicious software or runs malicious scripts to download information without even being detected.

The download can happen in two ways:

1. Downloads that occur after the authorization given by a user but without understanding the consequences, such as downloads that install an unknown or counterfeit executable program
2. Downloads that happen without the knowledge of the person, like a computer virus, spyware, malware, or crimeware.

13. Malvertising

Malvertising is a kind of advertising that spreads malware by using ads to get sensitive information and to get into the system.

14. Rogue Security Software

Rogue security software is malware and internet fraud disguised as real software that tricks users into believing that their computer has a virus. It convinces users to pay for a fake malware removal tool that installs malware on their computers instead.

15. Natural Disasters

Sometimes, natural disasters can disrupt the data centre in which the software is housed.

Sources of Cyber Threats

Cyber threats can arise from a variety of sources. To effectively protect against cyberattacks, it’s essential to understand threat actors and their intentions. Following are some of the sources of Cyber threats:

1. Hackers

Hackers use various tactics and techniques to exploit vulnerabilities and attempt security breaches in a computer system or network. They are mainly driven by personal gain, financial gain, political activism, and sometimes, even revenge and stalking. Hackers are capable of developing new threats for the thrill of the challenge or for the bragging rights they can have in the hacker community.

2. Nation-states

Cyber attacks by nation-states devote a surprising amount of time and resources to gain the upper hand in favour of national interests, gathering intelligence, and espionage, theft, and disruption for military strength. Attacks against software supply chains and attempts to obtain IP data on vaccines just demonstrate the lengths to which they go to achieve their strategic goals. A very recent study sponsored by HP Inc. found that some governments use tactics used by organized criminals in cyberspace.

3. Criminal Groups

Criminal groups mainly intend to infiltrate systems or networks for the sake of financial gain. They resort to phishing, spyware, spam, and malware to various thefts, frauds, and extortions.

4. Terrorist Groups

Terrorists seek to threaten national security, disrupt the economy, compromise military equipment, or cause mass casualties by destroying, infiltrating, or exploiting critical infrastructure through cyber attacks.

5. Malicious Insiders

Insiders may be employees, contractors, other business associates, or third-party vendors who have legitimate access to the assets of an organization but misuse them for financial or personal gain.

In some nations, the boundary between national intelligence and criminal organizations is blurred. Oftentimes, criminals do the actual work of cyber espionage. Apart from this, many cyber threats are bought and sold on the ‘dark web’, a growing underground marketplace widespread and a hotspot for criminals. Here, hackers deal in or make transactions in ransomware, malware, credentials for breached systems, and many other underground criminal activities.

Emerging Cyber Threats

The digital world is always evolving, and so are the Cyber Security Threats. One should pay close attention to these new threats in Cyber Security as well to be aware of them and to put up a better fight against these situations.

1. Pandemic-related attacks

Since 2020, the biggest challenge for business and IT organizations has been the pandemic. During this time, the number of Cyber Threats has increased, and the threats themselves have grown more sophisticated.

Cybercriminals will probably continue to use the pandemic situation as a driving force for phishing and social engineering campaigns. Moreover, with the workforce around the world moving their work online and working from home, it has introduced numerous unsecured entry points for hackers to target.

2. Cloud Breaches

As companies are migrating to the cloud to assure business continuity through remote working, cybercriminals are targeting the cloud more frequently. Cloud-based security risks include cloud misconfigurations, vulnerable cloud apps, and incomplete data deletion, which are the most common sources of cyberattacks.

3. IoT Attacks

Big organizations around the world have increasingly deployed Internet of Things (IoT) devices and applications. This enhanced connectivity, however, brings with it a new set of security challenges, putting them at risk. Cybercriminals can exploit these vulnerabilities to gain control of devices and penetrate networks.

Why is it necessary to protect from Cyber Threats?

Cyber security risks are present in every organization and are not always under the direct monitoring and control of IT security teams. Increasing connectivity (IoT), the rising adoption of cloud technology and services, and outsourcing mean larger cyber security threat vectors compared to the past.

Third-party and fourth-party risks are also on the rise, making cyber security risk management, vendor risk management, and third-party risk management all the more crucial for reducing the risk of data breaches by third parties.

On top of that, business leaders unintentionally make risk-inducing decisions every day. Information security cannot be the responsibility of the Chief Information Security Officer (CISO) alone and must be an organizational-wide initiative. These are the reasons why cybersecurity is important.

Best Practices for Cyber Protection

Cyberattacks are evolving as a major threat to businesses as well as individuals. Hence, it has become necessary to build a strong cybersecurity system to protect devices, systems, networks, and computers. However, it is always up to individuals and organizations to make the right cyber-defence decisions. Below are some of the highly recommended common practices for cyber protection:

1. Two-factor authentication (2FA)

It refers to an additional layer of security where the user is asked a series of questions. 2FA ensures that the user trying to gain access to the system is actually the one who they are claiming to be. Sometimes, this may also include the biometric pattern of a fingerprint, an iris scan, etc.

2. Installing antivirus programs

They are software installed in systems and are typically designed to identify and treat malware such as viruses, computer worms, spyware, keyloggers, etc. Getting the most out of antivirus programs is possible through their regular update.

3. Firewall

Installing a firewall is proven to have defied major cyberattacks. Firewalls block brute force attacks meant for the computer system before they can damage the network or files.

4. Internet security suite

It is usually referred to as a collection of utilities that involve the benefits of antivirus programs as well as firewalls. Through a single control panel, the suite allows users to perform multiple cyber defence activities. Where antivirus programs only warn about harmful websites, the internet security suite directly blocks the URL, making it a better option.

5. Endpoint protection

Some networks are remotely bridged to devices. Laptops, computers, and mobile devices are connected to corporate networks, paving the way for security threats. Such paths need endpoint protection software.

5. Identity theft protection

To combat phishing, antivirus solutions with identity theft protection are considered as a prompt identification of any kind of phishing attack. Some of the steps that individuals can take to prevent identity theft can be regular checking of credit reports, monitoring A/C statements, reporting missing bills, ignoring spam emails, etc.

6. Cyber Incident Response Plan (CSIRP)

Irrespective of their size, all organizations must have an effective CSIRP in place to combat cyberattacks, prepare for any unforeseen theft, and recover as soon as possible from a cyberattack. A CSIRP is also one of the preferred cyber defence practices as it allows users or organizations to prioritize operations and security incidents.

7. Creating backups

There is no guarantee that the attackers will return the stolen data even after paying the ransom. Hence, it is always advisable to create data backup to mitigate the loss from cyberattacks.

8. Training

It is advisable to train the staff of the organization to thoroughly check the links and email addresses before clicking on them. Keeping the employees informed about cybersecurity threats, modes, and precautions by conducting training sessions has become crucial nowadays.

9. Securing sites with HTTPS

Encryption and securing of the website must be done with HTTPS as this ensures the protection of the integrity and confidentiality of the website and user-linked data.

Cyber Defense for Businesses

Cyber defence in business includes basic but effective countermeasures like system patching. Whenever there is a security flaw in a product, the tech vendor generally writes code that fixes or ‘patches’ the issue and distributes the patch to all the owners of the product. This is commonly done at least once a month. Many attacks become unsuccessful when IT departments deploy security patches on a timely basis.

Several new technologies and services have been introduced in the market that make it easier to have a robust defence in place against Cyber Threats. These include:

• Continual attack simulation tools
• Outsourced security services
• Systems that facilitate collaboration between security team members
• Anti-phishing and secure browsing point solutions

Cyber Defense for Individuals

The best practices for individuals aren’t too complicated or extensive. There are preventative measures that can help ensure the safety of information:

1. Password hygiene

Even big security organizations will not be able to protect consumers against phishing or hackers if the passwords are obvious and easy. A little cautiousness and password hygiene can help consumers protect their systems, networks, and their accounts from cyber threats.

2. Anti-virus software

Anti-virus software subscriptions can keep a lot of harmful viruses and threats at bay. Regular updates and automated, scheduled scans can keep systems in check and protected at all times.

3. Preventing phishing attacks

Users should be careful when opening any file attachments from unknown senders. It is best not to open emails from unknown sources to avoid phishing and spear phishing. These emails could also pose as legitimate emails. So, it is always important to be absolutely sure.

Takeaways

Cyber threats can be scary for all enterprises and consumers because they exist and have the potential to cause great harm. These cyber threats are only becoming increasingly potent and recurrent over time. Taking a cyber security analyst course can significantly enhance everybody’s cautiousness and awareness of such threats, helping to defend and protect against them.