Security should be at the top of the mind for any organization. It has been estimated that damages from cybercrime would cost around $6 trillion annually by 2021.
With increased threats to information systems and data, it is extremely important for the organizations to remain aware of the top cybersecurity risks and adopt strategies to effectively tackle them. This article will share the top 4 cybersecurity risks and ways to prevent them.
Unable to Prevent Cryptojacking Attacks
Cryptojacking remains to be one of the acutest threats in 2018 and ahead. Cryptojacking attacks rose by around 8,500 in 2017 and are expected to grow even further in 2018.
The WannaCry ransomware attack is one of the biggest crypto jacking attacks in the world that happened in 2017. Here is a screenshot of the WannaCry ransomware that hijacked the computers and demanded a ransom in bitcoin to recover the lost files.
In order to defend your devices and files from crypto jacking and ransomware you need to implement the following measures:
● Look for the signs of crypto mining like rising in employee complaints regarding slow computer performance. This is a red flag to investigate the problem further.
●Use browser extensions like No Coin to block coin miners to using your computers without your consent.
● Make use of a network monitoring solution that leverages the power of AI to detect cyptojacking by analyzing network data.
● Regularly monitor the web server for any changes in the file.
Incomplete Patch Management
The management of software patches is indeed the most painful of all tasks for the IT department. Fixing patches does not add any new functionality to the software but it only meant to keep the application more secure than before.
Undertaking manual patch management is a pain and this is where automated patch management solutions can prove to be extremely beneficial. Here are the top features offered by the automated patch management platform from Cloud Management Suite:
● It automatically keeps desktops, laptops and remote users up-to-date with security patches and software updates.
● Patch management for Windows, Linux, Adobe, Java, Chrome and other vendors are supported.
● The streamlining ability ensures bandwidth efficiency when files are being shared across systems.
● The Device Health manager identifies devices that are vulnerable to attacks.
●The system automatically updates itself so there is no requirement to manually update it.
●You can have complete control over your corporate security simply with the help of a browser.
Regularly updating the missing patches in software is extremely critical for the security of your organization and opting for an automated solution is the best way to get it done.
Insecure IoT devices
Nowadays, almost every digital device is using data and since everything operates under a network, cybercriminals can easily attack the device of their choice by leveraging loopholes in the networks.
The below image shares some stats related to the vulnerabilities using IoT devices:
Here are some ways to keep safe:
● Do your research before you decide to purchase any IoT device like regular security upgrades and password changing features should be there.
● Secure your IoT device as soon as you purchase it because cybercriminals can exploit the device within minutes.
● Immediately reset your password after you purchase the device and set a strong password that is difficult to hack.
● Turn off the device when not in use.
It is necessary for the companies to take adequate measures to strengthen the security of the network and the associated IoT devices in order to reduce any security loopholes.
Lack of Proper Cyber Security Policy
The absence of a proper cybersecurity policy makes the entire organization vulnerable to cyber attacks.
Adopt a strong cybersecurity policy in the organization that is able to ward off any potential threats. Here are some suggestions to reduce your risk of cyber attack:
● Make sure that your employees are made aware of the risks of cyber attacks. In case any threats are identified, there should be proper mechanisms in place to immediately report the threats or quarantine them.
● Identify all the risks associated with cybersecurity and establish cybersecurity governance.
● Install firewalls, anti-malware software and restrict access to important files and systems.
● Keep strong passwords and create programs that prompt the user to change passwords after a set period of time.
● Identify and address all the risks associated with remote access to data.
● Establish secure data destruction processes for computer hardware.
● Make sure to defend your organization from security lapses in core areas like critical infrastructure, cloud, IoT, application, and networks.
The below image depicting the life cycle of cybersecurity is of great help to plan a secured system architecture:
Conclusion
If you think your company can’t be attacked by cybercriminals then think again! No company is 100% safe from the effects of cybercrime. Consider the above-mentioned cybersecurity risks and take the suggested steps as early as possible in order to minimize your risk of corporate insecurity.
