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Cyber Threats Facing Businesses for 2021

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cyber threats

Since the beginning of the pandemic, cybersecurity concerns have only grown as the global losses from cybercrime are tremendous. With the current state for most businesses, they feel vulnerable, and rightfully so. The key is to stay alert and have a plan to secure sensitive data to prevent breaches. These attacks are only becoming more sophisticated and serve, targeting remote work and taking advantage of the dependence on digital devices. Workplace technology has and is continuing to evolve rapidly. Therefore, enterprises are faced with a new wave of cyber threats. Mostbussines are now putting lots of time and energy into cyber resilience. It is important to create strong policies to respond to the cybersecurity challenges and communicate these policies within training and ongoing to the entire workforce.

Here are the various types of cyber threats facing businesses in 2021 and beyond.

Social Engineering

There are many social engineering attacks. To name a few:

  • Phishing emails
  • Scareware
  • Quid pro quo 

All of these techniques manipulate human psychology to attain specific goals. Successful phishing attacks make up most breaches in enterprise networks. To avoid these scams, users must be granted access privileges for one particular task for only the time needed to complete it so hackers won’t be able to access internal systems and sensitive data.

Ransomware

Ransomware is a data-encrypting program requesting payment to receive the infected data and is the third most popular type of malware used in data breaches. Now, hackers are compromising COVID-19 research data, targeting hospitals for ransom. This interferes with patient care systems which can be fatal. 

Third-party software

Most businesses have assets with at least one critical vulnerability. If something within the operations ecosystem is compromised, it opens the hackers a gateway to other domains, leading to a third-party breach. Many organizations face cybersecurity breaches originating from a vulnerability in their third-party vendor ecosystem. Regardless of how your business operates, you can significantly benefit from securing CA Cyber Liability protection. 

Cloud Computing Vulnerabilities

The global market for cloud computing is projected to increase as time goes on. Throughout the pandemic, there has been a significant increase in cloud use within all industries. This is very enticing for hackers as they can easily perform external attacks on cloud accounts. The criminals search for cloud servers that do not have passwords to exploit the systems to access the user accounts. They may plant ransomware, steal sensitive data or undergo cryptojack attacks. You can protect the cloud computing systems by using proper cloud storage configuration, securing application user interfaces (APIs), and the end-user actions on cloud devices.

Corporate Security Challenges 

Companies and all those who work for them were quickly forced into a new way of work. The remote working environment comes with its own unique set of challenges. Many organizations’ remote networking are not yet as protected as their on-premise IT infrastructures. This sudden change has made many businesses vulnerable as unsecured gaps allow malicious actors to exploit them for financial gain.

About IPRO Agency Insurance Services

IPRO Agency Insurance Services is a specialty insurance brokerage with the expertise to protect your firm, assets and to help you retain clients.  Our services offer all types of professionals the protection they need so they can stay committed to their work with ease.  We are connected with leading insurers to bring you the best coverage for your unique needs and areas of risk. Get in touch with us at 888- 673-8039 so we can begin to safeguard your success.