High Stakes in Cyber Defense: Key Cybersecurity Lessons for Business Leaders
In today’s digital landscape, where cyber threats lurk at every corner, businesses face the daunting task of defending their networks against increasingly sophisticated attacks. In fact, according to the newly released 2024 Comcast Business Cybersecurity Threat Report, there’s been a marked increase in the frequency and complexity of attacks, particularly in areas like phishing, ransomware and the exploitation of public-facing applications.
As organizations grapple with a constant barrage of potential security breaches, the challenge is not only in guarding against such attacks but also in anticipating them. One thing is clear now more than ever – businesses of every size and industry need to adopt comprehensive security measures that include both technological solutions and human awareness training.
This Cybersecurity Awareness Month, here are three things that every organization, regardless of size, should know about protecting against cyber breaches.
1) Despite advancements in tech, old-fashioned tricks are still alarmingly effective
Cyber attackers have a large arsenal of potential network-breaching tactics, but phishing continues to be their favored technique for gaining initial access to a network. After all, it’s cheap, flexible, easy to deploy and highly successful. Comcast Business tracked more than 2.6 billion interactions in 2023, which led victims to 119 top level phishing domains. The resulting breaches cost businesses an average of $4.91 million, illustrating the severe economic impact of phishing.
Voice phishing, or “vishing,” leverages the simplicity of a phone call to deceive victims. In these scenarios, attackers pose as legitimate company personnel to coax information from unsuspecting employees or users, such as passwords or sensitive data.
Both phishing and vishing are particularly strong tactics for manipulating human psychology. By exploiting human nature, attackers can gain the initial access needed to infiltrate further into the network. And that’s when the problem gets even bigger.
After successfully gaining initial access, attackers can stay hidden and compromise domain servers and databases, from which vast amounts of credentials and other confidential information can be harvested. Typically, they deploy malware to probe for weaknesses and assess whether the compromised network warrants further exploitation. The ability of this malware to remain undetected not only facilitates continuous access but also increases the strategic value of the attack.
2) A potential breach may be closer than it appears
Cyber-attacks illustrate that no organization is impervious. Even businesses perceived as digital strongholds are at risk if attackers identify the correct vulnerabilities to exploit.
Adversaries are continuously probing networks, systems and users, seeking exploitable weaknesses – and typically it’s all happening without you realizing it. The reality of attack attempts is a constant, unavoidable threat.
The vulnerability landscape is expanding with each passing year, making it easier for attackers to exploit a growing number of security flaws in common business software applications. In fact, Comcast Business observed a staggering 29 billion cybersecurity events across its pool of security customers in 2023 – an increase from the 23.5 billion events detected in 2022.
This escalation underscores the sophisticated and relentless nature of today’s cyber attackers. In these instances, attackers aim to infiltrate systems, move around laterally, escalate user privileges, target and compromise critical assets, and either extract or destroy valuable data.
One of the biggest challenges arises when an adversary acquires “legitimate credentials.” Such credentials allow attackers not only to authenticate into systems but also to bypass security measures, escalate privileges and conduct harmful activities unchecked. In 2023, Comcast Business observed nearly 296 million events where attackers attempted to steal and manipulate authentication credentials.
3) A proactive approach is essential for effective cybersecurity
In a world filled with uncertainties, it’s crucial to concentrate on the elements within your control. One of which is your choice to either proactively prepare for potential cyberattacks or reactively manage their consequences.
Gaining insights from historical security and data breaches is vital for understanding how to prevent becoming a target. However, simply being aware of the threats isn’t sufficient.
Technology teams now benefit most from an integrated combination of robust security solutions that provide comprehensive protection. This setup should also include managed security services from a reliable provider, to help enhance or supplement the capabilities of internal teams. These strategies are essential, not just for preventing unauthorized network access, but also for actively detecting and neutralizing threats should they penetrate your defenses.
For most companies, experiencing a cyberattack is likely inevitable. That’s why a clear strategy and a detailed cybersecurity roadmap are must-haves. Many organizations have isolated security measures in place that can actually create significant network vulnerabilities. Just as attackers employ various tactics to overcome security barriers, defenders must adopt a multi-faceted and proactive approach to effectively secure their digital domains.
Visit https://business.comcast.com/enterprise/products-services/cybersecurity-services to learn more about how Comcast Business can support your team’s cybersecurity needs.
