Over the past years, the information industry has been on high alert due to cybersecurity attacks. The severity of these threats has clearly heightened.
Companies, government agencies, and even individuals are at constant risk of massive data breaches. These include malware, phishing, cryptojacking, and many others.
It stands to reason that the constant advancement of technology and digital media makes it more possible for cybercriminals to exploit large enterprises and individuals, primarily those who take less notice of cybersecurity.
Experts continue to advise the public concerning the importance of data protection. Threat Horizon, a report produced annually by the nonprofit Information Security Forum, reported that in the years to come there is an increased potential of risks on the over-reliance on fragile connectivity, lost integrity of trusted information, and deteriorating controls by regulations and technology.
According to the projection of Cybersecurity Ventures, the damage related to cybercrimes will hit $6 trillion a year by 2021. Read on to learn more about the 2020 Top 5 Cyber Security threats today and what steps you can take.
Social Engineering
Social Engineering targets social interactions to obtain sensitive information by deceiving them. Cybercriminals use various schemes to make their target take certain actions. This is a top threat because even the best security systems can’t stop the attack once the hacker gets into the system.
Third-Party Exposure
Businesses use third-party vendors, such as payment processing services. They often overlook, however, that they can also be responsible for a data breach.
Hackers can steal personal data. These include social security numbers and credit card numbers. It occurs through third-party vendors with the use of malware. The attack originates from the third party. Business that used the third party vendor has the liability to inform their clients and users if a data trespass took place.
Patch management
Outdated software patches leave the companies and individuals at risk of numerous information security leaks. Cybercriminals can exploit outdated software and launch threats as soon as they learn about a software vulnerability.
Cloud vulnerabilities
People use the cloud to store data. However, these services are also vulnerable to a huge number of threats. This includes account hijacking. Companies could prevent attackers from accessing their data if the hacker uses Denial of Service (DoS) attacks.
Ransomware
Ransomware attacks affect and hold your computer systems, network, and data as a hostage until a ransom is paid. These attacks are a serious cybersecurity threat, that within 6 months of breach 60% of small and midsize businesses go out of business due to the monetary damages and data loss. Ransomware is noted as a popular way for hackers to target businesses, and these attacks have been growing continuously.
Conclusion
In the digital age and globalization, cyber gains evolving exposure that calls for cyber risk management. Cybercriminals continue to look for new strategies. This includes deceive and damage businesses and organizations. At the end of the day, staying updated by the increasing cyber risks that are in store is always better than managing them later.
This information shared to advise everyone regarding the upcoming threats in 2020, and help decrease their risk by taking preventive actions.
