Strategic Importance Of Dark Web Monitoring For CEOs
Researchers observed the almost 40,000 dark web posts related to the sale of internal corporate information in 2023.
Alan J July 24, 2024
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Security experts have stressed on the importance of dark web monitoring for CEOs of businesses and enterprises of all sizes as an essential measure to prioritize the safety and integrity of their organization’s digital presence. Password and data breaches published on the dark web and cybercriminal communities have become a common occurrence, leaving businesses vulnerable to severe consequences, including stolen bank accounts and identity theft.
To combat this threat, dark web monitoring is a proactive option to help identify, detect and mitigate potential breaches before they escalate into embarassing major security incidents.
CEOs guide to Dark Web Monitoring
The dark web is a small part of the deep web, which is considered as an unindexed sub-layer of the internet. It is inaccessible to conventional search engines. This anonymous environment is a hub for illegal activities, including the commission and sale of sensitive data such as digital credentials and records.
Dark web monitoring is a specialized process that involves searching for and monitoring of the spread of records related to organization or entity information across the dark web. Using advanced algorithms and techniques, dark web monitoring tools provide enhanced detection capabilities, allowing businesses to stay ahead of cyber threats.
The financial implications of a cyber attack can be severe. In 2020, DSG Retail Limited was fined £500,000 by the UK’s Information Commissioner’s Office after a point-of-sale system breach affected 14 million people.
A study conducted at King’s College London revealed that over 60% of more than 2,700 darknet sites were found to host illicit content facilitating criminal activity. It’s essential for CEOs to understand the techniques and methods cybercriminals use to steal data, such as phishing, malware, and keylogging, to recognize and prevent these threats.
For CEOs, the stakes are high. A single compromised password can lead to devastating consequences, from financial losses to reputational damage. With 80% of individuals reusing passwords across multiple accounts, the risk of a breach extends far beyond a single compromised system.
The Sale of Ransomware and Malware
The dark web is a hub for the sale of ransomware malware that is used in threat campaigns. These attacks can be devastating for businesses, the 2017 WannaCry attack on the UK’s NHS that reportedly led to it losing £92 million as well as the cancellation of over 19,000 appointments. In the same year, shipping giant A.P. Moller-Maersk suffered losses of between $200-$300 million due to the NotPetya malware attack, which rendered apps, laptops, and servers useless. Dark web monitoring can help counter threat posed by sale of such services among dark web forums.
The Sale of Business Data
If your business is hacked and your data stolen, it may well end up for sale on the dark web making it critical for a suitable platform providing dark web threat intelligence for corporate leaders. Hackers also sell access to breached company databases, leaving them open to the theft of anything from financial information to employees’ personal details.
Last year, Kaspersky researchers observed the sale of almost 40,000 dark web posts about the sale of internal corporate information a 16% increase compared to the previous year.
The Sale of Credit Card Details
It’s estimated that over 23 million credit cards are offered for sale on the dark web, which may have come from various sources, including online stores’ checkout processes. Marketplaces called Automated Vending Carts (AVCs) are used to sell credit card details without the buyer and seller needing to interact.
Importance of Dark Web Monitoring for CEOs
Dark web monitoring offers a strategic advantage in the ongoing battle against cybercrime. Here are some benefits of dark web monitoring for business executives:
- Detect breaches early: Identify compromised credentials before they’re exploited.
- Assess vulnerabilities: Gain insights into potential weak points in security protocols.
- Enhance incident response: React swiftly to emerging threats with actionable intelligence.
- Protect executive data: Organizations can place special focus on protecting executive data through dark web monitoring tools.
Implementing a robust dark web monitoring program allows CEOs to stay ahead of potential threats, protecting their company’s assets and reputation. This is crucial given the rise of ransomware-as-a-service and malware-as-a-service packages on the dark web, which enable even non-technical criminals to launch sophisticated attacks.
Building a Security Strategy
While dark web monitoring is a powerful tool, it’s just one piece of a comprehensive cybersecurity strategy. CEOs should consider:
- Dark Web Monitoring: Reliable dark web risks and monitoring solutions for CEOs such as Cyble Vision or Cyble Darkweb Intelligence can be integrated into broader security strategies to provide dark web threat intelligence for corporate leaders.
- Employee education: Train staff to recognize and report potential security threats or respond to claims of breach or compromise. Dedicated staff should feel encouraged to make reports on strategic insights on dark web threats for executives.
- Multi-factor authentication: Implement additional layers of security beyond passwords to protect against leaked credentials offered for sale on the Dark Web.
- Regular security audits: Continuously assess and improve organizational defenses. By combining dark web monitoring with these broader security measures, CEOs can create a robust defense against evolving cyber threats.
- Leverage AI Tools in Security Implementation: Incorporate AI-powered dark web monitoring solutions like Cyble’s award-winning cyber threat intelligence platform to make use of rich automated feeds. These automated feeds can help in the devisement of updated dark web monitoring strategies for company CEOs
In an era where data is a precious commodity, dark web monitoring provides CEOs with critical insights to safeguard their organizations
