A company's information is its focal point, around which everything else revolves. Therefore, the significance of information security cannot be understated. By maintaining a strict cybersecurity policy, your organisation can prevent data breaches, unauthorised access, and other serious dangers that could endanger your digital assets.
After the economies of China and the United States, cybercrime's economy would rank third in size. By 2025, it might grow to $17.65 trillion yearly. We must take action to prevent becoming a victim of cyberattacks given this startling statistic.
The following are some salient justifications for why modern businesses should prioritise cyber security:
An uptick in cybercrimes
A cyber-attack can have a negative impact on your business, no matter how big or little it is. This is due to the fact that every business has numerous valuable assets that hackers might exploit. Occasionally, it relates to the private data of clients or clients of businesses. Other times, it is just money that is at issue. There were 270 cyberattacks last year (unauthorised access to data, applications, services, networks, or devices) per organisation, a 31% increase from 2021. Strong cybersecurity is the only answer because cybercrimes are only becoming worse every year.
Cryptocurrency and the deep web
The deep web, commonly referred to as the dark web, is a collection of websites that are hidden from search engines by passwords or other security measures. Only specialised web browsers can access these websites or pages, keeping users' identities private.
The dark web is similar to a secret room where criminal activity can be carried out, including the distribution of software, the sale of personal information, the trafficking of people and drugs, the sale of illicit weapons, and many other unimaginable crimes.
The preferred currency of the attackers is now cryptocurrency. Attacks are escalating as threat actors seek profits as the price of Bitcoin reaches an all-time high. End users have long struggled with phishing scams, data thieves, and malware that switches wallet addresses in memory. Attacks on the core software of cryptocurrencies, smart contracts, are now more frequently launched. These new marketplaces present chances for sophisticated attacks (such as the flash loan attack), which might give attackers access to liquidity pools for cryptocurrencies worth millions of dollars.
The significance of cyber security has grown as a result of these vulnerabilities.
Excessive use of technology
We all spend a lot of time using technology, so fraudsters have a wealth of opportunities. Serverless computing, edge computing, and API services are all booming, just like cloud services. Processes may be effectively automated and dynamically changed to diverse situations when used in conjunction with container orchestrations such as Kubernetes. Attackers are attempting to stop this hyper-automation by going against such APIs, which have a significant impact on a company's business processes.
Increased use of IoT devices
The development of Internet of Things (IoT) technology has made our duties easier, but it has also made us a target for hackers. IoT devices present greater surface areas for data breaches due to the variety of sensors they are fitted with and the innovative technology they employ for constant communication and data exchange. No matter how sophisticated your security measures are, if you don't properly manage these internet-connected gadgets, you'll find a way to get around them.
Rise in ransomware
Currently, ransomware is one of the most lucrative cyberattacks. Due to the intense focus of law enforcement and the millions of dollars in profits at stake, ransomware tactics, in particular, are changing significantly. Cloud, virtual systems, and OT/IoT environments have all been impacted by ransomware. Anything that is part of a network that can be accessed could be a target. The new standard will soon be data theft for double extortion and the disabling of security mechanisms, but it will also become more intimate with insider threats and personal data.
FEMA estimates that 25% of firms that experience a disaster never reopen. Therefore, it's critical that we take cybersecurity seriously if we want to protect our systems from viruses.
Mitigation Tips
Everyone is subject to major cyberthreat. You should take efforts to make yourself cyber secure if you are a business owner or any other type of online user in order to protect your information from hackers.
In order to stop bad actors from abusing your system, anti-malware and antivirus defences are essential. As previously indicated, cybercriminals target companies of all kinds, including small firms, in a variety of methods, and in exchange, they demand ransomware payments of $100,000 or more. You may get real-time protection from malware, viruses, and ransomware with advanced cybersecurity systems that use AI and machine learning.
Additionally, you must have a backup and disaster recovery plan if you want to protect your company against unanticipated cybersecurity incidents. Acronis is a dependable backup programme that automatically backs up all of the photographs and files on your computer, not just a subset of them. It offers a strong backup and guarantees that your files are accessible when you require them.
Cyberattacks have impacted businesses of all sizes in every sector of the global economy, including Uber and social media giant Facebook.
Because of the ongoing advancement of technology, we are all now susceptible to cyber-attacks. The rate of cybercrime is constantly increasing and will never stop. Hackers can thus take our data, money, and reputation if there is no cybersecurity. You can defend your company from cyberattacks in a variety of ways; all you have to do is recognise its significance and take appropriate action. Contact our staff right now to protect your company.