Tackling Cyber Threats faced by MSMEs
Introduction
MSMEs, being the cornerstone of the Indian economy, are one of the most vulnerable targets in cyberspace and no enterprise is too small to be a target for malicious actors. MSMEs hardly ever perform a cyber-risk assessment, but when they do, they may run into a number of internal problems, such as cyberattacks brought on by inadequate networking security, online fraud, ransomware assaults, etc. Tackling cyber threats in MSMEs is critical mainly because of their high level of dependance on digital technologies and the growing sophistication of cyber attacks. Protecting them from cyber threats is essential, as a security breach can have devastating consequences, including financial loss, reputational damage, and operational disruptions.
Key Cyber Threats that MSMEs are facing
MSMEs are most vulnerable to are phishing attacks, ransomware, malware and viruses, insider threats, social engineering attacks, supply chain attacks, credential stuffing and brute force attacks and Distributed Denial of Service (DDoS) Attacks. Some of these attacks are described as under-
- Insider threats arise from employees or contractors who intentionally or unintentionally compromise security. It involves data theft, misuse of access privileges, or accidental data exposure.
- Social engineering attacks involve manipulating individuals into divulging confidential information or performing actions that compromise security by pretexting, baiting, and impersonation.
- Supply chain attacks exploit the trust in relationships between businesses and their suppliers and introduce malware, compromise data integrity, and disrupt operations.
- Credential stuffing and brute force attacks give unauthorized access to accounts and systems, leading to data breaches and financial losses.
Challenges Faced by MSMEs in Cybersecurity
The challenges faced by MSMEs in cyber security are mainly due to limited resources and budget constraints which leads to other issues such as a lack of specialized expertise as MSMEs often lack the IT support of cyber security experts. Awareness and training are needed to mitigate poor understanding of cyber threats and their complexity in nature. Vulnerabilities in the supply chain are present as they rely on third-party vendors and partners often, introducing potential supply chain vulnerabilities. Regulatory compliance is often complex and is taken seriously only when an issue crops up but it needs special attention especially with the DPDP Act coming in. The lack of an incident response plan leads to delayed and inadequate responses to cyber incidents, increasing the impact of breaches.
Best Practices for Tackling Cyber Threats for MSMEs
To effectively tackle cyber threats, MSMEs should adopt a comprehensive approach such as:
- Implementing and enforcing strong access controls by using MFA or 2FA and password policies. Limiting employee access as role based and updating the same as and when needed.
- Regularly apply security patches and use automated patch management solutions to prevent exploitation of known vulnerabilities.
- Conduct employee training and awareness programs and promote a security-first approach for the employees and assessing employee readiness to identify improvement areas.
- Implement network security measures by using firewalls and intrusion detection systems. Using secure Wi-Fi networks via strong encryptions and changing default credentials for the router are recommended, as is segmenting networks to limit lateral movement within the network in case of a breach.
- Regular data backup ensures that in case of an attack, data loss can be recovered and made available in secure offsite locations to protect it from unauthorized access.
- Developing an incident response plan that outlines the roles, responsibilities and procedure for responding to cyber incidents with regular drills to ensure readiness and clear communication protocols for incident reporting to regulators, stakeholders and customers.
- Implement endpoint security solutions using antivirus and anti-malware softwares. Devices should be against unauthorized access and implement mobile device management solutions enforcing security policies on employee-owned devices used for work purposes.
- Cyber insurance coverage will help in transferring financial risks in case of cyber incidents. It should have comprehensive coverage including business interruptions, data restoration, legal liabilities and incident response costs.
Recommended Cybersecurity Solutions Tailored for MSMEs
- A Managed Security Service Provider offers outsourced cybersecurity services, including threat monitoring, incident response, and vulnerability management that may be lacking in-house.
- Cloud-Based Security Solutions such as firewall as a service and Security Information and Event Management , provide scalable and cost-effective protection for MSMEs.
- Endpoint Detection and Response (EDR) Tools detect and respond to threats on endpoints, providing real-time visibility into potential threats and automating incident response actions.
- Security Awareness Training Platforms deliver interactive training sessions and simulations to educate employees about cybersecurity threats and best practices.
Conclusion
Addressing cyber threats in MSMEs requires a proactive and multi-layered approach that encompasses technical solutions, employee training, and strategic planning. By implementing best practices and leveraging cybersecurity solutions tailored to their specific needs, MSMEs can significantly enhance their resilience against cyber threats. As cyber threats continue to evolve, staying informed about the latest trends and adopting a culture of security awareness will be essential for MSMEs to protect their assets, reputation, and bottom line.
References:
- https://economictimes.indiatimes.com/small-biz/security-tech/security/cyber-security-pitfalls-and-how-negligence-can-be-expensive-for-msmes/articleshow/99508822.cms?from=mdr
- https://www.investopedia.com/financial-edge/0112/3-ways-cyber-crime-impacts-business.aspx
- https://www.financialexpress.com/business/sme-msme-tech-cisco-launches-new-tool-for-smbs-to-assess-their-cybersecurity-readiness-2538348/
- https://www.cloverinfotech.com/blog/small-businesses-big-problems-are-cyber-attacks-crushing-indias-msmes/
Related Blogs
Introduction
In today's relentless current of information, where social media is oftentimes both the stage and the playwright, the line between reality and spectacle can become distressingly blurry. In such a virtual Pantheon, the conflation of truth and fiction has recently surfaced in a particularly contentious instance. The central figure is Poonam Pandey, an entertainment personality known for transgressing traditional contours of celebrity boldness. Pandey found herself ensnared in a narrative of her own orchestration—a grim hoax purporting she had succumbed to cervical cancer. This deceptive foray, rather than awakening public consciousness as intended, spiralled into an ominous fable about the malignant spread of misinformation and the profound moral dilemmas it engenders.
The Deception
The tapestry of this event was woven with threads of tragedy and deception, framing Pandey both as the tragic hero and the ill-fated architect of a spectacle that unfolded with a haunting familiarity evocative of ancient Greek dramas. The monumental pillar of social media, on what seemed to be an ordinary day, was shattered by the startling declaration of Pandey's untimely passing. The statement, as bereft of nuance as it was devastating, proclaimed: 'We are deeply grieved to announce the loss of our cherished Poonam to cervical cancer.' The emotional pulse of the Indian Film Industry was jolted; waves of homage inundated the digital space, each tribute a poignant echo of the shock that rippled through her fanbase. Yet the crux of the matter had yet to be unveiled.
As the world grappled with this news, the scenario took an unforeseen detour. Poonam Pandey made a re-entrance onto the world stage, alive, revealing her alleged demise to be nothing more than a macabre masquerade. The public's reaction to this revelation was a stratified symphony of emotions—indignation mingled with disbelief, with an underlying crescendo of betrayal. Pandey's defense postured her act as a last resort to draw attention to the silent yet pervasive threat of cervical cancer. In the ensuing mire of reactions, an inescapable quandary emerged: is it ever permissible to employ deceit for the sake of presumed publicity?
The Chaos
Satyajeet Tambe, an esteemed Maharashtra legislator, emerged amidst the churning chaos as a paragon of principled reason. Advocating that such mendacious stunts, playing the chords of public emotion and adulterating truth, should be met with legal repercussions, Tambe called for judicious action against Pandey. His imploration resonated with the necessity of integrity in the public domain, stating, 'The announcement of an influencer/model succumbing to cervical cancer should not be wielded as a tool for awareness.' His pronouncement sent reverberations through the collective conscience, echoing the need for accountability in the face of such transgressions.
Repercussion
The All Indian Cine Workers Association, a custodian of the film industry's values, also voiced its reproach. They urged for an FIR to be lodged against Poonam Pandey, underlining their sentiments with disappointment and a keen sense of betrayal. Within their condemnation lay a profound recognition of the elevated emotional investment inherent in their industry—an industry where the reverence for life and the abhorrence of deceit intertwine, making the cultivation of such lowly stunts anathema.
This spectacle, while unique in the temerity of its execution, mirrors the broader pathological wave of misinformation that corrodes the foundations of our digital era: the malady of fake news. When delineated, fake news finds its essence as information chiselled specifically to deceive, a form of communication that is not merely slanted but entirely devoid of authenticity, manufactured with nefarious intent. A protean adversary, fake news adeptly masquerades as trustworthy news, ensnaring the unsuspecting in its tendrils. Its purveyors span a spectrum—from shadowy figures to ostensibly benign social media accounts—all contributing to a dystopian fabric where truth is persistently imperilled.
The conjurers of these illusions are, in a sense, cunning illusionists ensconced behind curtains of anonymity or masquerading under a cloak of transparency. They craft elaborate illusions devoid of truth, but dripping with sufficient plausibility to ensnare those who yearn for simplicity in an increasingly complex world. Destabilizing forces, such as hyper partisan media outlets, regurgitate a concoction of concocted 'facts' and distortions, deliberately smudging the once-clear line between empirical truth and partisan fabrication.
The Aftermath
The Poonam Pandey episode stands as a harrowing beacon of the ethical abyss we face. It compels us to confront the irony of utilising falsity to raise awareness for laudable causes and considers the ramifications for public figures influencing the dissemination of information. The tempest around this event demonstrates the potent gravitational pull of information and the overarching need for the conscientious stewardship of its power.
Yet, as we sail through the murky waters of the digital expanse, where the allure of sensationalism and clickbait headlines is ever-present, our vigilance must not wane. The imperative of truth cannot come at the altar of awareness or sensationalism. The sanctity of fact anchors our understanding of reality; devoid of it, we are adrift in an ocean of confusion and misinformation.
In the dust settled after the Poonam Pandey debacle, the contours of a new discourse have emerged, harboring vital interrogations. How do we balance the drive for poignant awareness initiatives against the cardinal principle of truth? What mechanisms can ensure that health campaigns and their noble aspirations are not tainted by the allure of deception? Addressing these queries is not a solitary task for policymakers or influencers but, indeed, a collective societal responsibility that will define our cultural ethics and the legacy we wish to preserve.
Conclusion
As we contemplate the broader implications of this incident, let us not allow its sensational nature to eclipse the very real and pressing issue of cervical cancer—a condition that, beyond the glare of controversy, continues to shadow lives with its lethal silence. Instead, let our focus pivot towards tangible, truth-driven efforts aimed at education and empowerment. Truth, after all, is the beacon that dispels the murky shadows of ignorance and guides us toward enlightenment and healing.
References
- https://www.hindustantimes.com/india-news/poonam-pandey-in-trouble-as-maharashtra-politician-seeks-case-for-faking-her-death-101707005742992.html
- https://www.nagpurtoday.in/state-mlc-tambe-demands-police-action-against-poonam-pandey-for-faking-her-death/02051417
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Executive Summary:
A viral image circulating on social media claims to show a Hindu Sadhvi marrying a Muslim man; however, this claim is false. A thorough investigation by the Cyberpeace Research team found that the image has been digitally manipulated. The original photo, which was posted by Balmukund Acharya, a BJP MLA from Jaipur, on his official Facebook account in December 2023, he was posing with a Muslim man in his election office. The man wearing the Muslim skullcap is featured in several other photos on Acharya's Instagram account, where he expressed gratitude for the support from the Muslim community. Thus, the claimed image of a marriage between a Hindu Sadhvi and a Muslim man is digitally altered.
Claims:
An image circulating on social media claims to show a Hindu Sadhvi marrying a Muslim man.
Fact Check:
Upon receiving the posts, we reverse searched the image to find any credible sources. We found a photo posted by Balmukund Acharya Hathoj Dham on his facebook page on 6 December 2023.
This photo is digitally altered and posted on social media to mislead. We also found several different photos with the skullcap man where he was featured.
We also checked for any AI fabrication in the viral image. We checked using a detection tool named, “content@scale” AI Image detection. This tool found the image to be 95% AI Manipulated.
We also checked with another detection tool for further validation named, “isitai” image detection tool. It found the image to be 38.50% of AI content, which concludes to the fact that the image is manipulated and doesn’t support the claim made. Hence, the viral image is fake and misleading.
Conclusion:
The lack of credible source and the detection of AI manipulation in the image explains that the viral image claiming to show a Hindu Sadhvi marrying a Muslim man is false. It has been digitally altered. The original image features BJP MLA Balmukund Acharya posing with a Muslim man, and there is no evidence of the claimed marriage.
- Claim: An image circulating on social media claims to show a Hindu Sadhvi marrying a Muslim man.
- Claimed on: X (Formerly known as Twitter)
- Fact Check: Fake & Misleading
Executive Summary:
A photographer breaking down in tears in a viral photo is not connected to the Ram Mandir opening. Social media users are sharing a collage of images of the recently dedicated Lord Ram idol at the Ayodhya Ram Mandir, along with a claimed shot of the photographer crying at the sight of the deity. A Facebook post that posts this video says, "Even the cameraman couldn't stop his emotions." The CyberPeace Research team found that the event happened during the AFC Asian Cup football match in 2019. During a match between Iraq and Qatar, an Iraqi photographer started crying since Iraq had lost and was out of the competition.
Claims:
The photographer in the widely shared images broke down in tears at seeing the icon of Lord Ram during the Ayodhya Ram Mandir's consecration. The Collage was also shared by many users in other Social Media like X, Reddit, Facebook. An Facebook user shared and the Caption of the Post reads,
Fact Check:
CyberPeace Research team reverse image searched the Photographer, and it landed to several memes from where the picture was taken, from there we landed to a Pinterest Post where it reads, “An Iraqi photographer as his team is knocked out of the Asian Cup of Nations”
Taking an indication from this we did some keyword search and tried to find the actual news behind this Image. We landed at the official Asian Cup X (formerly Twitter) handle where the image was shared 5 years ago on 24 Jan, 2019. The Post reads, “Passionate. Emotional moment for an Iraqi photographer during the Round of 16 clash against ! #AsianCup2019”
We are now confirmed about the News and the origin of this image. To be noted that while we were investigating the Fact Check we also found several other Misinformation news with the Same photographer image and different Post Captions which was all a Misinformation like this one.
Conclusion:
The recent Viral Image of the Photographer claiming to be associated with Ram Mandir Opening is Misleading, the Image of the Photographer was a 5 years old image where the Iraqi Photographer was seen Crying during the Asian Cup Football Competition but not of recent Ram Mandir Opening. Netizens are advised not to believe and share such misinformation posts around Social Media.
- Claim: A person in the widely shared images broke down in tears at seeing the icon of Lord Ram during the Ayodhya Ram Mandir's consecration.
- Claimed on: Facebook, X, Reddit
- Fact Check: Fake
