Cybersecurity risks are not getting slow because cybercriminals are evolving their techniques, as well as security, is emerging. A wave of technological advancement in the 20th century changed the IT infrastructure globally- from private to sharing and from offline to online. In the dawn of the digital revolution, hackers were reborn and started their activities of hacking for ransom or confidential data. Data breaches were ranked as the most dangerous security risks by technology experts because they put thousands or millions of users in crisis.
A non-profit organization, Information Security Forum (ISF)- dedicated to research and analysis of security risks, released a report for risks in 2019 and stated that 4IR (Artificial Intelligence, Automation, Internet of things and Robotics) technologies are urgency needs for updating cybersecurity measures. Installing these innovative technologies will reshape the future of every business.
Following are some of the cybersecurity risks that a business should watch in 2019 and take appropriate measures to mitigate them:
Internet of things (IoTs):
Internet connectivity into physical devices and everyday objects so that these devices can interact with each other over the internet and can be controlled and monitored remotely is the internet of things. IoTs is becoming the hottest trend in 2019 and massive use of it is creating opportunities for hackers to take control over it. Inadequate security measures stemming from weak points is an example of an architectural flaw in IOT.
Deploying security systems properly and awareness can ensure that threat is under control.
Single Factor Passwords:
Single factor passwords are largely used by organizations to authenticate their employees and users. Single factor passwords are a tremendous security risk because they can be compromised easily. Cybercriminals use social engineering and various other techniques to bypass authentication.
Organizations must be very serious about this risk and substitute this authentication method with multi-factor authentication.
Hacking has been a concern for a long time for organizations and this theft is never going to stop. Hacking is becoming more advanced as hackers started using ML and AI in their criminal activities. Hacking is caused when a hacker gets credentials to access a system or he becomes able to find a vulnerability in a system.
Organizations can secure their systems by restricting access to individuals according to their need. Any organization should deter unauthorized access in its network, update software and upgrade devices on a regular basis.
Loss of data:
Data may get lost due to alteration, deletion and use of unreliable storage and this may have serious implications i.e. loss of reputation, customer and finances. And dissipating any of them can cause the permanent failure of a business.
To curb this a business should create strong API security and use SSL encryption to secure data.
Malicious software refers to the software that the owner of a system is not aware of. Hence, a malware attack is the most preferred attack by hackers. Reasons behind how a system could become the victim of a malware attack are the usage of removable media in and out of company premises, file-sharing software and other free software to save the cost of licence.
Put a strict security mechanism and compliance to prevent this attack. To Know your customer and employee use identity verification services with the security you need to combat malware attack. Aware your employees and client not to click any suspicious link that could harm your system.
Cloud storage is need of time but it is very susceptible to abuse. Most of the time it has no secure registration process and this simplicity makes the cloud vulnerbale. Spam emails and malicious attacks are very common in the cloud.
Organizations can mitigate this risk of attack by developing authentication and secure registration process. Monitoring credit card transactions and network traffic are also essential to eliminate cyber abuse.
Proper measures and investment for security is the key point to prevent any risk in 2019. Ignoring small issues and using free software can end your business with no gain.