What are Enterprise Security Threats?

In this world full of newly emerging technologies, each passing day, there are various enterprise security threats also erupting simultaneously altogether for corrupting the IT Security systems and compromising the datasets possessed by these systems.  In addition, there are many different types of enterprise security threats that numerous organizations need to be aware of and take steps to protect against such circumstances.

Moreover, as several organizations gradually add new technologies to the business structure, Computer Information and Office Systems (CIOs) should frequently be getting alerts to the cybersecurity threats that those particular technologies extend.  As per a survey conducted by Midmarket CIO Forum in Savannah, GA, in the year 2017, Brian Hill, the vice president of corporate investigative services at Computer Forensic Services, described numerous significant enterprise security threats that many organizations are facing in today’s era.

In regard to this, Brian Hill explained, “Cybersecurity is ever-changing; with technology, we gain a ton of convenience, but every time we gain convenience, we always give up some security.  It’s about trying to find that fine balance in between those.”

How To Avoid Enterprise Security Threats?

Many distinguished Enterprise Security Threats lie in this technology-filled world where businesses face many challenges related to solving several enterprise security threats by various means and methodologies.  In addition, here are the top 6 enterprise security threats and tips for how to avoid them:

• Malware
• Ransomware
• Distributed denial of service (DDoS) attacks
• Spam and Phishing
• Corporate Account Takeover (CATO)
• Automated Teller Machine (ATM) Cash Out

Now, we will explain the above-mentioned top 6 enterprise security threats one by one in the following paragraphs:

Malware

Malware is software that is specifically designed to disrupt, damage, or gain unauthorized access to a computer system.  It can be delivered through email attachments, websites, or other means.  To avoid malware, organizations should use the following exercises to mitigate enterprise security threats genuinely:

Precautions:

• Ensure all software programs and applications are updated with the latest security patches.
• Install anti-malware and antivirus software and configure the software to scan and regularly update automatically.
• Use strong passwords, change them frequently, and never share them.
• Back up important files regularly and store them offsite.
• Disable macros on documents received from unknown sources.
• Do not open emails from unknown sources.
• Do not click on suspicious links in emails.
• Set up a firewall and configure it to block suspicious traffic.
• Monitor network traffic for any suspicious behavior.
• Educate employees about the risks and best practices for avoiding malware.

Ransomware

Ransomware is a type of malware that encrypts a victim’s files.  The attackers then demand a ransom from the victim to restore access to the files; failure to pay could lead to the permanent loss of the encrypted files.  In order to prevent ransomware attacks, businesses should adopt the below-mentioned techniques:

Precautions:

• Regularly back up important files and store them on an external drive
• Regularly update and patch software and operating systems
• Disable macro scripts from office files
• Use strong passwords and multi-factor authentication
• Be wary of suspicious emails and attachments
• Install a reputable antivirus/anti-malware software and keep it up to date
• Avoid clicking on unknown or unsolicited links or pop-ups
• Refrain from downloading from untrusted websites
• Install browser and plugin updates as soon as they are available
• Restrict users from having admin privileges to their local machines
• Configure access controls to limit the extent of damage caused by ransomware attacks

Distributed Denial of Service (DDoS) attacks

DDoS stands for a distributed denial-of-service attack.  It is a type of cyber attack that attempts to make a computer or network resource unavailable to its intended users by flooding the target or its surrounding infrastructure with a flood of Internet traffic.

Moreover, an enterprise can sincerely adopt the below-mentioned techniques to safeguard an organization from the DDoS Attacks initiated by an insider or a remotely sitting black hat hacking individual.

Precautions:

• Implement firewalls and intrusion detection systems to monitor traffic patterns and detect malicious activity.
• Use web application firewalls to detect and block malicious requests.
• Monitor the network for unusual traffic levels or patterns.
• Ensure that patches and security updates are applied to all systems on a regular basis.
• Limit access to services and applications to only trusted sources.
• Use access control lists (ACLs) to limit the number of requests from a single source.
• Use load balancers to distribute traffic across multiple servers.
• Implement rate limiting to limit the number of requests from a single source over a given period of time.
• Implement an attack mitigation plan to respond quickly to any detected attack.
• Train personnel to recognize the signs of a DDoS attack and take appropriate action.

Spam and Phishing

Spam is unsolicited, unwanted emails that are sent in bulk.  These emails often contain malicious links or attachments and can be used to spread malware and phishing scams.

Moreover, Phishing attacks are fraudulent attempts to obtain sensitive information such as usernames, passwords, and credit card details by disguising oneself as a trustworthy entity in an electronic communication.

Furthermore, in order to escape phishing attacks, businesses should educate their employees about how to recognize and report phishing attempts and use spam filters to block known phishing emails.  In addition, they can follow the below-mentioned best practices to secure these attacks massively:

Precautions:

• Don’t open emails from unknown or suspicious senders
• Don’t click on links or attachments in emails from unknown or suspicious senders
• Don’t share personal information, such as bank account details, via email
• Don’t respond to emails asking for personal information
• Don’t click on pop-up ads
• Install spam filters on your email account
• Regularly update your antivirus software
• Be wary of emails asking you to confirm or enter personal information
• Be aware of the website’s URL or address before entering your personal information
• Pay attention to the email address of the sender

Corporate Account Takeover (CATO)

Corporate Account Takeover is a type of cybercrime where a hacker gains access to a corporate bank account or another financial account, allowing them to access sensitive financial data and transfer funds to their own accounts.  This type of attack usually involves the use of stolen credentials, such as usernames and passwords, or by exploiting vulnerabilities in applications or operating systems.  It can also involve the use of malware or social engineering tactics.

Moreover, all businesses can undoubtedly adopt the following steps to evade this corporate account takeover by black hat hacking techniques:

Precautions:

• Establish a strong password policy that requires frequent updates and the use of complex passwords and two-factor authentication
• Monitor user activity for any suspicious behavior or logins from unknown locations
• Regularly review security logs and system configuration for any anomalies
• Train employees on best practices for online security, such as not sharing passwords or clicking on suspicious links
• Limit user access to only necessary systems and data
• Install and maintain up-to-date antivirus/malware software
• Use a secure VPN when accessing sensitive data
• Implement a secure firewall that restricts access to certain IP addresses
• Ensure that all hardware and software are updated with the latest security patches
• Isolate corporate accounts from other accounts on the same system
• Monitor accounts for unusual transactions and investigate any suspicious activity promptly

Automated Teller Machine (ATM) Cash Out

Automated Teller Machine (ATM) Cash Out is a service that allows you to withdraw cash from an ATM without the need for a bank teller or human interaction.  It is typically used for transactions that require a large amount of cash, such as cashing out a paycheck or withdrawing cash from a savings account.

In addition, these can ATM Cash Out scenarios can undoubtedly be evaded with the use of these below-mentioned best practices:

Precautions:

• Keep your ATM card safe and secure
• Change your ATM PIN regularly
• Avoid using public ATMs
• Do not disclose your PIN to anyone
• Monitor your account regularly for any suspicious transactions
• Report any suspicious transactions immediately to your bank
• Use ATMs located in well-lit and secure areas
• Be aware of your surroundings when using the ATM
• Avoid using ATMs in secluded areas
• Be aware of people or objects that may be skimming devices or cameras
• Shield the keypad when entering your PIN
• Collect your card and cash immediately after a transaction is completed

Conclusion

In the bottom line, there can be many enterprise security threats that can be mitigated with the use of proper techniques implemented by a professional cyber security expert.  This blog post was an initiative by Cyber Varta – An InfoSec Talk Show, to let all understand the basic functionalities that enterprises should take to escape from any enterprise security threats.

Cyber Varta is hosted by a highly renowned cyber security expert – Mr. Mohit Yadav, who is well-known all across the world for his outstanding contributions in the cyber security domains.