Page 217 - Cyber Defense eMagazine August 2024

The games are scheduled to begin July 26, 2024, with cybercriminals lurking in the shadows, armed with
malware, phishing tactics, and ransomware. Their target? The vital services of the games: retail, ticketing,
travel, and hospitality. Organizations need to stand guard over their information technology and
cybersecurity hygiene not just during the Olympic Games but daily.

The best way to stay safe in the face of these emerging threats is to remain vigilant and informed
regarding the tactics and methods of threat actors. The following are some of the threats to watch for:

1. Account Takeover and Credential Stuffing:
• With increased financial transactions during events like the Olympics, the risk of account
takeover and credential stuffing attacks escalates.
• Cybercriminals exploit weak or reused passwords to gain unauthorized access to user ac-
counts.
• Vigilance in monitoring account activity and using strong, unique passwords is crucial.

2. Social Engineering via Phishing Emails:
• Expect a surge in phishing emails related to the Olympics. These deceptive messages often
promise “promotional offers” or “special deals.”
• Unsuspecting recipients may click on malicious links, leading to compromised systems or
stolen credentials.
• Users should verify the legitimacy of emails and avoid clicking on suspicious links.

3. Ransomware and Malware Attacks:
• Cybercriminals seize major events as opportunities to sow chaos. Ransomware attacks can
disrupt critical systems, holding them hostage until a ransom is paid.
• Malware, disguised as legitimate files or software updates, can infiltrate networks and com-
promise sensitive data.
• Regular security updates, robust backups, and employee training are essential defenses.

4. Ad Fraud (Including Click Fraud):
• Ad fraud targets digital advertising networks for financial gain. One common method is click
fraud, where bots artificially inflate ad clicks.
• During high-profile events, cybercriminals exploit increased ad traffic to perpetrate fraud.
• Advertisers and platforms must implement fraud detection mechanisms to safeguard ad
budgets.

5. Malvertising:
• Malvertising injects harmful code into legitimate online ads. When users click on these com-
promised ads, they unwittingly expose themselves to risk.
• Vigilance while browsing and using ad blockers can mitigate exposure to malicious ads.
• Organizations should monitor their ad networks and promptly address any suspicious activ-
ity.

Consider how the threats mentioned earlier apply to your organization’s internal network. It’s crucial to
recognize that not all end users prioritize security but whether it’s clicking on the wrong link or an end

Cyber Defense eMagazine – August 2024 Edition 217
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