EXPERT FORECAST: THE BIGGEST CYBER THREATS TO LOOK OUT FOR IN 2023

 

With the accelerated growth of the Digitalised market and increased momentum of Digital transformations, Cybersecurity becomes the number one priority in multiple dimensions. 

In 2022, the market faced malware attacks, phishing, Social Engineering and data leaks that led to sensitive data losses, financial losses, credibility of the organisations, and in some worst cases complete shutdown of the organisation under attack. Attacking government installations, especially critical infrastructures, are getting marked as specific targets by Hacktivist and cyberterrorists.

Keeping all these incidents under consideration, Digital world is entering the new year 2023 with at most precautionary measures and reinforced defences. Learn about the latest trends and threats and take action to protect your business or organization from these threats now .

Cybersecurity Predictions 2023

1. Ransomware
2. Cloud Attacks
3. Critical Infrastructure Attack 
4. Phishing or Deep Fake Enabled Business Compromise 
5. API Ecosystem

Ransomware

AIDS Trojan, WannaCry, Cryptolocker, Petya, Bad Rabbit and Reveton don't these names sound familiar and scary at the same time? They indeed are scary malicious software or malware called Ransomware. Ransomware are specifically designed malware to attain access to sensitive data in one way or another and encrypt the network to deny access of rightful personnel. They demand ransom for the decryption key to regain the rightful access. 

If Organisations prioritise cyber security, Vulnerability Assessment and Penetration Testings shall be undertaken to fill up the security gaps. This step can immensely reduce the probability of cyber attacks. Even with preventive measures, the chance of a Ransomware attack is awfully high.

While targeting an organisation with a ransom attack,  Cyber attackers leverage the strategic and sensitive data without which the organisation could be crippled. Routine operations can be affected because of denial of access to important files and documents causing inconvenience to the organisations and their customers.

In the worst case scenario, organisations may be forced to shut down completely or reduce their operations significantly until the issue is solved. Thus organisations under attack are compelled to pay the ransom to restore access to the data.

Even after ransom payment, there is no guarantee of regained access or genuine decryption key from the cyber attackers. Unpredictable nature of attackers increases the probability of losing both data as well as the ransom amount, causing organisations to face downfall in multiple ends. IARM is an Information security company specialising in Ransomware recovery services. Consult IARM for more information on recovery services.

Also read: Top 5 Cybersecurity Predictions for 2023

Cloud Attacks

Cyber attack on a Cloud computing system with malware or malicious code is called a cloud attack. Typically Cyber attackers inject a malicious service into the cloud to create malicious service implementation modules or virtual machine instances that could be related to SaaS, PaaS or IaaS. Cloud service providers with Open cloud based systems, Virtual machines, storage buckets and containers are much vulnerable to cloud attacks.

DDoS attack, Hypervisor DoS, Hypercall Attacks, and Exploiting Live migration of virtual machines or applications are the most common form of attacks cyber criminal launches on Cloud based organisations. 

With swarming of thousands and thousands of botnets flooding the network creating a malicious traffic to slow down the network, Hyper Calling the network pretending to be a guest and exploits the organisations' Virtual machines or HyperJacking with a rootkit, Cyber attackers breaches and loot strategic and sensitive information. 

As a preventive measure, Cyber Security Audit, which can identify most of the safety issues and vulnerability Assessment can be conducted periodically in order to maintain the cloud fortified.

Also read: Why Is A Vulnerability Assessment Critical For Your Business?

Critical Infrastructure Attacks

Critical Infrastructures are installations that provide critical services to the market, people and Governments in general to perform day to day works smoothly. Generally Communications Sector, Commercial Facilities Sector, Critical Manufacturing Sector, Energy Sector, Defense Industrial Base Sector, Healthcare and Public Health Sector, Nuclear Reactors, Materials, and Waste Sector, Transportation Systems Sector, Information Technology Sector And especially Financial Service sector.

One thing common between all these sectors is, DIGITALISATION of whole or partial operations. Ranging from Power grids to Nuclear reactors, every step of operations are digitised and it can be leveraged as Achilles heel by vested interestOne thing If one sector falls under an attack, the whole industry and in the worst case the whole country could easily become standstill. It is imperative to implement Cyber Security services for prevention of such attacks.

Critical Infrastructures usually possess unique vulnerabilities and security needs. So are Cyber attacks. Instead of attacking the data servers, Usually cyber attackers target the control system of the critical installation and attack the supply chain. 

These attacks on private infrastructures usually end up with ransom demands. But on Government installations, these attacks can easily escalate into a full blown cyberwar between state and non- state actors. 

Phishing or Deep Fake Enabled Business Compromise

Phishing is literally fishing data and information with a bait by leveraging ignorance of the to be victim. Scammers usually target the organisation through phishing emails in an attempt to gain access to sensitive data.

Email with a malicious link and a click bait message is sent by the scammers to employees. Once the link is clicked, malicious software specifically designed to clone access points, can create access of sensitive data to the scammers. Spear phishing, Whaling, Smishing are some most commonly used techniques that organisations should be aware of.

Along with Cyber security services, Awareness among the employees about white listed and black listed apks and websites links in order to minimise the probability of Phishing emails getting opened.

Deep fake technologies are sophisticated and advanced forms of Phishing. These Cyber attacks use deep fake technologies with artificial intelligence and machine learning algorithms to generate realistic-looking images, videos, or audio recordings of individuals. With a newly created identity. 

Fake technologies impersonate themselves as a legitimate individual or entity and gain access to sensitive information and resources. As the fake entities are created by specialties AI and ML, even highly trained professionals fall short in identifying the malicious intent.

In layman’s term, Deep fake technologies are sophisticated burglars that can potentially engineer its own access in the to network and steal the whole set of sensitive data. Usually Start ups fall prey to this attack.

Also read: Cyber Security For Startups

API Ecosystem

Maximum utilisation of Applications can be witnessed in the Service sector in order to connect with customers, providing end to end services, collecting feedback and also to communicate with inter departments of any organisation.

Cyber attackers utilise Application Program Interface  ecosystem as entry points in order to infiltrate the network for sensitive data exploitation. Probability of an API ecosystem attack is directly proportional to the number of intermediate and end users of Applications.

As the entry points from across the globe and numerous in count, Once attackers enter the API ecosystem, tracking the malicious program, Bots or rootkit is significantly low even by trained experts. 

Also read: Why Is Third Party Risk Management Important?

Global village is the accurate nomenclature to describe today's digital world. Collective work is generally strength, but in case, security can easily be a domino effect of failures. Cyberattacks on a Tech company in Silicon Valley can directly affect employees in a Bangalore based company.

A non-state sponsored cyberterrorist from whichever corner of the world can attack and paralyse the whole Railway infrastructure. Each and every sector of the global market and governments of the world are interlinked with the unicorn thread of Digitization, Information Technology and automation. 

This thread can be mutilated by starting in acute nature, as phishing, to critical infrastructure attacks that could cripple the entire country and its allies can be done with a skilled cyber attacker. 

Whether the organisation is small or large, whether mushroomed startup or an MNC, the only way to secure your company in 2023 is to regularly perform Penetration Testing, Compliance with ISO27001 Compliance Audit Services and AICPA, upgrading firewalls and educating the employees about precautionary measures against social engineering. Be Aware and Be Safe in 2023!!

5 Major Cyber Threats to Food and Agriculture Sector

The food industry has become a popular target for hackers. The reason is that the food industry is a centralized system, with many points of vulnerability. Hackers are targeting these vulnerabilities with the goal of disrupting food supply chains and causing economic damage to the industry.

In order to protect themselves from cyber-attacks, food companies need to take several measures. It is important to be aware that threat actors, including hackers and cybercriminals, may target businesses in the food and agriculture industry. Protect your digital supply chain with cybersecurity hygiene.

A major cyber threat to the food and agriculture sector is the possibility of data extraction. Threat actors may use a variety of tactics to target businesses in the food and agriculture industry, including:

1. Phishing attacks: These are fraudulent emails or messages that attempt to trick the recipient into divulging sensitive information, such as login credentials, or into clicking on a link that downloads malware.
2. Malware: This is malicious software that can infect a computer or network and allow the attacker to gain access to or control over the system.
3. Denial of service (DoS) attacks: These attacks aim to overwhelm a website or network with traffic, making it unavailable to legitimate users.
4. Ransomware attacks: These attacks involve the attacker encrypting a victim's data and demanding payment in exchange for the decryption key.
5. Business email compromise (BEC) is a type of cybercrime that involves the attacker gaining access to or control over a victim's email account and using it to send fraudulent messages to the victim's business partners or customers. In the context of the food and agriculture industry, BEC attacks can be used to steal large shipments of food products or ingredients

Food and agricultural businesses are at risk from cybercrime. But you can protect your organization with the right security measures. Join IARM as we explore the best ways to protect your business against these hazards

Here is an example of how a BEC attack might occur:

• The attacker gains access to the email account of an employee at a food or agriculture business, such as a purchasing manager or supply chain coordinator.
• The attacker begins monitoring the employee's emails to learn about the business's operations, supplier relationships, and upcoming shipments.
• The attacker crafts a fraudulent email that appears to be from the employee and sends it to the business's supplier, requesting a large shipment of food products or ingredients to be delivered to a different location than the one that was previously agreed upon.
• The supplier, believing the request to be legitimate, arranges for the shipment to be delivered to the new location.
• The attacker intercepts the shipment and sells the food products or ingredients on the black market.

To protect against BEC attacks, it is important for businesses in the food and agriculture industry to implement robust cybersecurity measures, such as using multi-factor authentication and training employees to be aware of the signs of a BEC attack. It is also important for businesses to verify the authenticity of any requests for changes to shipping addresses or other important details before acting on them. 

IARM, Cyber security company that specializes in the food and agriculture industry. We identify, understand and provide solutions to the risks you face everyday.  Our cybersecurity experts will assess your business and environment to identify vulnerabilities and provide a long-term solution for your IT needs and  protect businesses from the threats of malicious cyberattacks.

 Thanks and Regards,

Priya

Cybersecurity for food and agriculture sector | Industrial Cybersecurity Services

How to troubleshoot basic SIEM issues?

A good SIEM is the backbone of any successful cybersecurity strategy. It provides visibility into your security infrastructure and helps to detect, prevent, and respond to threats.

The importance of a SIEM cannot be overstated. In order to achieve a holistic view of your environment and protect it against the latest cyber threats, you need a best SIEM Implementation that is powerful enough to monitor all traffic - internal as well as external - in real time.

It is important to know the basics of how to troubleshoot common SIEM issues.

Some of the basic SIEM Issues that you can troubleshoot are:

-It is not possible to create a user

-It is not possible to make changes in the system configuration

-The system cannot be started

-The system cannot be stopped

The SIEM system is a powerful tool for managing and monitoring an organization’s IT infrastructure. The system has many modules in it that help the user to monitor and manage different aspects of their IT infrastructure.

SIEM is an open source, which means that it can be downloaded from the internet for free. It has been designed to be low cost and easy to use, making it a great option for small-to-medium sized companies. 

You will get the Best SIEM Implementation with IARM. Understand why our system is a Risk-Ready Security Solution rather than just a straightforward SIEM. You'll achieve the tranquility you want and be able to deal with the trickiest security issues. We take great satisfaction in offering the best SIEM strategy to any firm, vast or small.

SIEM is simply a software that is used for managing websites and other digital content. It can be used to monitor and track the performance of these websites.

It has a lot of features which make it easier to manage a website’s content, such as monitoring the performance of each page, detecting errors and fixing them before they become an issue.

It also helps in managing the security of the website by making sure that it is safe from malware, viruses and other types of threats.

Basic troubleshooting steps:

- Check if there are any updates available for your SIEM

- Check if your site has any malware or virus

- Check if your site has any broken links or dead pages

- Check if you have installed all plugins correctly

SIEM is a powerful open-source software that provides an integrated suite of IT management applications. It is used to manage and monitor networks, servers, and other IT resources. 

The goal of this article is to provide you with some basic troubleshooting tips for SIEM.  We're the best SIEM implementation vendor because we offer One-Stop Security Solution with Low Cost SIEM also known as  Zero-Product Cost SIEM.

You also read about SOC Operations and how it has been done.

Why Is SOC2 So Important For Fintech Companies?

Fintech companies are on the rise, but they still face the same challenges that have been a fixture of their industry. Banks and financial institutions have a longer-standing understanding of data security and privacy than other industries, which makes them an attractive option for fintechs looking to join hands with them.

A IARM's SOC2 report will provide banks and financiers with a detailed overview of its information security policies, practices and procedures – including whether its internal controls are effective in mitigating risk within each department.

 

Banking and financial companies are constantly being hacked and compromised. Some of the largest data breaches are from banks and financial institutions that store the most sensitive data in the form of electronic data; its unauthorised disclosure poses a major threat to company's reputations and credibility.

SOC2 compliance is important for fintechs to demonstrate the highest standard of information security in order to avoid any data leaks or fraudulent behaviour. It helps banks and other financial institutions to feel safe about the level of protection they’re getting from their new partner.

When banks are considering a potential partner, they look for financial institutions that deliver the highest levels of information security, and our SOC2 compliant company achieve this on every level. Conducting an audit is an essential first step in becoming SOC 2 compliant as it ensures that all relevant information management controls are in place and effective.

Being SOC 2 compliant signifies that the business has invested significant resources and has undergone intense inspection to make sure they uphold a high quality for its partner.

SOC 2 compliance opens the door for greater trust and transparency between financial institutions and fintech partners. By taking the time to get SOC 2 certified, a company can build a reputation for security, safety and confidentiality for their clients, which is essential to increasing customer loyalty. If a company has this as a primary concern, then it will be worth the effort of going through the process of getting SOC 2 certification

Ultimately, a SOC 2 attestation is proof that the company has taken great care in ensuring they meet the rigorous set of standards required to be SOC 2 compliant.

Conclusion

SOC 2 compliance is important for Fintech companies, because it is a recognized standard for security and operational procedures that protects information assets. There are many organisations that recognize SOC2 compliance, such as the American National Standards Institute (ANSI) and the Committee on Sponsoring Organizations (COSO).

When fintechs comply with SOC 2 they show that they value all aspects of data protection, which will earn them new business opportunities in the future.

Reach us for the best SOC2 Compliance Audit Service in Chennai | ISO 27001 Compliance

The Five Steps of Penetration Testing: The Penetration Tester's Guide

If you have ever had any questions regarding penetration testing and how it can help your business, then this post is for you. It contains a comprehensive overview of the penetration testing process, including five steps and why they're important.

The defensive tests included in an audit or penetration test (pentesting) are conducted against the environment's present defensive mechanisms. These tests range from looking into the victim's electronics to using social engineering to learn more about them.

This article provides an overview of the five steps utilised during penetration tests, so that you can avoid any risks.

Why Do You Need a Penetration Test?

If the precautionary measures had been tightened at the time, many incidents that happen in organisations may have been avoided. Data loss, unauthorised access, and information leaking are just a few examples of incidents. The audit of the security measures must be proactive so that the pentester, or person doing the audit, may point out the problems and fix them before a hacker takes advantage of the vulnerability.

Pentesting Procedures

The Penetration Testing Process begins well before a mock assault. This will make it possible for ethical hackers to evaluate the system, look into its advantages and disadvantages, and determine the most effective strategies and tools for getting into it.

In this brief, I will introduce you to five steps of penetration testing. By using these methods, firms may avoid spending money and time on possible problems brought on by application vulnerabilities.

Planning and reconnaissance, scanning, gaining system access, establishing persistent access, and the final analysis and report are the five steps of the penetration testing process.

A Step-by-Step Guide for a Penetration Test: 

Planning and Reconnaissance - The initial penetration step involves preparing for a hostile attack with the goal of learning as much as possible about the system.

The system is evaluated by ethical hackers, who look for vulnerabilities and evaluate how the organisation's tech stack reacts to system breaches. This is one of the time-consuming phases. The types of information requested range from IP addresses and network topology to employee identities and email addresses. It should be noted that the type of information or the depth of the study will depend on the audit aims. Social engineering, dumpster diving, network scanning, and domain registration information retrieval are a few of the data collecting techniques used.

Scanning

Based on the results of the planning phase, penetration testers use scanning tools to look into network and system weaknesses. This pentest phase identifies system vulnerabilities that might be used in focused assaults. Accurately gathering all of this data is essential since it will impact how well the succeeding steps go.

How to Get System Access

After identifying the system's vulnerabilities by exploiting security holes, pen testers access the infrastructure. Then, in an effort to prove their ability to penetrate the target settings, they try to further penetrate the system by gaining more privileges.

Constant Access

This pentest step assesses the possible impact of an exploit by using access privileges. Penetration testers should maintain access to a system and the simulated attack running for as long as necessary to accomplish and replicate the malicious hackers' objectives. As a result, during this pentest phase, we strive to access as many systems as we can while obtaining the maximum level of privileges and network information. To do this, we check to see whether any data and services are available to us.

Now is the time to show the client what the security breach may mean. Direct access to passwords or compromised data is different than gaining access to an old and outdated system that isn't even connected to the domain.

Discover industry best practices on penetration testing to protect your data.

Reporting and Analysis

This was the outcome of a penetration test. The last phase is when the security team delivers a comprehensive report covering the whole penetration testing process. Facts or information that should be mentioned include, for instance:

• The seriousness of the risks that the exposed defects pose

• The tools that can successfully get into the system showing the places where security was properly implemented

• The shortcomings that need to be fixed as well as strategies for avoiding further attacks (remediation recommendations)

This could be the most important phase for both parties. This report should be divided into an executive report and a technical report because both IT professionals and non-technical managers will read it. This division will make the report easier to understand for both groups of readers.

Summary

Finally, it is crucial to implement the necessary safety measures to avoid recurrence attacks and disasters. Attacks have increased exponentially in recent years, and they don't appear to be going down any time soon, which is mostly to blame. 

Due to the valuable intelligence gathered, businesses are the top focus of cyberattacks. They could even demand money in return for the information. Tighten your security measures with IARM, Leading Penetration Testing Service Provider

About Author

Priya Dharshini is a passionate Digital Marketer and Trusted Security Consultant at IARM. She is the individual who will enthusiastically take initiative, goal-oriented senior professional with solid experience in Cyber and Information Security services. Self-motivator, meticulous attention to detail and excellent interpersonal skills.  

Why Have A SOC Operation for the Organisations?

 

The Cyber threat landscape is evolving at a rapid pace, necessitating ongoing monitoring and response to avert any intrusions. The longer a cybersecurity event stays unsolved, the greater the danger of damage and financial loss to the company. 

 

An organization's Security Operations Centre is in charge of dealing with these threats (SOC). The security operations centre (SOC) should be able to monitor cyber threats 24 hours a day, seven days a week, and respond rapidly to occurrences.

SOC (Security Operations Centre) is a term used to describe a security operations centre.

 

A security operations centre (SOC) is a building that houses an information security team that is responsible for monitoring and assessing an organization's security posture on a continuous basis.

 

To detect, analyse, and respond to cybersecurity issues, the SOC team have used a combination of processes. To ensure that security vulnerabilities are addressed as soon as they are detected, the SOC team engages with the organization's incident response teams.

 

Networks, servers, endpoints, databases, apps, websites, and other systems are monitored and analysed by the security operations centre to look for odd behaviour that could indicate a security event or compromise. The Security Operations Center is in charge of effectively discovering, analysing, protecting, investigating, and reporting potential security threats.

 

Security Operations Center Roles and Responsibilities (SOC)

The Best SOC Service Provider is in charge of the organization's incident response and pushes for ongoing security improvements to protect the company from cyber attacks. A well-functioning SOC will provide the following benefits by monitoring and managing the entire network with a complex combination of the right technologies and the right personnel.

Determine your assets.

A SOC team's actions begin with a thorough understanding of the tools and technologies accessible to them.

The team learns about the hardware and software of the systems. Their vast experience aids in the early detection of cyber threats and existing vulnerabilities.

Monitoring that is proactive

The fundamental purpose of a Security Operations Center is to detect malicious network activity before it causes major harm.

Rank the severity of the alerts.

When a SOC analyst discovers a threat or irregularity, they must assign a severity level to it. This data assists in prioritising the event's response.

Continuous behavioural monitoring requires assessing all systems seven days a week, 24 hours a day. As a result, SOCs can give reactive and proactive actions equal weight because any abnormal inaction is detected right away. Behavioral models can be used to train data collection systems on what activities are suspicious and to correct data that may be misinterpreted as false positives.

Incidence Reduction

The data of an organisation can be recovered through incident recovery. This includes reconfiguration, updates, and backups of the system.

Management of Compliance

It's critical for ensuring that members of the SOC team and the company follow regulatory and organisational guidelines when pursuing business objectives. Compliance education and enforcement are usually handled by one team member.

The SOC collects data from across the network, and various devices keep an eye out for anomalies and alert staff to potential threats in a variety of ways. The SOC, on the other hand, is responsible for more than just resolving problems when they emerge.

Organizations frequently turn to a security operations centre (SOC), which provides centralised and integrated cybersecurity incident prevention, detection, and response capabilities, to continually monitor and respond to threats.

What is the most appropriate SOC for your company?

A security operations centre (SOC) can be used as part of a larger plan to safeguard enterprises of all sizes from advanced threats.

However, there is no one-size-fits-all approach that achieves the ideal cost-effectiveness ratio.

There are various SOC models for constructing and maintaining security operations.

Distributed SOC 

In a co-managed SOC, also known as a co-managed SOC, an in-house semi-dedicated full-time or part-time team member is engaged to work with a third-party managed security service provider (MSSP).

Managed SOC 

In this manner, MSSPs supply a corporation with full SOC services. Managed detection and response (MDR) partners are another sort of managed SOC.

A managed security operations paradigm adds continuous threat monitoring to existing network security solutions. 

Such security operations solutions that help identify and eliminate vulnerabilities and reduce cyber risk can also be included.

Security Operations Center Advantages

The advantages of a Security Operations Center are as follows:

• Incident response timelines and procedures have been improved.
• Gaps between the time of compromise and the mean time to detect have narrowed (MTTD).
• Suspicious activity is constantly monitored and analysed.
• Collaboration and communication that works.
• For a more holistic security strategy, software and hardware assets have been consolidated.
• Customers and employees feel more at ease exchanging personal information.
• Transparency and control over security activities have improved.
• A data chain of control, which is essential if a corporation expects to prosecute persons who are suspected of being involved in a cybercrime. 

What are the best security operations centre practices?

The Security Operations Center Risk Assessment best practises are listed below.

SOC executives employ formal risk assessment techniques to identify gaps in detection and response coverage, as well as to influence future investments.

Data aggregation and collection

Best-in-class SOC Managed service provider use cutting-edge technologies to consolidate and analyse data from across the organisation.

Prioritize

The volume of security data and warnings may overwhelm even the largest SOC teams.

Defined processes for prioritising and triaging incident response are required to avoid overlooking serious risks. 

Making Use of Playbooks

SOC playbooks are operational procedures that give analysts structure and detailed guidance for common attack scenarios.

They speed up reaction times and improve the quality of investigations.

Automation

SOC's automate data collection, processing, and key incident response stages to improve response time and provide analysts more time to accomplish work that requires human interaction.

Everything needs to be tracked and reported on.

SOC's are used not only to respond to security incidents, but also to track cybersecurity effectiveness and demonstrate compliance.

IARM, the market leader in security operations, provides an outsourced, fully managed security operations solution that enables businesses of all sizes to grow their defences and reduce risk.

Our security and compliance professionals offer tactical and strategic advice to help you improve your security posture and compliance skills.

Conclusion

Hope this article helps you to find the Best SOC Service provider for your organization. And your feedback is always welcome through the comment section.

Thanks and Regards,

Priya

IARM - SOC as a Service Company Open Source SIEM | Cybersecurity Service Provider | Cyber Security Company