What are the Biggest Cybersecurity Threats to Watch for in 2020

As the world gradually becomes more digital and introduces new technologies, new cyber threats emerge to steal data through these avenues. Without adequate cybersecurity practices, your data are at a big risk of being improperly accessed without you even knowing.

What are the Biggest Cybersecurity Threats to Watch for

It is very important to instantly understand and visualize the who/what/when of a security incident so you can quickly begin damage control and prevent it from happening in the future.

Preventing cyber attacks from happening in the first place is far more effective, so you’ll need to know which threats are most important to watch for.

Top 4 Biggest Cybersecurity Threats to Watch for in 2020

We have four growing cyber threats below to help you keep your business safe in a dangerous digital era!

1. Phishing

One of the oldest tricks in the book that still manages to remain prevalent today is phishing. Not the kind where you throw out a hook and line to catch a tasty fish, but the concept is very similar.

Phishing involves a fraudster sending communications (the hook) posing as a source of authority. The goal of phishing is to obtain sensitive information (reeling in a catch) that can be used to create some sort of gain for a fraudster.

Many times phishing happens through email and it can be difficult to catch. In the context of business, a phisher may attempt to obtain credentials allowing them to gain further access to a company.

What makes phishing so scary is that it has been used for years, but still isn’t completely eradicated. Many employees are uneducated on the matter and can easily be fooled by a smart phisher.

Even high-ranking executives like CEOs can be a victim of a successful phish, which goes to show just how effective this cyber threat is.

2. Ransomware

Another scary cyber threat is ransomware. This type of attack is incredibly difficult to deal with because it can render an individual or entire company completely unable to act.

The way a ransomware attack works is by infecting a target with a particularly nasty form of virus. This virus behaves in a very specific way, which prevents a user from accessing its data or system.

Because of this, it incredibly difficult to remove ransomware once infected by it. As the name suggests, the purpose of ransomware is to force a company to provide a ransom to regain access to its system or data.

What’s unfortunate about ransomware is that there is also no guarantee that access will be restored upon paying the ransom. This can leave a company crippled if they are successfully targeted by ransomware.

Most ransomware is acquired through phishing or by accessing an infected website. It doesn’t require you to download anything, which makes this malware extremely potent.

3. Connected Smart Devices

A new form of cyber threat that is emerging is happening through connected smart devices being hacked.

Smart devices are often connected to your network, which creates an indirect access point for a hacker to enter through.

What makes this cyber attack particularly effective is that most smart devices are not currently equipped with cybersecurity technologies due to how new smart devices are. Even worse, many smart devices that are in use right now cannot be effectively patched to upgrade their security.

This means that there could potentially be hundreds or even thousands of exploitable access to your network. Smart devices can be quite expensive, so it’s difficult to anticipate that everyone would up and purchase newer, safer models.

4. Cloud Storage

One final important cyber threat to watch out for is attacks on cloud storage. The increased popularity of storing data in the cloud makes it much easier for multiple users to access and work with the same data.

However, it also leaves data wide open to cyberattacks. A big part of the problem is that many companies using a cloud network are not fully able to see and control how data is accessed.

The appeal of using cloud storage is that it does not physically exist and is out of sight. This is also its downfall because it means that companies are not able to effectively keep tabs on their data.

Closing Thoughts:

With new technologies emerging and being adopted every year, it becomes increasingly difficult to keep data safe from cyber threats.

Phishing and ransomware are two older forms of cyberattacks that remain cripplingly effective to this day. Proper user safety and education are critical to preventing either threat from being successful.

Exploitation of smart devices and data stored in the cloud are two newer threats that don’t yet have a quick remedy. For these, an effective and multi-layered cybersecurity system is the only real way to prevent these threats from damaging your business.

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TechGlobeX: What are the Biggest Cybersecurity Threats to Watch for in 2020
What are the Biggest Cybersecurity Threats to Watch for in 2020
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