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Rethinking Cybersecurity Is The Need of The Hour
Nov 22, 2022
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Rethinking Cybersecurity Is The Need of The Hour
Toulika Das
Toulika Das
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A lot has happened in the last few years that have left us on the edge of our seats. To say the least, these are trying times, with the COVID-19 pandemic keeping us cooped up in our houses predominantly. The Russian invasion of Ukraine in February 2022 has shaken the world, both physically and virtually.

Cyber attackers are aiming to take advantage of all of the opportunities these have provided. There has been a 1,070 percent rise in malware threats between July 2020 and June 2021.

Companies and governments should pay close attention to the virtual front of the Russian war in Ukraine as the next chapter of the war unfolds. Trying to stay ahead of cyberattack trends, such as ransomware and supply chain risks, is now more crucial than ever.


Why do we Need to Rethink Cybersecurity?

Complicated infrastructures with an ever-expanding risk surface must be protected from an ever-increasing number of risks. These cyberattacks may span from phishing to ransomware to assaults on vital infrastructure. One such example is LinkedIn; on June 20, 2021, a Dark Web forum advertised data related to 700 million LinkedIn members for sale. This vulnerability affected 92 percent of LinkedIn's overall user base of 756 million people.

Another instance is that of Harbour Plaza Hotel Management, a Hong Kong hospitality management firm. The lodging reservation databases were breached, affecting about 1.2 million clients.

Antivirus software and normal firewalls are no longer as effective in preventing cyber attacks as they were before. Cyber attacks are becoming increasingly common. It is no longer a matter of asking "if," but rather "when" for businesses and organizations. For this very reason, cyber security is so critical these days.


Biggest Cybersecurity Challenges Nowadays

As new technologies arise and modify organizations' cybersecurity procedures, the cybersecurity world is always evolving.

Enterprises across all sectors must empower their IT agencies to improve their cybersecurity infrastructure. They must also arrange for relevant training courses in cybersecurity for all important decision-makers in the firm. Some of the main cybersecurity challenges that organizations face daily are as follows.

1) Increased IoT devices

2) Adapting to Remote Work Environments

3) Emerging 5G Applications

Increased IoT devices

The Internet of Things (IoT) links physical items via the use of numerous sensors that interact with one another. As even more data is sent between devices, vulnerabilities may appear, allowing hackers and other cybercriminals to exploit data.


Adapting to Remote Work Environments

COVID-19 and the change to remote labour that resulted have significant ramifications for the field of cybersecurity. For many, it meant impromptu cloud migrations and hurried IT product and service acquisition to meet a new distant scenario. Several organizations hurried or bypassed traditional security procedures in order to keep company operations operating, exposing them to unprecedented levels of exposure and risk across all areas.


Emerging 5G Applications

When 5G was first introduced last year, several businesses were eager to make use of its capabilities. Mobile phone carriers are selling it to their clients or manufacturing trying to boost business performance. Emerging innovations, on the other hand, bring new dangers to bear. This is why cybersecurity experts must be on the lookout for vulnerabilities in these evolving infrastructures.


Major Causes of Cyberattacks Worldwide

An illegal activity wherein an attacker attempts to obtain unauthorized entry to an IT system for the purposes of theft, exploitation, destruction, or other evil motives is known as a cyberattack.

Cyberattacks are increasing in severity and frequency, and cybersecurity experts should step up their game. The major causes of cyberattacks worldwide are -

a) Spear-phishing

b) SQL Injection

c) Attacks on Cloud Services


Spear-phishing

Spear phishing is electronic communication fraud that targets a single person, company, or organization. Cyber attackers may plan on building malware on a targeted user's machine in addition to stealing data for criminal objectives.

According to a Symantec study, one out of every 4,200 emails sent in 2020 was a phishing email. When it comes to specialized attacks, spear-phishing was the predominant infiltration channel for 65 percent of active organizations.

Staff should be informed of the vulnerabilities, such as the likelihood of receiving fraudulent emails, in order to combat spear phishing attacks. Technology that focuses on email security, in addition to education, is required.


SQL Injection

SQL injection is a sort of cyberattack that targets SQL databases alone.SQL commands are used to query data in SQL databases. These SQL statements are commonly executed using an HTML form on a webpage. If the database permissions aren't established correctly, the attacker could be able to use the HTML form to run queries that build, view, change, or remove data from the database.

SQL injection attacks accounted for nearly two-thirds (65.1 percent) of all software application breaches between 2017 and 2019.

Input validation and parameterized queries, such as predefined statements, are the only surefire strategies to minimize SQL Injection attacks. The input must never be used directly by the application code. All input, not just web form inputs like login forms, must be filtered by the developer.


Attacks on Cloud Services

With the broad acceptance of remote work as a result of COVID-19, the demand for cloud-based services and technology has skyrocketed. As more firms implement cloud-hosted procedures in 2021 and beyond, this tendency will only continue to expand.

In 2020, improper cloud configurations were the biggest cause of data breaches, costing an average of about $4.5 million. Additionally, moving to the cloud increased the cost of the breach by $267,469 dollars.

Ensure that you're aware of the security precautions business should have in place before migrating your infrastructure to the cloud to avoid a cyberattack.


How Do We Rethink Cybersecurity and Prepare for the Future?

Vital infrastructure, such as health facilities and hospitals, commercial banking systems, and power generators, is crucial to everyone in society. These are essential to the functioning of our society. Individual cyber security threats can result in identity theft and extortion attempts, which can be devastating to a person's life.

Expenditure on cyber security is likely to increase in the future, with more and more businesses becoming conscious of their cybersecurity needs. According to the IDC (International Data Corporation), global cybersecurity expenditure is expected to reach $174.7 billion in 2024, with security services being the largest and speediest market category.

Attackers are always coming up with new strategies; therefore, the number of cyberattacks isn't going to go down. Businesses with a platform security strategy, which embraces operational tenets such as zero-trust and improves threat awareness, have the speed and adaptability they need to keep such attackers away.


Bottom Line

We must collectively join as a community and share our experience, expertise, knowledge, and perspectives to properly detect and protect against cybersecurity threats.

One of the most significant activities businesses can take in 2022 is to be proactive. Organizations that accept that security is no longer a voluntary expenditure will be able to counteract the current cybersecurity challenges.

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