2017 was pretty rough when it comes to cybercrimes. Experts predict that 2018 may be even worse. Cyber-attacks are becoming more advanced and sophisticated as the years go by, and prove to be devastating for some businesses.
This is why it is important for businesses to educate themselves about threats that have higher risk this year and what safety measures are required in order to deal with them.
Increase in Ransomware
Ransomware is the easiest way for hackers to earn some quick cash and is expected to be on the rise in 2018. This is mainly due to the fact that majority of the companies use outdated legacy systems that are easier to hack into.
New methods and programs for ransomware are being developed everyday which many security products aren’t able to detect. These ransomwares do not run on files, but on legitimate programs, like Microsoft Word, by using specific codes and aren’t detected by an antivirus program.
Solution: the best thing that companies can do is to backup all their data into cloud storage and external devices that are patched.
IBM’s 2016 Cyber Security Intelligence Index revealed that almost 60% of the cyber-attacks were carried out by insiders. The more surprising fact is that 75% of those attacks were conducted with malicious intentions, and only 25% were a mistake.
While companies are more focused on protecting themselves from external threats, their biggest risk is from their own employees. HBR predicts that the insider threats are likely to increase even more.
Solution: all companies should have employee monitoring software to know which policies are being violated and what breaches are occurring from the side of the employees. Positive employee behaviour with regards to information security should also be enforced and embedded into the company culture.
Interconnectivity of devices, such as smartphones, watches, appliances and vehicles, also known as Internet of Things (IoT) is a major risk in 2018.
Smart devices continue to flood the markets, and there aren’t any security regulations to protect any data breach.
Solution: companies need to have thorough security risk assessment procedures in place to identify any vulnerability that may be in the IoT. When vulnerabilities are identified, only then can the situation be dealt with.
End User Targeting
Hackers will continue to target end-users with more sophisticated methods and phishing scams. Biometric technology in particular will be the highest prize for hackers, and will prove to be just as susceptible to breach as passwords.
Solution: companies will have to increase their spending on security, which also includes cloud security for customers who are switching to cloud, in order to maintain proper security hygiene.
We make sure your company is at the top of its game and ready to deal with any kind of cyber-attack.