Cyber attacks always happen in cyberspace. It is inevitable, but can be prevented with proper education and practices. According to Wikipedia “In computer security, a threat is a potential negative action or event facilitated by a vulnerability that results in an unwanted impact to a computer system or application”.
Cyber attacks are done by skilled cyber criminals, and becoming aware of these attacks gives us knowledge on how we can stay protected online. In lieu, here are common cyber attacks that occur in the world today:
1. Malware: Malware is also known as malicious code or malicious software. Malware is a program inserted into a system to tamper with the confidentiality, integrity, or availability of data. It is done secretly and can corrupt your data, applications, cloud or operating system. Malware has become one of the most challenging threats to systems. It can cause a lot of damage and disruption, and requires the efforts of all technicians in most organizations. Organizations also face similar threats from several forms of non-malware threats, associated with malware. A common threat is phishing, which involves tricking individuals into revealing sensitive or personal information.
2. Distributed Denial of Service (DDoS) Attacks: DDoS attacks make an online service unavailable or reachable by bombarding it with excessive traffic from many locations and sources. Website response time becomes slower, preventing access during a DDoS attack. According to mass.government, Cyber criminals develop large networks of infected computers called Botnets by planting malware. A DDoS attack may not be the primary cyber crime. The attacks often create a distraction while other types of fraud and cyber intrusion are attempted.
3. Spam & Phishing: Spam includes unwanted, unsolicited, or undesirable messages and emails. Phishing is a form of social engineering, which includes attempts to get sensitive information. Phishing attempts always appear to come from a trustworthy person or business. Cyber criminals pretend to be an official representative or a loved one, or someone you know, sending you an email or message with a warning related to your account information. The message will often ask for a response by following a link to a fake website or email address where you will provide confidential information. Any information entered into the fake link goes to the cyber criminal.
4. Corporate Account Takeover (CATO): According to mass.government, CATO is a business entity theft where cyber thieves impersonate the business and send unauthorized wire and ACH transactions. The unauthorized funds are sent to accounts controlled by the cyber criminal. Many businesses are vulnerable to a CATO attack, and Institutions with weak computer security and minimal controls over online banking systems are easy targets. This form of cyber crime can result in huge loss of files and data. Cyber criminals use malware to infect a computer through email, websites, or malware disguised as software.
5. Automated Teller Machine (ATM) Cash Out: ATM Cash Out is a type of large dollar value ATM fraud. Cash-outs involve simultaneous large cash withdrawals from several ATMs in many regions. It may also include large withdrawals at one ATM. The Cash Out usually affects SME financial institutions. It involves changing the settings on ATM web-based control panels. Cyber criminals change the ATMs dispense function control to “Unlimited Operations”, and this setting allows withdrawal of funds over the customer’s account balance or beyond the ATM’s cash limit. Also, stolen ATM or debit card information is often used to withdraw the funds. Due to this, your financial institution can suffer large dollar losses.
Cyber threats can be life threatening, due to the financial loss, and emotional stress. Having the proper knowledge of these attacks can reduce these attack occurrences in your organization, and the world at large.
We are Platview Technologies. We are an innovative and agile cybersecurity company with the goal of safe-guarding businesses with our world-class, industry-leading services and technology solutions. We commit to understanding your business objectives and goals to align a tailored security services and strategy allowing your business to grow without added security risk.