In today’s advanced, digital world, cyber security has become a top-of-mind concern for business leaders across virtually every industry. It’s understandable why; due to the proliferation of the Internet of Things (IoT)—industry pundits predict that the IoT will consist of over 34 billion connected devices by 2020—the number of cyber security threats are greater than ever, and they’re only growing more innovative in nature.
It’s difficult to prioritize just a few cyber threats today that can leave businesses vulnerable; however, here are five that we believe every organization should prepare for:
- Jailbreaking the Cloud: Jailbreaking consists of attackers stripping a mobile device—iPhone, iPad, iPod—of its original manufacturer or carrier restrictions by implementing a software exploit. Anyone that jailbreaks an Apple product, for example, is granted access to that device’s core iOS file system and, subsequently, a plethora of extensions and applications that are unavailable to the public. Although jailbreaking is technically legal, it can leave a device extremely vulnerable to an attack; therefore, businesses can suffer the consequences if employees bring a jailbroken device into the workplace and connect it to the corporate network.
- Data Manipulation: Touted as “the next big threat in hacking,” data manipulation—or data sabotage—consists of altering or manipulating online data in order to compromise its integrity. As International VP at global cybersecurity association ISACA Eddie Schwartz explained in a recent CNBC interview, data manipulation can produce “catastrophic results” if implemented to any system that is computer-controlled to any extent, such as the power grid or a water system.
- Chip and Pin Innovations: Despite the new EMV chip system aimed at strengthening cyber security vulnerabilities, chip and PIN breaches are becoming increasingly common (after all, the UK has been using chips for over 10 years, so attackers have had plenty of experience with the system by now). Attackers, for example, can manually alter chip cards; back in 2012, for instance, five criminals stole over $680,000 through transactions made using chip cards that had two chips on them. The second chip, manually added by the attackers, enabled them to perform a “Man-in-the-Middle” attack, in which communication between parties (i.e. the credit card company and the bank) was unknowingly altered.
- IoT Zombie Botnet: The rise of IoT zombie botnet hacking is real. Essentially, an IoT botnet is a group of compromised computers or Internet-connected devices that have been designated to work towards committing fraud. Anything that is Internet-connected—from cars to Barbie dolls—can be taken over for illicit purposes.
The IoT is transforming the world as we know it, yet it is simultaneously opening the door to new cyber threats that could hold more power and purpose than ever before. According to Cisco’s “2015 Annual Security Report,” only one-third of organizations are equipped with the “latest and greatest” security tools. Furthermore, only 36 percent believe they do a good job of regularly reviewing and improving their security practices.
It goes without saying that organizations need the right technology, strategies and resources to successfully protect themselves against today’s increasingly-sophisticated cyber threats.
Cyber security and VoIP fraud present real threats that could take down any business at any time. At VoIP Innovations, we know the value of be prepared early for an attack so we've created a VoIP Fraud Detection System. If you want to test it out and aren't already a customer, sign up for a Free Trial today!