Even ‘Cloud’ Might Not Protect Companies’ IT Networks from Hackers

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Cybercrime is ever increasing (source: news.com.au)

Bratislava, March 1 (TASR) – Not even setting up a ‘cloud’ (data storage placed with a different company) can always prevent hackers from breaching a firm’s computer network, said computer security expert Helmut Brechtken from Warth & Klein Grant Thornton Germany on Tuesday.

Brechtken presented his findings at a workshop entitled ‘Cybersecurity and Cybercrime’ organised by the American Chamber of Commerce in Slovakia. “Even a cloud can become the object of a cyber attack, and it isn’t necessarily safer than traditional network protection,” said Brechtken.

Companies’ awareness of the security of information technologies is ever increasing, however. A survey entitled ‘risk barometer’ carried out by Allianz insurance company attests to this trend. “According to the survey, firms’ awareness of cyber attacks is increasing every year. German entrepreneurs rated this kind of risk as the third most significant threat to business activities in 2016,” explained Brechtken.

The most common forms of attacks on companies’ IT systems are phishing, ransomware and so-called ‘fake president’ frauds. Phishing entails eliciting personal access data via bogus emails and then using the information to the detriment of those that have been tricked. “Ransomware is a relatively new phenomenon. The perpetrator penetrates the network, then encrypts certain files before asking for remuneration for decrypting them,” explained Brechtken.

When it comes to fake president fraud, subordinate employees receive fake emails from their superiors that tell them to transfer a certain amount of money immediately and discreetly to a different country. These emails are carefully counterfeited and bear all the company hallmarks.

Yet another form of attack is so-called ‘internal sabotage’ carried out by dissatisfied employees. This is very difficult to uncover and could result in large amounts of damage to a company.