Almost all industries are vulnerable to cyberattacks, and threat actors continually find new techniques to damage an organization’s reputation using various ways.
According to the NTT Global Threat Intelligence report, hackers are going towards automation to attack their targets at a faster pace.
While this innovation is causing disruption in many industries, software and technology companies suffer the most due to various reasons. In an analysis report data from over 4000 business owners, technology, finance, manufacturing, and healthcare are the most affected industries.
The real question is why threat actors are more inclined towards software and technology companies and what precautions they can take to prevent any damaging effort.
Tech Software Companies Under Risk – Reasons
The technology sector is evolving at a faster pace, and so are the cyberattacks. According to Rob Kraus, over 25% of all cyber-attacks are imposed on the technology sector. This includes all the big tech companies that provide cloud-based or computer software on various subscription models.
The threat actors always try to reverse engineer the software’s source code to find some exploitable clues. Any small leak can put the reputation of a whole organization at stake because their business models rely on software and technology.
They are also extorting the source code of different software to make zero-day exploits using an exposed vulnerability.
If we look at major software vendors, they also keep releasing the latest patches for their applications. These patches are meant to fix any flaws or vulnerabilities that reside in their software.
Big companies like Microsoft and Adobe constantly tries to improve their software security, but risks are still there. In March, April and May alone, Microsoft patched CVE 115, 111, and 113.
Kraus further expanded on this issue, and he said that most of these attacks are not just limited to RCE or injections, but 30% of these techniques are newly discovered.
A big contributing risk factor is those IT employees who use their personal devices to access the company’s accounts, and they also share devices that provide a gateway to threat actors.
What Software Companies can do?
The cyber-attacks from all these threat actors are almost inevitable as no software is secured to perfection. Major tech players such as Adobe keeps introducing new patches to fix small flaws in their system. These flaws are mostly recognized by white hat hackers who get a reward in return to report the vulnerabilities.
Software companies can still prevent such attacks by securing their cloud infrastructure, training IT employees, and fixing their software flaws. This is the baseline for any tech software company to follow, but cybersecurity experts are also developing new security measures to limit attacks coming from threat actors.
Software and technology companies heavily rely on the latest technologies to develop their applications. These applications are more prone to attacks because everything is pretty much transparent. Threat actors study source code to find exploitable points that may lead to a data breach or reputation loss for a company.
Regular vulnerability patching is probably the most efficient way for these tech software companies to stay secure. Otherwise, threat actors are always there to harm technology companies with their destructive tools and methods.