As organizations increasingly rely on technology to operate, cyberattacks pose a significant threat to businesses today. Cybercriminals are using sophisticated methods such as phishing, malware, ransomware and social engineering to breach an organization’s network and steal valuable data.

Here are 7 top cybersecurity threats facing businesses today:

Insider Threats: Insider threats refer to employees or contractors who misuse their access to a company’s sensitive information or systems. This threat can be intentional or accidental, and it can result in data theft, sabotage, or other damages.

Ransomware: Cyber criminals will demand a ransom payment in exchange for decrypting stolen data or restoring access to an organization’s systems. Ransomware can result cause an organization’s financial loss, operational disruption, data loss and breach, reputational damage and even legal liability.

Third-Party Risks and Supply Chain Attacks:  Interconnectivity between third-party vendors, suppliers, and external partners can pose a significant risk to businesses if they are not properly vetted and managed. These vendors can have access to sensitive information or systems, and if they are breached, it can result in a data breach for the company.

Cloud Security: With more businesses using cloud services for data storage and processing, cloud security has become a major concern. Data breaches can occur due to misconfigured cloud servers or inadequate security protocols.

Mobile Device Security: Mobile devices are increasingly being used to access business networks, and they can be a source of vulnerability if not properly secured. Hackers can exploit vulnerabilities in mobile operating systems or apps to gain access to sensitive data

Internet of Things (IoT) Security: IoT devices are becoming more prevalent in the workplace, but they can pose a security risk due to their lack of security features. Hackers can exploit vulnerabilities in IoT devices to gain access to a company’s network and steal data.

Social Engineering: Social engineering attacks use psychological manipulation to trick employees into revealing sensitive information or performing actions that can compromise a company’s security. This threat can be difficult to detect and prevent because it relies on human behavior rather than technical vulnerabilities.

Cybersecurity Solutions

While firewalls and antivirus software protect against malware and other cyber threats, alone they prove inadequate against today’s threat landscape. A managed cybersecurity provider supports IT personnel and offers invaluable services that can enhance an organization’s overall security posture.

Here are some key measures they provide:

  • Managed Detection and Response Services can minimize the impact of a cyber attack and ensure a speedy recovery
  • Proactive Network Monitoring ensures your network is protected by qualified cybersecurity experts who assess information and offer expertise and support IT teams
  • Regular Software Updates ensure that all software and systems are up-to-date with the latest security patches
  • Access Controls reduce the risk of insider threats by limiting access to sensitive information and systems to only authorized personnel  
  • Employee Training raises awareness among personnel of cyber threats and how to prevent them, reducing the risk of social engineering attacks
  • Vulnerability Scanning ensures proactive remediation before a cyber attack occurs by identifying any weaknesses in networks and systems

By implementing these cybersecurity measures and partnering with a managed cybersecurity provider, IT teams can effectively protect businesses against the continuously evolving security threats they face today.