What is a Cyber Attack? Types and Preventive Measures

Cyber attacks have progressed from mere technical annoyances to business-critical threats that require immediate attention. Recent examples include ransomware that has shut down healthcare systems and supply chain attacks that have exposed millions of records.

As we become more dependent on technology, cyberattacks will only become more frequent and sophisticated. Organizations, security teams, and individuals must understand cyberattacks, how they operate, and the possible consequences.

Defining Cyber Attacks: The Foundation of Digital Threats

A cyber attack is a deliberate attempt to compromise, damage, or gain unauthorized access to computer systems, networks, or digital assets. Threat actors conduct cyber attacks using software vulnerabilities, human errors, or system weaknesses to achieve objectives ranging from financial gain to espionage, disruption, or reputational risk.

Cyber attacks have evolved just like technology has. They began as socially engineered pranks conducted by enthusiasts in the 1980s and evolved into organized criminal groups, state-sponsored actors, and motivated individuals. Cyber threats today leverage AI systems and zero-day vulnerabilities, threaten personal mobile devices, or critical infrastructure, like the Colonial Pipeline.

The Anatomy of Modern Cyber Attacks

To understand how cyber attacks operate, we must consider their technical tools and the human elements that lead to their success. Modern cyber attacks use an array of techniques, often in tandem, and exploit multiple vulnerabilities to achieve their goals.

Understanding Malicious Software and Code

Embedded into many cyber attacks is malicious code, or malware, which invades, damages, or disables systems and devices that a legitimate user relies upon, with or without their knowledge or consent. Malware appears in many common forms, which have different characteristics and purposes.

For instance, viruses and worms are self-replicating programs spread across systems, primarily through email attachments or infected ancillary storage devices. They can corrupt files, degrade performance, and create backdoors for other compromises. 

Trojan horses, on the other hand, disguise themselves as legitimate software or files on a target system. They can facilitate the downloading and execution of programs that provide unauthorized access to systems or steal sensitive data.

Ransomware is perhaps the most financially damaging type of malware. It can lock a victim’s files and require payment to unlock them. The WannaCry ransomware event in 2017 infected more than 300,000 computers in 150 countries, causing losses in the billions of dollars, highlighting a global vulnerability to such attacks.

The Human Aspect of Cyber Attacks

While technology provides the means for cyber attacks, human error is an enduring liability that is most often exploited. Social engineering attacks utilize human beings as a vector to commit fraud and trick individuals into sharing sensitive information or taking some action that compromises security. These attacks likely rely more on human psychology than technical vulnerabilities and are thus universally employed by cybercriminals.

Phishing is the most common social engineering attack. In this type of attack, the offender sends an email that looks like it comes from a credible source. The email might ask you to provide your credentials or include a malicious hyperlink to click on, tricking the unwitting user into providing their credentials or downloading malware.

Different Types of Cyber Attacks

Cyber attacks can take many forms, each targeting specific vulnerabilities or helping to achieve specific goals. Understanding the range of attack types can help organizations establish useful defenses and eventual responses.

Malware Attacks

Malware attacks fall into a wide range of threats involving various forms of malicious software. They can originate from email delivery through malicious email attachments, other forms of drive-by download from infected websites, and USB and removable media that can carry malware between air-gapped systems.

Today’s malware threats often have the capability to bypass antivirus software and maintain persistence on infected systems, making detection and removal of malware even more impractical. Organizations can solidify their defenses against these more advanced threats with a complete threat detection capability, which provides visibility of malware infections in real time.

Phishing and Social Engineering Attacks

Phishing attacks have changed significantly from simple email phishing to tailored campaigns that target specific people or organizations.The FBI’s Internet Crime Complaint Center stated that phishing was the most common type of cybercrime in 2023, with over 298,000 complaints.
Spear phishing involves highly targeted phishing attacks, focusing on specific individuals. It can use private information from social media or a social engineering scam to sound more credible to the recipient. 

Business email compromise is a more sophisticated scam type that normally targets businesses that have regular wire transfers. BEC attacks on businesses have resulted in millions of dollars of scam losses. 

Phishing attacks are not always those targeted by email. Voice phishing (vishing) and SMS phishing (smishing) attacks target mobile devices and phone systems with increasing frequency. All organizations can be protected if comprehensive sophisticated frameworks are developed with compliance standards that address phishing and their related risks, and develop security protocols that can be followed.

Injection Attacks

Injection attacks take advantage of vulnerabilities within web applications and databases to insert harmful code into input fields. SQL injection is an example of an injection attack; attackers insert harmful SQL code into SQL queries that maliciously access data in the database. 

Once exposed, attackers can access sensitive data or even administrative privileges in the application’s database. Injection attacks routinely appear on the Open Source Foundation for Application Security (OWASP) Top 10 as one of the most serious security risks associated with web applications.

Cross-site scripting attacks are a little different from injection attacks in that harmful scripts are inserted into web pages viewed by other users. Cross-site scripting attacks hijack session cookies and/or redirect users to malicious sites. Ultimately, these attacks also demonstrate why input validation matters, and why developers need to keep secure coding practices in mind when developing web applications.

Denial of Service (DoS) and Distributed Denial of Service Attacks (DDoS)

The goal of DoS and DDoS attacks is to prevent legitimate users from accessing a system or service by inundating it with requests for traffic or resources. Distributed Denial of Service attacks usually employ networks of compromised computers, or botnets, to magnify the impact of the attack, generating volumes of traffic that can exceed even protected systems’ capacity.

As a reminder of how prevalent these attacks are, consider the 2016 Dyn attack using the Mirai botnet, which targeted DNS infrastructure and took down major websites, including Twitter, Netflix, and Reddit.

Advanced Persistent Threats (APTs)

APTs are likely some of the most advanced cyber attacks today, generally from state-sponsored groups or organized crime groups that have substantial financial resources. The defining features of these types of attacks are: 

• Long-term presence, where an attacker has access to systems for a long time, 
• Stealth, where attackers operate in such a way to avoid detection by security measures
• Multiple attack vectors that combine various techniques to achieve goals.

The complexity and endurance of Advanced Persistent Threat attacks make it especially difficult for security teams to detect and respond in a timely manner. As part of the attack strategy, it’s common for attackers to deploy custom malware, zero-day exploits, and simple social engineering techniques that will likely circumvent traditional security controls.

Zero-Day Exploits

Zero-day vulnerabilities are security weaknesses in software or systems that were previously unknown (and unpatched) within the software or system. Zero-day exploits take advantage of zero-day vulnerabilities before they have been patched, therefore making them very dangerous and valuable to attackers.

One example is the Log4j Vulnerability (Log4Shell) discovered in December 2021. This was one of the largest and most serious recent zero-day vulnerabilities. Log4j is an open-source logging library that is one of the most widely used across millions of applications and services around the world. When the Log4j vulnerability (CVE-2021-44228) – named “Log4Shell” – was revealed it enabled unauthenticated remote code execution so that the attacker could fully control vulnerable systems with little effort.

Advanced threat intelligence offered by providers can help organizations prepare for and react to potential zero-day-based threats by providing early warning of new vulnerabilities and attack vectors.

Emerging Threats and Modern Techniques

The cyber threat landscape continues to shift quickly, with more and more attack methods emerging as technology develops and attackers adjust their methods to bypass defense mechanisms.

The Rise of Artificial Intelligence in Cyber Attacks

Artificial Intelligence is changing the face of both cyber defense and attack. AI-driven attacks can take reconnaissance to a new level and automate the vulnerability discovery and intelligence gathering at scale. They can create phishing content that is personalized and more difficult to detect. They can evade detection systems by adapting the attack patterns, and they can make brute-force attacks much quicker by using machine learning to enhance traditional password cracking.

Another emerging threat is Deepfake, a tool that can create realistic audio and video content using AI, for social engineering purposes and attack vectors that can disguise legitimate communications with malicious communications. This further clouds the victim’s ability to determine legitimate communications.

Insider Threats and Internal Vulnerabilities

Insider risks present a unique challenge because they come from people who have official access to systems and data. Insider threats include malicious impersonations, such as employees or contractors who intentionally cause harm to their organizations, negligent impersonations, such as employees or contractors, who accidentally harm their organization through careless behaviors, and compromised impersonations nonexistent users impersonating legitimate users, who have lost control of their accounts to outside attackers.

Recent research indicates that insider threats account for about 60% of all cyber attacks, which gives organizations reason to be concerned regardless of their size.

The Impact of Cyber Attacks

Cyber attacks create consequences that extend beyond disruptive technical incidents. These incidents can have financial, operational and reputational impacts that can last for years as organizations work through the fallout.

Financial Consequences

The IBM 2024 Cost of a Data Breach Report shared that the average global cost of a data breach now costs companies $4.88 million, up 10% from the year prior. However, healthcare organizations are still experiencing the highest costs on average, with their incidents costing $11.05 million. The financial services organization’s average total cost per breach also increased to $5.9 million. These figures illustrate the significant risk that cyber attacks can have on organizations of all sizes and types.

Reputational Damage and Trust Erosion

The damages from cyber attacks go beyond immediate financial losses related to the event. Many companies may experience long-lasting damage to reputation that leads to an erosion of trust from customers, partner relationships, and market position. 

The Equifax data breach in 2017, which exposed the personal information of 147 million Americans, still has lingering effects on the company’s reputation today and has resulted in continuing regulatory oversight and litigation.

Studies suggest that companies can lose as much as 25% of their customer base after a major breach, and in some high-profile breaches, the recovery takes years.

Identity Theft and Personal Privacy Violations

Cyber attacks can lead to identity theft, which occurs when personal information is stolen and used for fraudulent purposes. This can include Social Security number theft that facilitates a variety of fraud, medical identity theft that allows others to use healthcare benefits, and financial account takeovers, which allow unauthorized access to a bank or credit account.

According to a report from the Federal Trade Commission, there were over 5 million identity theft complaints in 2023, showing just how direct and insidious identity theft can be!

Protecting Against Cyber Attacks

Good cybersecurity requires a multi-layered approach, using a combination of technical solutions, administrative controls, and human awareness to build layers of defense and thwart threats.

Implementing Comprehensive Security Measures

Technical controls include antivirus software that offers real-time protection against known malware, intrusion detection systems that monitor for suspicious activity on networks and systems, firewalls that filter traffic between internal networks and external connections, and encryption to protect data transported across devices and data at rest.

Administrative controls include security policies defining clear parameters for system use and data handling practices, access control procedures implementing least privilege access to systems and information, regular updates of operating and application software to keep it current and secure against known vulnerabilities, and employee training that makes employees aware of cyber risks and safe computing practices.

Incident Response Planning

Even with many preventative measures in place, organizations must be prepared for cyber incidents to occur. Incident response plans outline the processes organizations must follow in response to various types of cyber attacks. These plans should encompass several areas:

• Process Validation: Continue to validate those processes through tabletop exercises and simulations;
• Communication Protocols: Provide clear lines of communication among staff with for incident reporting and updates;
• Recovery Processes: Detail the steps necessary to restore systems and operations after an attack.

Organizations that are able to respond swiftly to an incident and document it can often reduce costs and downtime from incidents to weeks and days, instead of weeks and months. In certain cases, organizations can introduce digital forensics and incident response services for key incidents, which allow for expert guidance throughout a major breach, incident, or criminal investigation.

Third-Party Risk Management and Vendor Security

Third-party vendor and service provider risk is an important focus in contemporary cybersecurity. Businesses are working with more external partners, suppliers, and service providers than ever before, creating an attack surface outside of the organization’s direct control. Cyber attackers often look for third parties to target as a way into their ultimate targets by taking advantage of the relationships and shared networks between organizations.

Recent high-profile attacks highlight the enormous impact a third-party breach can have, and make effective third party-risk management an essential part of an organization’s overall cybersecurity approach. Organizations should seek methods to manage the challenges of vendor risk, including specialized third-party risk management solutions with ongoing monitoring and assessment of vendor security posture.

SecurityScorecard’s Third-Party Risk Management platform makes it easy for organizations to continuously monitor vendors’ security postures, obtain automatic notification of potential risks, and take action before threats affect business operations. The platform delivers:

• Real-time security ratings across all vendors and partner organizations;
• Automated vendor discovery and risk assessments;
• Compliance monitoring and reporting;
• Integrating into incumbent risk management processes;
• Actionable remediation recommendations for identified vulnerabilities.

Companies can mitigate their exposure to supply chain attacks through comprehensive and ongoing vendor risk management programs, supported by monitoring, assessments of vendor security postures, and clarity of communication with partners

Real-World Case Studies and Major Cyber Incidents

By examining real-world cyber attacks, we learn what a cyber threat looks like in practice and what organizations can glean from these events.

The Change Healthcare Attack (2024)

In February 2024, Change Healthcare, a leading healthcare payer processor that processes billions of healthcare transactions every year, suffered a ransomware attack labelled by cyber security experts as catastrophic. This cyber attack affected healthcare across the U.S.A. 

The group, ALPHV/BlackCat, perpetrated the ransomware attack, and Change Healthcare was forced to disconnect systems to prevent further spread. The company provided millions of services to pharmacies, hospitals, and healthcare providers therefore, the magnitude of disrupting healthcare for the country was immense.

The impact of the healthcare ransomware incident is believed to have cost over $1 billion, representing one of the most expensive cyber attacks in healthcare history. It also highlighted the critical nature of healthcare infrastructure and the impact of cyber attacks, which, due to inherent connectedness, have systematic cascading effects on basic services.

The MOVEit Transfer Attacks (2023)

The MOVEit Transfer attacks in 2023 marked one of the largest supply chain cyber incidents in recent history. The Clop ransomware group exploited zero-day vulnerabilities in MOVEit file transfer software, which is widely used by hundreds of organizations worldwide to securely transfer their data.

Over 2,000 organizations were impacted, including major organizations like the BBC, British Airways, the University of California system, the US Labor Department, US Marshals, several US states’ Departments of Education, and local government agencies. The attack also potentially exposed personal data relating to more than 62 million consumers and individuals, making it one of the largest data breaches in terms of those affected.

Through thorough supply chain risk intelligence, organizations can map their vendor ecosystem, identifying and monitoring potential vulnerabilities and limiting the chance of similar attacks targeting their supply chain.

The LastPass Security Incidents (2022-2023)

LastPass is a popular password management service that suffered multiple security incidents from August 2022 to early 2023, all resulting in attackers obtaining access to password vaults containing millions of username and password entries and personal information about users. 

While the vaults used strong encryption, security experts voiced concerns that attackers could slowly crack weaker master passwords.

The incidents related to LastPass emphasized the difficulties inherent in securing password management systems, as well as the threats posed when security tools become targets.

Future Trends in Cyber Attacks

Cyber threats are evolving as attackers utilize new technology and adapt to updated technologies to continue challenging organizations.

Targeting Mobile Devices and IoT

As mobile devices and Internet of Things devices become more prevalent, they provide cybercriminals with new attack surfaces for their malicious activity. These devices often do not have robust security controls and, therefore, typically provide footholds into much larger networks. 

The challenges in securing these devices are often made worse by the penetration of IoT device service timeframes and infrequent updates to provide security. This leads to continuous and persistent vulnerabilities in the networked environments.

Cloud Infrastructure Attacks

The move to the cloud has created new opportunities for attackers who are now able to target misconfigured cloud storage. Exposed databases and file systems are now a common problem. They are taking over cloud accounts using stolen administrative credentials and using the cloud as new deployment models to exploit container and serverless vulnerabilities. Enterprise risk management solutions take into account all the complexities of cloud security solutions.

Building a Security-Conscious Culture

Establishing a strong cybersecurity position doesn’t only mean adopting technical solutions. Organizations must create a culture of security awareness that is pervasive throughout the organization. It must be part of daily operations as opposed to being an afterthought.

Beyond Technology and the Human Factor

While technology is integral to cybersecurity, human behavior is a primary factor in cybersecurity. Research has established that human error accounts for nearly 95% of successful cyber attacks. These findings underscore the need for user education and awareness programs. 

Organizations can improve their security culture with learning resources for ongoing education about cybersecurity threats and best practices.

The Importance of Leadership

Effective cybersecurity does require organizational commitment from leadership. A leader’s commitment to cybersecurity includes using the allocated budget to provide resources, support policy adherence for the implementation of security policies, and ensure cultural change so that everyone considers security responsibilities during their work.

A leader can also demonstrate their commitment to cybersecurity by following up and regularly reporting on cybersecurity risks and achievements to stakeholders.

Prevent Cyber Attacks with SecurityScorecard

As threat actors continue to evolve and target new weaknesses, the need for comprehensive cybersecurity strategies becomes even more imperative.

By fully understanding cyber attacks, identifying their various forms, and establishing and implementing proper security measures, organizations can gain some degree of protection against these threats. However, cybersecurity efforts and measures are not a goal, but rather an ongoing process of monitoring, updating, and improving.

Organizations will have to balance this form of technical security with all of the human aspects involved in monitoring and restraining the threat. This is important in ensuring that all employees understand what they must be aware of and what they must do when faced with these threats. It is also essential for companies to be prepared to respond to a cyber incident and include proper incident response plans in their residual security measures, including planning, testing, and updating those plans/procedures.

The cost of providing cybersecurity is never minimal where organizations are looking at multi-thousands of dollars. However, compared to the consequences of a successful cyber attack, the costs of implementing a cybersecurity approach are reasonable, especially if you consider the need to protect assets, loss of customer trust, and business continuity activities in an online world. 

For organizations that want to advance their cybersecurity efforts, SecurityScorecard provides a full array of solutions to help manage the complexity of the latest cyber risk challenges. Continuous security monitoring, vendor risk management, incident response planning, and compliance reporting are just a few of the options SecurityScorecard offers for building stronger defenses against cyber attacks.