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How Secure is Your Messaging?

Updated: Feb 22

A secure messaging platform is an absolute essential for conducting business, collaborating on proprietary projects, and protecting transfer and storage of sensitive data.


A 2019 survey showed that as many as 61% of respondents believed suffering a negative business impact from an email attack was either likely or inevitable and 10% of respondents were resigned to the fact that their organizations would suffer a negative business impact from an email attack.


Research today shows email security issues to be continuing and rising trend. Attacking a messaging platform that is not secure is the easiest inroad for cybercriminal activity.



secure messaging red envelope with email symbol


Following are some of the most common intrusion methods bad actors use to access messaging platforms that are not secure:


Phishing Attacks


Phishing attacks overall have become so prevalent that it is not a matter of if an organization will face them, but when. A phishing attack is a type of cyber-attack in which perpetrators masquerade as legitimate contacts, such as reputable companies, financial institutions, or government agencies, to deceive individuals into divulging sensitive information, such as usernames, passwords, credit card account numbers, or other personally identifiable information (PII).


Typically carried out via email, instant messaging, or social media messages, which are often not secure, phishing attacks often employ persuasive language, urgent requests, or enticing offers to trick recipients into clicking on malicious links or downloading malicious attachments. Once victims unwittingly disclose their information or interact with the fraudulent content, attackers can use the information for identity theft, financial fraud, or unauthorized access to other accounts.


Phishing attacks rely on exploiting human psychology, trust, and lack of awareness, making education, vigilance, and the implementation of security measures like spam filters and user training essential in defending against them.



Business Email Compromise



Business email compromise, BEC, is a sophisticated cybercrime tactic wherein attackers infiltrate or spoof email accounts belonging to legitimate businesses or employees. Through social engineering techniques, hackers deceive recipients into taking actions that compromise sensitive information, such as wiring funds to fraudulent accounts, providing login credentials, or divulging confidential data.


BEC attacks often involve impersonating executives, suppliers, or business partners to trick employees into transferring money or sharing proprietary information. These attacks can be highly targeted and well-researched, relying on a deep understanding of the organization's hierarchy, communication patterns, and financial processes.

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BEC attacks pose significant financial and reputational risks to businesses, as they can result in substantial financial losses, data breaches, and damage to relationships with customers and partners. Vigilance, employee training, and implementing multi-factor authentication and verification processes are crucial in mitigating the risks associated with BEC attacks.



Ransomware


Ransomware is a type of malicious software designed to encrypt files or lock users out of their systems, rendering them inaccessible until a ransom is paid. Typically spread through phishing emails, other messaging programs that are not secure, malicious websites, or vulnerable software, ransomware encrypts data using strong encryption algorithms, making it impossible to access without the decryption key held by the attacker.


Once infected, victims are presented with a ransom demand, usually in the form of a message or pop-up, demanding payment in cryptocurrency in exchange for the decryption key. Ransomware attacks can have devastating consequences, causing financial losses, data breaches, and operational disruptions for businesses, organizations, and individuals.


And despite payment of ransom, there is no guarantee that victims will ever regain access to their files, as paying the ransom can incentivize further criminal activity. Preventative measures such as regular data backups, security updates, and employee training are essential in mitigating the risks posed by ransomware attacks.


But the best deterrent is to implement a secure messaging system that effectively mitigates the activities of ransomware opportunists.



Gold Comet's Secure Messaging

One of the core features of Gold Comet's multi-patented and quantum integrated data storage platform is our secure messaging system. Our platform incorporates a whitelisting which only permits communication access to specifically identified entities. Our secure messaging feature plays a key role in assisting the transfer of stored and shared data, as well as providing a secure means of communication between collaborators using our system. All messages and data management activities are housed within our secure cloud environment, making communications impenetrable.

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