As of 2021, a cyberattack is made every 39 seconds on the internet, accounting for approximately 2,244 occurrences daily. Moreover, as businesses continue to integrate novel technologies, cybercriminals are also coming up with new ways to intercept confidential data.
The primary reason for increased security risks is neglect and the failure to monitor and safeguard the company’s networks, especially with implementing the remote work model. Therefore, it has become integral for companies to stay alert and take measures to prevent an encounter with ever-evolving cyber threats.
Businesses need to have clear strategies to circumvent the latest cyber threats. Moreover, as cybercrime becomes more sophisticated, organizations need to upgrade their security to stay ahead of threats before they get inundated by financial and reputational losses.
Let’s take a look at the evolving cybersecurity threats and how you can overcome them.
Recent Cyber Attack Trends to Avoid
Cybercrime has also progressed over the years. Just this year, hackers have infiltrated critical infrastructures, including government, healthcare, and financial sectors. Let’s take a look at some of the most prevalent threats.
Human-Operated Ransomware
Ransomware is malware that demands businesses to pay a ransom to regain access to their confidential data. The hacker infiltrates the company’s network or system and prevents users from accessing files by either blocking access or encrypting the data. The user is only granted access if they pay the ransom amount. This usually happens in cryptocurrency to safeguard the anonymity of the attacker.
The attack is made by either an individual or a group of attackers, called ransomware as a service (RaaS). In the case of Raas, a threat actor deploys the malware to give access to another actor. Ransomware attacks can cost organizations thousands of dollars in ransom as well as reputational damage.
With ransomware, attackers can not only gain access to your business’s confidential data, but they can also delete, sell, or corrupt the files, even after the ransom is paid.
This type of attack takes place due to credential stealing, insecure network, or phishing. The best way to prevent ransomware attacks is to remain proactive and make it difficult for hackers to access your company’s networks.
Phishing Attacks
Phishing can be detrimental for an organization, as it can lead to identity theft, tax fraud, and other such problems.
These attacks happen when a fraudulent website presents legitimate login pages to steal user credentials. As of January 2021, Google has calculated around 2,145,013 phishing sites, making it one of the most common types of cyberattacks. Email links are among the most common sources of phishing attacks. However, cybercriminals are coming up with new techniques and tools to steal user data.
Malware
Malware attacks are also becoming more common. According to Microsoft 365 Defender Threat Intelligence, technological progress has contributed to a diverse range of attacks, including ransomware, data exfiltration, credential theft, and espionage.
The web shell enables attackers to run commands and access user data from a web server. Moreover, another recent trend is malware that renames or injects payloads to mirror system processes and collect data from browser caches. Malware attacks cost businesses thousands in data recovery and reputational losses.
What’s Involved in A Cybersecurity Strategy
Considering the recent trends, the increasing threats, such as ransomware, phishing attacks, and malware, among others, have made it mandatory for businesses to take measures to protect themselves.
Here are some steps you can take to boost security in your workplace systems:
Enable Multi-Factor Authentication
You can upgrade cloud security using multi-factor authentication (MFA). MFA reduces the likelihood of unauthorized access to your firm’s confidential data by obligating employees to complete multiple authentication protocols to gain access.
Build An Information Security Team
Digital transformation only invites security risks if you’re not prepared to deal with threats. Therefore, it is integral to have a team of information security experts who can take the necessary precautions to prevent cyber-attacks.
Consult With Experts
As stated earlier, you need to account for cybersecurity in your digital transformation strategy. For instance, you can consult with the experienced advisors at Definity First to integrate a robust security plan into your digital transformation.
Businesses need to undergo digital transformations to survive in the post-pandemic world. Although the process takes time, it is crucial to create an elaborative plan for cyber protection. You can partner up with the trusted professionals at Definity First to build a strong security plan for your business. Moreover, our strategic advisors will collaborate with you to offer tailored business automation and security services.
