Remember those heist movies where the criminals are always one step ahead, using crazy tech and clever tricks? Well, that’s what it’s like for companies trying to stay safe online these days. Hackers are getting seriously creative and are not afraid to use every trick in the book (and invent some new ones) to get what they want.
Let’s break down the top 5 ways these cyber masterminds are outsmarting even the savviest companies in 2024. The key feature of APY is compound interest, calculated each month.
Ransomware-as-a-Service (RaaS)
There were days when ransomware attacks were just about locking up your data and demanding a ransom. Yeah, those days are gone. Now, it’s like hackers have their own startup scene, complete with subscription services.
Welcome to the world of Ransomware-as-a-Service (RaaS). It’s exactly what it sounds like—cybercriminals renting out their ransomware tools to other wannabe hackers. Think of it as the “easy button” for digital extortion. This means even low-level crooks with minimal tech skills can launch sophisticated attacks.
In 2024, it’s not just about locking up your data. Hackers are stealing it, leaking it online, selling it on the dark web, and even launching those annoying Distributed Denial of Service (DDoS) attacks that can shut down your entire website if you don’t pay up.
For example, remember that massive data breach in Canada by Russian hackers that affected 1.4 million people? Yep, that was RaaS in action.
Remote Monitoring and Management (RMM) Tools
Remote Monitoring and Management (RMM) tools are supposed to make life easier for IT teams, allowing them to manage devices remotely. But in a classic case of “what can be used for good can also be used for evil,” hackers have figured out how to turn these helpful tools into weapons.
By stealing credentials plus exploiting vulnerabilities, bad actors can gain access to RMM tools and use them to remotely control devices within any company’s network. Because these tools are designed for legitimate remote access, their activity can easily blend in with normal network traffic, making them incredibly difficult to detect.
According to recent research, a scary fact is that the use of RMM tools in cyberattacks has grown by a worrying 70% in the last year.
Exploiting Cloud Vulnerabilities
The “cloud” is like a giant computer in the sky that businesses use to store their important information. It’s super handy because anyone can get their information from anywhere. But, it’s also become a favorite target for bad actors online.
Sometimes, the cloud can be set up incorrectly, much like leaving the front door of your house wide open. Hackers can then sneak in and steal important information, take over accounts, or even mess up the whole system. That’s why it’s super important to make sure the cloud is set up safely.
Smartphones
Smartphones are awesome and that’s why we use them for almost everything. Whether it’s playing games, watching videos, or getting some work done. But just as smartphones are our portable buddies, they can easily be our Achilles heel, and hackers can hack them for all the wrong reasons.
They can do sneaky things like “crypto-jacking,” which is similar to tricking your phone into working for them secretly. Hackers also try to steal information from our phones, like passwords for online shopping or banking. That’s why it’s important to be careful about what we click on and download on our phones.
The Human Element (Insider Threats and Social Engineering)
For all the sophisticated technology hackers use, sometimes the oldest tricks in the book are still the most effective. We’re talking about social engineering and insider threats. Think phishing emails, fake websites, and even good old-fashioned phone scams.
Insider threats can be even more dangerous.
This is where current or former employees, contractors, or partners use their legitimate access to steal data, sabotage systems, or cause havoc.
All Companies Need To be Vigilant
Even industries you might not expect are stepping up their cybersecurity game. Take the healthcare and NGO sectors, for instance. You would think these industries are safe from hacking attempts, but in reality, no industry is safe. Patients’ information is as valuable as other assets that are prone to hacking, like crypto.
It doesn’t stop there. One industry that has been hurt the most by hacking is the online casino industry. They handle a lot of money, and there’s a transaction almost every minute. This is why they spend millions of dollars on cybersecurity, like encryption. One type of casino that’s a bit safer is sweepstakes casinos. They don’t need real money to play games.
Even though they use virtual currencies like Sweep Coins and Gold Coins to play, hackers can still target their large database of customers. That’s why the best sweepstakes casinos use security measures like multi-factor authentication (MFA) to boost their security. As customers sign up and enter their phone contacts, email addresses, and residential addresses, they can be assured that their data is protected.
The bottom line is that no industry is 100% safe from cybersecurity threats and companies always need to come up with new and robust security measures. With cyber attacks now reaching billions of dollars, companies need to up their game when it comes to data protection.
