Cybersecurity Vulnerabilities: 6 Key Types & Risk Reduction

Posted on: Oct 14, 2024 | 3 mins | Written by: HDFC ERGO Team

Cybersecurity Vulnerabilities: 6 Key Types & Risk Reduction

Types of vulnerability in cyber security

Before proceeding to the types of vulnerability, first of all, let us attempt to define the fundamental concept of Cyber Security.

Cybersecurity is the art of protecting systems, networks, and data from any unauthorised persons, cybercriminals, theft and damage to their systems. Cyber attacks are used to exploit vulnerabilities for malicious purposes such as data theft, disruption of services, or compromise of system security, and for such protection, the following measures have to be employed. Cybersecurity consists of a wide array of measures and tools which are expected to prevent attacks like DoS attacks, ransomware, malware, and phishing.

Essentially, the basic part of cyber security is the introduction of a fence by implementing firewalls, encryption, use of multi-factor authentication, and other methods that create barriers against cyber threats. It also includes periodic security check-ups, risk evaluation, and dealing with security breaches when they occur.

Cybersecurity Vulnerability vs Cyber Threats

Even though these two terms are often used to mean the same thing, cybersecurity threat, and cybersecurity vulnerability can be said to be two different concepts. Cybersecurity vulnerabilities, as will be illustrated here, are flaws or imperfections that are inherent in a system’s design. These are not vulnerabilities created by hostile behaviours but rather are vulnerabilities from the beginning because of design faults, configuration mistakes, or other oversights.

A cyber threat, on the other hand, is the potential risk that originates from threats that exploit these openings. Cyber risks are created when these threat actors, including hackers and malicious software, detect these flaws and use them to gain unlawful access to systems, pilfer data or disrupt organisational operations.

However it is necessary to always distinguish between cyber threats and vulnerabilities: threats are intentional, external actions aimed at exploiting these weaknesses, while vulnerabilities are an inherent feature of the design of a system.

The Need for Finding Vulnerabilities

Vulnerability is, therefore, a potential risk to the future security status of an organisation. If an attacker discovers this vulnerability and decides to take advantage of it, the company’s clients and it will be in deep trouble as data breaches and ransomware attacks cost millions of dollars.

It is important to notice that receiving an attempt to ambush is much cheaper than trying to counteract after the threat has been set into operation. The costs of rectifying those are lower when done early in SDLC, and therefore, the earlier vulnerabilities are detected and addressed, the less money a firm will have to spend. This is one of the reasons which has led to the implementation of DevSecOps and the starting of shift-left security by some organisations.

With that understanding of why vulnerability identification is crucial, let us proceed quickly to the categories of vulnerabilities common in cyber security.

Types of Vulnerabilities in CyberSecurity

There are multiple types of vulnerabilities in cyber security, but we will go through some of the most common types of vulnerabilities.

1. Zero Day

A zero-day vulnerability in computer security is a flaw that neither the software manufacturer nor the person in charge of repairing it is aware of. The seller has "zero days" to address the issue before attackers may take advantage of it because they are not aware of it.

The zero-day attack can be defined as a cybercriminal being able to develop and exploit these vulnerable attacks before even they can be patched up. As these assaults exploit the newly discovered areas of weakness that the security practitioners have not discerned, leaving systems open, they are extraordinarily lethal.

2. Remote Code Execution(RCE)

Among the different types of vulnerability in cybersecurity, the most common type is the ‘remote code execution’, which involves the capability of an attacker to run code on a system without touching it physically. This means that an attacker without actual control of a computer, server, or even a network device can nevertheless run programs or place code on it.

RCE vulnerabilities can occur due to many reasons, most commonly due to software flaws in the operating systems, the services or web applications. Anyone who finds these vulnerabilities can fire up particular queries aimed at tricking the system into executing the attacker’s code.

Security measures must though be taken to ensure that there is no RCE and though all the necessary precautions are taken, they can be exploited. Nevertheless, cyber insurance must form part of the overall risk management plan in this case.

3. Poor Data Sanitisation

Insufficient data sanitisation is characterised by the inability to clean or validate user input data which is to be processed. This may lead to the occurrence of several susceptibilities for instance SQL injection, remote code execution (RCE) as well as cross-site scripting (XSS).

Cyber insurance undoubtedly can cover expenses associated with the response to the data breach due to unsanitised data, including notification costs, credit monitoring for the victims, and others for legal actions.

4. Weak credentials

One common mistake individuals make is to establish weak and yet outstanding passwords to their accounts. Instead, they often rely on such habits as using the same passwords on multiple websites and having poor passwords which are easy to guess. Cybercriminals take advantage of these weaknesses by initiating brute force attacks and other methods to get these weak passwords.

5. Vulnerable API

A poor or buggy API is equally exploitable and can be used by a hacker to gain access to information they should not be accessing or changing the system. This type of API is known as vulnerable. Others may get access to data that they are not supposed to or take actions that they are not supposed to if an API does not vet users when they access it. Using injection attacks, such as SQL injection and command injection, may be possible for APIs that fail to evaluate the input data adequately.

6. Outdated Software

They are usually provided by software firms to flush out existing known vulnerabilities or incorporate extra features. A complex level can pertain to attacking unpatched or older software. As with misconfigured systems, these are the sorts of holes that are deliberately sought out by attackers.

Although security improvements that need fixing often come together with new software releases, the enterprise is to ensure that its endpoints and networks are updated correctly. Following all the updates and patches may be a restraining factor due to the fact that various programs may release updates frequently, and senior IT workers are often overburdened in their working schedules. Even when one update is missed, the firm may be seriously at risk from ransomware, malware, and other defects in security.

Measures to reduce the risk of getting affected due to Cyber Security Vulnerabilities

To ensure that one protects himself or herself from the threats inherent in cybersecurity, one has to ensure that he or she has a work plan that comprises preventive and responding measures. This is a how-to guide for protecting your data and systems: This is a how-to guide for protecting your data and systems:

1. Turn on Multi-Factor Authentication (MFA)

Today, you may be able to offer an extra layer of protection by having more verification methods apart from a password.

2. Maintain Up-to-Date Software

• Continual Updates: Update and patch all operating systems, applications, and software whenever possible to correct known vulnerabilities.

• Automate Updates: In this way, ensure that updating is automated as much as possible to avoid failure in updating that results in the omission of significant updates.

3. Leverage Cyber Insurance Coverage

• To lessen the financial effect of a security breach, think about acquiring cyber insurance for entrepreneur.

• Risk management: Evaluate and control cybersecurity risks in collaboration with your insurance provider.

These procedures can help you improve your entire defence against possible threats and drastically lower the likelihood of cybersecurity weaknesses in your security approach.

FAQ’s

1. What is a vulnerability known as a zero-day?

The zero-day vulnerability in computer security is an undiscovered software fault that hackers take advantage of before the manufacturer can patch it.

2. What effects may remote code execution (RCE) have on a system?

RCE gives hackers the ability to remotely run arbitrary code on a system, which might result in control and data theft.

3. What makes cyber insurance crucial?

Cyber insurance supplements preventative measures by assisting with recovery efforts and mitigating financial consequences from breaches.

Conclusion

It is essential to recognise and fix cybersecurity flaws in order to shield systems, networks, and data from possible attacks. Even though preventative steps like multi-factor authentication, frequent software updates, and secure passwords are crucial, adding cyber insurance may greatly improve your risk management plan. Cyber insurance helps businesses manage the complexity of cybersecurity by protecting against the financial effects of breaches and offering professional assistance. It also serves as a supplement to preventative measures. Putting into practice a thorough strategy that combines cyber insurance with preventative measures may significantly lower the likelihood of vulnerabilities and improve overall security posture.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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