What was once an anomaly is now commonplace. Today, large-scale businesses across industries face increasing pressure from cyber criminals constantly evolving their attack methods to compromise sensitive data and intellectual property. They are the prime targets due to their wealth of valuable information and potential for substantial financial losses.
Having basic antivirus software or firewalls is no longer enough, as these measures prove insufficient to protect an organization’s information. Businesses must stay ahead of the curve by implementing robust security strategies tailored to their specific needs and industry. It includes using advanced threat detection techniques and multi-layered security solutions to detect, identify, and prevent attacks on their networks.
How cybersecurity experts help prevent cyber-attacks
Apart from technological solutions, organizations must hire cybersecurity experts to keep up with the ever-evolving threats to their systems. Cybersecurity professionals are responsible for developing, implementing, and managing security controls that protect an organization’s data and assets from cyber-attacks. These experts are also up-to-date with the latest security trends and vulnerabilities and can create defensive strategies to mitigate threats and ensure the organization’s security.
Furthermore, organizations can train their existing workforce to tackle cybersecurity challenges instead of hiring cybersecurity professionals. And for this purpose, eLearning is a proven strategy. For instance, IT workers can be given the opportunity to pursue online cyber security degree programs to develop the necessary skills for threat identification and mitigation.
Without the proper cybersecurity measures, companies will remain at an increased risk of losing sensitive customer data, suffering from downtime and reputational damage, and facing many other consequences.
Following are the top ten cybersecurity challenges large-scale businesses are facing and how to address them:
1. Phishing attacks
Phishing attacks are emails or messages that pretend to be from a legitimate source but are malicious attempts to steal confidential information. Once you click on the link or open the attachment, malicious software is installed on the system and can spread throughout the entire network. Phishing attacks can also be disguised as messages from banks or other financial institutions, asking customers to follow a link and update the account or provide personal information such as passwords.
To prevent phishing attacks, companies must train their employees on safe online practices and create a security policy that all personnel must follow. Educate staff about the dangers of phishing scams, and warn them to be wary of suspicious emails or links.
2. Remote access attacks
After the COVID-19 pandemic, many businesses shifted to remote working, which has opened up new avenues for hackers to exploit. Companies are particularly vulnerable to remote access attacks, with employees accessing sensitive data from public networks. Attackers can use sophisticated tools and techniques to gain unauthorized access to a company’s network and steal valuable information.
It is crucial to create a secure remote access policy that outlines the protocols and security requirements employees must adhere to when working remotely. Companies should also ensure that their networks are constantly monitored for suspicious activity and have proper security measures to protect their data.
3. Cloud attacks
Large-scale businesses often store their data in the cloud for quick and easy access. Various departments and external vendors have access to the cloud to manage and store data. However, this allows malicious actors to target cloud systems, as multiple users have access, and data is stored in one centralized location.
Businesses must ensure that their cloud systems are secure and regularly updated with the latest security patches. It is also essential to limit access to the cloud, only allowing authorized personnel to view or edit the data. Additionally, robust authentication systems and encrypted networks help protect cloud systems from potential cyber-attacks.
4. Internet of Things (IoT) Security
The Internet of Things (IoT) refers to a network of devices, sensors, and other connected objects that can communicate with one another over the Internet. While IoT devices provide numerous benefits, they also have a unique set of cybersecurity threats. Cybercriminals can hack IoT devices to gain access to a network, misdirect data, steal confidential information and disrupt system functions.
To mitigate these risks, organizations should ensure that their IoT devices have strong authentication systems and are regularly updated to the latest software version. Moreover, organizations should use encryption techniques for data transmission and establish secure networks separated from the rest of their systems. Conducting network audits and employing intrusion detection systems are also essential for detecting and preventing cyber-attacks.
5. Social engineering
While most of the attacks are conducted through technical means, social engineering is a type of attack that requires no technical capability. It involves using psychological tactics to manipulate people and gain access to invaluable information or resources. The attackers use various techniques to convince or deceive people into revealing confidential/sensitive information or granting access to restricted systems, such as pretending to be an IT support person from a legitimate company or asking for personal information through email.
Large organizations must be aware of these attacks and cultivate a secure online environment. Implementing strong security practices and educating users on recognizing and responding to suspicious attempts can avoid social engineering attacks.
Ransomware is an increasingly popular cyber attack involving malicious software that encrypts a user’s files or blocks access to data until a ransom payment is made. It typically spreads through phishing emails or malicious websites and can quickly encrypt all of the company’s data, making it inaccessible.
During the first two quarters of 2022, 236.1 million ransom attacks were reported worldwide, where the attackers demanded payments ranging from a few hundred dollars to millions of dollars.
To prevent ransomware attacks, organizations should have multiple layers of defense and make sure all their systems are regularly updated, monitored, and backed up. Additionally, users should only be allowed to download or install software after proper approval. Doing so ensures no malicious software can enter the network.
With each passing year, we see cyber-attacks becoming more sophisticated and damaging. New techniques are being used for launching phishing attacks, gaining remote access to the company’s internal networks, and attacking cloud-based systems. Social engineering, IoT, and ransomware are widespread and destructive forms of cyber-attacks that are growing in prevalence.
To remain safe from these threats, organizations must invest in robust cybersecurity measures and stay vigilant about their networks. Proper employee training and quality security software are essential to keeping networks safe from ever-threatening cyber-attacks.