• Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
Close Search
00
GBAF LogoGBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
GBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Technology

    Posted By Jessica Weisman-Pitts

    Posted on November 30, 2021

    Featured image for article about Technology

    By Guido Grillenmeier, Chief Technologist, Semperis 

    Attackers will find routes into the cloud that start on your on-premises server 

    On-premises Active Directory (AD), Windows’ directory service, remains a wide open weak spot in most companies. As the core of Windows operating systems, AD manages user permissions and holds the key to numerous business-critical processes and services – but its default configuration makes it an easy target. While businesses are increasingly shifting workloads from on premises to the cloud, AD remains a foundational piece of infrastructure for both environments for 90% of organisations, and it’s not going anywhere anytime soon. Cybercriminals know this and are increasingly using AD weaknesses as an inroad for attacks against data and applications in the cloud, thus bypassing classic cloud protection systems.

    Attackers will increasingly target identity systems 

    As the recent Facebook outage showed, when core identity providers go down, those applications that depend on them for user authentication are affected too. The more users rely on shared infrastructure, the more impactful outages will be. This makes large identity providers a perfect target for hackers. For the fast-growing number of businesses around the world that depend on the Microsoft Azure cloud, Azure AD acts as a major identity provider, authenticating countless users every minute. Hackers compromising Azure AD could therefore take out several apps at once and do damage on a large scale.

    Zero trust will become the default in many organisations 

    With hybrid workspaces here to stay, organisations need to ensure safe identity management in the cloud. More businesses will adopt zero-trust authentication and access models as the necessity for the protection of cloud identities increases.

    Sophisticated ransomware attacks will come from unsophisticated attackers 

    Sophisticated ransomware attacks are no longer the preserve of nation states. In 2022, anybody can access the tools to carry them out. Ransomware-as-a-service is another way that unskilled actors are getting the job done—by contracting out to groups like LockBit 2.0 to do the dirty work. As attackers seek to make maximum profit, campaigns that steal and threaten to reveal information gain popularity. Once data has been extorted, attackers may then come back asking for regular payments.

    The ransomware crisis will reach fever pitch before governments take significant action – fuelled by the fact that there is no shortage in vulnerable systems that can be attacked. What’s worse, any remaining morality filter has been removed. Attackers no longer care about the physical impact they cause, for example by attacking critical infrastructure and hospitals where lives could be at risk. As a result, critical everyday services could become unavailable, prices could go up and we could find ransomware affecting our daily lives.

    A rise in intellectual property theft 

    Large companies will have a hard time protecting their intellectual property against digital espionage. Businesses are having to manage increasingly complex IT systems with the same or fewer staff, and are finding it difficult to fill highly skilled security positions. Cybercriminals will continue to find easy ways into an organisation by attacking a smaller or newer company higher up the supply chain that hasn’t got strong cyber defences in place, so there is no doubt that we will see more supply chain attacks in the new year. We may see bad actors deploying artificial intelligence as they have the money and resources to do so.

    By Guido Grillenmeier, Chief Technologist, Semperis 

    Attackers will find routes into the cloud that start on your on-premises server 

    On-premises Active Directory (AD), Windows’ directory service, remains a wide open weak spot in most companies. As the core of Windows operating systems, AD manages user permissions and holds the key to numerous business-critical processes and services – but its default configuration makes it an easy target. While businesses are increasingly shifting workloads from on premises to the cloud, AD remains a foundational piece of infrastructure for both environments for 90% of organisations, and it’s not going anywhere anytime soon. Cybercriminals know this and are increasingly using AD weaknesses as an inroad for attacks against data and applications in the cloud, thus bypassing classic cloud protection systems.

    Attackers will increasingly target identity systems 

    As the recent Facebook outage showed, when core identity providers go down, those applications that depend on them for user authentication are affected too. The more users rely on shared infrastructure, the more impactful outages will be. This makes large identity providers a perfect target for hackers. For the fast-growing number of businesses around the world that depend on the Microsoft Azure cloud, Azure AD acts as a major identity provider, authenticating countless users every minute. Hackers compromising Azure AD could therefore take out several apps at once and do damage on a large scale.

    Zero trust will become the default in many organisations 

    With hybrid workspaces here to stay, organisations need to ensure safe identity management in the cloud. More businesses will adopt zero-trust authentication and access models as the necessity for the protection of cloud identities increases.

    Sophisticated ransomware attacks will come from unsophisticated attackers 

    Sophisticated ransomware attacks are no longer the preserve of nation states. In 2022, anybody can access the tools to carry them out. Ransomware-as-a-service is another way that unskilled actors are getting the job done—by contracting out to groups like LockBit 2.0 to do the dirty work. As attackers seek to make maximum profit, campaigns that steal and threaten to reveal information gain popularity. Once data has been extorted, attackers may then come back asking for regular payments.

    The ransomware crisis will reach fever pitch before governments take significant action – fuelled by the fact that there is no shortage in vulnerable systems that can be attacked. What’s worse, any remaining morality filter has been removed. Attackers no longer care about the physical impact they cause, for example by attacking critical infrastructure and hospitals where lives could be at risk. As a result, critical everyday services could become unavailable, prices could go up and we could find ransomware affecting our daily lives.

    A rise in intellectual property theft 

    Large companies will have a hard time protecting their intellectual property against digital espionage. Businesses are having to manage increasingly complex IT systems with the same or fewer staff, and are finding it difficult to fill highly skilled security positions. Cybercriminals will continue to find easy ways into an organisation by attacking a smaller or newer company higher up the supply chain that hasn’t got strong cyber defences in place, so there is no doubt that we will see more supply chain attacks in the new year. We may see bad actors deploying artificial intelligence as they have the money and resources to do so.

    Recommended for you

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe