Cyberattacks are more common and severe than ever. We’ve witnessed some of the worst cyber crimes since 2018, involving colossal data breaches, microchip flaws, and more.
We read about new cyberattack threats daily, including phishing and ransomware. It’s likely that in 2021, we’ll see more cyber threats that companies need to anticipate. On the plus side, excellent companies design useful cloud-based databases and related products that usually thwart cybercriminals.
That said, the cyberattack trends highlighted below are of particular concern to companies in all industries.
Cloud vulnerability – highlighted in the Oracle and KPMG Cloud Threat Report – is one of today’s most severe cybersecurity vulnerabilities. That’s because businesses are using cloud apps and storing private information related to workers and company operations in the cloud.
More companies are using the cloud, creating many new security concerns for companies and making old ones worse.
A few years ago, Forbes predicted that 80% of enterprise workload would be cloud-based by 2020. These companies are tempting targets for hackers. Top security threats to cloud-based operations include:
- Insider threats
- DDoS attacks
- Insecure interfaces
- Data breach
Also, cloud businesses, such as Amazon and Google, that store other companies’ data want to enhance cloud security. But breaches still occur.
Machine learning and AI are changing all industries. AI can positively affect manufacturing, security, marketing services, and supply chain management, so AI has become mainstream.
But AI is a potential goldmine for cybercriminals. Consider that the same artificial intelligence capabilities that pinpoint and stop cybercrime can be used by criminals to initiate complex cyberattacks with malicious software.
Some experts believe AIF and machine learning poisoning are poised to become the biggest future cyber threats.
Machine Learning Poisoning
If a cybercriminal attacks a machine learning model and sends malicious instructions into it, the system is vulnerable to attacks. Machine learning models usually utilize crowd-sourced or social media data.
They also use user-created data, such as purchase histories and satisfaction ratings. Cyber thieves specializing in MI poisoning might create backdoors and Trojans to sabotage training sets. This malicious action could compromise the whole system.
Social Engineering Attacks
Social engineering attacks– think phishing – are popular with criminals to trick users into handing over personal data, such as credit card information and login. Most companies are boosting email security to kill phishing scams, but cybercriminals are devising elaborate phishing kits to spur more financial fraud and data breaches.
Phishing is an effective, high-reward criminal endeavor, so expect it to increase in 2021. A recent Verizon report states that phishing is still the top cause of global data breaches.
Criminals also like SMiShing (SMS phishing). The popularity of Slack, WeChat, Signal, WhatsApp, and many others encourages attackers to use those platforms to deceive users into installing malware on their smartphones. SMiShing attacks often target users with fake messages that look like fundraising efforts.
How To Prevent Cyberattacks In Your Company
Cyberattacks often succeed, but you can safeguard your business’s vital information by adhering to these guidelines:
- Make cybersecurity a priority. Establish a security strategy to assess and classify all data in your company and the security needed to keep it safe. Perform security audits regularly.
- Promote cybersecurity awareness in your operations. Educate workers on the need for security protocols and data protection.
- Devise robust and unique password combinations. Also, set up two-factor authentication to get into your systems.
- Spend on cybersecurity tools, such as firewall, antivirus software, and related privacy tools. Scanning for threats regularly will thwart many cyberattacks.
- Create a robust backup policy. This protects your business from ransomware attacks.
- Hack your company! This pinpoints your system vulnerabilities so you can fix them.
The world’s digital transformation is advantageous for all of us. Yet, cybercriminals are always on the hunt for new exploits to defraud people and organizations. You can protect yourself and your business with some preparation and foresight, as detailed here.