The new softwares and systems that are employed across an organization create new attack vectors for threat actors and new data security concerns. Not only that but as these new digital systems are put into use to replace once manual tasks additional complications arise from potential user errors, for example, an employee might make private data public without even realising.
In this article, we take a look at 7 of the growing concerns that cyber and infosec professionals hold as this trend towards digitizations continues at an increasingly explosive pace.
1. Unintentional Data Exposure
“To err is human,“ as Alexander Pope famously wrote. We all make mistakes and to combat this we have progressively leveraged more technology across industries to automate processes and reduce the potential for human error. However, technology can’t prevent our every mistake, and paradoxically, this use of technology increases the amount of data we as people and organizations produce and store in our systems. Hackers are aware of this and continue to find creative ways to exploit human weakness with strategies such as complex phishing campaigns.
On top of this, the adoption and rapid development of hardware (phones, for example) mean many people conduct work from their personal mobile device. And the move towards work from home driven by the COVID-19 pandemic has furthered this merger of work and personal devices as well as increased the amount of work done from unsecured networks.
2. Adoption of AI into Malware for Scale and Evasion
Denial of service attacks can take a variety of forms, from malware to DDoS attacks, and have huge financial implications for an organization. In 2018, for example, shipping giant Maersk had their IT systems taken out by a vicious malware called NotPetya, costing them an estimate $300 million.
These ransomware attacks might be driven by political motives, thoughts of financial gain, or something else entirely. Over the last few years, these tactics have evolved they’ve adopted new technologies and strategies allowing threat actors to increase both the scale of the attacks, as well as to more effectively neutralize increasingly complex security protocols.
One increasing concern is the adoption of AI into these attacks. AI can be used in a variety of ways, such as increasing the effectiveness of phishing campaigns. One example was developed by IBM Research, DeepLocker. DeepLocker hides its malicious payload in benign carrier applications, such as a video conference software, to avoid detection by most antivirus and malware scanners and then uses facial recognition to identify the specific target and launch its payload.
How AI is used to could completely change the way information security and cybersecurity professionals, in general, need to adapt and respond to threats.
3. Financial Fraud
Financial fraud off the back of data breaches is nothing new. However, it continues to be a problem today and into the foreseeable future. Data breaches from large organizations, whether they are related to your organization or not could easily lead to new attack vectors on your company.
There is a huge amount of Personal Identifiable Information (PII) for sale on the dark web. This data can be used in a number of ways, from credential stuffing strategies to identifying high-value targets and refining strategies for spear-phishing campaigns.
4. 3rd Party Integrations
Often organizations spend a huge amount of time and money ensuring their internal cybersecurity practices are excellent. It only takes one breach to realize the efficacy of this investment. Successful ransomware, for example, against an organization for example could cost tens of millions not even considering the reputational damages that might accompany the financial ones.
However, as was seen with the 2020 SolarWinds breach, it doesn’t matter how well educated your staff, how up to date your firewalls, how alert your security teams are if your third party integrations have weaknesses.
5. Increasing Amounts of Sensitive Data Collected Through IoT Devices
Internet of Things (IoT) devices is beginning to infiltrate every level of our lives. From mobile robots, to inventory tracking, to personal assistants, connected speakers and smart TVs. These devices seek to automate and simplify our lives.
However, what many people don’t realize is that these machines are often insecure by design and offer attackers new opportunities. Additionally, the terms and conditions around data sharing and usage from many of these devices lack transparency, and by utilizing this technology an organization makes it increasingly difficult to know and control what data is going out.
Finally, it’s often the case that, while a vendor may recommend applying new firmware updates, they are not applied unless the device starts misbehaving and someone applies the update to troubleshoot the issue. This could lead to serious security compromises.
6. Rise of Fake Online Personas
This threat can have a direct and dramatic impact on organizations reputation and the physical security of employees. By creating and leveraging fake or phantom social profiles threat actors can create trending news and information, promote poor products, or push lies and deceptions to further an agenda.
The application for these kinds of campaigns is vast, affecting everything from national elections to company sales and share prices, and there is currently no system in place to identify false profiles efficiently and counter the purposeful spread of misinformation in this way.
7. Shortfall of Professionals
The final security risk on the list is the continued shortage of skilled security workers. As cybersecurity threats evolve, and areas such as information security become more important for organizational security, increasing numbers of skilled and trained professionals will be needed.
Finals Words
Many people are now desensitized to the fact their data is shared online either through breaches or loose company policies. Because we cannot regain our privacy, they often become careless about protecting it further. Add to this the constant evolution of cybersecurity threats, and the challenge for cybersecurity professionals looks like a tough one.
To ensure organizational security, companies need a combined response, that includes continuous education of employees, restricted accesses, and multi-factor authentication. This needs to be paired with a skilled security team who are armed with the necessary knowledge and tools such as OSINT software.
Security professionals need to be able to gather real-time data on emerging threats and proactively implement an effective response.
