Five Cybersecurity Threats Impacting Business Today
In today’s digital world, many of us have become all too familiar with the risks of going online. However, it’s the businesses of today that are generally dealing with the highest level of cybercrime. Companies specialising in online security, such as McAfee, have reported extensive financial damage for businesses worldwide, reaching record numbers in 2020.
While the battle for cybersecurity continues, for the average person and business owner, it’s worth being aware of what to look out for.
Ransomware attacks are an alarming and growing trend in cybercrime. They usually come in the form of a specialised malware that infects a computer network, and then locks up important information from the owner and business. The attackers can then demand an exorbitant ransom for unlocking and giving back the information.
Though most current devices and systems have been updated to provide ransomware protection, the changing nature of online technology, and the ingenuity of cyber criminals, has made progress increasingly difficult.
Even more alarming is the growing popularity of ransomware-as-a-service (RaaS), where successful attackers are now selling their knowledge and expertise to others for a price.
- Tool Sprawl Within Enterprise Security
Another notable cybersecurity threat affecting businesses nowadays is one that doesn’t come from outside, but from within. “Tool sprawl” refers to when the collection of online tools used by a business or enterprise, builds up over time to become inefficient and mis-managed. This is something that is becoming a serious issue when it comes to cybersecurity, leaving many potential vulnerabilities for cyber criminals to exploit.
- Misused Automation
Tools that automate things like workflows and system operations can be incredibly useful for businesses. However, when implemented on scales that they were not designed for, are not configured correctly in terms of security, or perhaps are simply outdated, they can also lead to security risks. A growing number of automation-related incidents is now causing many companies to re-assess their use of it.
- Phishing Becomes Spear-Phishing
A new, and more direct and personal form of phishing, coined “spear-phishing” has become more prominent, targeting personal and professional inboxes alike. Experts believe that “phishers”, cyber criminals that attempt to bait people into scams with fake emails, messages, and advertising, are having far greater success in both gathering useful personal information, as well as finding victims, thanks to social media.
- Increase In Online Identity Theft
Updated malware protection will generally protect a person or business from most online attacks. However, when it comes to incidents of fraudulent account-use, it is up to the individual and business owner to ensure that they use strong and unique passwords for all their accounts, whether email or for a live casino online. Although new methods, such as two step-verification, are helping greatly with account fraud, until better authentication methods are instated all-round, this will likely continue to be an ongoing issue.
An Unfortunate Parallel With Tech
With a list of concerns that is ever-growing, so is the rapid progress of technology, and the potential to use it in new unethical ways. Tech companies and online security firms are hard at work on the issues though, hopefully bringing us closer to greater online security and peace of mind.