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Top 7 Cybersecurity Threats for 2018

27 July, 2018
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Yahoo, eBay, LinkedIn, Equifax, Sony, Dropbox, Epsilon, Home Depot, Google, JP Morgan Chase, and many other big-name businesses share at least one thing in common – they all have experienced some of the worst data breaches in history in which the personal information of millions of their customers were compromised by cyber criminals. 

Cyber attacks are a nuisance at best. At worst, they can mean millions in damages or even the eventual death of a business. Research shows that two-thirds of businesses never survive a cyber attack

Top Cybersecurity Threats for 2018

Security Threats to Watch Out for in 2018 and Beyond

To cite Cisco in their 2018 Annual Cybersecurity Report, “Malware is becoming more vicious” and harder to combat. 

Not only are there various forms of malware today, propagators are also getting better at creating malicious software that can evade traditional sandboxing techniques. Even encrypting, which is supposed to protect user data from prying eyes, is also being used by cyber criminals to conceal malicious command-and-control activity, buying them “more time to inflict damage.”

It’s becoming increasingly vital to arm yourselves with up-to-date cybersecurity knowledge to understand the threats you could be facing in 2018 and beyond.

To help you with that, here’s a list of the top cybersecurity threats you need to be aware of:

1. Ransomware

Ransomware is a type of malware that holds the target’s data to ransom. It locks the victim’s data through encryption and only when the victim agrees to pay a certain amount will the attacker release the ransomed data via decryption.

2. Mobile Malware

Juniper Research estimates that by 2020, there will be 2 billion mobile banking users worldwide, a number that is equal to one-third of the global adult population. While this surge in usage is good news for many organizations, particularly e-commerce businesses, hackers also have more reason to target mobile users.

Keyloggers have gone beyond laptops and desktop computers, and cyber criminals are getting better at fooling mobile users into downloading malicious apps to steal passwords.

3. Long-Term Extortion

A ransomware attack can be a real nightmare, no doubt. But what’s even worse is being compelled to pay the ransom again and again. 

A system vulnerability exposed by a ransomware attack can be difficult to close. As such, hackers will take advantage of this digital backdoor to demand ongoing payments in exchange for not inflicting any more damage to the company via the still-unpatched vulnerability. 

4. IoT Botnets

With more IoT devices making it to the market, IHS Markit, forecasts that 2030 will see 125 billion connected devices worldwide. Hackers will increasingly use these systems to launch attacks through botnets.

5. AI Security Tools

Hackers will be using artificial intelligence in 2018 and beyond to find vulnerabilities to exploit. As most businesses employ policy-based security systems that guard against known attacks, they will have trouble keeping up with AI scanning systems that, by their sheer nature, can adjust to new input and learn from experience.

6. Third-Party Breaches

In 2013, Target became the victim of a cyber attack. The conduit that allowed hackers to access Target’s computer gateway? A third-party vendor. In 2017, Target was forced to pay the price--a hefty $18.5 million.

As companies outsource more and more to compensate for in-house skills shortage, cyber attacks via third-party sources will continue to increase. 

7. Business Email Network Security Threats

Email as a form of business attack, while seemingly unsophisticated compared to the other forms of attack, is still very much a favorite among hackers. For one, they need not have advanced technical skills to launch this type of threat. All they need is the information of a company’s high-ranking official, which they can obtain from a networking event, for example, to trick unsuspecting employees to trigger a phishing email.

 

How Dynamic Computer Corporation Can Help

To guard your network against malware and other forms of attack, a system known as unified endpoint management is a strategy to seriously consider. BYOD (bring your own device) is still very much a trend and is only gaining strength. While this can result in significant cost savings and employee satisfaction, unmonitored or unprotected endpoints can pose serious security threats to your entire network. 

To learn more about unified endpoint management and other ways to safeguard your ecosystem from cyber attacks, book a call with a Dynamic expert today.

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