What are the Top 5 Cybersecurity Threats?

Nowadays, individuals, organizations, and companies are becoming aware of the importance of cybersecurity. Companies invest in talented as well as competitive cybersecurity professionals to develop, strengthen, and protect highly-confidential files and keep the companies’ integrity. As cybersecurity progresses, cybercriminals are also upgrading their attacks to continue with their harmful activities.

According to a study, cybersecurity attacks may cost the world to spend $10.5 trillion annually by the year 2025. The effect of these attacks can be crippling for small enterprises and may affect the economy and stakeholders. Defining, identifying, spotting, and preventing cybersecurity threats are important to minimize cyberattacks.

---

Phishing

What is Phishing?

Phishing is an illegal activity that preys on digital users through telephone calls, texts, or chats. Most of it are from email pretending to be a legitimate institution to gain sensitive data like personal information, banking details, and credit card information. The data will be used to steal money, purchase items, and identity theft.

How does it happen?

Phishing happens when a cybercriminal sends an email that copies a legitimate institution. Most of the time, these emails and messages contain a link that will redirect digital users to a fake website that almost looks like a legitimate source. These criminals will ask the users to encode his/her accounts like name, email address, credit card number, CVV, and passwords. The gathered information will be enough to commit fraudulent activities and charge the users’ bank or credit cards.

How to spot and avoid Phishing?

• When someone sends you an attachment or asks you to click a link, and you do not know this person or the email address does not guarantee the legitimacy of the institution, do not click the attachment or link.

• If the email address looks like it belongs to a legitimate institution, but the email contains wrong spelling and grammatical errors, do not engage.

• If a person calls you pretending to be a legitimate agent and asks for your sensitive data with a sense of urgency stating that your account may be closed, put the call down, inform your bank, and change your account password.

• Change your digital passwords regularly and implement multi-factor authentication.

• Be careful when giving your email address and personal information.

Ransomware

What is Ransomware?

Ransomware is where cybercriminals hack into a company system and threaten to delete or publish important data and apply an encrypted password to deny authorized people to log in. Hostaging the information of the company in exchange for money to remove the encryption. However, after settling a payment it does not guarantee safe access or return of the stolen data.

How does it happen?

Ransomware happens when users click and download a file from clickbait websites. The infected link will lead cybercriminals to have control of users’ networks and systems, forcing users or companies to pay to unlock the data.

How to spot and avoid Ransomware?

• Avoid clicking links and downloading files from any website even though it promises that you will get a reward.

• Practice cybersecurity hygiene, including regular vulnerability scans, creating stronger passwords, and having a list of authorized users who have access to the network and systems.

• May practice zero-trust wherein all documents, files, and electronic copies must be verified.

• Educate people from the organization about cybersecurity

Mobile Security Threats

What are Mobile Security Threats?

Mobile devices allow users to monitor business, communicate through social media, and multitask. Despite regular launches of new mobile phones and updates, it is not safe from cyber threats and attacks. Mobile security threats include application malware, network threats through use of public Wi-Fi, as well as physical threats like having no phone password or unregistered phone biometrics.

How does it happen?

Mobile security threats happen when users try to download apps without reading the terms and conditions that include access to your data. Website cookies are convenient to users because it helps to remember your mobile devices when you visit a particular website, but it is also a threat to your cybersecurity because the collected data might get stolen and used for malicious activities. Public Wi-Fi seems convenient because anyone can connect without a password, but doing so will allow anyone to have access to cloud storage, usernames, and passwords. Threats including spyware, phishing, and weak passwords are also mobile security threats.

How to spot and avoid Mobile Security Threats?

• Mobile application that requests storage access (e.g. Mobile games that request access to the gallery).

• Install mobile applications from Google Play and Apple App Store.

• Avoid saving usernames and passwords.

• Regularly remove cookies.

• Avoid connecting to public Wi-Fi, and logging your accounts using this network. Use your mobile data instead.

Remote Working Risks

What are Remote Working Risks?

The COVID-19 pandemic forced corporations, companies, businesses, and even the government to shift to a work-from-home arrangement. This trend has become popular among workplaces due to its time flexibility and the privilege to work anywhere. Because of the lack of immediate cybersecurity personnel, remote work may lead to a data breach, hacking the cloud storage, networks, and system. Examples of remote working risks include an unsecured network, poor cloud storage password, giving cloud sharing access easily, and poor data management.

How does it happen?

Remote work allows users to share documents and files within the organization, however, due to negligence or lowering the awareness of possible security threats it could result in a data breach. For example, the combination of poor management of data and connecting to unsecured networks such as public Wi-Fi increases the risks for cybercriminals who can hack into accounts and easily see the information. On the other hand, unsecured corporate networks, misconfigurations in cloud storage, and unencrypted files are also examples of remote working risks.

How to spot and prevent Remote Working Risks?

• Enable wireless encryption

• Create a strong password for cloud storage

• Strengthen corporate network

• Strengthen home Wi-Fi network password

Insider Threats

What are Insider Threats?

An insider threat is an employee that has access to and risks the company’s sensitive information, networks, and systems by willingly or unwillingly committing a data breach. This may be a result of being complacent or the intention to harm the company’s integrity.

How does it happen?

Insider threats may be unintentional due to negligence, such as ignoring cybersecurity updates or accidents like clicking websites that may lead to phishing. Meanwhile, intentional insider threats happen when an employee risks harming the company by releasing sensitive information due to needs unmet such as promotion or job termination.

How to spot and prevent Insider Threats?

• Promote open communication with employees within the organization.

• Implement the principle of least privilege.

• Ensure that there is a 24x7 Security Monitoring team. In-house or outsourced through Managed Security Services Provider (MSSP).

• Implement Privilege Access Management (PAM).

Cybersecurity threats and attacks will always aim to harm and steal organizations' resources through data breaches. Once an attack becomes successful, it is challenging for an individual and organization to bounce back and return to normal operation. Aside from the financial loss, the trust of stakeholders is difficult to earn back. A well-prepared strategy in case of data breaches is a dynamic response to deal with cyber threats and attacks.