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Is Your Business Prepared For Evolving Cyber-Threats?

Business Prepared For Evolving Cyber-Threats

If you rank among the business leaders who implemented a robust cybersecurity strategy but do not address data protection as an ongoing threat, the chances of a breach grow daily. Secure cybersecurity requires industry leaders to keep pace with the way companies and employees access technology and the vulnerabilities enhanced use may create. Static and outdated methods to prevent data breaches turn seemingly determined defences into low-hanging fruit. Consider these startling cybersecurity statistics.

  • Upwards of 68 percent of business leaders believe threats are on the rise and cybersecurity spending is expected to top $133 billion in 2022, according to Gartner research.
  • More than 4 billion digital assets were compromised in the first six months of 2019 alone, according to RiskBased.
  • More than 70 percent of all data breaches are motivated by money, according to Verizon
  • Approximately 52 percent of breaches involved hacking and upwards of 33 percent deployed phishing tactics, according to Verizon.

As a member of the Kingston and Brockville, ON, business community, the cybersecurity professionals at OnServe urge our colleagues to consider whether or not you are prepared for the next cyber-attack.

Evolving Cyber Threats

How Hacking Schemes Have Evolved

It may surprise some to know that the first known computer virus was unveiled nearly 50 years ago. Called “The Creeper,” it was a self-duplicating application that was not necessarily malicious. However, it demonstrated that viruses could infect and destroy digital assets. Hackers have been tirelessly building on this premise ever since. Today’s most prevalent hacking schemes might have been unimaginable during the 1970s. They include the following.

  • Phishing Scams: Cybercriminals have enhanced this once low-level effort to deliver malicious software via electronic messaging, including email and texts. The content has evolved from obvious bulk narratives to include information that can target individuals. Hackers recently took advantage of the pandemic by unleashing millions of electronic messages designed to leverage fear and uncertainty.
  • Unsecure Networks: Digital thieves with enhanced skills search for unsecured networks. When work-from-home or other remote employees access unsecured networks, clever hackers can breach their device and then a business network. This criminal method was inconceivable 50 years ago.
  • Password Spraying: The digital burglary technique often involves a hacker or team of cybercriminals leveraging outdated username policies that allow employees to log in with email. Cyber-thieves then use automation to propel weak and commonly used passwords to gain access to the business network.

How To Keep Pace With Emerging Cyber-Threats

In many ways, cybersecurity is like an ongoing chess match between criminals and managed IT cybersecurity professionals. For every technological advancement that increases business productivity and quality of life, a hacker devises a move to take advantage. Your business requires someone with the knowledge and expertise to play the game and deliver countermoves to keep your organization from getting check-mated. These are current strategies that can help keep you ahead of online criminals.

  • Employee Cybersecurity Training & Awareness
  • Virtual Private Networks for Remote Workers
  • Multi-Factor Authentication for Employee Login Profiles
  • Automated Password Managers to Deter Spraying Tactics
  • Software Patching Policies
  • Enterprise-Level Antivirus Software & Firewalls
  • Remote Data Encryption Transfers

As more people work remotely and use personal devices to connect with business networks, hackers will most certainly devise increasingly sophisticated methods to breach Canadian business systems. Methods used by threat actors will continue to evolve. Making matter worse, however, their propensity for online thievery will remain the same.

If you have an existing cybersecurity plan that needs updating or are concerned about emerging threats, OnServe delivers proactive and forward-thinking cybersecurity to keep digital assets secure.