Erwan Keraudy, CEO, CybelAngel.
Have you ever received an email notifying you that an unrecognized device signed into one of your personal online accounts? Knowing that someone had a hold of your credentials and may have been able to access your personal data is extremely unsettling.
Now imagine that same feeling but for an organization’s entire network of sensitive data. The stakes for stolen work credentials are innumerably higher since that actor could gain access to so much more: employee data, financial data, critical IP and any number of sensitive files, which makes them an extremely appealing target for hackers.
In 2023, the value of stolen credentials is at an all-time high, and retro malware is making a comeback to harvest them and disrupt the enterprise. To prevent falling victim to this cunning and re-emerging malware, businesses must take proactive steps toward raising awareness and diligence among their employees. Time is of the essence.
So, what is putting your organization at risk? You may have heard the term “infostealers.” This type of malware, first detected in 2006 and gaining popularity since 2019, collects browser-saved information such as passwords, credit card details, cookies and browser history and software credentials (personal logins to your bank, insurance and even corporate logins like Microsoft Outlook or Salesforce).
Infostealers can steal auto-complete data from browsers and other digital platforms, which can be used to bypass common authentication methods such as MFA. Stolen credentials are then sold on the dark web, putting credentials directly in the hands of dangerous cybercriminals and creating massive exposure to organizations’ internal networks and sensitive information.
The consequences of a data breach can be disastrous for businesses, ranging from massive financial losses to irreversible reputational damage. IBM’s 2022 Cost of a Data Breach Report revealed that the average total cost of data breaches in 2022 was $4.35 million. In 2022, Medibank suffered an attack stealing 9.7 million customers’ personal details that were then released on the dark web, while the Uber hacker gained full access to the company’s internal network and compromised many of the company’s internal systems.
Organizations must be proactive in preventing these attacks, and it is essential to act fast. Here are practical steps that business leaders can take to protect their enterprises against infostealers.
1. Trust your gut.
According to the Verizon 2022 Data Breach Incident Report, the human element is the most common threat vector and the root cause of 82% of data breaches. If your gut is telling you that something looks fishy (a slightly “off” email, link or site), it probably is. Trust your intuition, and don’t fall for malicious actors. Most importantly, be a leader and spread your knowledge and experiences with others, both within and outside of your organization.
2. Keep passwords on lockdown.
Too often, I see people setting and forgetting about their passwords. While updating and maintaining (and keeping track of) the multiple passwords we use every day may seem like a large and tedious task, it cannot be put on the back burner. Especially within organizations, employees must understand the importance of maintaining strong, complex passwords and keeping their passwords confidential.
As a business leader, require employees to regularly update passwords, implement two-factor authentication and never use the same password across accounts.
3. Stay ahead of the software game.
Updating software and applications is critical to preventing infostealer attacks. Hackers often exploit known vulnerabilities in outdated software to gain access to systems. Updating software doesn’t have to be complicated—something as simple as keeping browsers up to date is a great, easy way to combat credential attacks after browser-saved information. Zero days are often discovered for numerous enterprise resources. Get employees in the habit of updating their software and keeping the IT team on top of patches.
Infostealers are a dangerous, looming threat to businesses worldwide, as stolen credentials are a hacker’s playground. By increasing awareness and diligence, investing in the right tools, conducting regular vulnerability assessments and keeping software up to date, businesses can better protect themselves against infostealer attacks. Proactivity is critical to preventing these attacks and ensuring that all employees are aware of the risks and trained to be vigilant. With these measures in place, businesses can intercept compromised credentials before they are weaponized.
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