As the Internet continues to evolve, so does the dark side of the web and the threats that come with it. A rising and significant threat to small and medium-sized enterprises (SMEs) today is the Dark Web, which is often used to buy and sell stolen data.
What is the Dark Web?
Whereas the open web that we’re all familiar with is visible and searchable through search engines like Google, this is only the tip of the iceberg when you consider the layers of the Dark Web beneath it.
The dark web is a part of the internet that is hidden and inaccessible through standard search engines. With it not being indexed by search engines, it requires specific software (such as the Tor network) or configurations to access and is often associated with illegal activities, such as the sale of drugs, weapons, and stolen data. The anonymity and lack of regulation on the dark web make it an attractive platform for criminal activity.
How the Dark Web poses a threat to SMEs
Because the Dark Web provides a platform for anonymous communication and transactions, it has become a major threat to SMEs as cybercriminals use it to buy and sell stolen data, malware, and hacking tools that can be used to attack businesses. These tools can aid Distributed Denial of Service (DDoS) attacks, malware, and ransomware which can cause long-term disruptions, loss of data, and financial loss to businesses that fall victim to such attacks.
SMEs are particularly vulnerable to data breaches because they generally have fewer resources to invest in cyber security and are often unaware of the risks associated with the Dark Web, which makes them more susceptible to attacks.
One of the main threats is from the sale of stolen data and personal information. Cybercriminals can obtain sensitive data such as login credentials, credit card numbers, and personal information and then sell it on the dark web to the highest bidder. This information can then be used to commit identity theft, financial fraud, and other crimes that can harm individuals and businesses.
How the Dark Web contributes to data breaches
As the Dark Web is a marketplace for stolen data, cyber criminals who steal data such as credit card information or login credentials will often sell this information on the Dark Web to other criminals.
Some common methods include phishing scams, malware attacks, and brute force attacks. Once the data is stolen, it is often sold on the Dark Web to other cybercriminals who can use it for their own purposes, and continue its use for identity theft, fraud, and other criminal activities.
Stolen credentials and personal data are sold on the dark web for extremely low prices. These unlawfully obtained details can also be utilised for a variety of purposes, such as securing loans, credit, mortgages, and tax refunds.
The anonymity provided by the Dark Web creates a chain of cybercrime that can be difficult to trace and stop. Because companies are often unaware for an extended period before discovering that they have fallen victim to malicious acts, it can take anywhere from a few weeks to several months for them to realise that they have been compromised and address the infringement.
Take action now to protect your business data
The anonymity of the Dark Web and ability to facilitate illegal activities can lead to catastrophic consequences for businesses and their customers. If your company’s sensitive information is on the Dark Web, your company’s bank account, email, and other online accounts could be at risk.
Businesses must take proactive measures to protect their interests and minimise the threats. This includes strengthening IT security, investing in employee training, and monitoring for any suspicious activity on the Dark Web.
Don’t wait until it’s too late. Start reducing your business’ exposure to the threats that the Dark Web poses today.