Cyber threats continue to escalate, as attackers target the full breadth of a business’s attack surface: endpoint hardware and software like desktop computers and mobile devices, IoT device infrastructure such as industrial sensors or security cameras, cloud-based resources, and employee-owned personal equipment. To make matters worse, a cybersecurity workforce shortage threatens to leave many organizations vulnerable.
The most common cyberattacks include phishing scams that trick users into compromising security protocols, malware attacks that steal or damage data, ransomware that locks critical systems, and man-in-the-middle (MitM) attacks that intercept communication between two parties to steal or manipulate data. The most damaging attacks, however, are sophisticated advanced persistent threats (APTs). These are long-term cyberattacks that linger undetected for extended periods to quietly gather information and access to sensitive systems.
In addition to the financial costs associated with a data breach, a company’s reputation is also at risk. Customers and clients may become less willing to do business with the affected company, and investors may see a drop in stock value.
Businesses need to take a proactive approach to mitigate the risks of cyberattacks, including regular patching of operating systems and applications and continuous monitoring and threat detection. They should also invest in employee training and awareness, as humans are the weakest link in any security chain. This is especially important given that the average data breach takes 150 days to discover.