How European telecoms defend their customers from the latest cybersecurity threats - Security Boulevard

SBN How European telecoms defend their customers from the latest cybersecurity threats

Have you seen the latest cyberthreat report?

The numbers are mind-boggling!

DevOps Experience

Our data show that Allot’s network security services blocked cyberthreats from harming European subscribers 653,996,978 times in the first half of the year.

653,996,978 times!  That averages out to more than 2,400 security incidents every minute, and that’s just among Allot-protected customers in Europe.

How are these telco service providers doing it?

Network-based security as a service

These tier-1 operators are using Allot NetworkSecure, our industry-leading network-based security as a service solution, which has achieved over 50% penetration with some service providers and is already used by over 20 million subscribers globally.

NetworkSecure is dedicated to protecting CSPs and their customers from all types of attacks including malware, ransomware, phishing, Trojans, and more.

What are the latest telecom cyber security threats?

According to the latest cyberthreat report, Flubot has been the main antagonist of consumer-focused cyberthreats in the first half of 2021. Flubot is a banker Trojan designed to exploit the increased prevalence of home delivery services. First appearing in March 2021, Flubot infiltrates with cleverly designed and localized SMS messages that perfectly mimic legitimate messages from well-established delivery brands like FedEx, DHL, and Amazon. With one fateful click, customers mistakenly allow Flubot to steal financial login and password data. It also reads contact lists and takes that information to find more victims.

However, Flubot isn’t the only telecom cyber security threat we’ve identified.

DOWNLOADERS EMERGED AS THE PREDOMINANT THREAT TO EUROPEAN CONSUMERS

  • 45% of all pre-blocks in H1 2021 were Downloaders.
  • Damage includes monetary loss and losing access to bank and financial accounts.

ADWARE COMPRISED 52% OF ALL DOWNLOAD BLOCKS

  • Adware infection is the cause of bothersome pop-up ads and can also slow browsing speed.
  • Can be as dangerous as other malware by redirecting users to infected pages containing downloaders or Phishing pages.

THE RISE OF C&CS

  • Since the appearance of Flubot, C&C (command and control) URLs have been on the rise for all types of malware.

DGA – DOMAIN GENERATION ALGORITHMS

  • Cybercriminals increasingly use domain generation algorithms to automate the high-volume, high-velocity creation of new URLs to avoid detection by antivirus solutions.

 

How bad can the damage be?

Cyberthreats are bad for consumers, but what can be done to help the businesses that rely so critically on online commerce?

Since the start of the pandemic, businesses throughout the world have shifted the majority of their transactions from personal, face-to-face interactions to online transactions.

As in-store shopping became dangerous or even impossible, the deliveries market surged. Trapped inside our homes, the bulk of commercial activity shifted to ordering online and receiving ‘no contact’ deliveries. During the first year of the pandemic, Amazon sales grew 38% (according to Amazon quarterly earnings reports). People became dependent on deliveries for everything from food and medicine to clothing, houseware, and electronic equipment. High consumer demand for deliveries continues, even during periods when in-store shopping is again available.

New habits have been formed. We’ve all now come to expect online access to commerce, education, financial, and other services.

However, cyberattacks continue to increase across the board and small businesses, in particular, are most vulnerable. SMBs are highly aware of the threats they face. However, limited budgets, lack of skills, and overburdened (or nonexistent) IT staff leave them vulnerable.

If you’d like to learn more, and hear for yourself what can be done, you’re invited to listen in to our October 26, 2021 webinar about Ensuring Business Continuity. Some of our experts will provide some specific examples of how Allot is helping CSPs to secure their SMB customers.

*** This is a Security Bloggers Network syndicated blog from Allot's Network Security & IoT Blog for CSPs & Enterprises authored by Dan Bloom. Read the original post at: https://www.allot.com/blog/european-telcoms-defend-customers-from-latest-cybersecurity-threats/