As cybercriminals continue to develop new, sophisticated ways to attack technology infrastructures and programs, industry experts are also on the job. They proactively develop risk management and mitigation technologies to keep networked systems safe.
Cyber attacks are increasing in frequency and getting more sophisticated, making it difficult for organizations to stave them off. This is especially true for businesses using global networks. New cyber security threats are regularly discovered, sometimes later than sooner, because of the increasing ability of hackers to find new ways to invade business systems. The innovativeness of hackers means new strategies are needed to protect organizations and their stakeholders. Some of the recent approaches include developing artificial intelligence (AI) and machine learning threat detection and prevention programs, employing encryption algorithms, and creating Zero Trust Architecture (ZTA).
Rapidly Evolving Cyber Security Threats
As technology advances and becomes more complex, cyber criminals develop equally complex and innovative ways to attack businesses. For example, AI is used to craft convincing phishing emails and evade detection by traditional security tools. In this type of cyber attack, something else may be used, like a deepfake voice or a video attack impersonating an executive for fraud.
The CEO of WPP was the target of a deepfake scam that involved an AI voice clone. The cybercriminals created a WhatsApp account with an image of the CEO, Mark Read. Then, they set up a Microsoft Teams meeting that appeared to be attended by Read and another senior executive. The voice clone tried to convince an “agency leader” to establish a new business, allowing the fraudsters to steal personal details and solicit money. The attack failed, but it shows the extent to which cyber thieves can utilize technology.
In some cases, hackers infiltrate corporations through their third-party vendors or suppliers. Another growing threat is using IoT devices as entry points for attacks. The IoT network is a set of interconnected devices and presents vulnerabilities. One compromised IoT device can compromise the security of an entire network.
Smaller businesses are particularly vulnerable because their technologies are not always updated due to the expense. Cyber attacks have become so mainstream that ransomware is now available as a subscription service, meaning less-skilled hackers can become threats. Ransomware as a Service (RaaS) is a cybercrime business in where developers lease or sell predeveloped ransomware tools.
Healthcare systems have been frequent targets of RaaS, where cybercriminals use ransomware tools to encrypt hospital systems. The criminals then demand a ransom payment to restore access to patient data and medical operations. Hospitals have proven to be easy targets because they have complex technology infrastructures, often piecemealed together with outdated technology, store large amounts of valuable patient data, and have small IT and cyber security staff.
Quantum computing is a new technology that presents opportunities to strengthen cyber security while also presenting a threat because of its ability to break current encryption methods. The quantum security field is developing to leverage the opportunities quantum computing presents. This is a critical because quantum computers are on the verge of breaking traditional cryptography, which would be a security disaster.
Advanced Persistent Threats (APTs) are government-sponsored or highly organized groups.5 APTs infiltrate a company’s network over time, stealing something like intellectual property. The infiltration is pulled off using targeted phishing emails, zero-day exploits, and custom malware to maintain access. Firms must always stand guard against APTs.
Going on the Cyber Defense
Cyber security strategies must be as sophisticated as cybercriminals' strategies. AI may be used to infiltrate a system, but it can also be used for advanced threat detection and prevention. Compared to any other technology, AI and machine learning (ML) can do a better job of detecting real-time anomalies in network traffic and performing behavior analytics to identify potential insider threats. Since it learns, AI and ML can adapt as cybercriminals change their approaches. Using Extended Detection and Response (XDR), the technologies integrate data from all sources, including servers, endpoints, and cloud services. AI and ML can also produce behavior analytics to identify potential insider threats.
Using the principles of “Never trust, always verify,” Zero Trust Architecture (ZTA) is a strategy of continuous authentication. It includes microsegmenting networks to limit lateral movement. ZTA is a new strategy for modern times. It is designed to protect complex multi-cloud networks accessed by remote workers, people using personal devices, IoT devices, SaaS apps, hybrid cloud services, and more. Instead of mainly protecting the endpoints of networks with firewalls and other security measures with the assumption users inside the network are trustworthy, ZTA considers every endpoint and user and their connection request as a potential threat. Every request to connect to a resource is continuously validated.6
Some other strategies focus on enabling organizations to share and receive updates on emerging threats. Information Sharing and Analysis Centers (ISACs) are non-profit organizations that provide collaborative platforms for gathering information on cyber threats. ISAC entities are infrastructure owners and operators. ISACs collect, analyze, and disseminate threat information and share tools to mitigate risks and improve resiliency.7
Another strategy organizations are adopting is the Secure Development Lifecycle (SDLC), a set of practices for identifying and mitigating vulnerabilities during the development phase of new software. It is a multi-step approach consisting of rules, procedures, and standards. SDLC is a risk management process that includes creating security requirements for software functions, code reviews, architectural analysis, security testing, and risk analysis.8
Trusting the Experts
There are no easy answers to preventing cyber attacks, but some of the best minds in the technology industry are working on finding them. The level of sophistication in cyber security is remarkable, and people are experiencing it without even realizing the complexity. For example, Multi-Factor Authentication (MFA) combines a password, a device, and maybe biometrics, like fingerprints or facial recognition, to verify identities and prevent attacks. Consumers know it as two-step authentication, and this process protects their identity and data. It is also applicable in the workforce. As cybercriminals work to improve their ability to attack technology-based systems, technology experts are working just as hard to prevent those attacks by staying ahead of them.