APIs are everywhere in modern day life. We rely on them to access services on mobiles, tablets and laptops. Without them our day-to-day life wouldn’t be the same. Yet they are also increasing the attack surface. Are they really a friend to e-commerce or to cybercrime?
APIs are not new. They’ve been around a long time. APIs are key to building scalable web-based applications as they allow and manage the interaction between 2 online connected services.
The EU Payment Service Directive (PSD2) aims to enhance consumer security, increase competition and create a single EU-wide market for payments. No doubt this market disruptive initiative opens the door for innovation. But will PSD2 inadvertently introduce more vulnerability for the cybercriminals to exploit?
Achieving its aims all hinges on the banks sharing their customer data with anyone that holds the required license. This third party access to accounts (XS2A) ensures that banks cannot block the move to a new payment services market.
There’s no doubt about it, cyber-attacks are increasing. A consequence of this is a rise in cybersecurity litigation. Interestingly, that litigation may not necessarily be directed against the cybercriminals. Instead, it is likely to be another threat that the breached company has to deal with.
Just as cyber-attacks are generating publicity, so too are the subsequent litigation activities. What makes them newsworthy seems to be the dollar amount.
The Internet has transformed how businesses operate today. Never before has so much been done online. The dark side to this connectivity is that the threat of cybercrime is increasing and becoming more professional. It’s no longer a case of if you will fall victim to a cyber-attack but when. Are you ready?
No business is immune
It’s not just Irdeto’s cyber-services team which is witnessing a growing concern about cyber-attack threats.
Let’s face it; if consumers don’t get what they want, they look elsewhere. Gone are the days of loyalty due to limited choice. For pay-media operators this can be like walking a tightrope: protecting their content investment without the security negatively impacting the consumer experience. What can be done to make this easier?
To find out, let’s check in again with Bob. Unsurprisingly, after being identified as the cause of the corporate disaster Bob is now unemployed. He spends most of his day catching up on the movies and TV series he missed.
The DarkNet is synonymous with the sale of drugs, weapons and fake passports. None of which are relevant to pay- media operators. What lurks in the DarkNet which would be of interest to them? And what can be done to mitigate the impact?
What are we seeing?
Irdeto has witnessed a growing demand for customer databases – supplying compromised account credentials for pay media services.
Could an innocent device like a STB, webcam or home thermostat be used by hackers to attack you? In the current world of the Internet of Things (IoT), the answer is Yes! Leading to the name Internet of Threats. But operators have the power to change this.
IoT promises connected convenience at consumer’s fingertips. From adjusting your home heating when you land back at the airport, to checking your home security remotely if the alarm goes off while you’re out. Consumers depend on their operator to be the trusted party and remove any privacy or security implications.
Cybercrime is big business. And the impact is far reaching. No organization is immune. Cable and Satellite operators with their large number of STBs could be vulnerable to attack. Can anything be done to minimize the risk?
Changing face of cybercrime
Hackers are no longer teenagers wanting to gain notoriety. Over the years, we’ve witnessed cybercrime change.