The growing number of connected devices in today’s digitally-enabled world has made digital risk not simply a technical challenge — but a strategic necessity. All types of companies are facing an increasing amount of potential risks (from the most basic phishing/ransomware threat to the much more complex and sophisticated impersonation of brands and/or breach of customer/employee data) as well as rapidly evolving threat models. Therefore, in order to be able to counter the rapidly-evolving threats that exist, our defensive strategies must also evolve. No longer can robust digital risk protection remain optional — it is now one of the essential components of effective modern cybersecurity.
This article will review real-world strategies for digital risk protection, with emphasis placed upon how Netcraft’s digital risk protection capabilities help organizations protect their online reputation and presence.
The growing digital attack surface
As cloud-based applications have become ubiquitous and as many employees have moved to working remotely due to covid-19 (and as many organizations continue to pursue digital transformation initiatives), the areas where an organization may be vulnerable to a cyberattack has grown exponentially. However, because there are more opportunities for cyber attackers to identify vulnerabilities in their targets, they are taking advantage of this expanding “digital footprint” by using automated systems and AI to launch more targeted attacks against entire supply chains, employees, customers, and even a company’s it infrastructure.
The World Economic Forum recently reported that cybercrime could potentially cost the global economy $10.5 trillion in 2025. This staggering prediction further emphasizes the need for organizations to develop a complete digital risk protection strategy — one that addresses threats that extend far beyond the boundaries of traditional network perimeters.
Digital Risk Protection: Beyond Conventional Cybersecurity
The majority of existing cyber security products (firewall, anti-virus, IDS etc.) are designed to protect an organisation’s internal environment, however it is now recognised that a significant number of the most harmful types of cyber attacks originate externally. Digital Risk Protection (DRP), therefore extends the traditional model by identifying and protecting against all forms of risk that may be identified from across the internet, encompassing social media, mobile applications, and the ‘deep’ and ‘dark’ web.
Netcraft DRP is a prime example of this extended form of cyber security. Netcraft continues to scan the internet for potential threats such as phishing sites, fraudulently registered domains and brand abuse; providing organisations with early warning systems to enable them to identify and eliminate potential threats before they become actual incidents.
Key Components of an Effective Digital Risk Protection Strategy
A strong, proactive digital risk protection plan includes technology, employees and processes in order to build a complete, resilient cybersecurity wall. The following elements help form the foundation for that wall:
Proactive Threat Intelligence
Effective risk protection starts with intelligence. Proactively gathering and analyzing threat information allows organizations to anticipate risks rather than simply react to incidents. Netcraft digital risk protection leverages advanced web crawling, machine learning, and a vast dataset to identify emerging threats. This intelligence enables timely takedown of malicious infrastructure, helping to prevent attacks before they impact the organization.
Continuous Monitoring of External Assets
Organizations need to have an understanding of their entire digital presence (websites, domains, social media profiles, etc.), as well as other platforms (e.g. third party) at all times. The ongoing monitoring will also enable them to find and eliminate unauthorized use of company assets (brand fraud), phishing campaigns, and/or data leaks. Netcraft’s Digital Risk Protection offers continuous monitoring of the Internet for fake websites that pretend to be legitimate companies and enables the immediate elimination of these fake websites thereby reducing reputational damage.
Automated Threat Response
Cybersecurity relies on speed. Automated threat detection/response tools allow organizations to quickly respond to threats. Netcraft’s Digital Risk Protection has been recognized for its ability to rapidly take down sites/domains identified as being malicious. Upon identification of a malicious site/domain, automated workflow processes can initiate takedown requests and engage with relevant service providers to effectively remove the threat.
Employee Education/Training
While even the most sophisticated technology cannot replace employee education/training, social engineering/phishing remain two of the leading reasons for security breaches. Employee education/training must include regular training sessions, simulated phishing exercises, and open lines of communication. By incorporating digital risk intelligence gathered by Netcraft into employee education/training programs, both employee awareness and readiness can be enhanced.
Incident Response Plan
The best defense against potential cyber-attacks is preparation. An effective Incident Response Plan should outline the organization’s roles/responsibilities and escalation procedures. In addition, it should utilize digital risk intelligence to ensure that any internal threats are considered within simulated exercises/tabletop exercises. During incident investigations, Netcraft digital risk protection provides valuable insight to assist the team in fully assessing the extent and source(s) of a given attack.
The Unique Role of Netcraft Digital Risk Protection
Netcraft has been a leading name in the field of Digital Risk Protection for years and is used by many major corporations, government agencies, and financial institutions around the world. The reason Netcraft is at the top of this industry is because it offers an incredibly robust and highly effective digital risk protection platform that includes; real time information gathering, instant alerts and an extremely successful take down rate.
Another key feature of Netcraft’s Digital Risk Protection services is their ability to detect and protect against almost all types of cyber threats. These include phishing attacks, malicious software (malware) being distributed through infected websites or via other means, fake mobile applications claiming to be legitimate versions of your company’s application(s), and impersonation of your brand. With thousands of monitoring nodes placed strategically across the globe combined with the fact that they have established strong relationships with Internet Service Providers (ISPs) and Hosting companies, they are able to react very quickly to any identified threats.
In addition to identifying these potential threats, Netcraft’s systems will automatically alert your organization that a threat exists (such as a phishing website targeting one of your customers/employees) and begin the takedown of that site as well. In some cases, Netcraft can initiate this takedown within just hours of the initial identification. Speed is critical in regards to phishing since these sites typically collect sensitive user data quickly and result in loss of customer trust.
Real-World Application: Financial Services Case Study
The financial industry is an attractive target for cyber threats because it has valuable information about clients and is considered trustworthy by clients who are loyal to that brand. One major European bank chose Netcraft’s digital risk management technology to protect their online banking platforms. Within several weeks of beginning this program, Netcraft had identified dozens of phishing websites and malicious domains that were posing as the bank. Once identified, Netcraft used an automatic takedown protocol to quickly remove those phishing sites from operation thereby limiting the exposure of client information.
In addition to using Netcraft to identify and eliminate the phishing sites the bank began integrating the threat intelligence provided by Netcraft into its Security Operations Center (SOC). By doing so the bank was able to proactively monitor the internet for new threats and respond more efficiently when a new threat did arise. The combination of protecting the bank’s digital footprint while increasing customer loyalty through increased confidence in the banks’ brand helped establish a safe online environment.
Addressing Emerging Threats: The Dark Web and Supply Chain Risks
The increasing number of threat actors utilizing the dark web in order to purchase credentials that have been stolen from them, take advantage of weaknesses they can exploit, and/or coordinate their attacks has created a need to monitor the hidden forums where this activity occurs in order to be able to detect the potential risk prior to it occurring. The ability of Netcraft’s digital risk protection services to extend its capabilities into the dark web provides a means for Netcraft’s customers to receive alerts when mention of an asset owned by one of its customer companies appears on the dark web; if there has been a leak of login credentials associated with an asset owned by one of its customer companies; or if a plan exists to attack an asset owned by one of its customer companies. Netcraft can utilize this intelligence to enable proactive measures such as immediately resetting compromised user accounts, providing notifications to impacted end-users, etc.
Best Practices for Implementing Digital Risk Protection
The following best practices will assist businesses with maximizing the impact of their digital risk protection to strengthen their cybersecurity posture.
- Digital Risk Protection Should be Integrated into Daily Security Operations: The integration of digital risk protection into your organization’s security operations should ensure that threat intelligence is utilized in real-time, for all levels of management, to inform decisions about how to mitigate new and existing digital risks.
- High Value Assets and Brands Must be Prioritized for Protection: Organizations must prioritize the protection of high value assets (e.g., customer portal access), high-value executives (executive email accounts), and key brand names, to protect against fraudulent activity through impersonation.
- Industry Collaboration and Engagement with Regulatory Bodies and Law Enforcement Agencies: In addition to industry collaboration regarding sharing intelligence related to common systemic threats, organizations should also engage with regulatory agencies and law enforcement agencies to identify and report systemic threats.
- Best Practices Must be Continually Updated: As cyber threats evolve regularly, it is essential that organizations continually review and update their strategies to mitigate evolving cyber threats.
Looking Ahead: The Future of Digital Risk Protection
Netcraft digital risk protection offers companies the insight, intelligence, and ability to respond digitally in today’s increasingly interconnected world. With a growing threat landscape due to expanding digital ecosystems, the need for total digital risk management will continue to rise.
A total digital risk protection strategy is an investment into your company’s overall resilience and trust. With proactive intelligence, real-time monitoring, automatic response, and well-informed staff, a business can create a powerful security barrier around its operation and maintain its online reputation.
To sum it all up, with the right tools and platforms such as Netcraft, businesses have the potential to outmaneuver cyber threats; however, this will take place through a combination of vigilance, innovation and protecting what is important. See more