Risk and Threat Assessment Report

Risk and Threat Assessment Report

Executive Summary

Just as a coin has its two sides, so is the internet. For industries, enterprises, and other institutions, the internet can result in a lot of benefits in terms of connecting with clients and getting the needed information to improve their businesses. On the other hand, the internet can cause a real nightmare for your organization if used to inappropriately. Using the open internet which is unsecured to conduct business transactions, it might hamper your business to the point of causing a breakdown of operations in the organization. Due to the lack of proper security measures and restrictions on the internet, it opens up opportunities for hackers to use backdoors systems to access people’s information.

With every day that passes, technology continues its advancement, and so are the hackers. The internet and cyber systems are highly exposed to threats in today’s world because of the newly formulated methods by hackers to cause harm in the tech world. Using network hacking database hacking or the spread of malware to computers, hackers nowadays can access personal information and confidential data for companies. The data phished is usually used to commit criminal activities and fraud. The viruses and malware that affect computers can cause loss of money, computer breakdown, and exposing the security of a cyber-system, which renders it vulnerable to more risks and threats, which cause malfunction of the computer systems and networks.

Organizations need to run periodic reviews and audits on their systems to ensure that everything is in its place, note the strengths that the systems have so that they can use them to exploit new opportunities and reduce threats and weaknesses that might expose the system. Upgrading the software and hardware in an organization is one of the measures to take against these risks and always use a strong password to protect your data from being easily accessible. This paper will look into the risks and threats that face the cyber world and give a clear overview of the systems they affect and how they are affected

Risk and Threat Assessment Report

Introduction

Due to technological advancement and automation of services, online threats and risks have increased which posing a danger to the network, operating systems, and computer software. The open internet is a playing ground for all sorts of people, programs, and malware or viruses that might infect or hack your computer system. Hackers and malware are the two most critical factors that pose a real threat to computer systems and networks. The two factors can only gain access to your system or network if there is a weak point in the system that can be exploited to gain access to the database or the network. Computer threats are real and they can cause adverse effect on your computer system affecting how it operates or even a causing a crush of systems.

Risk and Threats Associated Conducting Online Transactions

Online Security is not assured hence exposing a user to multiple threats and risks. It is essential to know that when using the internet without special or secure VPN to perform transactions, there is no protection assured. The internet is an open platform where someone with special computer skills or a hacker can intersect your transactions, which might lead to loss of relevant data or even money (Röpke & Holz 2015). Still conducting transactions via online platforms can expose you to malware attacks, which might cause a malfunction in your system or breakdown your devices. Also, it puts you at a high risk of getting ransomware (virus) injected in your system by hackers who might encrypt all your data and ask for a ransom for them to decrypt it, which has been a typical attack conducted online.

System Unreliability is another factor that makes the internet an unreliable platform for conducting transactions. The internet is a service by Internet Service Providers, and so it is like an online service just like any other. The internet is a software/program like any other computer software; it might have errors in its codes or algorithm. Having glitches or even a complete crash of the system is possible, and if it happens, it will render all the services accessed via online platforms unusable (Maurer, 2015). For example, online banking, online shops, or any other type of service offered that requires an online transaction. For this reason, then it is important not to entirely depend on online for transactions as it can breakdown anytime.

The internet is an open field for every one hence not assuring the users of privacy either of their details or the data they share. This is another major problem with the internet that goes hand in hand with the aspect of lacking security on the online platforms that people use for transactions (Maurer, 2015). Your private personal details that you share online can be easily accessed by hackers or cyberbullies and use it against you. The open internet (online) has no protection, and anybody with the skills can quickly get the information about you. This results in spamming, unsolicited marketing, and identity theft, which might cause adverse negative effects on you and your business. This has also led to credit card fraud, where hackers steal your credit card details and use them for their benefits. It is essential always to remember the risks associated with online transactions and find ways of avoiding or preventing them.

Operating Systems, Networks, and System Software Threats

Computer Virus is one of the major threats to a computer system and networks. A cyber virus is a malicious code that infects your computer by replicating itself and copying itself as a part of a program in your computer and changes the way the machine works. It can also copy itself in the computer boot sector, documents, or any other thing stored on the computer. Viruses are dangerous as they alter the way a computer function, and times it might affect some data stored in the hard drives (Maurer, 2015). The cyber viruses can be transferred from one computer to another without the user’s knowledge or acquired from the internet. When your computer is infected with a virus, it might delete everything on your hard drives, encrypt your data, making it inaccessible. Also, it might send spam emails to your contacts, corrupt, or steal your personal information from the computer, which might be used for criminal activities. These viruses disable your firewall making your computer venerable to more attacks from hackers and other viruses.

Distributed Denial of Service (DDoS) attack is a cyber-attack that affects the network, compromises the servers causing a failure of system and operations (Gupta, 2011).  The DDoS attack targets taking a service offered by an organization on the internet offline or render the organization’s resources unusable. This attack is made by directing an overwhelming amount of simultaneous internet traffic on the target. When this attack happens, it affects all systems and networks, denying someone access to a website, online platform, or any other services offered online (Kalita, 2016). This attack paralyzes the functions, and their customers cannot access the system of an organization as their services. It affects the operating system, the network, and the system software.

Rootkit is a combination of several software and programs that hack the system of your computer. This is a type of hack that affects the computer systems and networks as it takes control of your computer and controls it remotely with administrator-level access (Maurer, 2015). With this, someone can access your details and use them for criminal activities or use your computer to conduct fraud. A spyware type of malware is also part of the rootkits attack where the malicious code can activate your web camera on your laptop or computer and starts recording everything, thus invading your privacy. The information acquired during this can be used to blackmail someone or even steal their passwords.  It is a real threat as it might get someone into trouble with the authorities, and also it might leak your information to the world.

Risk Related To the Database

The database is usually the heart of information or data of an organization or an enterprise. The fact that it contains details of customers and confidential organization data it makes it an easy target for hackers to manipulate as they can source a lot of information at once (Maurer, 2015). Over the years, databases have been at risk of being penetrated, and it affects the business in one way or another resulting in leakage of confidential information about the company, damages to the information or data, and loss of finances. The following are the top threats that face the data base.

Excessive Privileges is a database glitch that gives normal users administrative level access to the database, enabling them to change information on or tamper with the records and data in the system (Maurer, 2015). This is risky for organizations as anybody with access to the system can change any information they want. The unrestricted authorization or access of a database can also happen if the system or network is injected with an SQL virus or code. SQL is a type of malicious code that is injected into a database, which gives someone unrestricted access to all the data and information in the system (Maurer, 2015). This is dangerous as the data got can be used for criminal activities.

Conclusion

Many big organizations find it challenging to carry a full inventory of their databases, and all the information contained there. This results in unmanaged sensitive data that can be accessed and used for the evil deed. It is crucial always to store data in an encrypted form and always store it right. It is important to note that with the evolution of technology, more sophisticated methods of tampering with a computer system or a network have been designed. It is always essential to look for new ways of protecting yourself from such attaches and threats, which can be done by upgrading your cybersecurity and firewalls.

References

Balasubramanian, K., Rajakani, M., &  Mala, K. (2016). Cryptographic solutions for secure online banking and commerce.

Gupta, B. B. (2011). An introduction to DDoS attacks and defense mechanisms: An analyst’s handbook. Saarbrücken: Lap Lambert Academic Pub

Kalita, J. K. (2016). DDOS attacks – evolution, detection, prevention, reaction, and tolerance.

Maurer, R.(2015). Top Database Security Threats and How to Mitigate Them. Retrieved from https://www.shrm.org/resourcesandtools/hr-topics/risk-management/pages/top-database-security-threats.aspx

Röpke, Christian & Holz, Thorsten. (2015). On network operating system security. International Journal of Network Management. 26. n/a-n/a. 10.1002/nem.1918.