There is a boom in cyberattacks to find credentials to access resources and information stored in cloud systems, and using cybersecurity operations centres is one of the ways through which companies are combating this, says information technology (IT) multinational Dimension Data cybersecurity CTO Mark Thomas.

The nature of cyberattacks is changing. While the aim remains to find valuable information, especially personal information and company credentials, other malware – such as cryptojacking malware, which hijacks infected computers’ computing resources to mine cryptocurrency – is also increasing.

The financial, technology, business and professional services industries are targeted the most, with attacks against the financial services sector having increased by between 20% and 30% over the past year, he says.

Threat actors and hackers are interested in the value of financial services, credentials, unique intellectual property and their clients’ details, explains Thomas.

Similarly, attacks are often directed at services, such as business applications (apps), to embed malicious code into the app code or firmware of systems.

“There is a rise in credential theft aimed at breaching cloud-based environments and stealing personal information, contact lists and intellectual property. This is part of a recognisable shift in the style of attacks year-on-year and a lot of controls in which organisations have invested cannot detect the new style of attacks.”

Further, while organisations may not have the budgets in place to secure the latest and greatest cybersecurity tools, best practices and basic cyberhygiene – such as treating attachments with due caution, removing unnecessary attachments and ensuring that sensitive details are not exposed – do not cost much and can help stymie attacks targeting credentials, he adds.

Thomas recommends that companies determine what security they want and then determine their current cybersecurity posture and the controls they have in place.

“Cybersecurity best practices are foundational and an effective way of using available resources.”

Education and awareness drives are also necessary to support good cybersecurity posture and practices, after which the organisation can more securely grow its footprint and associated cybersecurity systems, says Thomas.

However, expert cybersecurity skills and tools are still out of reach for most organisations, but are increasingly necessary to deal with the rapid changes in cyberattacks and the growth in attack vectors (paths through which an attack can be carried out) from increasingly complex IT ecosystems.

Cybersecurity services and organisations, therefore, play a critical role in combating the rising challenges organisations face in maintaining their digital environments.

“Companies have on-premise infrastructure, data and apps in the cloud. They are investing in devices and need to enable personnel to work from anywhere and still secure the infrastructure, as well as meet regulations for protecting personal data such as breach notification.”