Cybersecurity is a top concern for today’s business owners and technology leaders, and for good reason. In the first half of 2020 alone, 36 billion records were exposed due to a data breach, according to a report produced by Risk-Based Security. Hackers are aware of common vulnerabilities plaguing businesses and organizations, keeping cybersecurity professionals on the alert. As access to cyberspace increases thanks to technological innovations, so does the number of cybersecurity issues that organizations can face.
Organizations and cyber attacks
Cybersecurity attacks can affect any organization at any time. In 2020, established organizations like Marriott, MGM Resorts, Twitter, and Magellan Health are all victims of cyberattacks. However, the pirates didn’t just attack heavyweights. According to Verizon Business’s 2020 Data Breach Investigations Report, more than one in four data breaches involve small businesses.
These attacks can be expensive. A 2019 report from Hiscox shows that the average cost of a cyber attack is around $200,000. This economic impact has created great concern, especially among small business owners. A survey by the American Small Business Association found that 88% of small businesses believe their businesses are vulnerable to cyberattacks.
Preventing these attacks is very important financially. There are a number of different cybersecurity issues to be aware of in today’s business landscape – problems that only a seasoned cybersecurity professional can help prevent.
Social engineering
Social engineering represents an easy to understand term for various tactics used by hackers. These tactics are designed to trick individuals into revealing sensitive or confidential information. Usually, these types of attacks appear as phishing. According to security software company Digital Guardian, phishing accounts for 91% of social engineering attacks.
Phishing attacks are based on emails designed to look like they came from a legitimate source, such as a company, bank, or government agency. When recipients click a link or open a file in an email, they expose their network to malware. Practices have become more sophisticated over the years, making it imperative for employers to train their employees to understand what these attacks might look like and how to avoid falling prey to scams. their lies.
Ransomware
Ransomware is another tactic used by hackers. The goal is to hold corporate data hostage until affected users pay a specific amount, which can often be high. These attacks can use email to penetrate the system, but can also be launched by visiting an infected website, clicking on online ads that contain malicious code, or by exploiting vulnerabilities. network hole. Containment requires a combination of staff training to exercise reasonable caution about the websites they visit and stay diligent in identifying and remediating system vulnerabilities. Cloud Computing Issues
The amount of valuable information that resides across multiple data sources has grown exponentially since the early days of computing. The likelihood of organizations of all sizes experiencing a data breach increases as the number of devices storing confidential data increases. Cloud storage and the Internet of Things (IoT) have revealed new vulnerabilities. Organizations and businesses need to develop security plans that take into account new security threats, rather than just protecting corporate computers and mobile devices.
Distributed Denial of Service (DDoS)
The hallmark of these attacks is coordination. A cyber-attacker floods the system with a large number of concurrent functions, such as requests to a web page. The goal is to overwhelm networks, systems, or devices. This could eventually expose vulnerabilities that cyber attackers can exploit. Like other forms of cyber attacks, the sophistication of this method has increased as technology evolves, making it important for organizations to stay up to date with the latest innovations to protect against these attacks. there.
