Today, cyber security is a bigger talking point than ever, with the cost of breaches, both in terms of finance and reputation, creating massive headaches for many unprepared entrepreneurs. While security tech is always marching forward, there are still various risks that all business owners need to be aware of. Here are some of the biggest cybersecurity challenges businesses are facing in 2017…
Distributed denial of service attacks have struck many big names over the past few years, including the BBC and Donald Trump’s election campaign website. Unfortunately, leading experts say that we haven’t seen the end of this threat by a long way. DDoS attacks are not only becoming faster and more severe, but are also increasing in frequency at a rate that’s making security experts’ heads spin! The volume and the scale of these breaches is challenging the defenses of countless organizations, regardless of their size or niche.
The Internet of Things
Cybersecurity experts have estimated that there’ll be well over a billion connected “smart devices” in the hands of consumers by the year 2019. As these devices become more and more common, there will be more and more incidences of them being hacked. There’s also a major threat to consumer privacy, as many of these smart devices will be capable of holding a huge amount of sensitive personal information. Just like selecting the correct identity verification service for your business, you need to be thinking about the risk any smart devices are posing to your company.
Generally, machine learning has been a good thing to businesses so far. This tech can be used to pick up on fraud, predict the success of marketing initiatives, and automate customer product suggestions based on their past behavior. Being able to process massive quantities of data at fast speeds with minimal manual interaction has opened up a lot of doors for companies, however, like many technologies, machine learning is a double-edged sword. Security experts believe that machine learning could be used to commit cybercrimes, such as helping fraudsters identify lucrative targets through large databases.
Mobile Device Malware
These days, a massive number of businesses are using smartphones and tablets to perform important tasks from remote locations. As this trend becomes more and more common, the likelihood of cyber criminals exploiting weaknesses in mobile networks will become greater as well. Mobile banking Trojans and mobile ransomware are being reported with increasing frequency, and if you’re not taking steps to protect your business from them, it could be at risk of a massive breach.
While the bulk of cyber criminals are all about profit, there’s a growing niche of hacktivists; hackers who attack IT infrastructures for political and social reasons. Because these criminals typically seek to damage an organization’s reputation before anything else, if your business is the victim of one it can be much more costly than a breach that aims to steal your money. If your industry is the subject of any kind of social or political controversy, be sure to protect your business’s systems accordingly.