Stay Alert: Cyber-attack Methods Advance
The first hacking instance recorded dates back to 1834. Thieves compromised the French telegraph system to steal invaluable financial market information, pulling off the first cyberattack in recorded history [1].
Fast forward into the 21st century and digital transformation has taken off — delivering efficient PCs in place of telegraphs. The uneasy side to this equation involves the staggering rate we have seen cyber threat tactics evolve while increasing in frequency.
In this article, we’ll cover common cybersecurity risks small and medium-sized businesses (SMBs) face, the sophisticated methodologies attackers use today and an effective solution partners can deploy to shield their organization and clients from these malicious threats.
SMBs Sit at a Vulnerable State
According to Check Point Research, 50% more attack attempts per week were identified across corporate networks globally in calendar year 2021 compared with 2020 [2]. The numbers tell us any company is susceptible these risks without the right preparation. Hybrid workplace norms add another layer to further complicate things.
Organizations across the board, large and small, benefit from factoring in proactive efforts to strengthen their organization’s security strategy at a time of relentless cyber-attacks.
In particular, SMBs often find themselves in a more vulnerable situation considering fewer head counts with staff, lesser budgets and limited resources. They become the easy target.
By the Numbers:
- 63% of confirmed data breaches leverage a weak, default or stolen password.
- Cyber-attacks caused by compromised employee passwords cost $383,365 on average.
- 60% of small businesses targeted as victims of a cyber-attack go out of business within six months.
These statistics from Fundera appear intimidating, but for SMBs aware of the threat landscape and ways to mitigate risks, there is plenty of promise [3]. It’s possible to build a resilient security strategy.
Cyber Attack Methodologies: Look Out for Sophisticated Threats
Internet users face a constant threat of cyber-attacks. What’s out there? How are breaches occurring?
Here is a quick reference guide from Matt Hamilton, TD SYNNEX Director of Global Solutions Factory to arm you with this critical knowledge:
- Brute Force & Password Spray — Cybercriminals rely on brute force and password spray attacks to assume unauthorized access to a singular account. It’s a password guessing game used to determine account credentials through trial and error. Password sprays involve a multi-account approach, where attacks target a larger volume of accounts. Often, passwords such as “Password1234” will be blocked- but “firstname1234” will not be. Don’t fall victim to weak passwords!
- Malware — Gaining control to admin accounts within your corporate environment opens a host of opportunities for hackers to access services such as SaaS, PaaS or your virtual machines. The attacker can then launch malicious activities to manipulate or steal data and deploy workloads to your accounts and systems.
- Cryptojacking — Occurs when a cloud account or machine is compromised to mine forms of online currency referred to as cryptocurrencies. Recently, compromising cloud accounts instead of individual machines has been on the rise. For more insights, reference the following article.
- Phishing Attacks — Fraudulent communications that appear to be shared from a trustworthy source, usually through email. The end goal is to steal sensitive data such as credit card and login details or to install malware.
Technology companies across the channel are battling these instances of cyber threats head on with vigorous security products — and taking appropriate steps based on industry best practices to protect your cloud accounts across all users is critical.
Keep Calm: Strengthen your Security Strategy
As a leading global solutions aggregator and top Microsoft distribution partner, TD SYNNEX leveraged our expertise to create the SMB Fraud Defense Click-to-Run™ solution to help our partners mitigate fraudulent activities and elevate their SMB customers’ Azure environment security posture.
Pre-configured and deployable in 30 minutes or less, the solution proactively detects and prevents potential malicious cyber-attacks.
Check out 5 key benefits:
- Detect and Prevent Attacks. Alerting mechanisms act as the first line of defense to shield against any fraudulent activities detected within customers’ Azure environments.
- Enforce Identity and Multi-Factor Authentication (MFA) A Microsoft best practice, activating MFA adds another fortified barrier for attackers to break through. MFA is the way to go — as it can block over 99.9 percent of account compromise attacks [4].
- Set Thresholds for Azure Cost Management. Strict Azure cost management is another Microsoft-recommended practice. Thresholds are set for Azure cost management, then proactive alerts are sent if any unusual activity is identified that may suggest fraudulent behaviors. This is critical considering partners and their end user clients are fully responsible for all cloud consumption spend regardless of validity or fraudulent practice.
- Implement Fully Customizable Conditional Access Policies. Pre-packaged with password policies galore, customizable options can be tailored to your specific use case.
- Elevate End Customers’ Azure Environment. Achieve security resiliency across Azure cloud environments for your business and your SMB clients.
TD SYNNEX is on your team. Maximize your security potential and that of your clients with the SMB Fraud Defense solution. Learn how.
Sources:
- Cybersecurity CEO: The History Of Cybercrime, From 1834 To Present (cybersecurityventures.com)
- Check Point Research: Cyber Attacks Increased 50% Year over Year — Check Point Software
- New CyberCatch Research Discovers Alarming Increase in Cyber Vulnerabilities for Small and Medium Sized Businesses in US and Canada (darkreading.com)
- One simple action you can take to prevent 99.9 percent of attacks on your accounts (microsoft.com)
