Key Types of Data Security Threats Every Business Should Keep an Eye On
In today's modern corporate environment, where digital data is widely used, businesses have become vulnerable to numerous kinds of security threats. The proliferation of harmful software and human errors has led to numerous factors that pose a threat to information security, including data theft. One way to protect a business from data loss and cyberattacks is by knowing the threats, properly handling them and following data loss prevention methodologies. In this article, we shall explore some of the most common data security threats for enterprises to include in their risk management strategies.
Unintentional Data Leaks
A vast number of data security breaches are due to a lack of intention or carelessness, while the rest are because of actual intention. The workers of the organization can be the most adding in the loss or transfer of sensitive information either by accident or on purpose (they do it intentionally and without even knowing the security rules).
Malware and Ransomware
Malware refers to all software designed to be harmful to computer systems. It may just enter a system through spam emails, websites, ads, and USB drives. Malware can get rid of files, steal data, and mess up with system settings - causing huge problems.
Ransomware, a thieving form of malware, locks up a victim's data. In ransomware attacks, data is encrypted using strong algorithms like AES(Advanced Encryption Standard). The data is converted to a scrambled format that can only be decrypted using a specific decryption key. Usually, a ransom amount is demanded by the threat actors to unlock/decrypt the encrypted data. Even if someone does make the payment, the data may not be safe (it may be on the dark web for sale). Ransomware can wreak havoc on a business's network data, causing chaos. Without a reliable backup, restoring lost data becomes a challenging task.
Social Engineering and Phishing
Social engineering is performed in a way that people would spontaneously provide their personal information like login details or access to particular networks. This may happen over a phone call, in an email exchange, or in person. One of the most frequently encountered forms of social engineering is phishing, where individuals are targeted by fake emails or messages that direct them to expose their passwords or financial information by senders who pretend to be someone from a legitimate organization, for example, a financial institution.
Insider Threats
Cases of insider threats happen when someone from the organization itself leaks data by accident or makes a purposeful action that jeopardizes the safety of company data. Certain insiders could be unaware of their actions being wrong, whereas others could be engaged in the stealing of data with a selfish aim in mind. Compromised insiders might be only a tool that cybercriminals use to penetrate the network, and thus, these actors/external attackers, use such accounts to create problems.
Cloud Data Loss
Data storage in the cloud has been a lifesaver for businesses, but, on the other hand, it has ushered in many new risks. Cloud data can be lost due to unauthorized access, credential stuffing, lack of security controls, or if the security measures are not good enough on the cloud provider's side. It may also be a problem if unapproved cloud services are utilized by employees to share resources.
SQL Injection Vulnerabilities
SQL injection attacks focus on sites that are run on databases. The malicious actors do so by identifying flaws in the app's source code and then executing SQL instructions to perform their actions. This is more likely to happen in case the inputs aren't validated properly. In this case, attackers can gain illegitimate access to data, manipulate data, and even run admin operations. Experienced hackers employ diverse black-box methods to create harmful queries capable of altering application logic.
IDOR Vulnerabilities
IDOR happens as the web applications provide the user with direct access to the resources, e.g. files, directories as well as databases if there is no controlled authorization. By doing this, malicious users can play around with an application's endpoint and its URL/parameters to gain unpermitted access to data(customer data for example). Consider a scenario where the website of an online bank can give account statements based on a numeric account ID that is presented on the browser address bar. In case the application goes to authenticate the users' access rights to that very particular account, a hacker may simply look for other account IDs in the URL and easily connect to other users' accounts. IDOR vulnerabilities involve illegal exposure of data, a loss of confidential information, and even the occurrence of data breaches if exploited by attackers.
DDoS Attacks
A DDoS attack can easily flood the service capacity of a certain online service, website, or application by triggering a situation where the Internet servers are loaded with an excessive amount of requests, making it impossible for the users to access the data they need. In worst cases, such disruption can lead to long-duration downtimes, losses, and reputational damage. Disrupting the services is the main aspect of a DDoS attack; however, attackers may use it as a blind screen, thus, hiding other criminal activities such as stealing sensitive data or getting to the company's networks. While attempting to combat a DDoS attack, the organization may lag in its security defenses which are likely to be overwhelmed by hackers, making them capable of accessing crucial data assets.