During 2022, the growth of cybercrime in Colombia saw an increase of 11,223 cases compared to 2021.
According to a study by Gartner, more than 90% of ransomware attacks can be prevented.
According to the same study, telcos should invest between 4% and 7% of their IT budgets in security.
Cyber attacks increased their occurrence during the year 2022 all over the world. According to the report presented by the Cybernetic Center of the National Police, the growth of cybercrime in Colombia during 2022 saw an increase of 11,223 cases compared to 2021.[1]Because there is a monetization of attacks through extortion and electronic extortion.
According to the same report, more than 54,000 complaints were registered between January and October 2022.[2]. Lack of awareness regarding data protection means that companies are increasingly vulnerable to cyberattacks, particularly on tasks that are performed remotely. Every company’s investment plan should include a part of the budget aimed at digital security.
The telecom sector is one of the main parties to cyber threats due to the risks posed by different operating systems and the fact that they require a much broader protection infrastructure. During 2022, it was recorded that one of the most affected sectors in the country is the telecommunications sector, which is the main responsible for data management.[3] According to a Cyberedge Group study, this sector is affected at a rate of 79.1%. The lack of a secured system makes it easier for cybercriminals to gain access to corporate networks, paralyzing the entire process and causing huge losses to organizations. In addition, you put all of your customers’ privacy at risk.
Today’s corporate success boils down to the holy trinity: cloud, data, and security. This is why organizations must invest in solutions that prevent, secure, and combat these types of information security threats. [4]
“Telecom companies and in general all companies should invest an estimated 4% to 7% of their IT budgets in security. According to Gartner studies, this assessment is made based on the state of the companies. That is, to a greater or lesser extent, if They had solid systems or if, on the contrary, they were in danger. Camilo Suarez, Director of Technology for Colombia and Ecuador at Logicalis.
Cybercrime trends
There are different types of attack scenarios that can affect the telecom sector: Ransomware, Malware, Phishing, DDos Attack,[5] Among other things lead to infection of devices, and denial of service that can be prevented by organizations with constant monitoring and control. In fact, one Gartner study on Ransomware found that more than 90% of attacks of this type can be prevented. [6]
Ransomware is one of the most mentioned cyber attacks recently, and it consists of blocking access to files, applications, and/or systems until a sum of money is paid for the data ransom, threatening to publish or remove the data. [7] Colcert defined this act of vandalism as “information hijacking”.
Malware is malicious software that seeks to take control of a specific device in order to access all data and perform various operations without the permission of the owner. he phishingtranslates to stealing credentials allowing an inside attack on the organization or individual. [8] On the other hand, DDos Attack prevents full use of the system.
Recommendations for telecom companies
Returning to some recommendations shared by the Cybernetic Center of the National Police and COLCERT of the Ministry of Information Technology to prepare and mitigate the risks of this type of cybercrime, companies must have[9]:
1. Education and awareness in the field of digital security for its collaborators.
2. Backups and backup data.
3. Security updates and patches.
4. Disaster recovery plans.
Similarly, the Threat Intelligence team at Logicalis shares some recommendations for preventing computer attacks and minimizing their impact, such as:
• Carry out vulnerability management activities.
• Conduct incident management and response operations.
• Perform event detection and correlation. Execute threat intelligence and threat searches.
• Be aware of cyber security bulletins and reports about new cyber threats worldwide.
• Check for potential malicious activities and behaviors.
• Carry out appropriate account management, access control, and identities.
• Implementation of multi-factor authentication mechanisms.[10]
[1] CCIT. More than 54,000 complaints of cybercrime were registered at the end of the third quarter of 2022. https://www.ccit.org.co/noticias/crecieron-28-las-denuncias-de-ciberataques-a-redes-de-tecomunicaciones /
[2] CCIT. More than 54,000 complaints of cybercrime were registered at the end of the third quarter of 2022. Available: https://www.ccit.org.co/noticias/crecieron-28-las-denuncias-de-ciberataques-a-redes-de – Telecom /
[3] Cyberedge group. 2022 Cyber Threat Defense Report.
[4] Logic. Holy Trinity in Effective Digital Workplaces? Cloud, data and security. Available at: https://insights.logicalis.com/latam/la-sagrada-trinidad-en-lugares-de-trabajo-digitales-eficaces-nube-datos-y-seguridad
[5] CCIT. Report on trends in cybercrime in Colombia (2019-2022). Available at: https://caivirtual.policia.gov.co/sites/default/files/tendencias_cibercrimen_colombia_2019_-_2020_0.pdf
[6] Gartner. 5 Ransomware and Cybersecurity Articles You Must Read. Available at: https://www.gartner.es/es/articulos/articulos-sobre-ransomware-y-ciberseguridad-que-debes-leer
[7] Logic. Ransomware, a lurking threat. Available at: https://insights.logicalis.com/latam/ransomware-una-amenaza-latente
[8] Logic. The war that is also being fought in cyberspace. Available at: https://insights.logicalis.com/latam/la-guerra-que-tambi%C3%A9n-se-libra-en-el-ciberespacio
[9] Colcert. Warning Bulletin, Security, Ransomware Recommendations. Available at: https://www.colcert.gov.co/800/articles-273471_Dcoumento_1.pdf
[10] Logic. The war that is also being fought in cyberspace. Available at: https://insights.logicalis.com/latam/la-guerra-que-tambi%C3%A9n-se-libra-en-el-ciberespacio