Cybersecurity challenges are faced by businesses of sorts and sizes. Every day we are seeing cybersecurity always headlining the news.
As technology advances, so do the vulnerabilities. Thus, it seems like cyber criminals are better at catching up on the scene. Yes, they’re the ones who get ever smarter as technology does.
See today’s ‘growing in sophistication’ cybersecurity challenges.
Artificial Intelligence: A Defense And A Weapon
Artificial intelligence grows technology to a better degree, in some ways. However, cybercriminals were also outgrowing this method.
For example, take the biometrics login. This kind of AI or Artificial Intelligence has been used for enhanced protection.
However, malicious actors have researched well with this. And have also learned the ropes of technology. Thus, today, Artificial Intelligence is also a cybercriminal’s weapon. Because they also use this as a method for attack. Phishing, hacking & identity theft, for instance.
Lack Of Technicalities
It has been reported that almost 50% of the UK’s entities don’t have enough skills for basic cyber measures. This involves the tasks of setting up firewalls. Not to mention proper data storage, and backing up.
In addition, it further states that 30% of businesses lack cybersecurity skill advancement. For example, forensics, pen testing, and risk assessments.
On the other hand, report forecasts. That there’ll be a lack of cybersecurity professionals by 2021. Furthermore, this shall result in more influx of cyberattacks.
This should compel more cybersecurity courses and training. Because the industry must adapt along with the growth of threats. However, with the lack of skills and technicalities prevailing. The number of vulnerabilities is expected to increase as well.
Not to mention the increase in data breach reports. In line with this, the Ponemon Institute states that the average cost of a data breach is up to $4 million. For instance, per record lost amounts to up to $150.
Data backup and storage are now done over the cloud. This allows for better flexibility of storage. Not to mention how this is also cost-effective.
However, along with convenience comes the cost of security. Because cloud dependence also opens the gateway and loopholes of traps.
Even if it’s true that these cloud companies have security measures. But file security of your company’s data is still on the user’s shoulders.
For instance, the following measures can help:
- Firewall setup
- Multi-factor authentication
- VPN or Virtual Private Networks
Ransomware comes in many forms. And this is also the cyber bait that falls to be effective and efficient.
Moreover, ransomware does file encryption. Also, it blocks the system and network access. Whenever the attacker gains full access, they can then ask for ransom.
Usually, the attacker prices the pay according to the weight of data compromised.
Certainly, ransomware is a great roadblock.
The following are the ransomware’s consequences:
- Losing network access, thus results in damage
- Losing data access
- Financial compromise
- Losing productivity due to loss of access
- Additional IT costs for the network damage
- Legal fees for the failure of regulatory compliance