There has been a lot in 2018 that has shown just how bad cybersecurity attacks have been. There was the case of nearly $2 billion being stolen from the Punjab National Bank, the case of the breach of Coca-Cola that says data belonging to thousands of employees being stolen and so on.
Most of the time, according to 4 Cybersecurity Tips for Start-ups, most organizations actually have no idea when an attack is going on. Threats to businesses are continually growing and evolving. Things are moving so fast in the world of digital technology that it’s hard for security defenses to keep up. However, this is no excuse to slack on your security. We have put together a list of the most important threats to cybersecurity that you should watch out for as you enter 2019.
1. Ransomware as a Service
It is becoming increasingly easier for the average Joe to wage cyberwarfare without having to be an experienced and talented hacker. People now just need to know about ransomware, which is becoming easier and easier to use. In 2017 alone, there were nearly 200 million attempted cyberattacks, compared to less than 4 million just two years prior. We’ve all heard of the WannaCry ransomware attack that affected people all around the world. More recently many may have heard of the 4th of July attack by Sodinokibi against Kaseya.
2. Cyberattacks Sponsored by States
Because spying and hacking tools are becoming increasingly accessible to people, nations are also using them on a much larger scale than average. This is a growing strategy for both cyberoffense and cyberdefense. It is used to bring about unfair competition as well as get rid of fair competition. It is also used to compromise peace between nations. To do away with all of these, the threat of cyberattacks by one nation against another should be done away with.
Some of the state-sponsored activities being carried out with the tools of cyberwarfare include cyberwar, cybersabotage, unlawful state surveillance and cyberespionage. All of these are major threats to both organizations and entire governments. States prefer this method of attack because it is less risky, cheaper and more dangerous than conventional warfare.
3. Insider Threats
Not all cyberthreats are external. Sometimes, the problem is right there, within your organization. Many of the most successful cyberattacks are done from the inside. In fact, malicious people within your own organization are the greatest threat to the security of your data. This is because insiders are the ones who work the closest with your system and know all its weaknesses. While insider threats are not new, their threat has grown even more severe in time, and they are something you should be looking out for going into 2019.
4. Privileged Access
Privileged access management is something that is becoming increasingly important in the world of cybersecurity. Due to improper governance, it has been the cause of most of the data breaches of 2018. It’s not just about the employees who are directly responsible for the administration of systems and networks but also includes such people as suppliers, contractors and vendors. If any privileged account is compromised, the hacker can infiltrate the network with no one noticing.
Conclusion
A new approach needs to be taken toward security threats and a proactive strategy applied. Not only should privileged access be better governed, but advanced threat analytics should be employed as well. With better approaches, we will be better able to face this monster going into the new year.
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Contributed content
Founder Dinis Guarda
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