Cybersecurity imperatives amid Middle East unrest

As geopolitical tensions in the Middle East escalate, cybersecurity professionals are anticipating a surge in cyber attacks. Threat actors worldwide are likely to exploit the confusion, uncertainty and fear that emerges during times of conflict, employing a range of techniques including technical intrusions and social engineering. This may include an increase in denial-of-service (DDoS) attempts aimed at impacting website availability, malware targeted at critical infrastructure and humanitarian-themed social engineering.

At J.P. Morgan, the safety of your family, assets and information is a top priority. We invest in advanced technology and employ multiple layers of defense to protect data, accounts and assets. Our team is well-prepared for such eventualities, and we are closely monitoring developments in the region.

As the digital landscape becomes increasingly volatile, it is essential to remain vigilant and proactive in safeguarding personal information. Here’s what we think individuals and businesses should keep top of mind:

Best practices for individuals

Cybercriminals often use news and current events to make phishing and social engineering attacks more convincing, using sophisticated scams that incorporate urgency and emotional triggers. Staying informed about geopolitical developments that may indicate threats is crucial. Here are some key actions to stay secure:

• Be particularly careful of social engineering and scams that might seemingly come from financial institutions or trusted partners. Contact your bank directly, using known channels, to verify any requests.
• Set up alerts for online financial accounts to notify you of account changes and transactions.
• Update passwords for sensitive online accounts, ensuring they are strong, complex and unique. Do not use the same password for multiple accounts.
• Enable two-factor authentication (2FA) or multi-factor (MFA) wherever offered, especially on financial accounts, email accounts, mobile service providers and other accounts you value.
• Ensure home and office networks are secured with updated firewalls and encryption.
• Keep operating systems and antivirus software on all computers, tablets and mobile devices updated to the latest versions, as they frequently include bug fixes.

Best practices for businesses

Cyber attacks can often be prevented by implementing strong cyber controls and having a tested plan of action in place before an attack occurs. Businesses, both large and small, should consult their cybersecurity teams and IT support to ensure robust controls and tested incident/business recovery plans are in place. Here are some key steps:

• Keep your firm’s operating systems and software updated, including mobile devices that store corporate data.
• Ensure money movement processes include 2FA/MFA and require out-of-band verification for any changes to payment instructions.
• Remind employees of the increased risks associated with heightened geopolitical activities, including sophisticated scams that may include urgency and emotional triggers.
• Ensure access to systems, apps and data incorporates robust controls, including complex passwords, application-based 2FA/MFA, and least-privilege employee and admin right access.
• Evaluate your supply chain and third-party risk: Regularly assess vendors and favor those who have demonstrated rigorous vetting and testing of their own processes for vulnerabilities.
• Block traffic from high-risk countries and geographies from communicating with your network if not required.

We can help

Protecting your assets and your information is our priority. We are committed to providing safe, resilient services to our clients and partners within an ever-evolving threat landscape. For more information and resources to better secure yourself, your family and your business, please visit our Cyber & Fraud Prevention Hub and contact your J.P. Morgan team.