Рубрика: Cybersecurity

The Coronavirus pandemic has created an enormous challenge for businesses worldwide: the basic one being how to ensure business continuity?

The information technology framework and architecture on which businesses have long depended their departmental servers, digital devices, data centres and cloud systems to let their now-remote employees stay connected to each other. Thus, at this juncture, the company’s data becomes very critical and vital. Overnight, the demands placed on the digital infrastructure have skyrocketed, which leaves cybersecurity in bottlenecks, as technology becomes a much bigger and more lucrative target for cybercriminals. Cybersecurity efforts need to be upgraded to prevent a second crisis from emerging: on the digital devices and networks that have become infinitely more vital to companies in recent weeks. In other words, “business continuity” has become a mandate.

While the world struggles with the impact of COVID-19, cybercriminals see it as an opportunity. Since February, IBM X-Force has observed a 4,300 percent increase in coronavirus-themed spam. While organizations worry about newly pressing concerns—workforce well-being, shift to remote work, finance availability, and the resiliency of operations and supply chains—cybersecurity focus is being overshadowed and risks are rising.

As social distancing measures abate, on the course of a possible second wave of coronavirus cases organizations will need to de-risk the enterprise and adapt operations to the “new normal” heavily influenced by the Coronavirus pandemic. This will require a thorough evaluation of pandemic-driven IT and cybersecurity changes, some of which were rapidly put in place during the response phase of the pandemic, followed by strategic adjustments of enterprise architectures, cybersecurity controls, and business processes based on long-term operating strategies. The most vulnerable is the cloud services, which offers significant cost, efficiency, resilience, and potential security benefits over data storage and application hosting alternatives. But these benefits require cloud services to be deliberately and strategically adopted and managed. Companies should consider:

• Adopting formal strategies for the use of cloud services.

• Developing complete inventories of current cloud usage in the enterprise, and rationalizing the use of multiple services.

• Defining data storage policies outlining the conditions required for the use of cloud services, data centre storage, and local storage, particularly for sensitive information.

The demand for a Cloud Security Broker

A cloud access security broker is an on-premises or cloud-based software that monitors cloud activity and enforces security policies. It can help detect and monitor cloud usage within the enterprise, enforce related cybersecurity policies, alert administrators of anomalous data flow, and guard against malware.

IT behemoth IBM clearly lists the following top 5 CyberTech trends in times of Covid-19-

1. Heightened Divide and Network Security.

2. Enhancing Digital Trust.

3. Securing enterprise assets, like content through enhanced Data Security measures.

4. Necessity of a Security Operations Centre.

5. Re-prioritizing Risk Assessment, to help assess the lacunas and devise preventive remedies.

The need of the hour is for enterprises to refresh cybersecurity policies to address pandemic-triggered IT capabilities, architecture, and processes. Organizations should consider conducting a risk assessment and identifying enforcement mechanisms, such as multi-factor authentication, single sign-on, and automatic logout from unattended devices.

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Cybercrime is an ongoing threat on the internet ever since it became our number one source of information

We spend a lot of our time browsing the internet and surfing the web, but we think little of our safety. Cyber-attacks and hackers are an ongoing threat that has been following the internet since it became popular. Being exposed to one could be really harmful for the victim of such crimes in both a psychological and financial way. So how do you protect yourself against cybercrime? What are the steps you can take to at least minimize the threat of being hacked or exposed? In this article, we will go over certain tips and hacks you can use in order to stay safer on the internet.

What is cybercrime?

As the name suggests, cybercrime is a form of threats, malicious intents, and hacks that happen in the online world. It can range from security breaches to identity thefts and financial exposing.

Cybercriminals often perform their attacks by targeting computer networks and devices. Realizing this is an important issue and making an agile cyber-security strategy will make the internet experience more safe and pleasant for every user.

Steps to take in order to protect yourself from Cybercrime

Anyone using the internet should exercise some precautions in order to prevent or minimalize any possible cybercrime or malicious intent. Here are some of the basic steps you should take into consideration:

1. Use strong passwords – Making complex passwords and changing them when using different websites is one of the safest ways to ensure that you do not get hacked. Making complex passwords means using numerals, capital letters or symbols in order to achieve maximum security for your account.

2. Make sure your software is up to date – Cyber criminals usually use exploits or flaws that occur in software in order to gain access to your system. Patching those flaws and updating your software will lower the chances of them being able to gain entry to any personal data or information.

3. Keep your social media private – As we live in a time where social media has a huge impact on society it is important that we know the dangers it can bring. Keeping your posts on the public is never a good idea. The more you share the more exposed you are to anyone who wanders into your account and exposing private information like your pet’s name or other personal information can expose the answers to common security questions.

4. Know when you are exposing yourself – Identity thefts can occur anywhere, whether you are traveling or sitting at your couch at home. Being tricked into giving away any personal information due to fraud or deception e-mails and messages could lead to potential identity theft or financial losses.

5. Start using VPN – With the widespread use of the internet all over the world it is best that you keep up to date with software and apps that will keep you safe online. With VPN you make sure you are not being tracked and keep your internet traffic unbreached. VPN is an essential internet tool that provides the best quality of security and anonymity when it comes to being on the internet.

What is VPN

VPN or Virtual Private Network is an essential internet tool that encrypts your internet data and masks your real-life IP address. Having the function of an internet shield and using tunneling protocols this software will be of most help when it comes to protecting yourself from cybercrime. By creating a single shared private network it allows you to have a safe and unbreachable internet traffic flow between you and the server of your choosing. Even though it may sound complicated this software is amateur-friendly and is relatively easy to pick up on.

Using this type of protection is probably the best way you can protect yourself from cybercrime no matter where you are located or what websites you are visiting. When we say it provides maximum protection we really mean it. From masking your IP address to encrypting any data that is being transferred between servers VPN can mask your internet activity even from the government, ISP (Internet Service Providers), and of course hackers and cybercriminals.

Essential features VPN should offer

Even-though the VPN software on its own is good enough to keep you safe from most of the cyber-attacks that can occur, there are some essentials to look for in VPN in order to achieve the best possible chance to protect yourself from cybercrime:

• Fast connection speed

• Strong data encryption

• High-quality security protocols

• 24/7 available customer service

• Detailed and secure privacy policies

• Value for money

• Software availability and amateur-friendly interface

There are a lot of VPN providers on the market right now and each one has a different offer on the table. Although the essence of the software remains the same there are different variables that you should look for in order to achieve the best possible deal and safety.

You should always do your own research and opt for the VPN that will suit your needs the most. What we mentioned above are some of the main features to look for when searching for a VPN but only you know what suits your needs the best. Given the fact that this is a service that is being paid, you should see what kind of offers suit your needs the best and choose the one that will provide the most for a certain amount of money.

We live in a time and age where our possibilities keep expanding day by day via the internet and security is something we should not neglect in any shape or form, that is why you should start using VPN as from today and make sure your identity is always secured and anonymity guaranteed.

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We all live in a world that is plugged in together, from internet banking to government infrastructure, and hence, network safety is not, at this point a superficial issue. Cyberattack is presently a universal concern, as certain prominent breaches have provided various concerns that hacks and other security assaults could jeopardize the worldwide economy.

Our general society is more technologically dependent than ever before and there is no sign that this pattern will slow down. Personal information that could lead to data theft is now presented to the society on our online social media accounts. Confidential data like social security numbers, credit card data, and bank details are currently stored in cloud storage services. The truth is whether you are an individual, small organization, or large scale multinational, you depend on computer systems consistently.

This gives rise to the need for efficient cybersecurity systems. Cybersecurity can help fight these digital pathogens and additionally keep your data safe. Organizations must deploy appropriate cybersecurity measures to keep their data safe and look to protect themselves from any kind of malicious cyber activity.

Cybersecurity is significant because it encompasses everything that relates to securing our confidential information, personal information, healthcare data, intellectual property, financial data, and administrative and industry data systems from theft and damage initiated by lawbreakers and enemies.

Cybersecurity is one of the most significant factors to consider when working over the web, LAN, or other systems, regardless of how little or huge your organization is. While no system is exempt from these digital attacks, a steady and effective cybersecurity system is important to protect customer data. A decent network security framework assists businesses with reducing the danger of falling victim to information theft and damage.

It shields your workstations from harmful spyware. It additionally guarantees that shared information is kept secure. Network security infrastructure gives several levels of insurance to prevent malware assaults by separating data into various parts, scrambling these parts, and transmitting them through autonomous paths.

Cybersecurity will play a major role in reducing cyber crimes in the future because due to the abundance of data there is a high risk of misuse and theft. Getting connected to the web implies that you will get heaps of traffic. Tremendous traffic can cause stability issues and may prompt vulnerabilities in the system. Cybersecurity facilitates the safety of your network by restricting lagging and downtimes through constant analysis of any dubious transaction that can disrupt the system.

To increase security and reduce the risk of cybercrime it is important to take certain steps. Firstly, it is important to educate and train all the employees of your organization about the risk of cybercrime and common digital threats such as phishing emails and unrealistic schemes and offers.

A balanced education in cyber and network security can provide you various common techniques hackers use to access systems and give you the hands-on preparation you need to think past simple security strategies and prevent even a highly specialized, efficient cybercriminal from getting in.

Secondly, the organization must try to invest in tools that restrict data theft, analyze your third-party risk, and fourth-party vendor risk and constantly examine your data for any leaks. Lastly, enterprises must focus on deploying advanced technology to fight cybercrime and also come up with an overall efficient cybersecurity strategy. This will help them to reduce the risk of cyber threats.

The future of cybersecurity looks very promising. Besides, as increasingly more high-value data, (for example, healthcare information, contact information, financial data, etc.) is gathered, stored and shared through connected digital environments throughout the following decade and beyond, the demand for cybersecurity expertise will explode to combat the expected increase in cyber hacking and criminal activity.

Cybersecurity in the future is most likely going to be systems that can be immunized against known attacks and can perceive potential dangers and react much as our immunity system reacts. This combined with strong authentication that serves to restrict intrusive digital diseases will provide us with much stronger systems.

As more organizations join the digital era to store, record and use information as a major aspect of their models, we are hopeful these associations will have solutions set up to safeguard against approaching cyber threats. The future of cybersecurity will have an immense range of endpoint solutions, security monitoring platforms, and improved authentication procedures.

Cybersecurity will continue to evolve to tackle the growing rate of cybercrimes all around the world. Advancements and innovations in cybersecurity will help to protect our digital economy and build digital trust.

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As the world moves to the cloud, there has been a debate that surrounds enterprise to address phishing attacks, and ransomware attacks.

The COVID-19 pandemic has forced enterprises to embrace the new normal, and cyber criminals around the world undoubtedly have been capitalizing on this crisis. In a survey, about 61% of the security and IT leader respondents are concerned about an increase in cyber-attacks targeting their employees who are working from home. They’re right to be concerned; according to the survey, 26% have seen an increase in the volume, severity, and/or scope of cyber-attacks since mid-March.

The Center for Internet Security’s (CIS) Security Operations Center (SOC) has seen a marked increase in remote desktop protocol (RDP) exploitation, likely due to malicious attempts to exploit teleworking capabilities. The Multi-State Information Sharing and Analysis Center (MS-ISAC) and Elections Infrastructure Information Sharing and Analysis Center (EI-ISAC) Security Operations Center (SOC) has seen an increase in cyberattacks.

Countering Covid-19 and Cyberattacks–

The Multi-State Information Sharing and Analysis Center (MS-ISAC) and Elections Infrastructure Information Sharing and Analysis Center (EI-ISAC) Security Operations Center (SOC) is seeing an increase in specific types of attacks that revolve around sound cyber hygiene, including increased vigilance from employees. Here are how cyberattacks are so dangerous for the enterprise-.

• Phishing – Enterprises must remind their employees to be cautious when opening emails, especially those from outside the organization. They should exercise caution when keying their credentials into a website, linked from an email, text message, or social media account, or when downloading attachments.

• Securing Passwords– While Covid-19 may have pushed enterprises to make services available to employees remotely, without the time to secure accounts through multi-factor authentication (MFA). Along with securing accounts with MFA, employees should make sure all passwords are secure, and should never reuse passwords on different accounts.

• Remote Desktop Protocol (RDP) Targeting – An increase in the number of employees connecting remotely implies an increase in the number of systems that are potentially being scanned. If an enterprise’s workforce needs to access systems remotely, the C-suite must ensure limited and secure access by VPN to reduce the attack surface.

• Distributed Denial of Service (DDoS) Attacks – Downtime from an attack is critical with remote workforce. A larger remote workforce can even act as an unintentional DDoS attack, when multiple users try to access services at the same time. Enterprises must ensure their employees are protected against DDoS attacks, with an increased bandwidth allocation read. Enterprises must temporarily disable unused services, and discourage their employees from streaming videos, music, or other streaming services through the VPN.

Securing Employee Home Networks

Though conducting business through a VPN can add a layer of security, there are simple steps employees can take to secure their home networks. Employees must know what devices they are using while working from home. Enterprises must practice smart password management and enable two-factor authentication (2FA) wherever possible, besides enabling automatic updates for all routers and modems.

The dust surrounding Covid-19 is still settling. To get back to normal, and issue business has a continuity addressing rapid expansions of digital commerce channels as consumer behaviours shift dramatically.

The post How Would Cybersecurity Change in the Post Covid-19 World? appeared first on Analytics Insight.

What role security leaders play to manage organizational workflows during and post the pandemic?

There is no wonder that the outbreak of COVID-19 has deeply impacted every aspect of business and put organizations at standstill. In uncertain situations like the ongoing crisis, the role of leaders, especially security leaders, becomes crucial when it comes to leading change. They have the potential to deal with any situation as they learn from that and make effective decisions and take appropriate actions for their business. A security leader within an organization oversees business operations closely while preparing for the prospect of risk.

They might be confronted with an increasing number of questions, whether from internal people, administration, or customers. Security leaders must respond to those queries to enable business continuity and deliver effective decision-making to ensure cybersecurity risks. During the crisis induced by COVID-19, their responsibilities extend even further, making them to focus on threats that are likely introduced by networked devices and personal devices connected at work and home alike.

COVID-19 Accelerates the Need of Security Leaders

Since the pandemic has deeply impacted businesses around the world, it has also led a unique set of cyberattacks. According to a survey, as of April 2020, 41 percent of respondents witnessed at least one cyberattack related to COVID-19 in the last 12 months. Moreover, 96 percent of respondents have developed response strategies to the pandemic, while 75 percent of business and security leaders acknowledged their COVID-19 response strategies are only somewhat aligned.

Undeniably, the threat of cybersecurity has been fuelled over the last few years. And this is disrupting not only daily business operations, but also hurting an organization’s reputation. The increasing reliance on digital infrastructure, adapting to the work from home business model and adopting local technologies are majorly creating an attack surface and enabling access to these technologies and devices for malicious actors. This paradigm shift is putting immense pressure on cybersecurity leaders to safeguard their businesses and workers in the time of crisis.

As cybercriminals are often in search of exploiting user devices, critical business assets, and functions during the COVID-19 pandemic are significantly more exposed. This is not only giving the opportunity to cybercriminal organizations, but also nation-states to exploit vulnerabilities and plant malware and ransomware type of threats for future attacks. IT services and healthcare among others are the most vulnerable sector to these attacks.

Moreover, cybersecurity is not a fiduciary responsibility or challenge for only the security leaders and IT teams, rather, this is the accountability of the entire organization to step up activity and communications to build a strong culture of security. Cybersecurity leadership plays a significant role by establishing clear and trustworthy communication, bringing all members, from C-suite level to lower-level staff within a company, on a similar table. Subsequently, they listen to everyone’s outlook on a particular situation and develop a strategy based on that to ensure the security of the organization.

The post Demystifying the Role of Security Leadership During COVID-19 appeared first on Analytics Insight.

With data being stored, there needs to be a data center security strategy if the data will be managed properly. Experience shows that it only takes one data breach to devastate a company and cause long-term financial, legal, and PR nightmares.

Some enterprises store and manage their data internally. Others have migrated their data to the cloud, trusting their data storage and security to other companies. One of the first questions that needs to be asked when discussing data center security is whether critical workloads are insulated from external cyber security threats.

There have been several trusted data centers that have experienced massive data breaches. When these data breaches make headlines, customer confidence is shaken, stock prices fall, and the businesses responsible for maintaining the breached data may close their doors.

According to Forbes, data breaches exposed 4.1 billion records in the first six months of 2019 alone. Often, there is a link between data center breaches and the desire to cut corners to save money. The absolute last thing any organization wants is to end up spending millions of dollars to solve a problem that could have been avoided if they had not chosen a cheap hosting solution.

There are secure hosting solutions that don’t cost you a fortune, but they’re suitable for small businesses rather than large organizations. Your business needs an architecture that best meets your requirements, whether it be cloud-based SaaS or IaaS, on-premise or hybrid architectures. PAM as a service solutions are a great option as you can rely on experts to implement, optimize and manage solutions that can be challenging. Whatever the case is, cybersecurity infrastructure is something you must invest in to keep your sensitive data safe, secure, adequately protected, and taken care of the best way possible.

Many data center breaches can be prevented if there is a zero trust model that has been adopted. This zero trust mindset involves the design of the physical structure in which the servers are stored, how the network racks are designed, and every other component that is used when designing the data center.

What Is Zero Trust Architecture?

Zero trust architecture is a relatively new concept that has grown out of the need to provide protection against sophisticated hackers and malware. We live in a world where there are billions of Internet of things devices and devices being connected to the cloud. Zero trust literally means that there is no perimeter that is trusted.

Every single device that tries to connect to a data center is not trusted, and each device or user can only receive the least privileged access. Even after a device or user has been authorized, their access is capped at the lowest level. Zero trust architecture is designed to stop security breaches in their tracks.

Traditionally, security models operate on the assumption that an internal network can be trusted. However, trusting activities on an internal network have done little to minimize the number of cyber attacks and insider threats that have plagued data centers. Therefore, the zero trust architecture method has been employed.

This could require the use of the next generation of firewalls that have decryption capabilities. Current security models focus on protecting the perimeter of a network. However, once the threat is inside the network, it is free to grow and to adapt as it chooses. The result is that sensitive business data stored in a data center is vulnerable for extraction.

The Role of Security Layers and Redundancies in Protecting Data Centers

You must use security controls and the system checks as part of the structure of a data center. This includes software systems and the design of the building. Security layers can fall into physical or digital categories.

Physical Security Requirements for a Data Center

As with most things real estate, everything starts with the location. When determining the most secure location for a data center, it’s good to test the geological activity in the proposed construction site. Is there a risk of flooding? Are there other high-risk industries in the area? If so, these could impact the physical security of the data center.

There is a little flexibility in picking a physical location as some natural security risk can be mitigated with the construction of barriers or including extra redundancies in the building’s design to protect against flooding, earthquakes, etc. However, if the option exists, it is preferable to avoid conditions that could affect the physical security of the data center.

When it comes to the building and the grounds, there are several security measures that can be employed, including fencing and walls and minimizing entrances to the property and building. Extra backup power from UPSs and generators must be included in the infrastructure. Security features like man traps, which create airlocks separating two separate doors and require authentication to enter both doors, are a must.

The design of the data center should allow authorized maintenance staff to perform their tasks and freely travel between all the buildings on the grounds without giving them unsupervised entry or access to sensitive materials. The initial construction should consider future expansion if that becomes necessary.

Digital Security Layers in Data Centers

Intrusion detection and prevention systems can alert security personnel of advanced persistent threats. Advanced persistent threats are typically carried out by hackers who have a clear goal in mind. They are not just looking for random data, but they have something that they want to collect.

Detecting advanced persistent threats in a data center requires real-time monitoring. The network and system activity needs to be constantly scanned. An alert needs to be sounded if there is an unusual event. Examples of unusual events might include:

• A rise in the number of users who have elevated rights or who are accessing the system at random or at unusual times.
• A jump in service requests that might show a distributed denial of service attack.
• The appearance of large data sets or extensive data sets migrating around the system.
• Enormous data sets being extracted from the system.
• A rise in phishing scam attempts that target high-level privileged personnel.

To address these types of attacks, intrusion detection and prevention systems can store a baseline of typical system states. These are checked against network activity in real time. Abnormal activities trigger a response. Artificial intelligence, machine learning, and artificial neural networks are increasing the effectiveness and potency of intrusion detection.

Data center security should be taken seriously. This is because more organizations are migrating their mission-critical services and workloads to hosted servers and are opting using cloud computing infrastructure. This makes data centers the prime target for nefarious individuals.

It is imperative that organizations compare their actual practices against best practices and make the needed adjustments to maintain data center security. The worst thing that an organization could do is wait for a breach to occur before they act to protect their data. No organization wants to be the next headline on the news because a breach in their data center led to private information being exposed.

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Incorporating Strategies and solutions, and identifying the threat areas in cybersecurity network would help in minimizing the risk associated with using Artificial Intelligence

Any technology is a double aged sword. It has Pros and cons. And while pros are imperative in governing any organization, the cons reflect the flaws of technology which is hard to ignore. Hence Artificial Intelligence is no exception for being a threat, especially for cybersecurity.

Over the years, the threat regarding AI concerning cybersecurity has grown. Despite AI being used by Businesses and enterprises for facial recognition and to improve the business environment, its risks and threats are undeniable. With advanced AI, cybercriminals are now more rampant in attacking organizations, businesses, and political institutes. Even social media platforms are at the frontline for being abused by cyber malware.

In 2019, the Israeli Spyware Pegasus raised an alarm about the use of Artificial Intelligence in infringing cybersecurity. It exposed the most underestimated misuse of AI for privacy violations. However, Pegasus is not the only malware that reflects the flaws of AI in cybersecurity. The manipulation of political systems, threat to national security, discrimination, and misuse of customer data are amongst the listed threats of AI that threaten cybersecurity.

Hence, the organizations require being more vigilant in understanding the security threats with AI, in augmenting the data processing and identifying the necessary measures required to implement AI with cybersecurity.

In October 2019, the World Economic Forum has listed cyber attacks amongst the ten global risks of immediate concern. It is estimated that businesses worth $US 90 trillion can be lost in 10 years if necessary actions are not taken to combat cyber attacks.

Prioritizing Imperative Cybersecurity Areas

The amount of convoluted data received by different web portals, social media, mobile devices, sensors, and the internet of things is voluminous. It becomes difficult to identify data malware, which is often veneered in the form of anonymous data.

Often the security snags within a company act like a loophole through which data can be discriminated by weaving zip code. This infringes on the privacy of users.

Hence it becomes imperative for any organizational set up to identify the areas that require utmost attention, recognize the absent risk management system, and strategizing a solution to recognize and fix the threat incorporated with cybersecurity.

This can be accomplished by automating cybersecurity with AI, to facilitate certain decisions in cyberspace. The risks and threats with the cyberspace must be categorized, listed, and rated. This segregates the vulnerable points in the cybersecurity network that requires an immediate strategic solution to block the cyber attack.

Supplementing Current Cyber Capabilities

Incorporating, an AI-driven cybersecurity model to augment current cyber capabilities aids in analyzing the potential threat within the network. It advances the quality and efficacy of cybersecurity operations, recognizes the abnormal patterns in operations, enhances detection and response, reforms the classification of data, prioritizing vulnerabilities, and deepfake detection and analysis.

Identifying ways through which AI adds value to a cybersecurity Network

The relationship between AI and cybersecurity is pivotal for any organization to function smoothly. It is a proactive approach that provides insight into the ongoing operation to anticipate a threat and respond to it. It promotes AI to make data-driven decisions. Thus protocols, policies, procedures, and stringent measures are necessary to understand the relation between AI and cybersecurity methods. This provides control over the risk management system and helps in chalking out strategies for improved cybersecurity.

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Understanding what is ransomware and why does it pose serious cybersecurity concerns

As we keep updating our cybersecurity measures, ransomware operators too have realized that there are alternative ways of monetizing the data they have encrypted. This can be cited as one of the main reasons ransomware attacks grew by 118 percent in the first quarter of 2019. And with the increase in the cybercriminals and affordability of the hacking code, ransomware activities will continue to proliferate in 2020 too. According to a research report, the most common target areas include entities engaged in public services such as municipalities, schools, and healthcare providers. When the demands are not met, perpetrators have published confidential information.

The report also mentions that the nature of attacks is changing, with more focus on enterprises (rather than individual consumers), larger payment demands, and more targeted approaches deployed. The aggression of the attackers and the value of the impact on businesses is also more pronounced. Also, the emergence of Ransomware-as-a-Service (RaaS) is enabling scaling of ransomware services through the dark web.

Origins

Ransomware is a malicious software attack in which the attacker locks and encrypts the victim’s data and then demands a payment to unlock and decrypt the data. Besides, it can cause downtime, data loss too. It first originated in 1989, code-named AIDS, or the PC Cyborg Trojan. The ransomware was sent mostly to people who are associated in the healthcare industry using a floppy disc. The ransomware counted the number of times the PC was booted: once it hit 90, it encrypted the machine and the files on it and demanded the user to ‘renew their license’ with ‘PC Cyborg Corporation ‘ by sending US$189 or US$378 to a post office box in Panama.

WannaCry

But this term made massive shockwaves around the world and entered the public lexicon when ransomware, “WannaCry” rolled on Friday 12 May 2017. It took down systems associated with world government organizations, public transportation, national telecommunication companies, global logistic companies, and multiple universities across 150 nations, causing estimated damage of US$ 4 billion. However, WannaCry was a scattergun attack; i.e., it did not target any specific entity or individual. That didn’t mean it was not deadly. This ransomware demands US$300 in bitcoin for unlocking encrypted files – a price that doubles after three days. Russia suffered the highest loss due to WannaCry targeting Russian banks, telephone operators, and even IT systems supporting transport infrastructure.

Key Trends

According to the latest data sourced from various news articles, reports here are some of the key trends we can see in ransomware:

• Most of the ransomware attacks are on small and medium scale businesses, who are less likely to be well-defended and prone to an active infection.

• Publication of victim files will become more popular as the prices demanded by perpetrators keep increasing. Further, there is also the possibility of auctioning the stolen data. E.g., earlier this year, REvil began auctioning data which it claims was stolen from Canadian agricultural company Agromart Group, which includes Sollio Agriculture and promised there would soon be more victims to highlight.

• Healthcare Industry will continue to get the main target for the ransomware attacks. This is ironic since most of the perpetrators assured not to try and hit healthcare organizations, amidst

• COVID-19.The market for Ransomware as a service (RaaS) will flourish as it is the perfect way for inexperienced cybercriminals to get started in this cybercrime. Currently, even the underground black market forums are flooded with ads for different RaaS offerings at all price points. Sometimes, the sellers provides full tech support which teaching the attacker how to execute an attack. The purchased code is then further modified by the purchaser. This is to ensure that the security products which may have seen and prevented the original code will likely fail to do the same with the modified version.

• Increased partnership with other cybercriminals. The ransomware gangs have discovered that they could conduct more coordinated and evasive attack campaigns by teaming up with other malware agents like banking Trojans and remote-access tools (RATs). E.g. In March, security researchers uncovered a website that claimed to be the legitimate download portal for a system utility that improves the performance of Windows systems. In reality, the fake software downloaded two files onto a victim’s machine. One of the files, “file2.exe,” dropped a “coronavirus ransomware” payload that encrypted a victim’s data. This threat provided cover for Kpot-a password-stealing Trojan dropped by “file1.exe”, which stole a victim’s information and then uploaded it to a remote server under the attackers’ control.

Though this is the nascent phase for ransomware it has had a tremendous notorious impact on the world and cybersecurity industry. While new strains of ransomware are being developed and launched worldwide, people still struggle with old threats like WannaCry to date.

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Since 2009 when the world was introduced to Bitcoin, cryptocurrencies have gained in value and traders. Today, the market capitalization is over US$300 billion, and experts predict we will continue to see an increase in the value of cryptocurrencies. While this is welcoming news for crypto traders, hackers looking to get a piece of the pie disrupted the market, stealing user logins and their funds. In 2019, investors lost $292,665,886 million worth of cryptocurrency. Security breaches are on the rise, fueling crypto traders’ need to take extra precautions when using exchanges and storing their cryptocurrencies. Before we look at the safety practices you can use to keep your crypto wallet safe and secure, let’s talk about some security risks.

What are the security risks?

Hackers are leveraging COVID-19 to exploit individuals. Online security risk surged in the early stages of the pandemic, with malicious attempts becoming more sophisticated. Unfortunately, the crypto market has not been spared from these attacks. The following are three security risks crypto traders are faced with:

• Investor scams

Scammers posing as crypto traders or exchanges claiming high returns on cryptocurrencies have tricked unsuspecting victims. The scammers use social media and emails to target users. Bitcoin is the dominant cryptocurrency on the market; it has been the most exploited digital currency for scammers.

• Phishing scams

Emails claiming to come from legitimate sources such as charities and government agencies are increasing during the pandemic. Using COVID-19 as a cover-up, these phishing scams encourage persons to click on links to donate or purchase personal protective equipment. These links take persons to malicious sites where personal information can be exposed to hackers, including private keys for crypto exchanges.

• Ransomware

With ransomware, a malicious program encrypts your system and files, then asks for a ransom to return or decrypt the files. Some ransomware programs request payment in cryptocurrency.

5 ways to protect your crypto wallet

Despite these security risks, crypto wallets remain one of the best options to secure your cryptocurrencies. How can you protect your wallet from malicious activities? Here are five ways:

• Use a reliable password manager

The code for your private keys, which gives you access to your crypto wallet, can be challenging to remember. That is a security tactic. Rest easy by using a reliable password manager to store and retrieve your code. This means you will not have to worry about forgetting your private keys and being locked out of your wallet.

• Download a VPN

A Virtual Private Network (VPN) app is another way to strengthen your security. A VPN can encrypt your online connection, blocking hackers from monitoring your crypto exchanges. Many crypto traders use this tool to ensure their anonymity online.

• Use two wallets

Consider keeping a small amount of cryptocurrency in your online wallet for trading purposes and keeping the rest in an offline wallet or ‘cold storage.’ That way, if malware tries to intercept your password for your online wallet, the rest of your funds are safely stored on a hard drive, USB, or paper and out of hackers’ reach.

• Use two-factor authentication

Instead of using only one password to access your crypto wallet, two-factor authentication bolsters your security by requiring an additional code. The code can be sent to your phone as a text or an email and is only valid for a few minutes.

• Update device software and antivirus

One of the best ways to fortify your device to reduce vulnerabilities is regularly updating the software and antivirus solution. These regular updates remove
vulnerabilities as soon as they appear to keep your device safe from malware attacks.

While you enjoy the delights of being a crypto owner, there are security risks that can make your crypto wallet volatile. This is why you should employ the right security measures to avoid security breaches. The tips provided will improve your online security and help protect your crypto wallet.

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Without the proper patch, app vulnerability could lead to Android users having their personal data exposed by attackers. This is because of a critical flaw that has been exposed in Android devices that are running Android 9.0 and older. This means that up to 90 percent of Android users could be susceptible. If cyber criminals exploit this security hole, hijackers can steal a victim’s sensitive data.

Thankfully, there have not been reports of malware that exploit this vulnerability being used by cyber criminals. Android released a patch in April 2020 for Android users who have Android version 8.0 and 8.1. An additional patch for Android 9.0 was released shortly thereafter.

The thought of having sensitive data released through an app should be enough to give most app users pause. This is because of the amount of information we store and transmit via our apps.

Just think how everyday millions of people in the US and UK are turning to stock trading platforms to make money and supplement their income. These individuals are trusting their financial present and future to the information they transmit and store on these apps. Having that data compromised could literally put their financial future in jeopardy.

Allowing Apps to Access Your Data Can Be a Catch-22

In 2017, FaceApp was released. During the summer of 2019, this app, which showed people what they would look like if they were older, went viral. In just a few weeks they added 12 million new users. You could not go on social media without seeing your friends putting up their photographs of them looking aged and wrinkled. The app proved to be quite entertaining.

When users accepted the terms and agreements of FaceApp, they were giving the publisher the right to reproduce, adapt, and publish the name or likeness provided. It shocked users when they realized that the company behind FaceApp was based in St. Petersburg, Russia. There was a legitimate fear among many that key sensitive personal data had been handed over for a funny-looking selfie.

This is just one example that shows the catch-22 of allowing apps to access your sensitive data but wanting to maintain privacy. Many apps request permission to access your camera, location, microphone, and files. This is all the sensitive information gathered on your device.

Interestingly, while many people believed that FaceApp was stealing personal information, the truth is that users voluntarily gave it away. Most users fail to understand who is behind the creation of the apps that they use. They don’t understand what these app creators can do with personal data, so they voluntarily grant access to data to apps that don’t legitimately need access. This opens people up to be victims of data abuse, scams, and hackers.

Cyberattack scenarios are extremely dangerous with apps that collect sensitive data such as health information, location, contacts, or finance-related apps – such as stock trading apps Robinhood, Acorns, and Stash – online banking apps, online shopping apps, basically anything that has your financial information such as credit card number. It’s important to enable two-factor authentication and create strong passwords to avoid any inconvenience. However it won’t be useful without checking the permissions you’re giving before you accept terms and conditions – some apps are specifically designed to steal your data.

What Things Should Users Consider When Examining Their App Use and Practices?

When you use any app, privacy should be first and foremost on your mind. Most apps will publish their privacy policy. Unfortunately, users don’t always read this policy but simply click “accept” because they want to use the latest app.

This complacency is dangerous. App users should feel uncomfortable about having apps access private information on their devices.

It is not wrong to use a free app. However, users need to understand that the makers of free apps, like every other app maker out there, want to make a profit. If they cannot make money by charging you for the app, they will look at alternative ways of making money. As a user, you are usually trading privacy and data for the use of a free app or service. The same is true with free social media tools and web browsers. They make their money by mining user data and selling the information to advertisers.

You should be concerned about what companies are doing with your data. It does not matter if they are scrupulous or nefarious. They will sell your data for advertising. They might target you for political advertising. Worst-case scenario, nefarious organizations will use your information to perpetrate identity fraud, financial hacking, or even some form of espionage for the organization you work for.

There is no telling where your data can end up. For example, your data could fall into the hands of companies that provide information for background searches. It’s easy to imagine the damage that could be caused if private information on your cell phone fell into the hands of a would-be employer or landlord. When you grant access, you are putting yourself and your information at risk.

What Role Do Developers Play in Keeping Your Private Information Safe?

Many argue that app developers should be more responsible for ensuring that user’s private information is protected. However, app developers are not in the business of privacy. They want to make money.

Sometimes, maintaining user privacy and making a profit go together. For example, financial apps and apps that have access to banking accounts such as payment solutions, Social Security numbers, etc. usually benefit if users feel confident that their private data is being protected. Apps that have financial data are prime targets for hackers. And these app developers realize that if their apps get hacked or if their user’s private information is disclosed, they will lose clients and money and may face legal action. In these cases what is in the best interests of the end-user as far as privacy is concerned is in the best interests of the app designer.

However, app designers in other fields are not taking encryption and other forms of security as seriously as many believe they should. Many believe that app stores, like Apple App Store and Google Play Store, should be stricter in enforcing security standards, especially for apps that have access to sensitive data.

At the end of the day, it is the user’s responsibility to be serious about protecting their data. You should see your data as if it were the same as your net worth. For many businesses, your data is worth its weight in gold.

Take the time to read user agreements before you download an app. Understand permissions before you say yes. Read the fine print. And look at reviews of others who have used the same software. All of this can help you protect yourself from apps that could potentially exploit your data.

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