Cybersecurity experts have been warning us about the growing threat of cyber attacks for years, but it’s only recently that we’ve seen businesses realize just how bad the situation really is.
In the recent past, we have seen a number of cyber attacks that have caused significant damage to large companies and even small businesses. The impact of these attacks will be felt by every company in some way or another.
The most recent cyber attack was against Equifax, which was hit with a massive breach that compromised the personal data of about 143 million people. This breach has left many Americans worried about their personal information being stolen by hackers or other criminals.
Cybersecurity experts are warning that this is just the beginning of a wave of cyberattacks that could potentially cause major problems for businesses across the world. They are recommending cloud security should be a significant part of all tech startup ideas.
Here are six cyber attacks that could potentially harm your business:
1. Ransomware attacks
Ransomware is a type of malware that encrypts sensitive data on a computer or network and then holds it for ransom until the user pays to have access to the data restored. This type of malware has been around for years, but it’s recently become more popular due to its effectiveness at extorting money from victims. The latest version of ransomware was revealed in early December 2018, when hackers infected computers at major healthcare providers including St. Mary’s Medical Center in Virginia with malicious software that encrypted files on those systems before demanding $17,000 in bitcoin — about $3 million at current prices — as payment for their release by Dec. 7th.
2. The rise of weaponized bots
Weaponized bots are social media accounts created by cyber criminals or political groups that spread propaganda or misinformation through Twitter and Facebook accounts controlled by real people instead of bots themselves.
3. IoT devices will become more vulnerable to hackers
In the future, it’s expected that there will be more than 30 billion IoT devices connected to the internet worldwide, including cars and refrigerators — all of which are susceptible to hackers who want to steal data or access sensitive information about their owners’ lives. It’s estimated that there may be up to 3 billion connected devices in 2020 alone — so these numbers are only going to get higher as time goes on.
4. The next major cyber attack will take down an entire country’s infrastructure
A recent report from Symantec suggests that the next major cyber attack could take down an entire country’s infrastructure, which would impact everything from power grids to water supplies. This could be triggered by terrorists or organized criminals, but it could also be caused by hackers who hope to cause chaos or even destroy everything in their path.
5. Cyber-attacks on the supply chain
The most likely attack will be one that targets your supply chain, such as a cyber-attack on your supplier or a malware outbreak that occurs in that supply chain. To protect your data and that of your customers, ensure that you are adhering to the set cloud security measures.
6. Cyber attacks will increase in frequency and complexity
Cybercriminals are always coming up with new ways to steal your data, and they’re getting better at it too. A recent study found that more than half of today’s cyberattacks are successful because the attacker is able to exploit multiple vulnerabilities in their target.
So, what does this mean for your business? It means that if you are not prepared for a cyber-attack, you could be exposed to financial losses, reputational damage or even physical harm. The best thing to do is to always focus of cybersecurity strategies on all business decisions you are making.
