In previous blogs we’ve written about the extent to which cyberthreats have evolved. One of the most significant challenges for experts in the cyber industry is responding quickly and effectively to those threats, and In many cases, cyber professionals are just catching up to yesterday’s cyber concern when the new wave of attacks hit.
With the constant shifting of the cyber threat landscape, you may be wondering what concerns should be at the forefront of your mind, and in the mind of your company. Here are the 4 most impactful cyber-concerns every business leader needs to be aware of in 2020.
#4. Ransomware Continues to be a Concern
There was a ransomware attack every 14 seconds in 2019, according to CPO Magazine. That statistic probably sounds borderline unbelievable, but it’s an unfortunate fact that business owners and individuals had to deal with in the year that was.
Preventing a ransomware attack revolves mainly around educating each individual member of your company on how to spot and avoid warning signs such as harmful links and suspicious downloads. But even with the proper education on how to avoid these attacks, they can still often be difficult to identify.
#3. Email Hacking Has Devastating Potential
Email hacking can damage the reputation and functionality of a company in a big way. If a company email is hacked, there is really no limit to the potential chaos the hacker can inflict. From stealing private and valuable information in your inbox, to sending out phishing emails to clients that know and trust your company.
Tips for avoiding this type of attack include changing passwords regularly, choosing strong passwords, and implementing two-factor authentication.
#2. Debit or Credit Card Fraud
While this type of cybercrime will often affect individuals, it can also devastate organizations, from small businesses to corporations. PNC describes credit card fraud as, “Theft and fraud committed using a credit or debit card to either obtain goods without paying or to obtain unauthorized funds from an account.” If a business has credit cards linked to their accounts, a fraud of this nature can be devastating.
You can minimize risk by monitoring all your accounts closely, checking company credit reports and using credit monitoring services.
#1. The Rise of Social Engineering
Norton describes social engineering as, “the act of tricking someone into divulging information or taking action, usually through technology.” This definition leaves a lot up to the imagination, most likely by design. Social engineering can be a complex, deeply personal, and shockingly impactful method for cybercriminals to gain access to private, and often valuable, information.
One of the most complicated parts of social engineering is just how tricky it can be to identify and prevent these attacks, since the basis of social engineering is criminals gaining the trust and confidence of their victims. One red flag people can be on the lookout for, however, is if someone is seeking personal information not long after you meet them.
The 4 cyberthreats in this article are far from the only threats facing companies in 2020, but they are 4 of the most significant. Be sure to take all the necessary precautions possible to limit your companies exposure to these risks.
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