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4 Cyber Attacks Common In Business

In today’s fast-paced, constantly evolving world of modern business, technology is a cornerstone of basically everything we do, and an instrument that makes most of our transactions and interactions possible.

Despite the array of assistive and ergonomic solutions that technology offers us on a daily basis, with the benefits come an equal array of risks and dangers. There are still many organizations that are unaware of the damage a cyberattack can cause, and how much critical data can be lost or stolen in the blink of an eye, or by clicking on the wrong link.

Let’s look at four common types of cyberattacks, and what guises they can take in their attempts to harm your business.

 

MALWARE

Cyberattacks involving malware are perhaps the most common and dangerous and have been around since the beginning of the internet and downloads. Simply put, malware is software that appears harmless, but when used releases malicious code with varying degrees of severity. There are times when viruses are implanted into a program without even the knowledge of those who created it, and then redistributed widely before the problem is discovered.

A few examples of what these kinds of programs could hold are Ransomware, which scrambles files across a database with the goal of being able to unlock them via a random algorithm, Trojan viruses, which can allow attackers to access computers or data within a system through the installation of a back door, and Worms, which copy themselves across an entire network to commonly overwhelm the system, destroy data, and cause disruptions. [1]

 

PHISHING

Asserting a false purpose or appearance of sincerity in order to approach their targets, cybercriminals use phishing to deceive and manipulate their targets into exposing themselves and their organization. Engineered to look authentic in the hopes of securing the trust of the target and therefore their information or access to their authority within a mainframe or system, phishing is especially harmful because it directly preys on the unaware. This can even mean gaining access to bank accounts or other highly secured items through fake authorizations or requests.

Phishing attempts may be launched via an unsolicited email or other kinds of public, unverified contact that claims to be part of a professional or legitimate scheme, whether coming from within a company or from another.

Phishing attempts may also be coupled with other kinds of attacks in order to gather information or to send attachments containing malware in order to convince someone directly to use it. [2]

 

PASSWORD ATTACKS

Several methods may be used to initiate such an attack on an infrastructure – random/guessing algorithms that attempt to guess passcodes through brute force and trial and error, dictionary skimming to use common words, and even phishing to falsely request login credentials from an employee. In some cases, these attacks can even be performed on more than one account within the same business at once, all in the hopes of gaining access to at least one account in order to obtain sensitive information from it. There is a probability that an attacker will also try to strip as much login information from the system as possible so that if they lose access, they can use that information to re-gain access all over again. [3]

 

INTERNET OF THINGS (IOT) ATTACKS

With our lives and devices more intertwined and connected than ever before, it makes sense that the modern environments of engagement between technology and life will be just as under threat as the more traditional ones. Cyber attacks on smart devices alone have increased more than 100% in the first two quarters of 2021, with hackers attempting everything from mining cryptocurrencies to ransoming property or safety and taking personal data in 1,500,000,000 attacks over this half of the year alone. Cyber thieves and snoopers can use the Internet of Things to control appliances and electrical systems while simultaneously eavesdropping and stealing personal and corporate information on a level previously unattainable. [4]

 

[1] What is Malware? (2022, January 3). Cisco. https://www.cisco.com/c/en_au/products/security/advanced-malware-protection/what-is-malware.html#:%7E:text=Malware%20is%20intrusive%20software%20that,spyware%2C%20adware%2C%20and%20ransomware.

[2] Fruhlinger, J. (2020, September 4). What is phishing? How this cyber attack works and how to prevent it. CSO Online. https://www.csoonline.com/article/2117843/what-is-phishing-how-this-cyber-attack-works-and-how-to-prevent-it.html

[3] EI-ISAC Cybersecurity Spotlight – Password Attacks. (2021, June 15). CIS. https://www.cisecurity.org/insights/spotlight/ei-isac-cybersecurity-spotlight-password-attacks#:%7E:text=A%20password%20attack%20refers%20to,expedites%20cracking%20or%20guessing%20passwords.

[4] Cyrus, C. (2021, September 17). IoT Cyberattacks Escalate in 2021, According to Kaspersky. IoT World Today. https://www.iotworldtoday.com/2021/09/17/iot-cyberattacks-escalate-in-2021-according-to-kaspersky/#:%7E:text=Some%201.51%20billion%20IoT%20breaches,the%20telnet%20remote%20access%20protocol.&text=IoT%20cyberattacks%20more%20than%20doubled,computer%20security%20service%20provider%20Kaspersky.

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