What’s New in Security to Counter Evolving Cybercrime

– Rajat Mohanty, CEO, Paladion Networks

The world, it was once said, is shrinking. This statement is profoundly out of place in the present day and age. Aided by the spectacular rise of the digital medium, today’s world has already shrunk enough to fit into our palms. Owing to the evolution of technologies such as cloud-based infrastructure, better bandwidth connectivity and improved wireless networking, there is no task – be it professional, personal or social – left untouched by this changing tide.

Rajat Mohanty

CEO, Paladion Networks

“Advanced analytics technologies also play a vital role in countering the threat of organised cybercrime. Early warning systems from security solutions providers are now in place, monitoring the flow of data across the globe and scanning it for any potential infection. ”

Rise of the cybercriminal

We now interact with our social circles on various social media platforms, access our work related emails on smartphones and keep in touch with family and friends through video conference calls. We share our locations, check into events, save important documents, shop online, book cabs, get food and groceries delivered to our doorsteps and in general leverage technology to make our lives  more convenient. Life itself seems to have transited onto a digital platform. But with this growing reliance on digital technology, a more insidious menace has also emerged – that of cybercrime. Once restricted to phishing, infecting devices with malwares and stealing financial information such as credit/debit card details, today’s cybercriminals have evolved their modus operandi to a host of other nefarious activities. Cyber terrorism, identity theft, digital espionage – all these developments become much more alarming considering the integral role that technology now plays in our lives.

Cybercriminals no longer target individuals with spam emails, instead packaging their malware into a harmless looking ‘utility software’ or plug-in which promise to boost the performance of user’s device or help them overcome a particular hardware requirement, such as a virtual video card required for most high-end games. Some cybercriminals also package their malware into the installation codes for ‘free antivirus/malware protection’. These software and plug-ins are then downloaded and installed by unsuspecting victims, who leave themselves vulnerable to cyber-attacks and risk compromising professional and personal information.

Moreover, hackers have also started utilising social engineering attacks to lure individuals into disclosing confidential information or download viruses. This can be targeted through email from a social contact or organisation that the victim is familiar with, making it likely for them to download malicious code onto their devices. With people living a large part of their lives in a virtual space, this evolution of cybercrime techniques is an actual, tangible threat to individuals and societal safety.

Evolution of Security Solutions

Thankfully, security providers have been working overtime to counter the growing sophistication of cyber-attacks and the individuals who perpetrate them. This has led to the development of micro- security solutions that can identify and counter the evolving cybercrime methodologies. Discrete products and technologies are currently being created and implemented to solve critical problems such as advanced malware prevention, data exfiltration and social engineering detection. Enterprises and security experts are now approaching networking and desktop protection as a whole instead of distinct subsets, integrating the two for a more holistic security ecosystem.

Additionally, eliminating or restricting the number of operational USB ports and introducing air gaps in the network is  fast becoming a common practice, as it minimises the security risk. Data exfiltration can be countered by monitoring the outbound traffic, which enables enterprises to keep a check on whether a machine is trying to access or communicate with an unknown destination and helps to interject and remedy the affected system.

Advanced analytics technologies also play a vital role in countering the threat of organised cybercrime. Early warning systems from security solutions providers are now in place, monitoring the flow of data across the globe and scanning it for any potential infection. This allows them to identify any anomalous behavior in data and zero in on the source of origin, which grants security providers with the capability to allow or deny traffic from specific regions in case of an arising threat.

At the end of the day, as more advanced cybercrime countering methodologies are developed, the incident rate of major security breaches will be minimised. However, the end-user or human aspect will also need to be brought up to speed with these latest advancements in order to ensure optimal security solutions. Only by integrating the technological and human aspect will enterprises be able to create a holistic security ecosphere.