Why Should We Care More About Cyber Security?

How much of your daily life relies on computers? How much of your personal information is stored either on your own computer or on someone else's system? Think about it.

The Internet today has become an integral part of our modern lifestyle - from communication by sending short messages and emails to e-banking, traveling, learning and shopping - it has undoubtedly managed to rather positively affect every aspect of our lives. Many of the services that were predominantly taking a lot of efforts and time in the past are now just a few clicks away from us. More and more companies decide to “smart-icy” their devices and it feels like even the air conditioners are coming with internet connectivity. The range of things/devices connected to the internet is truly astounding and keeps on growing each day. They provide us, the users, with highly accessible information at any moment, but at the same time, they can very much the same pose a treat to our personal data. It’s important to recognize the different types of risks that exist in the online world. When online, keep this in mind and take a moment to consider how to take care of your information and personal data before acting.

Poorly secured smart devices are only some of the serious threats to the security. Because the Internet is so easily accessible to anyone, it can become a dangerous place at the same time. Among these dangers are viruses erasing your entire system, someone breaking into your system and altering files, someone using your computer to attack others, or someone stealing your credit card information and making unauthorized purchases.

Of course, it is not just personal information that is at risk - the internet has also changed the way we buy and sell goods and services, and how we do business in general, making the private sector highly vulnerable in cyberspace. The huge value of the internet to business provides opportunities for criminals, as well as competitors, rogue states, and other malicious actors.

The Juniper research has shown in 2015 that by the year of 2019 cybercrime will cost businesses around $2.1 trillion globally. In the last 5 years, 81 million people have been a victim of identity theft, shares Bill Hargenrader, a cybersecurity expert, at his talk about why cyber security matters at TEDxCapeMay.


2017 also presents new challenges to the cybersecurity scene. According to the latest Intel Security report, the following 5 dangers rank as the new cybersecurity threats of 2017 and the list starts with:

1) Ransomware - Ransomware is software that infects a digital device or system, locking it down until the user meets the cybercriminal’s monetary demand. It is not a new threat: attackers have used this technique for many years, forcing you to pay in order to unlock your PC after an infection.

2) Internet of Things Bonnets - Relatively new in 2017 is a rise in attacks involving the ‘Internet of Things.’ IoT is a broad term that describes the technologies that connect our smart devices together – things like smart locks, thermostats, and security cameras. With a marked increase in smart home adoption expected, IoT attacks will only increase.

3) Phishing and Whaling attacks - Whaling is a specific form of phishing that's targeted at high-profile business executives, manager, and the like. It's different from ordinary phishing in that with whaling, the emails or web pages serving the scam take on a more official or serious look and are usually targeting someone in particular. For perspective, regular non-whaling phishing is usually an attempt to get someone's login information to a social media site or bank.

4) Business Process Compromise Attacks - Every enterprise has unique operational processes in place, and most are specifically designed for the distinct needs of each business. BEC attacks are where a criminal might look to imitate high-level senior staff, by email and using social engineering techniques, in order to get, for example, a CFO to sign off a large payment or handing over of details.

5) Machine Learning enabled attacks - It looks like the technology of Artificial Intelligence seems to be serving both the good and bad people. Machine learning is being used to launch social engineering attacks mainly. For instance, if hackers gain access to publicly available data, they can use complex analysis tools to pick targets more precisely and with a greater level of success.

So, should you be worried about security? Absolutely. Are you going to do something about it? We hope so.


What are We doing about it?

Garage48 is taking further steps and will organize a series of hackathons devoted to the subject of Cybersecurity in the next months. The first one will take place on 10-12 in Kharkiv, Ukraine. The main aim of the Garage48 Cyber Security hackathon is to find solutions to some of these recurring problems or come up with completely fresh approaches which would take the cybersecurity to the next level.

You can still join us to hack the Cyberspace in Kharkiv and get your tickets to Cyber Security 2017 Kharkiv ASAP because the spots are limited!

Join us here: https://2event.com/ru/events/1001928