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4 Sophisticated Cybersecurity Attacks Targeting Organizations Globally
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4 Sophisticated Cybersecurity Attacks Targeting Organizations Globally

Sophisticated Cybersecurity Attacks Targeting Organizations Globally – Cybersecurity attacks are growing more dangerous, putting a company’s finances, reputation, and operational capacity at risk. Stopping such attacks often requires a proactive approach from businesses. They must also gain insights into the types of attacks that threat actors use nowadays.

#1 Watering Hole Attacks

Just like predators’ stalk prey at watering holes in the wild, hackers target organizations on websites that they frequently use with the following web-borne hacks:

  • Cross-site scripting (XSS)
  • SQL Injection
  • DNS cache poisoning
  • Drive-by downloads
  • Malvertising
  • Zero-day exploits

Using web-borne attacks, hackers can drop malware, exfiltrate data, and more.

One of the most infamous examples of a watering hole attack is the Montreal-based International Civil Aviation Organization (ICAO) hack of 2016. Hackers corrupted multiple ICAO servers, spreading malware to other websites, agencies, users, and staff members.

#2 Supply Chain Attack

A supply chain attack may seem similar to a watering hole attack, but there are some key differences. While a watering hole attack corrupts a website or a platform to target a specific group of users, a supply chain attack propagates malware through the weakest point in an organization’s supply chain system.

For example, state-sponsored hackers may have weaponized SolarWinds’ products to attack their high-profile clients. These clients include American cybersecurity agencies, the Treasury Department, Homeland Security, and other powerful organizations.

#3 Whaling Attack

Whaling is a highly targeted spear-phishing attack where threat actors use social engineering techniques like phishing, smishing, vishing, baiting, and pretexting to deceive some of the following kinds of high-value targets:

  • CEOs
  • CFOs
  • Presidents
  • Vice Presidents
  • Directors
  • Security teams

Hackers may use a whaling attack for activism, espionage, or to launch a supply chain or watering hole attack. Typically, whaling attacks are for financial gain. For example, a finance executive from toy manufacturing giant Mattel wired $3 million to a fraudster after receiving a request that appeared to be from the company CEO.

Whaling attacks don’t just target large organizations — medium-sized businesses can also suffer from whaling attacks. In 2019, the owner of a real estate company lost $50,000 after a hacker deceived him with such an attack.

#4 Ransomware Attack

As you probably know, ransomware is a type of malware that locks computers and systems in exchange for a fee. Some ransomware strains, like Petya, NotPetya, and WannaCry, can move between computers, targeting people and businesses indiscriminately.

However, state-sponsored ransomware gangs use sneakier ransomware strains to target single organizations, crippling their operations while extorting them for large sums of money. Cybercrime group, DarkSide, received a total of $90 million in bitcoin ransom payments from Colonial Pipeline after shutting them down with ransomware.

How To Prevent Cyberattacks

Although there’s no foolproof method to completely secure your business from online threats, you can take steps to mitigate your risk significantly. Start with a robust cloud migration strategy.

Many businesses are moving to Azure because of its cutting-edge cybersecurity measures and outstanding disaster recovery capabilities. They’re also utilizing Microsoft Cloud Security Solutions such as Microsoft Defender for Cloud, Microsoft Sentinel, Insider Risk Management etc.

For assistance with cloud migrationand cybersecurity, businesses in Canada are utilizing Softlanding IT services in Vancouver, Toronto, Montreal, and other major Canadian cities. The company offers some of the best security and compliance consulting services. It helps businesses develop on-premises, hybrid, and cloud environments, tailored to suit their individual IT needs.

In addition to migrating to the cloud with the help of reputable Managed IT services providers(MSPs), please invest in intelligent endpoint security, anti-ransomware technology with data rollback, and enhanced password hygiene.

With the best tools, practices, and MSPs on your side, your organization can keep its data, operations, partners, and employees secure.

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