We all know about the damage that data breaches can do to businesses. The average cost of a data breach has increased to $3.92 million. But data breaches aren’t the only threat that you need to worry about.
Just as ransomware achieved new prominence back in the first half of this decade, new threats are springing up all the time. It is up to you to make sure that your business is protected.
Luckily, we can help you out. We’re here to let you know about current cyber security issues and the cyber security issues of the future. Ready to find out how to protect yourself online?
Then read on.
1. Advanced Ransomware
As technology progresses, so too does malware. We’re aware of the damage that ransomware can wreak upon business systems. We know that the best solution to ransomware is regular backups.
However, these current cyber security issues could be about to get a whole lot worse.
Recently, researchers showed that ransomware can infect smart devices, such as thermostats and locks. You can’t exactly back up your thermostat and its settings are stored in the cloud, making formatting exceptionally difficult or even impossible.
2. Fileless Malware
Your traditional malware installs itself on to your hard drive. This is the malware that we all know how to deal with. Fileless malware presents all-new cyber security issues.
This malware executes itself in the computer’s RAM, infecting your PC through unpatched vulnerabilities. It’s fairly easy to get rid of by restarting your PC. However, by then, the damage could be done.
3. Cloud Security Issues
More and more data is being stored on the cloud. While this solves issues of storage space, it does present cyber security issues. The main problem is that you aren’t in control of your files.
Once they are uploaded to the cloud, your files are out of your hands. You need to ensure that the storage provider is as secure as your company. If they aren’t, you have a big problem.
Another big problem presented by the cloud is insecure APIs. APIs often have public IP addresses, which means they can be hacked. If they are hacked, the hacker will then have access to the storage.
The best way to avoid these issues? Either make sure the cloud storage provider is secure or avoid the cloud completely.
4. AI Attacks
Botnets have been used in attacks for donkey’s years. But there’s a bigger and more worrying threat on the horizon. AI is becoming more advanced and could become a mainstay for hackers.
If AI with machine learning capabilities is utilized, attacks will become smarter, more focused, and harder to detect. Look at password hacks, for instance. Before, hackers would have to use rainbow tables or dictionary attacks.
An AI, on the other hand, can send vast numbers of different password attempts in a matter of seconds.
5. Untrained or Malicious Staff
The biggest problem with any IT system comes from its users. Keeping your staff trained and monitored is essential.
It’s not unheard of for disaffected employees to leak or sell data. The only way to stop them from doing this is to supervise their data usage through management programs. When an employee leaves your company, immediately revoke their security privileges.
You wouldn’t leave your former employees with keys to the premises. Why leave them with keys to the network?
There’s also a problem with education. For example, your employees need to know how to spot phishing emails and insecure websites. Your IT support staff need to ensure that any vulnerabilities are patched.
Lax IT education could cost you a huge amount of money. To ensure staff are well-trained, you should have them get qualifications like the Mile2 cissp security certification.
6. Reliance on Single-Factor Passwords
This is one of the largest current cyber security issues around. Far too many businesses still rely on single-factor passwords for their systems. If your company does, stop doing that right now.
You need to ensure that you have multi-factor authentication set up for your IT systems. This asks for an authentication code every time a new computer tries to access the system. It prevents hackers who know your passwords from accessing your network.
It’s not even difficult to set up, either. You can use software like Google Authenticator or a physical dongle. Get it done, and make your system more secure instantly.
7. Ransomware-Assisted Data Breaches
Ransomware traditionally threatens to delete your files if you do not pay the ransom. Provided that you have backups, getting rid of the malware is time-consuming but not costly.
However, ransomware could be about to get a whole lot worse. It’s possible that ransomware could be tailored to target a specific company. Once it has your data, it will threaten to leak the data.
Do you pay the ransom or suffer a data breach? In all honesty, if they do have your data, paying could be the best bet. It does, however, require you to put trust in your attackers.
8. Cryptocurrency Attacks
If your business uses cryptocurrency, then you need to ensure it’s secure. Many companies don’t adopt the same level of security for their cryptocurrency wallets. It’s an exceptionally costly weak point.
Imagine leaving a suitcase full of dollars out in your parking lot. That’s what happens with an insecure crypto wallet.
There are numerous types of attacks that could target your cryptocurrency wallet. The most dangerous is the old-fashioned DDOS. If dealing with cryptocurrency, ensure that your currency is protected against this security threat.
Staying On Top of Current Cyber Security Issues
We’ve shown you the most dangerous current cyber security issues. How do you make sure that your company is protected?
It’s quite simple. The best protection is an educated workforce. If your employees understand best IT security practices, the risk of catastrophic problems is cut tremendously.
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