Cyber Threats to Organizations from Rival Organizations

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This article discusses the threats and vulnerabilities researched over the internet related to information security in business operations. Sources of information for vulnerabilities and threats have been included with a clear description on which threats are prevalent and how they affect the business, organizations and governments.

Security threat is a malicious act that targets an organization’s systems or the whole organization to steal or corrupt data and disrupt the operations. Cyber security attack may be aimed by one organization to breach the systems of another organization with motivations of information theft, espionage, sabotage or financial gain, all with malicious intentions. Company data or its network may get exposed resulting in network or data breach. The threats have been classified into internal and external threats by Loch et. al (1992). The first category includes employee activities, administrative procedures, software problems and mechanical and electrical failures. The external threats come from hackers, competitors, viruses and natural disasters. The report by Rippleshot states that EVM are not fully capable of managing credit card fraud. The frauds are not curbed even though the liability has been managed. (Colwill, 2009) discusses important issues of internal threats related to information security in terms of cultural, social and economic factors. Some more attacks on information include drive-by download attack, phishing attack, botnet, distributed denial of service attack, ransomware, exploit kits, password attack, social engineering attack, man in the middle attack and advanced persistent threat attacks. These attacks have evolved to advanced level of sophistication, diversity and frequency and can bring an organization to a halt unless a dedicated security team is aware of them and ready to respond. The enterprise IT team must remain vigilant when it concerns protection of its data and networks. This requires thorough understanding of all possible threats and vulnerabilities that can cause undesirable situation.

Modern threats from fake identities have become harder to detect and stop. Threats render disruption in business continuity, while vulnerability causes exploitation of system by gaining unauthorized access to computer system. Vulnerabilities thus lead to data loss, destruction of sensitive data, malware installation, etc. harming the organization.

Credit Card fraud are getting more sophisticated through the chipped technology. I would like to delve deeper into the vulnerability of system which cause identity theft as mentioned by Kargie. Studying credit card fraud in detail shall provide a clear picture about how the attackers steal credit card information to make unauthorized purchases and use up the accounts stealthily.

Will surely research more on the CC Fraud and keep you posted!

Loch, Karen & Carr, Houston & Warkentin, Merrill. (1992). Threats to Information Systems: Today's Reality, Yesterday's Understanding. MIS Quarterly. 16. 173-186. 10.2307/249574.

References

Price, S., 2020, The Real Costs of Ecommerce Data Breaches, Espionage, and Security Mismanagement, Ecommerce Security, https://www.bigcommerce.com/blog/data-breaches/#the-costs-of-a-data-breach

Cloud Mask, 2020, Data Breaches: Threats and Consequences

Kragie, A., 2020, State of Card Fraud 2017, https://info.rippleshot.com/hubfs/StateOfCardFraud2017.pdf

Colwill, C., 2009, Human factors in information security: The insider threat – Who can you trust these days? Information Security Technical Report, Volume 14, Issue 4, Pages 186-196

Cassetto, O., 2019. 21 Top Cyber Security Threats and How Threat Intelligence Can Help. Published by: Exabeam, on 25th June.  https://www.exabeam.com/information-security/cyber-security-threat/

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