Tag Archives: cyber attack

Achieving Compliance as a Team

Achieving Compliance

Before your company can fully comply with all the requirements set by third parties like regulatory bodies and clients, there are dozens upon dozens of tasks that need to be completed. These tasks are spread across different areas of the company and are impossible for just one individual to accomplish. The process of achieving compliance would require a fast and thorough team of compliance specialists.

Vital Matters to Discuss when achieving compliance

In most cases achieving compliance failures can be attributed to a lack of planning and communication. To avoid these problems, bring your compliance team together right from the start and discuss all the crucial matters.

Email Encryption

Daily, hundreds of emails can go back and forth in your company. You need a reliable encryption system to protect all emails and keep all data away from these hackers.

Data Encryption

Customer data, credit card information, and other data must all pass through a secure collection system to avoid theft or exposure to unauthorized parties. This method is crucial when achieving compliance.

Firewalls

Skilled hackers can easily override some firewalls. If you are still using an older firewall try upgrading to a multi-level system for a much better defense against unwanted intruders.

Backups

Data backups are your lifeline of a system failure or cyberattack and are crucial when achieving compliance. It is crucial to create backups regularly and store them in a safe location in a system that complies with client and government requirements.

Data Availability and Storage when achieving compliance

Sensitive information within your business must only be accessible to authorized individuals. There should be a surefire method of restricting access to sensitive information to minimize data breaches.

Physical Access

Maximizing digital security is critical, but you must not take physical safety measures for granted. Every employee should shut down their computers properly after use. Screen filters might be necessary when achieving compliance for some workstations with sensitive data.

Responsibilities of the Internal Compliance Officer to achieving compliance

In addition to choosing a highly skilled IT compliance team, you also need an internal compliance officer on your payroll when achieving compliance. Their primary duty would be to monitor the staff and ensure that each one abides by compliance procedures—locking their systems when they leave their workstations, practicing caution when using credit card information and private company data, and so on.

Regular cybersecurity training is also part of the responsibilities of the internal compliance officer. Quarterly training is ideal for keeping employees aware of the pervasive dangers online. When new employees join the team, they should receive training on compliance policies as well.

Finally, it is also the internal compliance officer who maintains compliance-related documentation such as communication standards and backup plans.

Delegating Compliance to an MSP

Even businesses that are not in the IT industry will need to comply with several IT regulations when achieving compliance. If you do not have an in-house tech team and if your staff does not have the expertise or experience to handle the task, there’s no need to worry. MSPs, or managed services providers, can take these technical matters off your hands.

If you partner with us, we will assign your company a team of compliance experts who will ensure that you meet all relevant requirements. Whether you need to fulfill requirements for HIPAA, PCI DSS, GDPR, NIST, or any other regulatory authority, we will take care of it to completion. Give us a call, our team will also coordinate closely with your organization to ensure we meet all requirements. You can also check out our Free Cybersecurity Infographic if you’re looking for great advice to keep your business safe in the meantime.

Top 10 Data Breaches in 2022

Breaches

Cybersecurity tools and strategies have improved by a huge margin over the years. However, data breaches remain to be one of the biggest online threats. This means you can never let your guard down especially when you are operating online. In fact, even huge global companies with seemingly ironclad security systems can still be vulnerable to these attacks.

Many large companies have suffered massive data breaches this year, leaking confidential data, losing millions of dollars, and other damages. Here are the ten worst cases that have happened so far in 2022.

Crypto.com Theft

In January, hackers were able to find a way around Crypto.com’s 2-factor authentication, getting access to about $18 million in Bitcoin and $15 million in Ethereum.

Red Cross Data Breaches

It was also in January when online attackers breached the Red Cross database, specifically that of their Restoring Family Links Program. Information of individuals and families separated by war and other causes, as well as missing persons, were stolen. The Red Cross was able to stop the attacks by immediately taking their servers offline.

Ronin Crypto Theft

The Axie Infinity game became wildly popular early in 2022 and to accommodate more players, they loosened security protocols. This risky move allowed hackers to move in, who eventually managed to steal $625 million worth of cryptocurrency.

Microsoft Data Breaches

In March, the hacking group known as Lapsus$ managed to infiltrate the very tight defenses of Microsoft, putting several of the IT giant’s products at risk. Within two days, though, Microsoft was able to thwart the attack and reported that no client information had been taken.

Cash App Data Breach

A former employee who had beef with the payment company Cash App took to infiltrating their system in April. The hacker stole reports with names, portfolio values, and brokerage account numbers from over 8 million clients.

Student Loan Data Breaches

Nelnet Servicing, a student loan service provider, suffered a data breach in June that led to the exposure of confidential information of more than 2.5 million accounts, including names, contact details, and social security numbers. It was about a month before the breach was discovered.

Twitter Data Breach

In July 2022, a hacker sold data from over 5.4 million Twitter accounts on a hacking forum. The hacker was asking for $30,000 in exchange for the stolen data.

Medibank Data Breach

In October, a malicious party stole data for 9.7 million past and current customers of the Australian insurance and healthcare company Medibank. The company refused to meet the hacker’s demands, who eventually released the files online in separate batches.

Credit Card Information Leak

Also in October, details of over 1.2 million credit card accounts were posted for free on the BidenCash carding marketplace, where anyone on the dark web can use them to make online purchases. These are all active cards that have an expiry date between 2023 and 2026.

Shein Data Breaches

A third party stole 39 million Shein customers’ payment information and sold it on a hackers’ forum. Shein was fined $1.9 million for failing to disclose the 2018 data breach, which was discovered in October.

What to Do If You Think You Have Been Hacked

As you can see, these are all multimillion-dollar companies, and they can even be vulnerable to online attacks that result in data breaches. This only shows that anyone can be a victim. So if you think you are totally safe with the defenses that you have now, you might want to think again. There is no leeway when it comes to online attacks. You need to constantly reevaluate your cybersecurity strategies and keep them updated so they stay relevant to the changing times.

But in the event that you think you may have been hacked, you can follow our step-by-step guide on what to do in order to recover your data and restore your network security. If you need further assistance in reinforcing your security strategies, just call us and we will be on it right away.

January Recap: All You Need to Know About Social Engineering

Social Engineering

This month, we covered a range of topics concerning social engineering. Social engineering is now considered one of the most prevalent risks when it comes to online security. Most hackers rely heavily on social engineering tactics to lure unsuspecting users to divulge information.

It sounds complicated but it’s nothing more than the practice of manipulating people into revealing information through the use of false pretenses. It often creates a sense of urgency, fear or excitement, playing with people’s emotions to get them to do exactly what the hackers want them to do. In case you missed any of them, here is a brief summary.

social engineeringWeek 1: What Is Social Engineering and How Can It Affect Your Business?

We discussed the basics of social engineering and how the different types of attacks are used to exploit unsuspecting victims. We also looked at what makes up a successful social engineering attack and how attackers might use modern technology to increase their reach. Specifically, attackers may utilize deception techniques such as phishing emails or malicious links in order to gain access to personal information or data. Additionally, attackers may use impersonation tactics in order to manipulate their target into giving away information or credentials.

Social engineering is the infiltration of something secure, intending to acquire information or secure access through cunning means. With the use of modern technology, social engineering is now possible with the victims not even knowing. If you are caught unprepared, as a result, this could potentially lead to the downfall of your business. With awareness and the presence of mind, you can easily avoid becoming a victim. One of the commonly used methods is tailgating or entering the premises on the pretense that they are an authorized entity.

Simple practices like refraining from opening suspicious-looking emails and attachments would be very helpful. It is also advisable to implement multifactor authentication in all your systems and to keep your antivirus software updated. Click here to read more of our week-1 blog defining what exactly social engineering is.

Social Engineering scamsWeek 2: Where Does Social Engineering Scams Come from?

In order to prevent these attacks from being successful, it is important for users to remain aware and educated about cybersecurity best practices and protocols. This includes implementing strong passwords that include both upper- and lowercase letters, numbers, and special characters; avoiding suspicious links through email or messaging services; and utilizing two-factor authentication measures when possible–for example, when accessing accounts online or over public Wi-Fi networks. Users should also use secure VPNs whenever possible to protect their remote data..

There are more than 4.74 billion social media users today. Hackers are using social media to entice unsuspecting users into their traps. They create fake accounts that are used in either of the following four ways:. MIPs are bare profiles, usually with seductive profile photos that are meant to get people interested enough to add them as a contact. A hacker will then use this fake MIP to send malware through messenger or post malicious links on your wall. Fully Invested Profiles are intended purpose of fully invested profiles is the same as those created for MIPs. Click here to read more of our week-2 blog about the origin of social engineering.

Cybercriminals Use Social Engineering

Week 3: The Top 5 Ways Cybercriminals Use Social Engineering

Finally, we presented best practices for staying safe online when encountering suspicious links or other potentially dangerous content. For example, links in messages can lead to malicious sites with malware that could compromise users’ personal information and devices. It is also important for users not to respond immediately if they receive an unexpected message from someone they do not know or recognize – even if it appears legitimate – as this could be an attempt by adversaries to gain access to sensitive data via impersonation techniques.

Cybercriminals use social engineering to play on victims’ emotions and gain their trust. There are a number of different ways that cybercriminals manipulate their victims online. Phishing is by far the most common and most effective tactic that hackers use in social engineering. This is where the hacker pretends to be someone that the victim knows, then asks for their login details. There are so many ways that cybercriminals use social engineering for malicious intent these days. Piggybacking, also known as tailgating, is when someone discreetly follows an authorized person into a restricted area of the building. As a business owner, it is crucial to ensure that you educate all your employees fully when it comes to social engineering attacks and other cybercrimes. Click here to read more of our week-3 blog and the top 5 social engineering threats.

By following these tips and remaining vigilant about potential attacks, everyone can make sure to stay safe online! Give us a call if you think you need help strengthening your business against attacks.

The Top 5 Ways Cybercriminals Use Social Engineering

Cybercriminals Use Social Engineering

Advanced technology and cutting-edge hacking techniques have been the main tool that cybercriminals use for online attacks. But did you know that the most effective method that hackers use for enticing victims online is something so much simpler? Cybercriminals use social engineering or in other words, manipulate people by establishing trust and playing on their emotions.

Common Methods of Social Engineering Attacks

There are a number of creative ways that social engineers go about their devious ways. However, there are five ways that stand out on how cybercriminals use social engineering for their personal gain.

Phishing

This method is by far the most common and most effective tactic that cybercriminals use in social engineering. It has been around for years yet people continue to fall for it at an alarmingly high rate. Phishing is common using emails. In fact, anyone who has an email account would likely have received several phishing attempts in their inbox.

Among the earliest phishing emails are those that come from a Nigerian prince who needs your help in getting his inheritance and in return, he will give you a sizable portion of his wealth. Later on, phishing emails became more believable, like an email from what seems to be your bank, asking to verify your account number. Recently, phishing through social media has become rampant, where you would be asked to log in to your account on what seems to be a real social media site but is actually just a clever imitation.

Baiting

Baiting is what cybercriminals use social engineering and is an approach where something is in front of the target victim, hoping to get them to click on a link and fall for the trap. It could be a free movie or song or something that would be of interest to the victim. The link does not give them what was promised and is instead some kind of malware that will cause damage.

Cybercriminals use Social Engineering Pretexting

This kind of social engineering scam is where the hacker pretends to be someone that the victim knows. They might pretend to be the head of IT doing some routine check, then ask for an employee’s login info. Or they might pretend to be a law enforcer or investigator, at which many people would be very cooperative. Because the employee thinks the hacker is a trusted entity, they might willingly give their details.

Quid Pro Quo

This is a type of social engineering attack where the hacker offers you something in exchange for critical information. Let’s say a disgruntled employee has been laid off or had left a company in not so amicable terms. Hackers hunt these disgruntled individuals and offer to buy the information that they can use to attack the company.

Cybercriminals use Social Engineering Piggybacking

Although social engineering these days is through online, there are still plenty of approaches that take place in the physical environment. Piggybacking is one such example. Also known as tailgating, piggybacking is when someone discreetly follows an authorized person into a restricted area of the building. Once they are in, they can easily access computers to steal data.

How to Be Safe from Cybercriminals using Social Engineering Attacks

There are so many ways of how cybercriminals use social engineering for malicious intent these days. However, there are also several things that you can do to keep safe from these attacks.

Many of the preventive measures are actually very simple, starting with never revealing passwords and other sensitive data to anyone. This includes heads of IT departments, people in charge of corporate audits, or even law enforcers.

As a business owner, it is also crucial to ensure that you educate all your employees fully when it comes to social engineering attacks and other cybercrimes. You can check what they already know about the dark web by having them take this 10-question cybersecurity quiz.

We have plenty of tools and resources that can help boost your protection against all kinds of cyberattacks. Call us today and we will be happy to put together a strategy that will keep your business and data as safe as can be!