A harsh reality of the 21st century and the modern era is that cyber security dangers are ever-present. This is causing businesses to understand that they are in desperate need of better cyber security protection from such attacks and intrusion. The modern criminal has become smarter over time and has learned to break through security features and in turn, businesses sometimes become internally vulnerable as well. It’s important to say that you have to understand how to act in such situations. How does one stay safe?
Although there has been rising awareness regarding cyber security attacks on businesses, the strategies they have in place to counter such attacks inevitably fail them in the end. This again causes economic losses to the world, where the loss because of cybercrime was over $700 billion.
What can your business do if your current defences against cyber-attacks are ineffective? The best way is to make use of an approach which is holistic. What that means and how you can apply it? Keep reading and learn all about the controls you may place to be able to safeguard your organisation in this cyber threat filled era.
The economic loss has become a major issue and in particular, because of cybercrime. The rate is so high that anybody in top leadership positions would shift uncomfortably in their seats. This may actually be good because it may make them focus on resource allocation towards the best way to secure their businesses.
Even though businesses have skyrocketed in terms of their innovations and innovative processes, cyber protection and an appropriate defence strategy has remained an issue. Strategies that worked in the past aren’t able to outperform in this new world of complex threats. This has caused cybercrimes to become more sophisticated, while solutions to these problems have disappeared.
This calls for a new strategy.
Managing cyber security has become more complicated than before because of IoT, which can break through even the most protective network walls. Without IoT, businesses with a lack of innovation are privy to attacks through the use of shadow IT and IP traffic which is unencrypted.
Now let’s talk about what problems modern businesses are facing.
1. Shadow IT: Initiatives that arise from a departmental level bring about new factors such as devices being unauthorised along with IoT. Even though such initiatives don’t apply all over the business, departments may not proceed through the defined channels of procurement. This causes department heads to be responsible for cyber security, and these individuals usually underestimate the complexity of threats due to the use of an internal system of cyber security and a lack of knowledge. This causes vulnerabilities to rising and is called the Shadow IT.
2. Cyber-security Skills Gap: Providing for cloud initiatives is difficult, although a lot of businesses are well underway. Cloud securing is complicated and encompasses both users and cloud providers as well. What a lot of businesses find is that they don’t have the necessary skillsets to be able to hold their own. It has been reported that over 2.5 million employment opportunities will be unfilled for professionals of cyber security over the next three years.
3. The Rise of Crypto Mining Software: A new threat is that of “crypto-jacking” where a 500% rise in rates of this threat has become alarming. This is because cybercriminals engaging in this activity require more processing power to the detriment of those individuals against whom these crypto-jacking activities occur.
4. Malware Cocktails: Malware has become more advanced and now can attack different levels of businesses in one go. This destroys the businesses ecosystem, and the aim is to increase profits for the criminals who make use of them.
Being a leading cyber security consulting company, Enigma Consultants is here to safeguard you from a plethora of threats. So, if you’re looking for a cyber security consultant, call us now. We’d gladly assist you.