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Cybersecurity Threats in 2021

Cyberattacks are costly and can hurt any business. Protecting your business is critical to avoid the huge losses that may come from these security threats.

To protect your business from these attacks, you must understand the various threats that you might face. Cybersecurity threats have become more sophisticated and harder to detect. They can lead to loss of sensitive data and downtime that affects normal operations.

Read on to understand the biggest cybersecurity threats for 2021.

Ransomware

Ransomware attacks both systems and data and can have devastating effects. Hackers have innovative ways to breach endpoint protection and attack company systems. A single ransomware attack can be detrimental as hackers demand exorbitant fees to stop the attacks.

During COVID-19, ransomware has emerged as a huge threat. Inadequate security training, an increase in use of personal (unprotected) devices by employees, and weak endpoint protection are factors that have contributed to a massive surge in attacks. The work-from-home model exposes many businesses to the risk of ransomware due to these weak spots in your company’s network.

IT cybersecurity reports suggest ransomware could cause damages exceeding $6 trillion in 2021.

Phishing Attacks

Phishing occurs when malicious attackers use a false identity to trick a person with an email containing malware. Cybercriminals hide behind COVID-19 to send out phishing emails to unsuspecting users. Malicious attackers send emails disguised as messages from trusted individuals. These messages contain enclosed malware that causes attacks.

The phishing emails coincide with anticipated or current events and disguise themselves as announcements, news, or even vaccine developments. Users who receive phishing emails may click on malicious links, allowing hackers to access sensitive data. One of the most successful phishing emails contain false links to Amazon deliveries or to Covid-19 related information.

The extensive communication through email, social media, and text messaging contribute to increased malware. According to Scan Watch, over $228,000 was lost to phishing attacks in January 2021 alone.

Remote Work Targeting

Since the onset of the pandemic, numerous businesses have gone remote. This has changed how employees access business systems.

The majority of employees use personal devices to access corporate systems. Most of these devices operate without considerable network security. They are less protected, allowing hackers to gain easier entry. Some employees use devices without the basic firewall and antivirus protection.

Due to this gap in protection, hackers have shifted attention to remote working. Their main targets include home networks, social media, and personal devices. Since home networks access virtually anything, they provide the weakest points.

Most businesses do not have premium grade firewall protection. Also, the lack of company policies related to personal devices, and inadequate employee training on cybersecurity makes it easier for hackers to infiltrate.

Data Breach Attempts

Most businesses have migrated to the cloud to allow seamless access and collaborative environments. Due to this recent rush, there are often misconfigurations. The majority of people implementing and configuring cybersecurity features end up getting it wrong. According to a McAfee report, hackers performed over 7.5 million attacks on clouds in the 2nd quarter of 2020 alone.

Hackers scan for cloud servers with weak protection to perform brute-force attacks. The major gateways for malicious attacks include unsecured VPNs and unpatched systems. The majority of them steal sensitive data, coordinate DDoS attacks, or plant ransomware.

How to Protect Your Business from Cyber Attacks

Fortunately, it's possible to bolster IT security and protect your businesses. All that you need is to employ well-coordinated cybersecurity strategies. Backing up data, automating patches, and implementing endpoint protection can help secure your networks.

To fully protect your business, you need a detailed cybersecurity report from a qualified IT company. This will assess your company’s readiness against cybersecurity attacks.

At Method Technologies, we can analyze your current IT cybersecurity and provide IT security solutions to help you prepare for the threats in 2021.

Contact us today, and Method can help implement the cybersecurity measures you need to help protect your business.