In the animal world, predators use different tactics to bring down their prey. The spider prefers trapping their prey, while the lion uses brute force. If you’re truly unlucky, you may go up against a predator that hunts just for fun (cough, cough, house cats).
In the wilds of the internet, though, predators tend to favor tricks and traps over brute force. Today’s modern hackers and cyberattackers are adept at identifying new system vulnerabilities. To protect your business against these predators, staying vigilant and attentive to emerging cybersecurity threats is necessary.
Let’s talk about five emerging cybersecurity threats and how your business can level up its security protocols to lower the risk of a data breach.
5 emerging cybersecurity threats your business needs to know about
1. Attacks against cloud services
More companies are using cloud software than ever before. Today, 94% of companies use cloud software, a 14% increase since 2020.
According to IBM, cloud-based breaches accounted for 45% of security incidents in 2023. These security incidents have serious consequences, including data breaches, loss of control over data, and major financial losses (on average, $4.88 million).
What are cloud service vulnerabilities that businesses should monitor?
- Misconfigured cloud settings: Glitches, gaps, or errors in cloud settings account for 67% of cloud data breaches and are considered a significant concern by the NSA.
- Cross-site scripting (XSS): Bad actors manipulate vulnerable websites to deliver malicious code, giving attackers access to user accounts or linking to infected URLs.
- SQL injection (SQLi): Interference with SQL queries to manipulate application behavior, harm system infrastructure, or access sensitive data.
- Server-side request forgery (SSRF): An attacker uses applications to access internal endpoints indirectly, gaining insight into the cloud infrastructure setup and potentially access to other systems.
2. Identity attacks
Identity attacks occur when a bad actor uses a user’s valid credentials to access your system. They are also simpler than exploiting technical vulnerabilities; you just have to exploit human vulnerabilities.
There are many types of identity attacks, and cybercriminals constantly evolve their techniques. Here are a few to watch out for:
- Credential stuffing: A brute-force attack in which bots find “winning pairs” of a user’s login and password credentials, which users often repeat across multiple sites. Once they find the key for one site, they can use it across multiple web applications.
- Password spraying: Hackers attempt to gain access to user accounts by working through commonly-used passwords with multiple usernames.
- Adversary-in-the-middle (AiTM): A form of digital eavesdropping in which an attacker intercepts data between two parties or systems, allowing them to capture private messages, steal intellectual property, and even take over an entire authentication session.
- Kerberoasting: Bad actors attempt to crack passwords within Microsoft Active Directory environments.
- Silver ticket: Cybercriminals use stolen credentials to create a forged authentication ticket, allowing them to impersonate another user.
- Golden ticket: Attackers target Microsoft’s Kerberos tickets to gain access to NTLM hash, which can be used to maintain unauthorized access to a network even if legitimate users change their login credentials.
3. Evolving ransomware tactics
Ransomware attacks aren’t breaking news, but AI-driven ransomware and double extortion tactics are leading to new vulnerabilities in the cybersecurity landscape.
AI-driven ransomware can adapt to traditional security measures to get around common protections. On top of AI technology, double extortion tactics are another trending threat for ransomware victims in which users are threatened more than once:
- First, information is ransomed until you agree to pay the ransom.
- After you pay the first ransom, cybercriminals demand a second ransom to prevent the sale of sensitive user data on the dark web.
This process creates additional financial pressure and amplifies potential damage to your business’s reputation.
4. Social engineering and phishing
With the continued growth of security measures, humans remain the easiest target for cybersecurity threats, such as phishing and social engineering.
Phishing has been around since the ‘90s, and it still works. Phishing is a type of social engineering that manipulates people into sharing information they shouldn’t share, visiting malicious sites, downloading malicious software, and making a wide range of mistakes that can compromise personal and organizational security.
With AI, phishing techniques are becoming more advanced, with audio and visual deepfakes capable of impersonating company leaders and other trusted sources. Thorough employee training is key to risk mitigation.
5. Exploitation of BYOD
Bring Your Own Device (BYOD) is when employees use personal devices to connect to an organization’s network or access work-related systems. It’s also really common. (Consider how many people check work emails on their personal smartphone.)
However, personal devices are much more vulnerable than corporate devices, which often require additional authentication and encryption.
BYOD can lead to several security challenges, including:
- Data leakage and loss: Attackers gain access to a user’s device and use it to steal credentials or data stored on it.
- Device infection: Users fail to update their operating system, leaving their devices open to system vulnerabilities and infection.
For businesses that employ BYOD policies or allowances, consider adopting robust mobile device management solutions. These solutions can separate corporate data from personal data and preserve user privacy.
How businesses can level up security protocols
The best tools against cybersecurity are ongoing vigilance and employee protection. Here are a few best practices to get you started.
Conduct regular security assessments
Perform regular security assessments to identify and address system vulnerabilities. Tools like penetration testing and vulnerability scans can help you discover and assess system flaws. Because vulnerability scans typically involve outside software, it’s important to research reputable tools to help you gain a bird’s eye view of your system.
Scrutinize third-party vendors
Create a third-party management program to perform due diligence and ensure your business doesn’t rely on tools or services that expose your company to additional security threats.
To get started:
- Complete a data inventory to understand how it flows in and out of your organization.
- Stratify third parties based on risk exposure, such as the amount of sensitive data shared with a vendor or the volume of transactions.
- Based on your vendor tiering, target your largest vulnerabilities first.
Implement multi-factor authentication (MFA)
Require employee MFA to access critical systems and data. Use a combination of authentication methods such as passwords, biometrics, and security tokens. MFA adds an extra layer of security, limits unauthorized system access, and significantly reduces the risk of a successful hack.
Enhance employee training and awareness
Provide regular cybersecurity training sessions covering topics like phishing recognition, strong password creation, and adherence to security policies. (And by “regular,” we mean more than once a year. Weave training into ongoing team meetings and communications. Gamify things! Get creative!)
Consider adding additional training on AI vulnerabilities, such as deep fakes and data privacy protections.
Adopt zero trust architecture
Zero trust architecture can be summed up as “trust no one, verify everything.” This type of trust model requires continuous verification of users and devices and is especially effective for protecting cloud-based networks. Zero Trust typically adopts restricted permissions, continuous validation, and segments data via “microperimeters.”
It’s a jungle out there
Keep your business safe with practical tools and strategies. Contact us today to discuss how you can protect your data privacy and security.