The Rise of Cybercrime
Cybercrime is a growing threat with significant financial implications. The average data breach cost is R39.86 million, and the global annual cost of cybercrime is projected to reach $6 trillion by 2021. Phishing attacks alone steal an estimated $17,700 per minute. Hackers employ a variety of techniques, but trends indicate their preferred methods. Notably, six out of ten breaches involve unpatched vulnerabilities, 45% of reported breaches involve hacking, and 94% of malware is delivered via email. In the first half of 2019, attacks on Internet of Things (IoT) devices tripled, and fileless attacks increased by 265%.
Data breaches affect organisations of all sizes, with 63% of companies reporting potential data compromise due to hardware-level security breaches in the past 12 months. Moreover, 40% of IT leaders find cybersecurity positions the most difficult to fill.
Top Cybersecurity Vulnerabilities
Businesses must be aware of the most common cybersecurity vulnerabilities, which include:
Legacy Software: Outdated systems are often susceptible to known vulnerabilities.
Default Configuration: Default settings can provide easy access points for attackers.
Lack of Encryption: Data not encrypted is vulnerable to interception and theft.
Remote Access Policies: Insecure remote access can create backdoor entry points.
Gaps in Policies and Procedures: Weak or incomplete policies can lead to security oversights.
Lack of Network Segmentation: Unsegmented networks can allow attackers to move laterally across systems.
Unpatched Security Weaknesses: Failure to apply patches leaves systems exposed.
Unprotected Web Applications: Web applications without proper security measures are prime targets.
Unrestricted User Account Access: Excessive user permissions can lead to unauthorised access.
Unknown Programming Bugs: Undiscovered bugs can be exploited by attackers.
Common Types of Cyberattacks
Hackers continue to use various techniques, but seven basic types of cyberattacks remain prevalent:
Malware Attacks: Malicious software is installed via dangerous links or email attachments, causing disruption or data theft.
Phishing Attacks: Impersonating reputable sources through email to steal sensitive data or install malware.
Man-in-the-Middle (MitM) Attacks: Intercepting transactions to steal data, often through unsecured public Wi-Fi.
Denial-of-Service (DoS) Attacks: Flooding systems with traffic to cripple operations, sometimes using multiple compromised devices (DDoS).
SQL Injection: Inserting malicious code into servers to reveal sensitive information.
Zero-Day Exploit: Targeting vulnerabilities before a patch is available.
DNS Tunneling: Masking outbound traffic as DNS to exfiltrate data and send commands to compromised systems.
Emerging Cybersecurity Threats
Deepfakes: AI-generated images, videos, or sounds that appear natural, posing risks of false incriminations.
Synthetic Identity Fraud: Combining real and fake credentials to create false identities.
AI-Powered Cyberattacks: Using AI to mimic human behaviour and deceive individuals into revealing information.
Vehicle Cyberattacks: Accessing vehicles to steal data or turn off safety functions.
Cloud Jacking: Infiltrating cloud systems to misuse resources for activities like cryptocurrency mining.
Tips for Protecting Yourself from Cyberattacks
For Individuals
Unique Passwords: Use unique, original passwords for each account and update them every three months.
Software Updates: Regularly update software to fix known vulnerabilities.
Social Media Privacy: Set accounts to private and avoid sharing sensitive information.
Use a VPN: Protect data with a virtual private network, especially on public Wi-Fi.
Educate Children: Teach children proper internet usage and social media safety.
For Organisations
Secure Hardware: Protect physical devices from unauthorised access.
Data Backup and Encryption: Regularly back up data and use encryption to safeguard information.
Cybersecurity Insurance: Invest in insurance to mitigate financial risks.
Promote Security Culture: Encourage a security-focused mindset among employees.
Robust Cybersecurity Software: Use comprehensive security software to protect systems.
Reducing Risk
Prevention is essential to reducing the risk of data breaches. By investing in robust cybersecurity software, using a VPN, and staying informed about standard attack methods, individuals and organisations can deter hackers and protect their data.