Cybercrime is a prevalent problem that will only worsen amid an ever-growing cyber threat landscape.
As organizations grow, the risk of cybercrime increases due to increased reliance on cloud-based technology, a growing global workforce, and sophisticated social engineering tactics by attackers.
These issues are a challenge for security professionals tasked with educating and running awareness programs and conducting training.
Top 5 Cyber-Threats
These are the top cyber threats facing organizations today. Security teams can also prevent cyber attackers from breaching important business data.
#1. Broken access control is the top cyber threat
Organizations continue to need fixing with broken access control. Because users can access more information than they need for their roles, this exposes private data and could lead to breaches of confidentiality.
Permission pathways must be established. The Open Web Application Security Project (OWASP) 2021 Report has ranked Broken access control as the number one risk.
It moved up from fifth place in the 2017 report. This makes it one of the most prevalent vulnerabilities.
Zero trust is not just a buzzword. It’s the way organizations should run their security systems. Every employee, regardless of their motives, can expose company data.
This is a threat to the entire organization. Security leaders should conduct thorough data authorization audits to ensure that all information flows are in the right hands.
If it isn’t, they can remediate permissions in every department.
#2. Phishing scams, social engineering hacks
Phishing scams are an example of a social engineering attack. To prey on the vulnerable nature of end-users, malicious actors manipulate them using fear and urgency.
These include asking for donations on fake websites and changing login credentials for streaming or banks.
A recent study on email threats shows that there has been a 48% rise in email phishing attacks between January and June 2022.
Remote work is becoming the norm, and malicious actors are developing sophisticated phishing attack strategies.
Some of the most popular phishing tactics include false shipping updates, reminders for healthcare appointments, and requests from bosses or colleagues to get login credentials or financial information.
Cybersecurity education is the best way to protect your information and prevent cyber threats.
#3. Security compliance falls
More security professionals are needed to lead to stronger security positions. As organizations cut back on staff, the risk of being exposed to attack continues to rise.
Many organizations only conduct penetration testing to ensure compliance audits are completed.
It increases security risks if routine pen testing is not performed between compliance audits. Security gaps can occur when organizations need to be fully protected.
Automation is crucial in closing the security gap, as security teams are smaller than ever. Some tools can help speed up and target security testing.
Ad-hoc pen testing allows organizations to accelerate their DevSecOps journeys by bringing security to the bottom of the CI/CD pipeline.
Agile testing allows organizations the ability to test specific product updates and smaller areas of a security system.
Security teams must proactively identify and address security gaps through continuous testing to reduce risk and increase remediation efforts.
Related: Top Five Cybersecurity Trends
#4. Internet of Things
Bad actors have a new way to leak private information through connectivity and data sharing via the Internet of Things. The IoT architecture is intimately linked to our personal lives.
IoT product manufacturers from overseas are trying to comply with the EU’s cybersecurity legislation. It is only a matter of time before the United States passes cybersecurity mandates for IoT companies.
It is essential to update software and firmware regularly to prevent attacks and fix vulnerabilities.
IoT firmware devices are a great way for businesses to educate employees about the importance of updating software and remind them that it is their responsibility.
Strong password protection and frequent password changes can help prevent insecure defaults that could lead to distributed denial-of-service (DDoS).
Although password protection could be better, it can be deterred by using different passwords on each device and changing them regularly to make them more complex.
Pay-for-use malware, known as ransomware-as-a-service (RaaS), is a growing threat in organized cybercrime gangs.
They are part of a malicious operating network because they have sophisticated business models and strategies.
Vice Society, a cybercrime organization, has attacked Los Angeles Unified Schools District within the last year. They leaked 500GB of private data from faculty and students after they failed to pay the ransom.
A recent Sophos study found that the average cost of recovering from a ransomware infection in 2021 was $ 1.4 million, a high price most companies can’t afford.
In the last few years, digital transformation has accelerated, and ransomware technology and methods have also increased in speed.
These bad actors have gained global access to cloud computing and can exploit vulnerable organizations that have not yet configured their security systems.
Organizations, large or small, can strengthen their IT security and infrastructure to prevent ransomware attacks by implementing ethical hackers’ insights and continuous monitoring.
Cyberattacks continue to be a hot topic in the news. The severity of these attacks is increasing, and it is incumbent on everyone to improve their security posture by educating awareness and training.
While cybersecurity threats will continue to evolve, many of the threats will remain the exact same.
Organizations must continuously evaluate their processes, people, systems, and infrastructure to be ready and resilient.
Organizations can be more prepared for possible threats by utilizing the insights of ethical hackers, routine testing, and leveraging automated.
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