What is a Cyberattack?
A cyberattack is an intentional effort to harm, steal, or disrupt data and assets by unauthorized access to networks and devices. It exploits system weaknesses like software flaws to breach security (“Cybersecurity Basics”, K. Martin, 2022).
The Cost and Impact of Cyberattacks
The 2023 IBM Cost of a Data Breach Report states that the average cost of a data breach in 2023 was $4.45 million, up 15% in three years. Using AI and automation can shorten breach lifecycles by 108 days. Working with law enforcement can reduce breach costs by $470,000 on average. This report analyzes data breaches from 553 organizations globally between March 2022 and March 2023 (IBM’s 2023 Cost of a Data Breach Report).
Why Do Cyberattacks Happen?
The motivations behind cyberattacks can vary, but there are three main categories: criminal, political, and personal. Criminally motivated attackers seek financial gain through monetary theft, data theft, or business disruption. Cybercriminals may hack into a bank account to steal money directly or use social engineering scams to trick people into sending money to them. Hackers may steal data and use it to commit identity theft or sell it on the dark web or hold it for ransom. (PwC, “Cyber Threats 2022”).
Personal Motives: Human factors like errors and phishing are involved in 82% of breaches. External threats are more common than internal ones, personally motivated attackers, such as disgruntled current or former employees, primarily seek retribution for some perceived slight. They may take money, steal sensitive data, or disrupt a company’s systems. (SecureWorld, “Global Cyber Threats”).
Politically motivated attackers are often associated with cyberwarfare, cyberterrorism, or “hacktivism.” In cyberwarfare, nation-state actors often target their enemies’ government agencies or critical infrastructure. For example, since the start of the Russia-Ukraine War, both countries have experienced a rash of cyberattacks against vital institutions (PwC, “Cyber Threats 2022”).
Other Motives: Factors like internet infrastructure and education levels can lead to crimes like corporate espionage (Nature, “Exploring the global geography of cybercrime”).
Types of Threat Actors
Activist hackers, called “hacktivists,” may not cause extensive damage to their targets. Instead, they typically seek attention for their causes by making their attacks known to the public.
Less common cyberattack motivations include corporate espionage, in which hackers steal intellectual property to gain an unfair advantage over competitors, and vigilante hackers who exploit a system’s vulnerabilities to warn others about them. Some hackers simply hack for sport, savoring the intellectual challenge.
Criminal organizations, state actors, and private persons can all launch cyberattacks. One way to classify threat actors is by categorizing them as outsider threats or insider threats. (ENISA Threat Landscape 2023).
Outsider threats aren’t authorized to use a network or device but break in anyway. External cyberthreat actors include organized criminal groups, professional hackers, state-sponsored actors, amateur hackers, and hacktivists.
Insider threats are users who have authorized and legitimate access to a company’s assets and misuse their privileges deliberately or accidentally. This category includes employees, business partners, clients, contractors, and suppliers with system access.(Deloitte’s Cybersecurity Threat Trends Report 2023).
Cyberattack Prevention Strategies:
Identity and Access Management (IAM): IAM is crucial in cybersecurity. The CrowdStrike 2023 report emphasizes that controlling who can access your network and managing their identities are key to protecting against cyber threats. Think of it as having secure locks and guest lists for your digital doors.
Data Security and Data Loss Prevention (DLP): These tools are like vaults and alarms for your digital assets. They keep your sensitive information safe and alert you if there’s a breach attempt. The Deloitte report points out their importance, even though the specific M. Brown report is unavailable.
Firewalls and Security Awareness Training: Firewalls act as gatekeepers, deciding what digital traffic is safe. Security training is like teaching everyone in your organization to recognize suspicious activities. Both are fundamental in a good defense strategy.
Vulnerability Management: This is about regularly checking your digital environment for weak spots, much like inspecting a building for cracks and fixing them before they become bigger problems.
ASM (Attack Surface Management) and UEM (Unified Endpoint Management): ASM involves continuously scanning the digital landscape to understand and minimize areas vulnerable to attacks. UEM is about managing and securing all user devices (like phones, laptops) in a unified way. Both are about having a complete picture and control over your digital presence.
In summary, these strategies are about controlling access, protecting data, educating people, fixing vulnerabilities, and managing your digital landscape comprehensively. Reports from CrowdStrike, Deloitte, and ENISA all stress the importance of these approaches for effective cyberattack prevention.
