What is Spear Phishing: 5 keys to protect your business

What is Spear Phishing: 5 keys to protect your business

Spear phishing is a highly targeted form of cyber-attack executed through personalised emails or messages to deceive specific individuals, characteristics that make it very dangerous and effective.

What is spear phishing?

Spear phishing is defined as a cyber attack technique that focuses on specific targets, as opposed to traditional phishing that targets a broad audience. In a spear phishing attack, cybercriminals research and collect information about their victims to create personalised and convincing messages. These messages often appear legitimate and may include details such as names, job titles, and professional relationships, which increases the likelihood that the victim will fall for the scam. The main goal of spear phishing is to trick the victim into revealing confidential information, such as passwords, banking details or sensitive corporate information. Attackers can use this information to commit fraud, steal identities or infiltrate corporate networks.

What is the difference between phishing and spear phishing?

Phishing and spear phishing are cyber-attack techniques that seek to trick victims into revealing sensitive information, but differ in their approach and execution.

Phishing is a massive and widespread attack. Cybercriminals send emails or messages to a large number of people, hoping that some will fall for it. These messages often look legitimate and may include links to fake websites that mimic real ones. The aim is to obtain information such as passwords, credit card numbers or personal data. Due to their mass nature, phishing messages are often less personalised and easier to detect. Spear phishing, on the other hand, is a targeted and personalised attack. Attackers research their victims and collect specific information about them, such as names, job titles, and professional relationships. They use this information to create highly personalised messages that appear to come from trusted sources. Because of their level of personalisation, spear phishing attacks are harder to detect and have a higher success rate. The goal is the same - to obtain sensitive information - but the approach is much more sophisticated and targeted. If you want to find out more about phishing techniques, click here→ Phishing: what it is and how many types there are.

How spear phishing attacks work

Due to their high level of customisation, spear phishing attacks take a long time to prepare and involve the attackers' actions of recognising and searching for exposed sensitive information. The preparation and execution phases of a spear phishing attack typically include:

Choice of target

Targeting is the first step in this type of attack. Attackers carefully select their victims based on their position, access to sensitive information or influence within an organisation. To choose a target, attackers conduct extensive research using various sources of information, such as social networks, corporate websites and public databases. Depending on the attacker's desired outcome, the target can be a senior manager of an organisation or a person with significant wealth, but also an employee with sufficient leverage to provide certain keys or carry out a specific action.

Target research

Once the target has been selected, the attackers then set about gathering detailed information about the victim in order to increase the likelihood of the attack's success. This research phase involves the use of various techniques and sources of information. Attackers usually start by searching for publicly available information on social networks, corporate websites and public databases. They analyse profiles on LinkedIn, Facebook, Twitter and other platforms to obtain data on the victim's professional and personal life. They may also review press releases, news articles and blogs to obtain more context about the organisation and the victim's role within it. Once this information is obtained, attackers enter the rest of the layers of the web, the deep web and the dark web, in search of leaked and exposed sensitive information about the victim or the organisation to which he or she belongs. This type of information, as it is not public and the victim is unaware of its exposure, is the most effective for the success of the attack. In addition, attackers can use social engineering techniques to obtain additional information. This includes sending test emails or making phone calls to collect specific data without arousing suspicion. This information obtained includes details about the victim's contacts, communication habits, personal and professional interests and is used by attackers to personalise the attack.

Creating and sending the message

Creating and sending the message is the final step in a spear phishing attack. Once the attackers have selected and studied their target, they use the information gathered to craft a highly personalised and convincing message. This message is designed to appear legitimate and relevant to the victim, thus increasing the likelihood that they will fall for it. The message can take various forms, such as an email, text message or social media communication. Attackers mimic the communication style of a person or entity trusted by the victim, such as a colleague, a superior or a financial institution. The content of the message may include malicious links, infected attachments, or requests for confidential information or specific actions. To increase the credibility of the message, attackers may use spoofing techniques to make the sender appear legitimate. They also often use urgency or scare tactics to pressure the victim to act quickly without much thought or analysis. Once the message is ready, the attackers send it to the victim with the intention that the victim will open it and follow the instructions provided. If the victim falls into the trap, they may reveal sensitive information, such as login credentials, or download malware that compromises their device and the organisation's network.

Keys to preventing spear phishing cyber attacks

To prevent a spear phishing cyber-attack, the keys cover a wide field ranging from the organisation's strategy to the analytical attitude of the individual.

Avoid suspicious links and files

One of the main tactics used in spear phishing is sending emails with malicious links or attachments. These links may redirect to fake websites designed to steal login credentials, while the attachments may contain malware that infects the victim's device. To protect yourself, it is crucial to be cautious when receiving unsolicited emails, especially those containing links or attachments. Before clicking on a link, it is advisable to verify the URL by hovering over the link to ensure that it leads to a legitimate website. In addition, it is important not to download or open attachments from unknown or suspicious senders.

Keeping software up to date

Cybercriminals often exploit vulnerabilities in software to carry out their attacks. These vulnerabilities are bugs or weaknesses in code that can be exploited to gain access to sensitive systems and data. When software developers discover these vulnerabilities, they often release updates or patches to fix them. If software is not updated regularly, these vulnerabilities remain open and can be exploited by attackers. Therefore, keeping software up to date is crucial to close these security gaps. Furthermore, software updates not only fix vulnerabilities, but also improve system functionality and performance, providing a more secure and efficient user experience. This includes operating systems, web browsers, applications and security software. To ensure that software is always up to date, it is advisable to enable automatic updates whenever possible. It is also important to watch for update notifications and apply them immediately.

Cybersecurity training

Spear phishing is based on social engineering, where attackers trick victims into revealing sensitive information. Cybersecurity education and awareness helps individuals and organisations to recognise and avoid these fraud attempts. Proper cybersecurity training teaches users how to identify suspicious emails, malicious links and dangerous attachments. It also provides them with the necessary tools to verify the authenticity of communications and avoid falling into common traps. In addition, cybersecurity training fosters a culture of security within organisations. Well-informed employees are more likely to follow security best practices, such as using strong passwords, enabling two-factor authentication and regularly updating software. This significantly reduces the risk of a successful spear phishing attack.

Contact cyber-security and cyber-intelligence experts

Cybersecurity and cyber intelligence professionals have the knowledge and experience to identify and mitigate threats before they cause harm. By working with experts, organizations can benefit from a thorough assessment of their security systems and receive personalized recommendations to strengthen their defenses.
In addition, these professionals are aware of the latest cybersecurity trends and the tactics used by cybercriminals, allowing them to anticipate and neutralize potential attacks.
On the other hand, cyber intelligence experts specialize in data analysis and identifying suspicious patterns. They can monitor networks for unusual activity and provide early warnings about potential threats. Their ability to analyze large volumes of information and detect anomalous behavior and open security breaches is crucial to preventing spear phishing attacks.
You may be interested in→ Keys to preventing a data leak.

Establishing a proactive cyber security strategy

A proactive cyber security strategy involves anticipating threats and taking preventive measures before security incidents occur. This not only reduces the risk of successful attacks, but also minimises the impact of any intrusion attempts. The proactive security strategy starts with a comprehensive risk assessment to identify potential vulnerabilities in the organisation's systems and processes. Based on this assessment, appropriate security measures can be implemented. In addition, it is essential to establish clear policies and procedures for information security management. Finally, it is essential to continuously monitor the attack surface, both internally and externally, for suspicious activities, open breaches and exposed vulnerabilities.
Translated with DeepL.com (free version)

Relevant examples of spear phishing

There are numerous examples of spear phishing attacks in Spain and the rest of the world, demonstrating the proliferation of the technique.

Some highlights include:

• Santander Bank (2020). Victims received emails that appeared to be from the bank, asking them to update their security information. This led several customers to reveal their banking credentials.
• UK universities (2020). The attackers sent emails to students and staff at several UK universities, posing as the university's IT department and asking them to update their passwords. Several university accounts were compromised following the attack.
• Hillary Clinton presidential campaign (2016). John Podesta was Hillary Clinton's campaign manager when he was the victim of a spear phishing attack. After receiving an email that appeared to come from Google, and following the procedure it instructed him to do, he changed his password on the platform. This allowed hackers to access his emails, which were then leaked.
• Technology companies in Germany (2019). Attackers sent a group of German technology companies emails that appeared to come from IT service providers. In these emails, employees were asked to download important software updates, which led to the installation of malware on the companies' systems.

Enthec helps you to protect your organisation against spear phishing

Through its automated and continuous monitoring technology of the web, deep web, dark web, social networks and forums, Enthec helps organisations and individuals to locate leaked and exposed information within the reach of cybercriminals, to neutralise spear phishing attacks, implementing a proactive protection strategy. If you need to know more about how Enthec can help you protect your organisation and its employees against spear phishing, do not hesitate to contact us.

by Enthec

Relevance of perimeter cyber security for your business

Relevance of perimeter cyber security for your business

The concept of an organisation's cyber-security perimeter is bound to expand to adapt to the increasing sophistication of cyber-attacks to encompass the external surface of the organisation as well.

What is perimeter security in cyber security?

In cyber security, perimeter security refers to the measures and technologies implemented to protect the boundaries of an organisation's internal network. Its main objective is to prevent unauthorised access and external threats by ensuring that only legitimate users and devices can access the network. Perimeter security is crucial because it acts as the first line of defence against cyber-attacks, acting as a barrier. By protecting the entry and exit points of the network, it reduces the risk of external threats compromising the integrity, confidentiality and availability of data. Key components of perimeter security in cyber security include:

• Firewalls: act as a barrier between the internal and external network, filtering traffic based on predefined rules.
• Intrusion Detection and Prevention Systems (IDS/IPS): monitor network traffic for suspicious activity and have the capability to take action to block attacks if necessary.
• Virtual Private Networks (VPNs): allow secure and encrypted connections between remote users and the internal network. With the implementation of remote working, the use of VPNs in the enterprise has become widespread.
• Web security gateways: filter web traffic to block malicious content and unauthorised sites.
• Authentication and access control systems: verify the identity of users and control which resources they can access.

With the rise of remote working, the sophistication of attacks and the adoption of cloud technologies, perimeter security has evolved. Networks no longer have clearly defined boundaries, which has led to the development of approaches such as Zero Trust, where it is assumed that no entity, internal or external, is trusted by default, or concepts such as extended perimeter cybersecurity, which extends surveillance to the external perimeter of an organisation. If you want to keep up to date→ 5 cybersecurity trends you need to know about.

Network Perimeter Security Guidelines

In order to achieve effective network perimeter security, it is necessary for the organisation to follow, as a minimum, the following guidelines:

Authentication

Authentication ensures that only authorised users and devices can access network resources. It involves verifying the identity of users before allowing them access, which helps to prevent unauthorised access and potential threats. Different authentication methods include:

1. Passwords. The most common method, but can be vulnerable if strong and unique passwords are not used or not stored securely.
2. Two-factor authentication (2FA). It adds an additional layer of security by requiring a second factor, such as a code sent to the user's mobile phone.
3. Biometric authentication. It uses unique physical characteristics, such as fingerprints or facial recognition, to verify the user's identity.
4. Digital certificates. Used primarily in enterprise environments, these certificates provide a secure and official way to authenticate devices and users.

It is imperative that the organisation implements strong password policies, enforcing that they are complex and regularly changed, and that it is accountable for ensuring that these policies are known and followed. In addition, it is important that access attempts are monitored to detect and respond to suspicious or failed access attempts.

 

Integrated security solutions

Integrated security solutions are essential in network perimeter security by combining multiple technologies and tools into a single platform to provide more comprehensive and efficient protection. They enable organisations to manage and coordinate multiple security measures from a single point, making it easier to detect and respond to threats. Integrated solutions are recommended because they improve an organisation's operational efficiency by centralising security management and reducing complexity. They also provide a unified view of network security, making it easier to identify and respond to threats. They are also scalable, allowing organisations to adapt to new threats and security requirements without the need to deploy multiple standalone solutions. Integrated security solutions include:

1. Next generation firewalls (NGFWs): offer advanced traffic filtering, deep packet inspection and intrusion prevention capabilities.
2. Intrusion Detection and Prevention Systems (IDS/IPS): monitor network traffic for suspicious activity and can block attacks in real time.
3. Web and email security gateways: protect against web and email-based threats such as malware and phishing.
4. Security information and event management (SIEM) systems: collect and analyse security data from multiple sources to identify patterns and alert on potential incidents.
5. Virtual Private Networks (VPNs): provide secure, encrypted connections for remote users.

For a correct integration of the solutions, it is advisable to carry out a gradual implementation, to minimise interruptions, to provide continuous training on the tools to the responsible personnel and to keep the solutions updated and monitored.

Shared security

Shared security is a collaborative approach to network perimeter security that has gained momentum since the expansion of cloud services. It involves cooperation between different entities, such as service providers, customers and partners, to protect the network infrastructure. This model recognises that security is a joint responsibility and that each party has a crucial role in protecting data and resources. The main characteristics of shared security are:

• Mutual responsibility: Both service providers and customers have specific responsibilities for network security. For example, providers may be responsible for physical and infrastructure security, while customers must manage the security of their applications and data.
• Transparency and communication: open and transparent communication between all parties involved is essential to effectively identify and mitigate potential threats.
• Common policies and procedures: Establishing security policies and procedures that are consistent and understood by all parties helps to ensure a coordinated response to security incidents.

For security sharing to be truly effective, the responsibilities of each party involved need to be clearly defined and delineated. In addition, communication channels must be established to allow for the rapid and continuous exchange of information on threats and best practices. Regular audits periodically assess the effectiveness of security measures and adjustments can be made as necessary.

Limitations of perimeter cyber security

As technologies have evolved, the original strict concept of perimeter security limited to the internal environment has presented some important limitations that affect its effectiveness in protecting organisations, such as:

Third-party risk

One of the biggest challenges for perimeter security is third party risk. This risk arises when external organisations, such as suppliers, partners or contractors, have access, for operational reasons, to a company's internal network. Third parties are a weak point in perimeter security as they often have different security standards and policies than the host organisation, which can lead to vulnerabilities. Cybercriminals can use these third-party vulnerabilities as a gateway to access the internal network. For example, a vendor with compromised credentials can be used to launch an attack. In addition, third-party management is complex and difficult to monitor. Organisations often have multiple vendors and partners, which increases the attack surface. The lack of visibility and control over the actual and updated cybersecurity status of these third parties ends up becoming an organisational vulnerability. Access our publication→ Third-party risk for organisations.

Complexity of IT systems

The complexity of IT systems is another important limitation of perimeter security. Modern IT systems are composed of a multitude of interconnected components, such as servers, network devices, applications and databases. This interconnectedness creates a large and difficult to protect attack surface. One of the challenges of complexity is managing multiple technologies and platforms. Each component may have its own vulnerabilities and require different security measures. In addition, integrating legacy systems with new technologies can lead to incompatibilities and security gaps. Complexity also makes visibility and control difficult. With so many and varied components and connections, it is difficult to have a complete view of the network and to detect suspicious activities. A relevant aspect of this complexity is patch and update management. Keeping all components up to date and protected against known vulnerabilities becomes an arduous task. Lack of updates leaves open doors for attackers.

Sophistication of cyber-attacks

Attackers are using increasingly advanced and complex techniques to evade traditional defences and penetrate corporate networks.

One of the key factors is the use of automated tools and artificial intelligence by attackers. These tools can scan networks for vulnerabilities, launch coordinated attacks and adapt in real time to the defences in place. The proliferation of targeted attacks, known as zero-day attacks, exploit unknown vulnerabilities in software. These attacks are difficult to detect and mitigate, as there are no patches available for the exploited vulnerabilities. In addition, attackers are employing more elaborate social engineering techniques to trick users into gaining access to sensitive information. In this respect, people are the weakest link in an organisation's cyber security chain. When an attacker manages to trick the user himself into providing his personal credentials, for example, there is no perimeter security system capable of preventing the intrusion. Read our publication→ How to protect yourself amid a wave of cyber attacks on businesses.

 

Cost of perimeter armouring

The high cost of perimeter armour is a significant constraint to its proper design. Implementing and maintaining perimeter security measures is extremely costly, especially for organisations with large and complex networks. These costs include the acquisition of security hardware and software, the hiring of specialised personnel, and regular security audits and assessments. One of the most significant challenges is that threats are constantly evolving, requiring continuous upgrades and enhancements to perimeter defences. This can result in a never-ending cycle of expense, as organisations must constantly invest in new technologies and solutions to keep up with the latest threats. Furthermore, the cost of perimeter security is not just limited to the purchase of equipment and software. It also includes the time and resources required to manage and maintain these solutions. Staff training, implementation of security policies and incident response also contribute to the total cost.

Extended cyber security as an enhancement to perimeter cyber security

External perimeter security in organisational cyber security, also known as extended perimeter security, is a strategy that goes beyond traditional defences to protect digital assets in an increasingly interconnected environment. This strategy recognises that threats can originate both inside and outside the corporate network and seeks to nullify or proactively mitigate risks with security before they reach the corporate perimeter security barrier. One of the key benefits of extended cyber security is the ability to monitor and protect external access points, such as VPN connections and mobile devices. This is especially important in a world where remote working and mobility are increasingly common. Extended cyber security also includes the protection of cloud services. With the increased use of cloud-based applications and services, it is crucial to ensure that these environments are protected against unauthorised access and vulnerabilities. This can be achieved by implementing robust access controls, data encryption and continuous monitoring of cloud activity. Among all the advantages of extended cyber security is the ability to detect ongoing threats at the external perimeter of the organisation in an automated, continuous and real-time manner through Cyber Intelligence solutions. Within these solutions, the most evolved ones also include third party risk management. Cyber Intelligence solutions use advanced technologies, such as artificial intelligence and machine learning, to monitor the web, deep web, dark web and social networks for leaked corporate information, open breaches and exposed vulnerabilities and analyse large volumes of data. This enables a fast and effective response to security incidents, nullifying or minimising the potential impact on the organisation's systems.

Extends corporate perimeter cyber security strategy with Kartos by Enthec

Kartos XTI Watchbots is the Cyber Intelligence platform developed by Enthec to extend the security perimeter controlled by organizations.
By simply entering the organization's domain, Kartos provides real-time information on exposed vulnerabilities and open breaches in nine threat categories outside its IT perimeter.
In addition, Kartos by Enthec allows organizations to continuously and automatically control third-party risk, providing real-time data.
If you want to learn more about extended cybersecurity, download our whitepaper, Extended Cybersecurity: When Strategy Builds the Concept.
Contact us for more information on how Kartos can extend your organization's perimeter security strategy.

by Enthec

What is data encryption: features and how does it work?

What is data encryption: features and how does it work?

Data encryption is a fundamental security practice to protect digital information and ensure its integrity and privacy.

Data encryption: definition

Data encryption is the process of transforming readable information (plaintext) into an encoded format (cipher text) that can only be read by those in possession of a specific decryption key. This process ensures that data is inaccessible to unauthorised persons, thus protecting the confidentiality and integrity of the information. Its importance lies in several key aspects that ensure data integrity, availability and confidentiality:

• Privacy protection: Data encryption ensures that sensitive information such as personal, financial and health data remains private and secure. By converting plaintext to ciphertext, only authorised persons with the decryption key can access the information.
• Communications security: In digital communications, such as emails, instant messages and online transactions, encryption protects against interception and eavesdropping. By encrypting transmitted data, it ensures that any attempt to intercept the communication results in information that is unreadable to attackers.
• Compliance: Many regulations and laws, such as the General Data Protection Regulation (GDPR) in Europe, require the use of encryption to protect personal data. Compliance with these regulations not only avoids legal sanctions, but also demonstrates an organisation's commitment to protecting its customers‘ and users’ information.
• Cyber-attack and fraud prevention: Data encryption helps prevent unauthorised access and misuse of information, preventing the risk of fraud and cyber-attacks. Attackers attempting to access encrypted data will face a significant barrier, hindering their efforts and protecting critical information.
• Intellectual property protection: In the business environment, data encryption protects intellectual property such as trade secrets, patents and confidential documents. This is essential to maintain competitive advantage and prevent the leakage of valuable information.
• Customer trust: The use of database encryption also contributes to building trust among customers and users. Knowing that an organisation takes steps to protect their personal information increases customer trust and loyalty, which can translate into long-term business benefits.

Main challenges of data encryption

Despite its benefits, data encryption presents challenges:

• Key management. The generation, distribution and secure storage of encryption keys are critical and complex.
• Rendimiento. El cifrado puede afectar el rendimiento de los sistemas, especialmente en el caso de cifrado asimétrico.
• Compatibility. It is necessary to ensure that systems and applications are compatible with the encryption methods used.

How data encryption works

The data encryption process is performed by means of mathematical algorithms and the use of encryption keys. Database encryption algorithms are mathematical formulae that transform plaintext into ciphertext. The encryption process consists of the following steps:

1. Key generation. An encryption key is generated which will be used to transform the plaintext into ciphertext.
2. Encryption. The encryption algorithm uses the key to convert plaintext into ciphertext.
3. Transmission or storage. Ciphertext is transmitted or stored securely.
4. Deciphered. The authorised receiver uses the corresponding key to convert the ciphertext back into plaintext.

Most effective techniques for data encryption

Keys are essential for data encryption and decryption. There are two main types of encryption:

• Symmetric Encryption: uses the same key to encrypt and decrypt data.
• Asymmetric Encryption: uses a public and a private key pair. The public key encrypts the data, and only the corresponding private key can decrypt it.

Each of these is explained in more detail below.

Symmetric encryption methods

Symmetric encryption is an encryption method that uses the same key to encrypt and decrypt data. It is known for its speed and efficiency, making it ideal for large volumes of data. Some of the most common methods include:

• AES (Estándar de cifrado avanzado). It is one of the most secure and widely used algorithms. It offers different key sizes (128, 192 and 256 bits) and is resistant to cryptographic attacks.
• DES (Data Encryption Standard). Although older and less secure than AES, it is still used in some applications. It uses a 56-bit key.
• 3DES (Triple DES). It improves the security of DES by applying the algorithm three times with two or three different keys.

Symmetric encryption is efficient, but secure key distribution is a challenge, as both parties must have access to the same key without compromising its security.

Asymmetric encryption methods

Asymmetric encryption uses a pair of keys: a public key and a private key. The public key is used to encrypt the data, while the corresponding private key is used to decrypt it. This method is more secure for data transmission, as the private key is never shared.

• RSA (Rivest-Shamir-Adleman). It is one of the best known and most widely used asymmetric encryption algorithms. It provides high security and is used in applications such as digital signatures and SSL/TLS certificates.
• ECC (criptografía de curva elíptica). It uses elliptic curves to provide a high level of security with smaller keys, making it more efficient in terms of performance and resource usage.

Asymmetric encryption is ideal for secure data transmission, although it is slower than symmetric encryption due to its mathematical complexity. If you want to keep up to date in this sector, we encourage you to access our content→ The 5 cybersecurity trends you need to know. Now that you know the examples of data encryption, it's time to discover its key benefits.

Key benefits of data encryption

Key benefits of database encryption include the following:

Data protection on different devices

Data encryption is an essential measure for protecting data on a variety of devices, including mobile phones, computers and servers. By converting information into a format unreadable to anyone without the decryption key, encryption ensures that sensitive data remains secure, even if the device is lost or stolen. This is especially relevant in a world where cyber-attacks are becoming increasingly common and sophisticated.

Maintaining data integrity

Encrypting data ensures that the information is not altered during storage or transmission. This is crucial to prevent malicious manipulation and to ensure that data remains accurate and reliable. In the context of data transmission, encryption protects information against unauthorised interception and modification. This is especially important in public or unsecured networks, where data may be vulnerable to attack. In addition, encryption helps to detect any tampering with the data, as any changes to the encrypted information will result in unreadable data when decrypted without the correct key.

Data migration to cloud storage

Data encryption is essential for secure data migration to cloud storage. Encrypting information before transferring it to the cloud ensures that data remains protected from unauthorized access during migration. This is especially important because data can be vulnerable to interception and cyberattacks while moving over public or private networks.
In addition, cloud database encryption ensures that only authorized individuals can access the stored information, thus protecting the privacy and confidentiality of sensitive data. This is crucial to comply with data protection regulations, such as the GDPR in Europe, which requires appropriate security measures.

Kartos XTI Watchbots, the Cyber Intelligence and Cybersecurity platform developed by Enthec, allows your organization to proactively, continuously, and in real-time control key aspects for correct data protection and compliance.
Contact us to know how Kartos can help you protect your data.

by Enthec

How to protect yourself amid a wave of cyber-attacks on businesses

Recent waves of next-generation cyberattacks on large organizations have shaken the business world, exposing vulnerabilities and challenging information security.

The reality of recent next-generation cyberattacks

The information on the recent waves of cyberattacks on companies in Spain and worldwide is alarming.
At the end of 2023, 73% of companies worldwide reported a fear of receiving a cyberattack in the following year, an increase of 8% compared to the previous year.
The outlook in Spain is also worrying, as 94% of companies have suffered a cybersecurity incident in the last year. Already in 2022, Spain ranked third globally in terms of cyberattacks.
Recent next-generation cyberattacks are sophisticated, targeted, and persistent. They use advanced techniques to bypass traditional security systems and cause significant damage.
These attacks are not limited to small and medium-sized companies with less protection capacity, but large organizations are also proving to be vulnerable targets.
Attackers use techniques such as targeted phishing, ransomware, and brute force attacks to penetrate enterprise networks, as well as zero-day vulnerabilities and security flaws unknown to the public and the software manufacturer.
These techniques are effective because they use the latest technologies, such as Artificial Intelligence or machine learning, in the design and execution of cyberattacks.
The impact of these recent cyberattacks is not limited to the short term and, sometimes, endangers the business's survival in the medium term. Immediate damage includes loss of sensitive data, disruption of business operations and services, damage to the company's reputation, and the cost of recovery.

Sectors most affected by the waves of cyberattacks on companies

In Spain, according to data provided by INCIBE, in 2023 the sectors most affected by cyberattacks were:

• Industrial sector: Spain is the fourth country in Europe with the most cyberattacks against the industrial sector, and attacks are expected to continue increasing and affecting new subsectors such as agriculture or livestock in their most digitized production phases.
• Healthcare sector: According to ENISA data, Spain ranks second in episodes of cybersecurity attacks in the healthcare sector in Europe, with 25 incidents recorded between 2021 and 2023.
• Financial sector: The financial sector maintained 25% of cyberattacks recorded in 2022 and 2023, which is a stable trend compared to other sectors.
• Transportation sector: This sector has also accumulated more than 25% of cyberattacks in 2023.
• Energy sector: the energy sector has exceeded 22% of cyberattacks in 2023, making it a sector in the spotlight due to the importance of its services.
• Insurance sector: The insurance sector is another sector most affected by cyberattacks. Last year, 94% of Spanish insurance companies suffered at least one serious cybersecurity incident.
• Telecommunications and technology: 18.3% of the incidents managed in 2023 were related to this sector.
• Public Administrations: Public Administrations are in the crosshairs of cybercrime due to the large amount of sensitive data they handle and their importance in the hectic global socio-political environment.
• SMBs: SMBs continue to register a significant number of cyberattacks, and their strategy is based on the cumulative benefit of the success of a large number of lower-yielding attacks.

These data do not differ much from those provided by ENISA for the European Union. The increase in cyberattacks on the European financial sector and the health sector so far this year is noteworthy.

Why are there more and more cases of successful cyberattacks on companies?

The frequency of different types of cyberattacks worldwide has increased significantly in recent years.

Specifically, in Spain, according to the 2023 Annual National Security Report, CCN-CERT managed 107,777 incidents, Incibe, 83,517 incidents, and ESDF-CERT, 1,480 incidents in 2023. This represents a significant increase compared to previous years. In 2018, INCIBE reported 102,414 incidents, representing a 15% increase in the frequency of cyberattacks on companies in just five years.
Among the main causes of the success of the recent waves of cyberattacks are:

• Lack of risk perception. Many companies, especially small and medium-sized ones, do not have a clear perception of the risks they run and do not bother to adopt a true cybersecurity strategy.
• Vulnerabilities in hardware and software. Devices used by employees and systems critical to the operation of companies are vulnerable to attacks and are the main point of entry in 18% of cases.
• Cybersecurity culture. The lack of a cybersecurity culture among workers and collaborators leads to errors and vulnerabilities that cybercriminals can exploit. Keeping staff and collaborators up to date with the latest developments and trends in cybersecurity means reducing the chances of success of social engineering techniques and reinforcing the protection of systems.
• Lack of proactive approach to cybersecurity. Data stolen in cyberattacks or leaked by security breaches often ends up on black markets, on the Dark Web, or the Deep Web, where it is sold to other criminals for various illicit purposes, such as designing new cyberattacks. Implementing a proactive approach to corporate cybersecurity allows you to locate data and breaches before they can be used to attack the organization
• Operations by notoriety. Cybercriminal groups operate by notoriety and feed off each other with increasingly complicated challenges to expose the security of large organizations. The increase in cyberattacks is driven by the growing notoriety of attacks and feedback among cybercriminals. This has led to an increased frequency and severity of recent cyberattacks and the peculiarity that they are executed in what appear to be planned waves.

The lack of investment in cybersecurity

Of all the causes of the success of recent cyberattacks on any company, one triggers the rest and forms the basis of this: companies lack a real and solid culture of investment in cybersecurity.

Corporate cybersecurity strategies and tools require planned and continuous investment that responds to the objectives of permanent updating and incorporation of the latest technologies and the most evolved solutions.
To prevent attacks from succeeding, it is urgent that organizations incorporate into their investment culture the idea that they must be one step ahead of cybercriminals in technological updating and evolution as a foundation for business continuity and growth.
It is enough to compare what an organization may consider a high expenditure on cybersecurity with the value of its databases, industrial and intellectual properties, liquid assets, products and services, brand, the trust of customers, partners and investors, or the cost of an erroneous risk calculation, among other things, to visualize that it constitutes a profitable investment in the business.
In the current scenario, providing the corporate cybersecurity strategy with the most advanced technologies is not an option for organizations, but a necessity.
Cybercriminals quickly incorporate every technological innovation into the design and execution of their cyberattacks. Combating this growing and limitless sophistication with outdated tools or solutions not based on the latest technologies is impossible.

Actions to prevent cyberattacks on companies

Protecting yourself to avoid cyberattacks or minimising their consequences involves changing the traditional approach to cybersecurity and adopting one that goes beyond barrier protection with strategies such as:

Proactive Cybersecurity

In today's increasingly sophisticated cyberattack scenario, staying one step ahead is the only way to prevent them.

A proactive approach to cybersecurity involves anticipating threats before they occur. Instead of reacting to security incidents after they happen, a proactive approach seeks to prevent them.
This includes identifying system vulnerabilities in cybersecurity, implementing preventative measures, and ongoing staff training. Therefore, it involves using advanced technologies such as artificial intelligence to detect anomalous patterns, conducting penetration tests to discover weaknesses, and creating an incident response plan.
A proactive approach also involves keeping up with the latest trends and threats in cybersecurity and constant commitment from the organization to protecting its digital assets.

Third-party risk management

Due to the current scenario of interconnection between companies, a corporate cybersecurity strategy that does not include its third parties in the monitored and controlled attack surface is a failed strategy. Third-party risk management ensures that relationships with third parties do not compromise the organization's security.
This third-party risk management involves assessing and mitigating the risks associated with interacting with suppliers, partners, and other third parties. It includes access to sensitive data, systems integration, and reliance on critical services.
Organizations should conduct security audits, review third-party cybersecurity policies, and establish service-level agreements. However, it is crucial that the organization has state-of-the-art cybersecurity solutions that allow it to control and manage third-party risk continuously and in real-time for the duration of the business relationship.
NIS 2, the European Cybersecurity Directive that comes into force in 2024, elevates third-party risk management to a mandatory requirement for companies in critical or important sectors for the EU.

Locating Leaked Credentials

The location and identification of leaked credentials and passwords is essential to prevent the theft of data and critical information, as well as the execution of attacks that use social engineering techniques.
Detecting these breaches allows organizations to take steps to protect themselves, change compromised passwords, and strengthen their security policies. In addition, it helps identify patterns in leaks, which is useful to prevent future incidents.

Address the challenges of cyberattacks on businesses in the digital age with Kartos

Our Kartos by Enthec Cyber Intelligence platform enables organizations to implement a proactive cybersecurity approach based on detecting open breaches and vulnerabilities exposed for override before they are used to carry out a cyberattack.
Kartos XTI Watchbots continuously and automatically monitors the external attack surface of organizations to locate exposed vulnerabilities of organizations and their third parties.
In addition, Kartos uses self-developed Artificial Intelligence to ensure the elimination of false positives in search results.
To learn more about how Kartos by Enthec helps your organization protect against a wave of cyberattacks on companies, discover our solutions or contact us here.

by Enthec