Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

During a ransomware attack, a victims vital internal processes are seized and encrypted, completely forcing their business offline. These crippling actions are only reversed if a ransom payment is made. Ransomware attacks are an escalating threat to global security and the Australian Government is taking a firm stance against it. With global ransomware damage costs predicted to reach $20 billion and increasing cyberattack complexity, this isn't a fight a single country can win alone.

The trend of global data breach events is steep and still continuing to tilt upwards. According to the latest data breach investigation report by IBM and the Ponemon Institute, data breach costs in 2021 have reached a record high. Last year, the average cost was US$3.83 million, and this year it has peaked at US$4.24 million. Mitigating these events involves comprehensive management of the entire attack surface, including the third, and even fourth-party vendor network.

An intrusion detection system (IDS) is a software application or hardware device that detects vulnerability exploits, malicious activity, or policy violations. IDSs place sensors on network devices like firewalls, servers, and routers, or at a host level. Once the IDS detects any cyber threats, the system will either report this information to an administrator or a security information and event management (SIEM) system collects it centrally.

Open source intelligence (OSINT) is the process of identifying, harvesting, processing, analyzing, and reporting data obtained from publicly available sources for intelligence purposes. Open source intelligence analysts use specialized methods to explore the diverse landscape of open source intelligence and pinpoint any data that meets their objectives. OSINT analysts regularly discover information that is not broadly known to be accessible to the public.

A cache is a temporary data storage location that stores copies of frequently accessed data or files to provide faster access to software or hardware. Computers, mobile devices, web browsers, and other applications use cache to speed up data retrieval. Caches allow faster access to this data by removing the need to reload it each time the device/app needs it. Cached data is reusable and can be retrieved directly.

A proxy server is an intermediary server that retrieves data from an Internet source, such as a webpage, on behalf of a user. Proxy servers have many different uses, depending on their configuration and type. Common uses include facilitating anonymous Internet browsing, bypassing geo-blocking, and regulating web requests. Like any device connected over the Internet, proxies have associated cybersecurity risks that users should consider before use.

In cybersecurity, an attack vector is a method of gaining unauthorized access to a private network. These pathways are either unintentional, such as vulnerabilities in third-party software, or intentionally designed by hackers, such as malicious software (malware). Cybercriminals primarily exploit attack vectors to advance extorsion tactics, the most popular being the deployment of ransomware.

During a web shell attack, a cybercriminal injects a malicious file into a target web server's directory and then executes that file from their web browser. After launching a successful web shell attack, cybercriminals could gain access to sensitive resources, recruit the target system into a botnet, or create pathways for malware or ransomware injections. If you haven't implemented defense strategies against this cyber threat, your systems are at a high risk of exploitation.

Vendor tiering is the key to a more resilient and sustainable third-party risk management strategy. But like all cybersecurity controls, it must be supported by the proper framework. To learn how to optimize your Vendor Risk Management program to greater efficiency through best vendor tiering practices, read on.