These risks will lead to significant costs for businesses this year and beyond. You should also be on the lookout for insider attacks, errors by employees, and cloud breaches. And because attacks are getting more expensive to address, these events are also going to cause huge financial headaches for many firms and organizations. That’s just the reality of the ever-increasing volume of attacks and constant (malicious) innovations made by threat actors. If your business hasn’t experienced a cyberattack yet, it probably will soon. Organizations can stay one step ahead of scammers, fraudsters, and criminals with these four tips. Tips to prepare for a changing cybersecurity landscapeĬyberattacks have become more common, complex, and expensive, but that doesn’t mean all is lost. Organizations have realized they needed to inventory their IoT devices to protect them against exploits, making IT’s job more complex. The issue is that many organizations rely on IoT devices to do better business, but managing and updating these devices is challenging. Everything from your office printer to the smart fridge in your breakroom to an employee’s Fitbit could lead to an attack without the proper precautions. And to make matters worse, these devices are quickly becoming ubiquitous. Attackers exploited IoT devicesĬybercriminals have realized how easy it is to exploit Internet of Things (IoT) devices, especially those with out-of-date firmware and poor security capabilities. With soaring inflation and a potential recession on the horizon forcing many organizations to look for ways to cut costs and do more with less, this trend could not have emerged at a worse time. It’s also estimated that attacks on software supply chains will triple between 2021 to 2025, a trend that we expect will only accelerate with each passing year. In the U.S., the average data breach cost $9.4 million in 2022-the highest in the world. If that wasn’t bad enough, the average cost of cybercrime has increased substantially. For example, pro-Russian ransomware as a service (RaaS) activity increased dramatically, holding businesses’ data ransom as a means to raise funds for their cause, while hacktivists including the collective Anonymous began targeting companies that failed to immediately cease doing business in Russia. This trend was on full display after the Russian invasion of Ukraine in February 2022, which resulted in not only a grueling armed conflict, but also saw widespread use of cyberwarfare tactics on both sides and a tidal wave of politically-motivated cyberattacks by third-party actors.Įven if your company has nothing to do with the government, utilities, or the war itself, you still may have experienced the ramifications of an uptick in cyberattacks. The world’s powers now have access to advanced cyberwarfare capabilities-and so do some non-governmental actors and hacker groups. Geopolitical tensions are arguably higher than at any point since the Cold War, but the technology used to wage conflict has changed significantly. Geopolitical issues threatened international cybersecurity Keep an eye on these three big trends changing the face of cybersecurity as we know it. Whatever sort of run-in you have had with cyber risk (or, if you are very lucky, have not had), the global cybersecurity landscape is an ever-changing beast, and it’s only expected to grow more complex.īeing informed of the latest developments and threats on the horizon is the best way to ensure you’re staying on top of the cyber risks facing your organization. Or maybe you found yourself on the receiving end of a politically motivated ransomware attack. Maybe hackers found a new and novel way to squirm into your systems. Maybe your organization has been the victim of a supply chain attack, or saw one of your major suppliers shut down by one.
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