For good reasons, today’s technology executives and business owners are concerned about cybersecurity. This is because of the enormous amount of data breaches that have happened in recent times. The common vulnerabilities organizations and businesses face are well known to hackers, making cybersecurity officials constantly on the lookout.
Cybersecurity Issues That Most Organization Faces
There is a growing number of cybersecurity issues organizations encounter these days due to the expansion in people’s ability to access cyberspace. The primary driver for this is tech innovations.
Any organization may encounter cybersecurity issues at any time. Established organizations are victims of such attacks. Hackers also go after smaller businesses, compromising their data as well. Many of these attacks can be costly.
According to a report, the estimated average cost of cyberattacks is around $200,000. This has a great economic impact and is especially a thing of concern for many small business owners.
It is financially critical to prevent these attacks. There are several cybersecurity issues nowadays that organizations and businesses should be aware of. Many of these issues can only be prevented by seasoned cybersecurity IT professionals. The common issues organizations face are discussed below.
1. Social engineering
Social engineering is a general term for some of the various tactics hackers use. Many of their tactics are developed so that individuals give out confidential or sensitive information without knowing the consequences. These attacks appear as phishing in many cases.
Phishing attacks depend focus on a tailored email made to look as if it is from a legitimate source like a government agency, bank, or business. On clicking on the links or opening the files, recipients expose their network to malware attacks.
Phishing practices have become more sophisticated in recent years. As a result, organizations must train their employees on how to identify these threats. Workers should also know how to avoid falling for the tricks that come with it.
Another common method hackers use to attack organizations is through the use of ransomware. The purpose of this is to keep the data of an organization hostage until they are forced to pay a particular sum of money which in many cases is hefty.
Many of these attacks can penetrate a system using email. They can also be initiated when you visit an infected website, click on a link with malicious code, or hackers taking advantage of the vulnerabilities in a network.
A ransomware attack can be prevented and it requires a certain combination of educating employees about safe practices in cyberspace and being able to sniff and fix vulnerabilities in their network systems.
3. Blockchain and cryptocurrency attacks
The average internet user may not be overly concerned with blockchain and cryptocurrency, they remain big deals to many organizations and businesses. Attacks on these frameworks are challenges for organizations and their cybersecurity because their business operations and customers’ data can be compromised.
Although these technologies have not gotten to an advanced stage, they have surpassed their infancy. As a result, there have been attacks suck as Eclipse, Sybil, and DDOS, among others.
These technologies are accompanied by cybersecurity challenges that organizations must be aware of. As a result, your organization must find a way to prevent invasion and exploitation by hackers.
4. Cloud computing issues
We are no longer in the early days of computing. There has been an exponential growth in the amount of data residing on multiple data sources. For this reason, the data of organizations become more vulnerable to being compromised. This is as the number of devices used to store sensitive or confidential data increases.
There are exposed new vulnerabilities in the Internet of Things (IoT) and cloud storage. As a result, organizations of all sizes must ensure they put plans in place to mitigate these security threats in their operation. It is not just good enough to be able to protect their mobile devices and business computers.
5. Distributed denial-of-service (DDOS)
The hallmark of DDOS is coordination. What a cyber attacker does is flood the network system with an enormous number of simultaneous functions like a request to a homepage. The aim is to overwhelm the devices, systems, or networks.
Ultimately, these functions can expose a network system’s vulnerability that the attacker can exploit. This method is sophisticated just like other forms of cyberattacks. Due to this, organizations should be aware of the latest innovation and how to avoid the associated cybersecurity issues.
6. Third-party software
An appealing target of cybercriminals is a small business as stated already. One of the reasons for these is the smaller computer infrastructures they use. Some of these infrastructures can give way to bigger targets.
Additionally, the security protocols followed by small businesses are not robust enough to prevent theft. The Target breach of 2013 is a major example of this type of attack. The origin of the attack was traced to be from an initial attack on a small business that services the heating and air conditioning system of Target. The incident led to million of personal data being breached.
7. Insider attack
Although most cybersecurity organizations face external attacks, there are instances of insider attacks as well. Employees harboring malicious intentions can export or leak confidential and sensitive data to individuals or other competitors. The business can make reputational and financial losses as a result.
This issue can be negated if data are monitored and there is traffic for both inbound and outbound data. Reducing access to data based on the role of a job or installing firewall devices for data routing using a centralized server can limit the risk of attack by an insider.
We are in a new age of cybersecurity issues and vulnerabilities that exists for both small and large organizations. However, the imminent threat of data loss can be mitigated when you understand the methodology hackers use. Cybersecurity experts can prevent catastrophic issues for organizations by monitoring new technologies and trends.