Cybersecurity Risks Affecting Enterprises

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Table of Contents

Introduction
Ransomware
Cyberterrorism
Increase in cyber theft
Reliance on third-party security
Emerging technologies
Conclusion
Works Cited

Introduction

During the recent decade, which has been characterized by a dramatic increase in the sophistication of technology, the quantity, as well as the quality of cyberattacks, have never been as noticeable. According to Harriet Taylor from CNBC, the global community is currently forced to deal with “an arms race regarding security” (par. 3). Thus, there are a variety of cybersecurity risks that threaten the global community as the proficiency of cybercriminals increases with each year.

While we still are dealing with “regular” security breaches such as password fraud, it is expected that the complexity of attacks and their targets will change dramatically. Therefore, it is crucial to explore cybersecurity risks to be prepared for anything.

Ransomware

Ransomware is a unique form of malware that does not allow access to the computer that it has infected. This type of malware has become very sophisticated and is predicted to attack the security software installed in cloud-based solutions (Google Drive, Dropbox, etc.). Apart from exploiting a user’s credentials, ransomware is also able to affect backed-up data, so it is impossible to restore it after the attack.

Cyberterrorism

Attacks on the energy-sector organizations are currently on the rise. What many don’t know is that an increased number of such attacks come from nation-states that want to disrupt the supply of energy and cause panic. From a national security standpoint, it is crucial to know and understand the nature of the enemy and be prepared for an increase in cyberterrorism attempts (Steinberg par. 5).

Increase in cyber theft

While stealing financial data is old news, there is a new opportunity for hackers that can attack innovative methods of paying for products, such as mobile and contactless payments. Hackers will search for retailers that have failed to secure their store payments and attack them. Even though for now there have not been many instances of such cyber theft, the severity of attacks will increase if retailers do not apply adequate preventative methods.

Reliance on third-party security

Recently, it has been reported that there were several security breaches associated with hackers targeting suppliers or vendors of companies they wanted to attack (Steinberg par. 7). By relying on third-party security, businesses appear at a high risk of being attacked, so companies must collaborate with their partners and establish guidelines for information security or, if necessary, find other suppliers or vendors that take security more seriously.

Emerging technologies

While the emergence of new technologies is indicative of ongoing scientific progress, the number of cyberattacks that target mobile, car, and Internet-of-things technologies is predicted to triple. Moreover, hackers are currently working on zero-day attacks, which means that they are planning to target previously unknown technological vulnerabilities and create loopholes in the current security systems. In such cases, there is a high need for technologies that will be able to identify irregular activity and prevent hackers from achieving success in their plans.

Conclusion

To conclude, there are plenty of cybersecurity risks that may affect businesses or even governments shortly. Thus, it is important to strengthen the security front and be prepared for the worst attacks on financial assets or personal data since preparing for mild security breaches has not been effective yet with the increased sophistication of the current hacking technologies.

Works Cited

Steinberg, Joseph. Six Emerging Cybersecurity Risks You Should Be Aware of. 2015. Web.

Taylor, Harriet. Biggest Cybersecurity Threats in 2016. 2015. Web.

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