Thursday, January 27, 2022

Cyber Security threats to mitigate in 2022

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Global cyber crime are expected to increase to nearly 350 $Billion by 2026 worldwide.  

Some of the cyber security threats that you can mitigate are:

 Remote Work Attacks: Within the organization’s set up, one can mitigate the common cybersecurity risks through a firewall, employee awareness, and stringent policies etc. However, when employees are working remotely, putting up cybersecurity measures becomes difficult. A recent survey from the UK and US-based security firm, Tessian, found that 56% of senior IT technicians believe their employees have picked up bad cyber-security habits while working from home. Some of the top cybersecurity risks associated with remote work include unsafe networks, use of personal devices, human error etc. Implementing security measures such as VPNs, anti-phishing tools, anti-virus, constant employee education etc. can help to mitigate the risk to a great extent.

2.       Cloud Vulnerabilities: Organizations are rapidly using the cloud to fast-track their digital transformation journey. Despite the increasing adoption of cloud, the data security still remains a key concern for many enterprises. Some of the top causes of cloud vulnerabilities are improper management of RDP (Remote Desktop Protocol), misconfigurations, weak authentication, and shadow IT use etc.

3.       Internet of Things (IoT) Vulnerabilities: Digital transformation is about becoming data-driven. The IoT is one of the key providers of that data. IoT devices are vulnerable mostly because they lack the necessary built-in security controls to defend against threats.

4.       Double Extortion Ransomware Attacks: The traditional story of ransomware was one of malicious code rapidly encrypting files with public-key RSA encryption, and then deleting those files if the victim did not pay the ransom. In addition to demanding a ransom to decrypt data, attackers can later threaten to leak the stolen information if an additional payment is not made.

5.       Credential Stuffing: Credential stuffing is a cyber-attack in which credentials obtained from a data breach on one service are used to attempt to log in to another unrelated service. The main reason that credential stuffing attacks are effective is that many users reuse the same username/password combination across multiple sites. If this practice continues, credential stuffing will remain a serious threat.

A flurry of new threats, technologies, and business models have emerged in the cybersecurity space as the world shifted to a remote work model in response to the COVID-19 pandemic and has subsequently moved to a ‘hybrid’ work culture. So we need to keep a look out for the same.

If you have an interesting Article / Report/case study to share, please get in touch with us at editors@roymediative.com

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