What are Common Types of Cyber Attacks?

Types of Threats

Today, there are several dozen actively used programs and systems for hacking, data collection, encryption, and data destruction. The basic tactics of hackers change little over time. Most often (in 45% of cases) leaks occur as a result of hacking. The 2nd and 3rd places are occupied by various kinds of errors and attacks using social engineering (22% each).

In general, according to experts, the number of data breaches in 2020 was less than in 2019. But, unfortunately, this wasn’t due to effective counteraction or increasing the security of computer systems, but due to the temporary switching of the main forces of cybercriminals to another more profitable direction - ransomware.

“Cyber-security' is one of those hot topics that has launched a thousand seminars and strategy papers without producing much in the way of policy.” As David Ignatius, a columnist for The Washington Post, puts it.

There is a clear trend in more organized, complex cyber threats appearing. But to better understand cyber threats, it’s easier to categorize them. There are several ways to do that – based on intent, method used, etc. Attackers are usually after financial gain or disruption espionage (including corporate espionage). Most cyber threats fall into one of three categories but if we are to examine them based on the attack techniques used, then we can distinguish 10 common types of cyber threats:

Malware This is software that executes a pre-programmed malicious task on a target device or network, such as corrupting data or taking over a system.

Phishing

What was previously an email-based attack, has evolved to include fake SMS messages or emails that trick the recipient into disclosing confidential information or downloading malware by clicking on an infected hyperlink.

Spear Phishing

This is a more sophisticated form of phishing. In this instance, the attacker impersonates someone the victim knows and trusts to gain access to private information.

“Man in the Middle” (MitM) attack

This attack relies on establishing a position between the sender and recipient of electronic messages with the intent to intercept them. Unfortunately, newwe MitM attacks are able to intercept even 2FA (two factor authentication) messages sent by banks, crypto exchanges and other institutions deemed ‘secure’. The sender and recipient believe they are communicating directly with one another.

Trojans

Named after the Trojan Horse in ancient Greek history, Trojans are a type of malware that infects a system by posing as something else – a software update, an installation (exe) file or a patch but then lets out the malicious code once inside the host system.

Ransomware

This attack specifically encrypts data on the target network or system to blackmail the owner(s) for a ransom to restore access to the data again. These attacks range have caused some of the most serious incidents and data breaches as there is no guarantee that the attackers will restore/not publish the data after getting paid.

Denial of Service attack or Distributed Denial of Service Attack (DDoS)

Where an attacker takes over multiple devices to invoke the functions of a target system, e.g. a website, causing it to crash from an overload of demand.

Attacks on IoT Devices

The interconnectedness of IoT devices make them vulnerable to multiple types of cyber threats. These include hackers taking over the device to make it part of a DDoS attack, gaining unauthorized access to data being collected by the device. IoT devices are a prime target for malicious actors due to their proliferation, geographic distribution and frequently out-of-date operating systems.

Data Breaches

The theft of data by a malicious actor constitutes a data breach. Motives can be different but the consequences are always dire (e.g. identity theft, corporate espionage, etc.).

Malware on Mobile Apps

Mobile devices especially those with an Android OS are vulnerable to malware attacks. Many apps contain malware especially if they are inactive or unsupported by the developer. Users who don’t frequently install security updates also leave their devices open to malware that can steal personal information, location data, financial accounts and more.

Security breaches come in many shapes and sizes and they can target individuals, organizations, regulatory bodies as well as specific devices and OS (operating systems). While these are some of the most common cyber threats you may encounter today, it’s important to remember that attackers change their strategy all the time to find and exploit new vulnerabilities in software, systems, networks and users.

In 2020 alone, more than 28,000,000 cases of data breaches were recorded according to the company IT Governance. The “leaders” in terms of costs of companies from data breaches in 2020 are the United States, Canada, and the countries of the Middle East. In these countries, the average cost ranged from $ 4.5M to $ 8.64M.

Are there ways to Prevent Cybersecurity attacks?

The evolving nature of cyber threats makes it increasingly difficult for organizations to protect their data. This becomes ever more complicated when they have to collect and store data from customers as a potential data breach could have catastrophic. For this reason, it’s important to have the right security controls in place to guard against cyber attacks.

To counter the rising threat of cybercrime, organizations and governments have been heavily investing in identifying and plugging system vulnerabilities. Part of implementing a reliable cybesecurity strategy is anticipating where attacks might occur to map defenses and protect systems, networks and applications for the future.

As the author of IT Auditing, Robert E. Davis says: “To competently perform rectifying security service, two critical incident response elements are necessary: information and organization. “

You should keep in mind this is an on-going process and one that requires the collaboration and work of multiple parties. Critical to the success of cybersecuity are the cybersecurity specialists who play a key role in securing information systems. These professionals fulfil multiple roles, such as Security Admin, Security Analyst, Security Architect, Security Auditor, Security Engineer, Security Specialist, Penetration Tester, CISO, etc. They are responsible for monitoring, detecting, investigating, analyzing, and responding to security events with th intent to protect systems from cybersecurity risks, threats, and vulnerabilities.

Cybersecurity specialists are usually part of larger IT teams that are dedicated to protecting the integrity of organizations’ network and data. Network operations and IT technology supplement the core business and they are integral to the success of the company. And while having a team dedicated full time to cybersecurity could seem like an overreaction but it is actually a necessity.