Thank you for Subscribing to CIO Applications Weekly Brief

Cyber Threats that are Hampering the Functioning of Organizations Today
An untold amount of financial and reputational damage could result from an unmitigated security breach.
By
CIO Applications | Tuesday, February 28, 2023

Operational downtime, regulatory sanctions, and potential loss of business could also be costly problems for firms, in addition to the costs of recovering sensitive information - especially for law firms.
Fremont, CA: An untold amount of financial and reputational damage could result from an unmitigated security breach. In this regard, it is crucial to know what to look out for when it comes to threats. Here is a rundown of today's top five cyber threats:
Social engineering attacks (or phishing)
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
Criminals use social engineering to exploit people by tricking them into providing private information, clicking on malicious links, or granting access to secure systems. To make it more convincing, voice impersonation software can sometimes be used to reach out via email or telephone. Mark Gendein, Principal Architect at Thomson Reuters, says, “These scams are becoming more effective, which is concerning, as you might expect growing awareness to make them less so.”
Ransomware
Using malware, criminals block access to a company's data or threaten to publish it in order to hold it for ransom. Infected links, email attachments, and websites are typically used to download and install ransomware. Because it's so lucrative, cybercrime of this type is extremely common. Operational downtime, regulatory sanctions, and potential loss of business could also be costly problems for firms, in addition to the costs of recovering sensitive information - especially for law firms.
Mobile security attacks
The number of smartphones worldwide is over six billion, and most users use the same smartphone personally and professionally. Fake apps are infiltrating the App Store, which can trick users into permitting them or infect the phone with viruses and malware, giving criminals access to sensitive information and gaining control over their accounts.
Remote working risks
As more and more people work remotely, employers' systems may become more vulnerable. The employees at your company may be connected to unsecured wi-fi networks in cafes, using outdated home routers, or working on their own vulnerable devices. It may not even be possible to patch old routers to update them against threats, according to Jesse Mrasek, Senior Cloud Solutions Architect at Microsoft®. A significant logistical challenge for businesses is managing device management at scale. Organizations may need to review and strengthen policies on bringing their own mobile device.
Identity-based cloud security threats
Due to the billions spent on security annually by significant service providers like Microsoft, being "in the cloud" can be a more secure option than hosting everything on-premises. Depending on your situation, it may or may not work. Some elements can be weak, primarily if they are hosted on their own servers in the cloud.
Several tools are available to help you manage security in the cloud, but you must know how to use them." As previously discussed, technology alone may not be enough. As a general rule, attackers attack the identity holder - the firm rather than the service provider - and phish for the staff's log-in information or other information.
More in News

