Understanding Cyber Threat Intelligence: To Safeguard Businesses from Cyber Threats

In today’s hyper-connected world, industries of all sizes depend on technology to manage operations, connect with customers, and store sensitive data. Despite the ease these developments bring, they also bear witness to a disturbing reality, which is an increase in cyber threats. Cybercriminals have turned the digital world into a hunting ground for ransomware attacks and phishing scams.

This problem isn’t just for big corporations with sprawling IT teams; small businesses, local startups, and even solo operators are their target, too. In fact, the unsettling truth is that cyber threats are no longer a question of if instead they’re a question of when.

Sure, it’s a sobering thought, but here’s the silver lining: understanding the threats can be your strongest and smartest defence. You can successfully protect your company from internet threats with the correct information and resources. This is where cyber threat intelligence becomes quite helpful. It serves as a handbook that helps you anticipate, terminate, and respond to these attacks as you sail the murky waters of cyber security.

Why Cyber Threats Feel Personal

Every business owner, no matter the industry, shares a common anxiety which is of their business being hacked? You’re not alone in this and honestly, it’s not a misplaced concern either.

Cyber criminals are constantly refining their techniques, targeting organisations that might not have strong defences. But here’s the thing: you don’t need a degree in cyber security to protect your livelihood. The key is understanding what you’re up against and taking proactive steps to stay ahead.

Let’s unpack what cyber threat intelligence is, explore the risks which can further help to mitigate, and break down practical strategies to safeguard your business.

What’s Cyber Threat Intelligence, Anyway?

At its core, cyber threat intelligence (CTI) is like a radar system for your business. It gathers and analyses data on potential cyber threats, helping you understand who’s out there, what they’re doing, and how they might strike.

This isn’t about crystal balls or guesswork. CTI focuses on understanding the tactics, techniques, and procedures (TTPs) of cyber attackers, so you can shift from a reactive stance—fixing problems after they arise—to a proactive one, where you prevent issues before they happen.

It’s about being prepared, not paranoid.

Why do you need a Cyber Threat Intelligence Analyst?

A cyber threat intelligence analyst is a security professional who plays a crucial role in safeguarding organisations against cyber threats. These professionals keep an eye on and evaluate data about external threats, transforming it into useful insight that can shield companies. Through the analysis of security incidents, they uncover patterns, methodologies, motives, and the severity of attacks,  offering a thorough picture of the threat landscape.

Their work doesn’t stop at analysis—they also filter and refine this data to create threat intelligence feeds and detailed reports. These insights empower security officers and management to make informed decisions about protecting organisational assets. Often, these analysts are Certified Threat and Intelligence Analysts, equipped with the expertise and skills needed to perform this critical job effectively.

Common Cyber Threats to Watch Out For

Cyber threats can take many forms and could have some serious repercussions and here are some threats you should be aware of:

Phishing Scams: Those convincing emails or texts designed to trick you into handing over sensitive information.

Ransomware Attacks: Malicious software that locks you out of your data until you pay a ransom.

Data Breaches: Cyber criminals accessing and exposing confidential information, causing financial and reputational damage.

Insider Threats: Employees—whether malicious or simply careless—who inadvertently leave your systems vulnerable.

Understanding these threats is your first step toward staying protected.

A Practical Guide to Protecting Your Business:  

• Build a Cyber Threat Intelligence Program

Think of this as your security HQ. By monitoring potential threats and analysing trends, you can stay one step ahead of hackers.

• Schedule Regular Security Audits

Like regular car servicing, security checks identify vulnerabilities before they become critical problems.

• Train Your Team

Your employees are your first line of defence. Equip them with the skills to recognise phishing scams and follow secure practices.

• Partner with Cyber Security Experts

A trusted cyber security provider can tailor solutions to fit your business, giving you comprehensive protection without the headache of doing it all yourself.

• Develop an Incident Response Plan

Be ready for the worst-case scenario. A well-thought-out plan can minimise damage and get you back on track quickly after an attack.

Fundamental Concepts for Setting up a Cyber Threat Intelligence Program

• Create a Clear Plan: Develop a concise, executable plan tailored to your company’s specific needs.
• Involve the Right People: Engage relevant stakeholders from all necessary departments in the process.
• Differentiate Between Threat Data and Threat Intelligence: Focus on actionable intelligence rather than raw threat data to highlight key insights.
• Maintain Open Communication: Ensure smooth communication between teams and identify who needs access to the intelligence.
• Utilise the Right TTPs (Tools, Techniques, and Procedures): Implement effective tools and methods to accurately identify and mitigate threats.
• Integrate with Existing Security Technologies: Ensure seamless integration with your company’s current security infrastructure for enhanced protection.

The Role of a Threat Analyst in the Threat Intelligence Lifecycle

Also known as “cyber threat analysts,” these experts play an important role in the threat intelligence lifecycle. They collect, assess, and convert unstructured threat data into insightful intelligence, which they then communicate to the appropriate departments in concise reports. Their efforts are crucial to developing a strong threat intelligence programme in addition to bolstering an organisation’s defences.

Having a certified cyber intelligence analyst onboard ensures that businesses are equipped to anticipate and respond to threats before they escalate, reinforcing the organisation’s overall cyber resilience.

Conclusion 

Cyber threats are real, but they’re not impassable. You may save your company from becoming just another statistic by being aware of the hazards, comprehending cyber threat intelligence, and taking preventative action.

Installing firewalls and antivirus software is only one aspect of it. It all comes down to developing a vigilant mindset, educating your staff, and putting the appropriate plans in place.

Ready to Act?

Don’t let cyber threats catch you off guard. Start today:

Assess your current security measures.

Educate your team.

Reach out to a cyber security expert for a consultation.

Let us help you secure your business today. With over 70 years of combined experience, NXT provides expert solutions tailored to your needs, ensuring comprehensive protection and peace of mind. Trust us to safeguard your business against the growing digital risks. The digital world is full of opportunities, but it’s also full of risks. By taking control now, you can secure your business for the future.

For more tips and insights, check out our blog and stay informed about the latest in cyber security.

How Cloud Computing is Revolutionising IT Procurement

Cloud computing has dramatically reshaped the face of the IT landscape, especially when it comes to how businesses acquire hardware and software. Traditionally companies invested heavily in acquiring suitable physical infrastructure and software licences. But with cloud computing taking over, the process has become more flexible, efficient, and cost effective.

This blog will help you understand the interrelationship between cloud computing and hardware and software procurement, how it has reshaped the IT landscape and the various benefits and challenges associated with it.

Previously hardware and software procurement were two separate processes. Businesses would usually first buy the physical servers and networking equipment and then choose software that is compatible with them. Now, with cloud computing, these processes are intertwined. Cloud computing allows companies to rent the hardware, which is in the form of virtual infrastructure, and software as a single package. This eliminates the traditional complexities of IT procurement.

Why shifting to cloud computing is a game-changer for your business?

There are quite a few benefits that come with moving hardware and software procurement to the cloud:

• Cost Efficient:

  Cloud services transform CapEx to OpEx, which reduces the need for costly upfront investment in physical infrastructure and software licences. Companies can now pay for just what they use, which makes managing budgets easier and avoids over-provisioning.
  

• Scalability and Flexibility:

  With cloud computing, it is possible for businesses to scale their resources in real time to meet changing demands. Whether it is more computing power or additional software licences that your business requires, cloud services can help you adapt easily without the need of purchasing extra hardware or software.
  

• Zero Maintenance:

  All maintenance, updates and security patches for hardware and software are done directly by cloud providers. This drastically reduces the burden on your internal IT team.
  

• Better Collaboration:

  Cloud-based software is mostly designed with collaboration in mind, which lets employees work together remotely from any location. This can greatly help in streamlining workflows especially in today’s remote work environment.

How does cloud computing streamline infrastructure and hardware needs?

The need for businesses to purchase costly servers, storage devices, and networking equipment has been replaced by cloud computing. These resources can now be accessed through cloud providers like AWS, Microsoft Azure, or Google Cloud. This shift offers several advantages like:

• Infrastructure as a Service:

  Cloud providers offer IaaS which allows a business to rent virtualised hardware resources like servers, storage, and networking. This helps to eliminate the need to maintain and manage physical hardware on-site, which lets companies to easily scale up or down their infrastructure depending on their requirements.
  

• Less on-site hardware:

  Since cloud services help reduce the requirement for on-site hardware it helps bring down upfront costs and ongoing expenses related to maintenance, energy consumption, and physical space.

How does cloud computing simplify software licensing and management?

With cloud computing, the need to purchase software licences and manage installations on individual devices has been simplified and made more efficient.

• Software as a Service:

  SaaS is one of the most popular cloud models, where software is hosted and maintained by a cloud provider. By changing to this subscription based model, software procurement turns into an operational expense which reduces upfront expenses and ensures access to the latest version of the software.
  

• Cost Effective

  Previously, software procurement required significant upfront investment. On top of that, there were additional costs for updates and patches. On the other hand, cloud software is delivered through a subscription that often includes regular updates. This ensures that businesses would remain up-to-date without any additional fees.

What potential issues come with transitioning to the cloud?

While cloud computing offers significant advantages, there are also challenges that businesses must consider:

• Data Security & Compliance:

  When storing data in the cloud, privacy, security, and regulatory compliance concerns often come up. Businesses need to be vigilant and ensure that their cloud providers adhere to industry standards for data protection and have good security measures in place.

• Vendor Lock-In:

  Many businesses become heavily dependent on their chosen cloud provider, making it difficult to switch to a different provider later on. Migrating between cloud platforms can be both financially demanding and technically difficult.

• Integration with Legacy Systems:

  Some businesses still rely on legacy systems that may not integrate properly with cloud-based solutions. It’s essential to evaluate whether cloud services can coexist with on-premises systems or if a full migration is necessary.

• Internet Reliability:

  Cloud services rely on a stable and fast internet connection. Any disruptions in connectivity can impact access to critical applications and data, potentially affecting business operations.

Cloud computing is undeniably reshaping the IT world, bringing key benefits like reduced costs, increased scalability, flexibility, and improved operational efficiency. But having a good provider who helps you with all your cloud requirements as well as hardware and software procurement is crucial.

At Nxt IT, we specialise in providing comprehensive and custom cloud services to businesses of all sizes. Whether you’re looking to move your infrastructure to the cloud or adopt cloud-based software, we provide secure and reliable solutions that enable your business to grow and thrive.

With over 70 years of combined experience and a reputation as one of the most trusted IT service providers in Canberra and Griffith, we’ll walk with you through every step of your cloud journey. Contact us now, and we’ll help your business unlock the limitless possibilities of cloud computing.

Smarter Phishing Techniques Observed as Cybersecurity Tools Become Advanced

As cybersecurity solutions become better at detecting email-based threats using machine learning (ML) and other advanced tools, cybercriminals continue to tweak their arsenal and employ leveled up versions of tried-and-tested social engineering tactics — such as phishing — to increase the likelihood of users falling for fraud, identity theft, or spoofing which could lead to enterprises losing substantial amounts of money. The FBI reports that between October 2013 and May 2018, businesses in and outside of the U.S. have lost over US$12.5 billion dollars from business email compromise (BEC) scams.

Our annual Cloud App Security report reveals that in 2018 alone, our Trend Micro™ Smart Protection Network™ security infrastructure blocked over 41 billion email threats. With heightened awareness that it just takes one successful phishing email for a business to incur massive financial losses, companies have learned to employ better email security solutions and practices. To this, cybercriminals responded by changing gears and improving their phishing strategies.

More Sophisticated Phishing Techniques

Today, it’s not just malware used that’s evolving and targeted – the technique in which it is delivered to victims has also taken on these characteristics.

Phishing has been morphing. According to the recently released Microsoft Security Intelligence Report cybercriminals are making it harder even for advanced cybersecurity tools to detect phishing emails. They are now sending phishing emails via varied infrastructure, avoiding using a single URL, IP address, or domain for sending out the emails. Aside from this, there has been a noted growth in the use of popular document sharing and collaboration sites by attackers in siphoning off sensitive user information such as email addresses, usernames, and passwords via fraudulent login forms. Out of the 8.9 million high-risk email threats that our Trend Micro™ Cloud App Security™ solution detected and blocked in 2018, we found that 40 percent of them were credential phishing attacks. 

The Microsoft report also notes that attackers have increasingly used compromised email accounts to spread malicious emails in and out of an organization. The report also reveals that phishing campaigns made use of a combination of email-based attacks: one that is short, which is operative for several minutes; one that is active for an extended period of time and at a great volume; and a “serial variant” which is active for a period of consecutive days and at a small volume.

In addition, last year, we observed a unique phishing campaign at work — it uses compromised email accounts to reply to ongoing email threads. The legitimate-looking email responses contain malicious documents that house the banking trojan and spyware URSNIF, which victims unwittingly downloaded to their systems. We also saw an Apple ID phishing scam that scare users into clicking links to a credential phishing site, telling them that their service will be suspended if they do not reveal their personal information. We also detected a peculiar combination of phishing and malware techniques used in a campaign that spread the CamuBot banking trojan to business-class bank users in Brazil.

Written by Trend Micro, posted in Threat Landscape, Machine Learning, Phishing, Business Email Compromise