Top Cyber Threats to Protect Your Business from in 2023

Cyber security threats continue to haunt businesses due to their volatility and reactiveness, across the globe. With the year 2023 heading closer, industry experts and IT specialists are constantly on the lookout for threats horizons that can harm their businesses.

In this post, we have addressed top three cyber security threats that are ever-present and need maximum attention before they cause irreversible disruptions to your business’s IT operations.

1. IoT Ecosystems

Recently, there has been an astronomical rise in the utilization of Internet of Things (IoT) devices. They are being leveraged across numerous industrial verticals, from the healthcare industry to the agriculture sector.

Botnet and other illegal attacks are being used by cyber miscreants to infiltrate IoT networks with malware, spyware or to run malicious bots, increasing their attack surface, manifold.

When it comes to IoT devices security, their confidentiality, integrity and availability are mostly targeted by malicious actors. In addition, the connected ecosystem of IoT devices naturally increase their vulnerabilities. Businesses must work on finding suitable solutions for the maintenance and management of IoT devices’ security. They can achieve this by leveraging data-centric security solutions and using traditional security parameters.

2. Ransomware

Ransomware attacks are a type of malware that are designed to encrypt files on endpoint devices. The intention behind these attacks is to block access to enterprises’ data. In addition, the attackers demand a hefty amount/ransom in exchange for data access or else, they threaten enterprises to delete or publish their sensitive and confidential data, online.

Protection against ransomware is of utmost value, primarily because it hits both, enterprises reputation and financial position.

3. Security Misconfigurations

The widespread popularity of Multi-Cloud environments has given rise to security misconfigurations that can have dangerous implications for enterprises. This happens when enterprises’ IT environments lack the essential security measures. They are either poorly implemented or have some errors. For instance, default passwords or unpatched systems.

4. Identity Theft / Impersonation

Identity theft or impersonation have also been on the rise, mainly to perform illegal financial transactions. Here, imposters use someone else’s Personally Identifiable Information (PII) for far worse economic implications for enterprises IT operations. Businesses must train their employees to beware of phishing scams, shred sensitive receipts, install anti-malware and use strong passwords

Conclusion

Cybersecurity incidents have been on the rise, mainly due to the mass migration of people towards remote working environments. Going forward, this trend of working in a distributed environment brings with it a lot of real time implications in the way businesses conduct themselves.

Enterprises must work towards improving their cybersecurity posture and build a resilient IT infrastructure by engaging with reliable Cloud Service Providers (CSPs) like dinCloud, an ATSG company.

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