The consequences of a cyberattack? A fatal blow for many organizations
Geplaatst op: 20 December 2023
More and more large organizations and companies are getting attention from news due to them falling victim to data breaches, ransomware or cyberattacks. The Dutch Data Protection Authority reported an explosive increase in reports of a data breach in 2021. A doubling of the previous year, to be exact. The number of ransomware attacks will also increase by 33% in 2021, according to the annual report of the Public Prosecution Service. A cyberattack has become a serious threat every organization, regardless the size, must watch out for. We see a large part of the working population (in the Netherlands) fall behind. Entrepreneurs and employees are only partially aware of the consequences of a cyberattack for their company. It’s important for organizations to learn more and take responsibility for the processing and storage of their data. CIO, Marcel Krommenhoek talks about the risks of a cyber attack.
What exactly is a cyber attack?
A cyberattack refers to destroying, changing, or gaining access to (personal) data of an organization, without the permission of the organization. For example:
- Your USB stick with (personal) information of customers on it gets stolen;
- A hacker breaks into your computer network and steals (personal) information;
- Any type of ransomware.
Hackers that break into the network of an organization and acquire sensitive data are more common than often thought. To make matters worse, according to research from Cisco, about 60% of cyberattack victims go bankrupt within 3 years after the attack. How is that possible?
”Almost all organizations depend on digital data, so it has a huge impact if this data leaks or gets damaged.” Marcel explains. “We often see that a cyberattack has a long-term impact on business operations. This can result in direct operational loss, damage claims due to non-compliance with obligations or serious reputational damage. There are also considerable recovery costs and investments involved in a cyberattack so that the weak spots in the security can be closed. The combination of these matters puts the survival of the organization at risk.”
According to Marcel it’s not solely the cyber attack that causes bankruptcy. It’s the road to recovery and the associated costs that kill these companies. In the field of cybersecurity, it’s better to be safe than sorry.
The consequences of a cyberattack
It’s evident that the consequences of a cyberattack have a major impact. Identity theft due to a cyberattack is no joke, nor are the loss of sales or reputational damage. A few things that influence the impact of a cyberattack:
- How quickly can you recover: If the organization has the procedures in order and can recover quickly from an attack, this significantly reduces the impact. A temporary (short) disruption can often be managed well.
- Special features of the organization: by way of illustration, the risks of some kind of cyber-attack of a hospital will be greater than a data breach involving a newspaper mailing list.
- Duration of the attack: Sometimes a hacker has been in for days or weeks. If this is not detected, the damage can be very targeted and even recovery options can be compromised.
Cybersecurity 2023 – What do we have to protect?
With the increasing number of cyberattacks and organizations falling victim to a cyberattack, the question is not ‘if’, but ‘when’. Especially when organizations don’t improve their IT-security. Even though cybersecurity experts are constantly warning for this growing threat, action is often lacking. why is this? Cyber and security continues to be a difficult subject for organizations
According to Marcel: “This has several causes that reinforce each other. First, we see that IT budgets are under pressure and the focus is on optimizing the primary processes. Less attention is paid to the security of the organization. On top of that, many security measures have an impact on day-to-day work, as security and efficiency are at odds. Finally, we also see a role for suppliers of security solutions. It happens all too often that only technology pushed, while security starts with people. It starts by creating awareness about the risks and consequences.You want to have a clear insight into which data is most important and you want to ensure that it is precisely that data that is best protected”,
Mind the gap – about closing the gap between cybersecurity and business
When we talk about making organizations more secure, we should mainly focus on closing the gap between IT and business. Especially in the coming years. According to Marcel, this starts with raising awareness among staff. Communication from IT and cyber experts can help with this. What many people don’t realize enough is that the main goal of these cyber experts is to keep the business functioning undisturbed. That’s why these experts are also of big importance for the business side of the organization. If you use that in your communication and make cyber security a common goal, new opportunities will present themselves!
Would you like to talk about the various options to better secure your organization? Contact one of our experts.
AI and machine learning: the future of cybersecurity
Geplaatst op: 20 December 2023
Cybercrime is becoming an increasingly important topic in the business world. However, companies are only partially aware of the consequences. With the necessary risks involved. At OpenSight, we understand better than anyone that keeping up with cyber threats can be a complex task. But ignoring the risks puts the business at risk. Avoiding risk requires a combination of technology, strong policies, and employee training. In this article, read how integrating AI can help better protect your business.
Prevent cyberattacks with AI
In the last two years over 70% of Dutch organizations have had to deal with cyberattacks. Many of these organizations rely only on standard solutions and software to protect their networks and data. Fortunately, opportunities to better protect ourselves are growing. AI and machine learning are great examples of this. There is a big difference between the traditional, conventional solutions, and AI. With traditional solutions, for example, you can only detect malware that the software already knows. New malware? That’s a problem. It is, of course, possible to update the software, but there is a downside: the software must be constantly up-to-date. If you forget this once, you’re still at risk to becoming a victim of a cyber-attack.
With AI and machine learning things are different. These self-learning algorithms keep improving and developing constantly. This allows the software to recognize malware by the way it behaves, without depending on an update. When something unnatural happens on a device, this change is immediately noticed.
Benefits of AI integration with cybersecurity
AI has several cyber security benefits. A few examples:
- Rapid Threat Detection: AI is one of the best technologies for identifying and stopping unknown threat attacks.
- Working with larger amounts of data: AI processes large amounts of data in a much shorter time frame. This makes it possible for companies to scan a lot of data within a short period of time and find anomalies in the system in no time.
- Up-to-date security: Hackers are becoming increasingly dexterous in hacking into company systems. It’s important that security is always up to date. Machine learning supports you by recognizing different types of attacks and continuously improving these processes.
- Authentication and role assignment: AI also helps you improve the authentication process. This technology uses different elements to recognize people. Think of facial recognition, fingerprint scanning and more. The benefit of this is that AI then uses the important data points to verify users’ logins.
Using AI and machine learning
As you can see, AI and machine learning make it possible to tighten companies the security processes. Continuous improvement, faster detection of threats and overall better security. Curious about the possibilities? Contact one of our experts!
Better security with Mail Spectator
Geplaatst op: 20 December 2023
Phishing Mails and domain name fraud are becoming more common. Not only has the frequency of these cyber hacks increased enormously, but hackers are also becoming more agile. As a logical response, we see that companies and organizations want to take action. But where to start? Fortunately, useful tools are available to help prevent phishing and CEO fraud. Mail Spectator is one of those tools. We’ll tell you more.
About phishing
The word phishing is somewhat similar to the word fishing. With phishing we then also mean the act of fishing for personal information and data from other people. Although we are warned daily about phishing, such as through our bank or from the government, emails from hackers seem to get more realistic. The chance that employees fall into the trap of a phishing email is therefore quite high.
What is Mail Spectator?
Mail Spectator is a tool that monitors your domain name 24/7. The goal? Preventing phishing and CEO fraud. Because Mail Spectator monitors your domain name vulnerabilities are detected early. In this way, e-mail traffic becomes reliable, and you minimize phishing and fraud.
The benefits of Mail Spectator
Did you know that your domain name can be used by others to send phishing emails? Employees and customers will then receive realistic emails under the name of your company. This can cause quite a few problems once they open the email or enter important data.
Mail Spectator monitors the use of your domain name to prevent abuse.
Because your domain name is continuously monitored with Mail Spectator, you will immediately receive an update if something isn’t right. Is someone misusing your domain name or is the domain name configured incorrectly? You will immediately receive a notification. Find out in no time if your domain name is being misused and improve overall security within the company.
Better security with Mail Spectator
A safe environment to work in is essential for employees to do their job well. It’s crucial that risks such as phishing and domain fraud are kept to a minimum. Mail Spectator can help you with this. Curious about the possibilities? Contact one of our experts!
Give hackers a taste of their own medicine with a honeypot
Geplaatst op: 15 December 2023
Ever heard of the term honeypot? It’s very well possible you’ve never heard of it before. No worries! In this article we’ll explain what a honeypot is, how it can improve the cybersecurity of your organization and what the advantages are.
What is a honeypot?
Let’s start with the basics. A honeypot is a computer, or several, intended to trap hackers. This computer contains “precious data” that is attractive to hackers. Vulnerabilities are deliberately exposed in this computer’s system, making it an easy target for hackers. What they don’t know is that this system is disconnected from the rest of the network and is carefully monitored. Like bees that gravitate to honey, a honeypot will lure hackers.
The purpose of a honeypot
A honeypot lures hackers into a trap, but that’s not all. A honeypot collects important information about the behaviour and motives of hackers, or cyber criminals. This can include finding out the hacker’s IP address, location and, ironically, the passwords used. In addition, a honeypot also provides insight into which techniques are used by hackers to log in and where the stolen data goes.
Advantages of a honeypot
A honeypot provides several benefits for organizations. Below are a few examples:
- An affordable solution: a honeypot is an inexpensive solution to keep hackers out. In addition, a honeypot – or several honeypots – does/do not require hours of installation. It’s fast, simple and affordable.
- Provides insight into security: a honeypot is especially valuable for organizations that are actively working on improving their security. By monitoring a honeypot, you get valuable information about cyberattacks. Use the information, for example, to create security awareness among staff. The information that you can extract from a honeypot also shows where the weaknesses in the security of the organization are. There’s work to do!
What to do in case of an attack
Setting up a honeypot correctly can be done with a professional. Maybe you have an expert inside the organization, but you can also hire an external expert. Once the honeypot has been set up, it’s the hackers’ turn. What’s the next step once the honeypot is attacked? Calling an expert is always wise in a situation like this. Someone who can help set up a honeypot correctly in the first place, but can also help when a hacker has struck. Such an expert can tell you exactly whether there are other risks and where security needs to be tightened. Sometimes it is also possible that an employee accidentally stumbled upon the honeypot, creating a false alarm. Nevertheless, calling in an expert – such as OpenSight – can’t hurt.
Cybercrime: the latest trends
Geplaatst op: 13 December 2023
Cybercrime has been on the rise in activity for some time, and it doesn’t appear that this will level off anytime soon. With an even greater increase in digital traffic since the Covid-19 pandemic and the ongoing digitization of society, the playing field for cybercriminals has become larger than ever. But what trends and patterns can be identified? We’ll look at that in a bit more detail in this blog.
Hackers are big boys now
Where first hackers and cyber criminals were seen as a minor threat and as a form of teen angst, cybercrime has now grown into a professional and large-scale business. This type of cybercrime is no longer carried out by a few who want to earn a little money from it, but by tightly organized mobs that sometimes drag out tons of money. Every year it is estimated that billions of dollars are stolen by these organized (online) criminal organizations. As long as these cybercriminals continue to achieve success, they will keep going.
Particularly dynamic
With the advent of cryptocurrency, development of deepfake technology and constant improvements of technological soft- and hardware, this world has become very dynamic. Both attackers and defenders in the online world are constantly developing new ways to get in or keep someone out. It’s predicted that the now still somewhat unfamiliar artificial intelligence (AI) will play an increasingly important role in cyber security in the near future. This AI is already being used to detect threats and monitor large systems. Hackers, on the other hand, seem to be getting more and more skilled at spreading fake news and using deepfakes. Spreading fake news and misinformation was a regular occurrence during the Covid-19 pandemic, and since then it has only gotten more and more popular. Due to the countless possibilities and developments in this world, it’s never possible to predict exactly what the future will look like.
Hackers aren’t the only ones that are innovative
This blog might sound a little bit ominous, but thankfully hackers aren’t the only ones that are innovative and constantly improving. Cyber security companies, cyber insurers, governments, and many more are getting better at preventing cyber threats. One should also carry one’s own weight, so avoid clicking on untrustworthy links or sharing sensitive information, etc.
Would you like to know more about what you can do for your (or your company’s) cyber security? Then check out our other blog where we give tips for this.
For who is cyber security important?
Geplaatst op: 13 December 2023
Cyber security, cyber attacks and cybercrime, these terms have the tendency of popping up everywhere. But what do they mean, and for who is it important? We see data leaks and hacks all around us, but do we know what these events actually entail? What threats are there, and how real is the chance of your business falling prey to a data leak or hack?
How likely is it that your company will fall prey to cybercrime?
A lot of people seem to think that cyber attacks only take place at large companies, banks, or government agencies, but unfortunately that’s far from reality. In 2019, 50% of Dutch companies fell victim to some form of cyber attack. In 2021, Dutch Chamber of Commerce estimated that there are about 294 cyber attacks on companies per week, which means 1 in 5 entrepreneurs will be affected.
Types of cyber attacks and their consequences
The consequences of a cyber attack can pile up in no time and range considerably between problems with a website to completely losing control of your company’s digital environment. Because of the different experiences, we’ll go through the most common types of cyber attacks and their consequences.
- DDoS-attack
In a DDoS attack, hackers send massive amounts of digital traffic to a destination such as a website or server in a short period of time. The website or server cannot handle this large load of traffic and gets problems functioning, this causes the website to slow down or may even make it unusable.
- Ransomware
A ransomware attack often enters through a link, advertisement, attachment or through a targeted attack. Through one of these ways, the ransomware enters and takes files or sometimes even an entire server hostage. This hostage taking prevents a company from accessing its files or the server. Companies are then forced to pay a ransom to regain access to their properties.
- Digital break-in
Hackers can also purposefully break into a company or organization’s servers. By doing this they can get access to sensitive information, like personal or financial information of employees and/or customers. A company victimized by this may face some form of ransom, but there is also a chance that it may have to defend itself against claims for damages by the individuals whose data was leaked.
What are you able to do for your cyber security?
To keep your cybersecurity up to date, there’s a few basic procedures you can follow:
- Make timely backups.
- Only use secure internet hotspots.
- Install your updates promptly.
- Use strong passwords, and change them regularly.
You can also choose to take out insurance against cybercrime. It is also wise to have your cybersecurity monitored and/or strengthened by a specialized third party. After all, it’s better to be safe than sorry!
The largest cyber attack in history
Geplaatst op: 2 May 2022
In the last few years, cyber attacks have become much more common. We also often talk about it in our blogs. But text and explanation can sometimes be a bit bland and don’t speak to the imagination. That’s why in this blog we’ll give you an example of one of the biggest cyber attacks in recent history.
WannaCry (2017)
In 2017, one of the largest ransomware attacks ever took place. The attack is known as the WannaCry-attack because the ransomware used is named WannaCry. In 2017, the NSA (National Security Agency) created a tool that exploited a security vulnerability in Microsoft Software. Obviously, this tool was not made to distribute ransomware, but the NSA itself suffered a cyber-attack in which the so-called ETERNALBLUE tool was stolen and published online, making it publicly available.
Solution
Microsoft had been informed about the vulnerability a month before the leak and soon had a so-called patch (solution) that resolved the vulnerability in the security of the software. However, and you’ll probably recognize this in your own organization, not everyone had downloaded the update with the patch (“remind me later”) It soon became clear that many people were still using outdated computers and/or software. Hackers launched a ransomware attack using the ETERNALBLUE tool and infected 200,000 computers across 150 countries within a day.
Within a few hours a cyber security expert (who was also an ex-hacker) found a so called ‘kill switch’, a kind of self-destruct button in the software that caused the ransomware to shut down and stop spreading itself.
Effects
Ultimately, it’s estimated that this attack cost between 100 million and several billion dollars in damage. The WannaCry cyber attack received attention partly because of its impact on the NHS (National Health Service). The WannaCry attack disabled about 70,000 computers in hospitals all across England. The cyber attack was carried out on a scale never seen before and could have been much worse, according to experts. Using the ETERNALBLUE tool was a very well thought-out action, according to experts, but other parts of the attack including the ”kill switch” looked like amateur mistakes. Without these mistakes and the clever performance of the ex-hacker and cyber security expert Marcus Hutchins, this cyber attack could have been a lot worse with disastrous consequences.
An important lesson
Perhaps the most important lesson that we can take out of this story is: Always check if your software is up to date! Always. Updates are extensively tested in advance by developers and in all cases serve as an improvement to the current software package. This could be an update to the operation or interface, but in most cases it is a security update. Updating your software prevents you from falling victim to a (un)known security vulnerability.