Top 10 Cyber Threats
Facing Businesses
Today [2020]
Ransomware
Ransomware quickly rose through the ranks of malicious
applications recently as one of the more noticeable threats.
What’s alarming about this ransomware is its ability to lock
down a computer and unlock it only after the owner pays a
ransom. This system hi-jacking component makes
ransomware very disruptive.
Attackers are spending time intelligence-gathering on their
victims to ensure they can inflict maximum disruption, and
ransoms are scaled up accordingly.
Fileless Malware
Fileless malware gained the “fileless” moniker because it does
not exist as files within the hard drive. Attackers program file-
less malware to occupy the RAM. Threat analysts have a hard
time finding traces of this kind of malware since it does not
leave crumbs on the drive.
Fileless malware turn visible only when programmers order it to
initiate the attack. Cybercriminals often deploy fileless malware
against banks by inserting them into ATMs. The hackers in turn
gain control of the cash machines. Another successful use
hacker has for file-less malware is payload delivery. Fileless
malware can unload ransomware to the system with the
computer owner totally oblivious to what’s happening.
Crypto-Malware
The rise of cryptocurrencies and the explosive growth of
Bitcoin in 2017 has also gained the attention of
cybercriminals. Malware engineers developed malware
which can actually mine cryptocurrency when the browser
of an infected computer goes on the Internet.
Although not directly harmful, crypto-malware proved to
be disruptive as it steals a computer’s processing power to
mine cryptocurrency. The infected computer bogs down
and is noticeably slower in pulling up files and running
programs. In time, the computer will break down because
of the drain caused by the crypto-malware.
Zero-Day Threats
Software isn’t perfect right off the bat.
Every program installs harbors security
holes, called vulnerabilities, which
hackers and cybercriminals can exploit.
When they find a vulnerability and abuse
it before the software developers can
issue a fix for it, it’s considered a zero-
day threat.
Once the hackers get the ball rolling and
use a program’s vulnerability to deliver
ransomware or inject malicious code
that’s a zero-day exploit. Imagine
employees opening a Word document
file and then it launches ransomware
onto the system.
Meltdown And Spectre
Meltdown and Spectre are essentially vulnerabilities inside
processor chips. What merits special mention for both
vulnerabilities is that because there is an inherent flaw
inside processors and it exists within such a low level of
the system it’s hard to defend against hackers determined
to exploit it.
Hackers and malware engineers who take advantage of
Meltdown and Spectre will be able to bypass current
security measures without issue. They will also gain
access to restricted parts of a computer’s memory and
gain access to the user’s sensitive information.
IoT Malware
Sooner or later homes and businesses will host their own
smart environments. They’ll employ sensors to gain
information about the temperature, use apps to control
the lighting, and attach energy-efficient cameras to
monitor security.
The problem is the firmware of these smart devices is also
riddled with vulnerabilities. Hackers can exploit these
vulnerabilities to control these smart devices. Imagine
hackers switching lights off offices, halting power from
flowing through smart plugs, or simply watching you from
your smart surveillance system.
Banking Malware
Banking malware exists to steal financial information from users
and deliver the information to hackers so cybercriminals can steal
money from victims. Some banking malware specifically targets
mobile users since smartphones now allow people to make online
transactions. What’s sneaky about these kinds of malware is that
their authors pass them off as apps you can download for Android
like battery apps or games. This type of malware will work in the
background and steal your data while you’re not aware.
Emotet, an incarnation of banking malware, is currently one of the
more dangerous strains of malware out there. Basically, Emotet
can change its form to avoid detection and then replicates itself
within the system. It will move from one machine to the next by
brute-forcing passwords to enter its next destination. This
malware targets a user’s financial information, banking details,
and even their Bitcoin purses.
Stegware
Stegware expands malware’s attack surface. Hackers
employ steganography which involves the act of hiding a
malicious file inside another file, image, video, or message.
At one point only the most veteran and well-versed of
cybercriminals could actually craft their own stegware.
However, cybercriminals have become savvier in producing
them and make stegware available through kits in the Dark
Web for even the amateurs to use.
Companies will see more infections in the coming years
resulting from these malicious files hiding under the cover
of legitimate ones.
Phishing Email
Phishing accounts for 90% of all breaches that
organizations face, they’ve grown 65% over the last
year, and they account for over $12 billion in business
losses.
Some degree of data breaches happens because of
human error and the form of human error which leads
to a breach happens when an employee clicks on a
phishing email. A phishing email often carries a
payload like ransomware or a trojan horse virus which
wreaks havoc on the system right after its opened.
Advanced Persistent Threats
Finally, organizations should be wary of advanced persistent
threats. They’re what you would call a “long con” when
applied to a cyber-attack.
Cybercriminals who are into APTs invest a lot of time casing
their target after they’ve successfully infiltrated the system.
Once they’ve gathered information, they’ll start capturing and
transmitting data back to their own servers.
This particular kind of attack is persistent in the sense that it
can go on for years with the victim remaining unaware.
Hackers who participate in APTs are dedicated professionals
and often work in groups to penetrate their target organization.
