Oxylabs highlights that acquiring threat intelligence data is a primary step in preventing cyberattacks

As technology progresses, data breaches continue to skyrocket and this isn’t going to slow down anytime soon. It is predicted that by the end of 2023 the cost of cybercrime is going to hit just under £6.5 trillion.

Acquiring threat intelligence data is a primary step in preventing cyberattacks, and web scraping should be the method of choice for modern data-driven businesses. This is according to Andrius Palionis, VP of Enterprise Sales at Oxylabs.

Possible attack scenarios

Threat intelligence gives businesses the tools to defend their networks and protect their data. A well-rounded cybersecurity strategy uses threat intelligence to automatically receive cyber threat data enabling organisations to prepare action plans based on possible attack scenarios.

Cyberattacks are growing in frequency, severity, and sophistication as the demand for data grows"

“Cyberattacks are growing in frequency, severity, and sophistication as the demand for data grows,” said Palionis. “Common factors leading to data breaches include engaging third-party services, network operation risks, extensive cloud migration, increased system complexity, and compliance failures. These data breaches not only damage the reputation of companies, but also cause severe financial distress.”

Mitigating cyber threats

According to a recent IBM report, the average cost of a data breach is £150 per record. With an average size of 25,575 records lost per incident, a cyberattack has the potential to cost a business £3.92 million. “This is a stark reminder that businesses of all sizes are at risk of a data breach and subsequent financial loss. As cyber criminals gain expertise and attacks become more frequent, companies risk facing serious consequences that may negatively impact customer trust.”

“Companies must invest in threat intelligence to stay ahead of criminals and keep their data safe. In addition to investing in threat intelligence, businesses must implement a multi-layered security approach to identify and mitigate cyber threats before they can cause damage. Strategies may include effective data governance and processing, careful planning, analysis, and dissemination.”

Cyber threat intelligence

Cybercriminals attempt to escape detection by identifying cybersecurity company servers"

“Quality intelligence that is current and relevant has proven to be vital to the success of cybersecurity strategies. Cyber threat intelligence targets identifies, manages and minimises cyberattacks by gathering information from across the web, including darknet forums and websites. Cybersecurity experts are adopting web scraping to obtain high-level insights and extract this important information from target websites.”

Palionis continued: “Web scraping processes involve sending data requests to the target website server, and extracting and parsing data into an easily readable format followed by detailed analysis. Cybercriminals attempt to escape detection by identifying cybersecurity company servers and blocking their IP addresses. To address this issue, datacentre and residential proxies are being used to maintain anonymity, avoid geo-location restrictions, and balance server requests to prevent bans.”

Effective data governance

“Managing threats and data processing can benefit significantly from effective data governance. By implementing key governance practices, businesses can create value, improve productivity and increase data safety.”

Palionis concluded: “Despite a sharp increase in ransomware attacks, many businesses still lack comprehensive data security. Data collection has become a daily activity even for businesses not directly involved in the industry, so understanding that data security is no longer an afterthought is essential. Threat intelligence forms the backbone of an overall strategy that gives businesses the tools to defend their networks and protect their data.”