As cyber security horizons continue to expand, new risks and dangers are emerging on a daily basis. Cyber security expert John Donovan revealed for CEO Magazine the most destructive threats that threaten businesses in the meantime.
Every year, the number of victims of cyber crime is increasing, both for individuals and businesses. Hackers are targeting small, micro, large companies and even the largest organizations that you might think are inviolable. In Australia, for example, in 2019, it listed nearly 1,000 hackers that resulted in data loss. Forecasts indicate that the cyber security market is expected to reach $ 133 billion by 2022.
A new kind of unknown threat
In recent years, malware has certainly been the first among hacking activities. It adds several names to its list of victims each year, including large corporations. This year, one of the biggest hackers has been recorded by companies Bouygues Construction, Talman and Travelex, where all these companies have had devastating consequences.
Against this background, all businesses and managers should pay particular attention to malware. It is very difficult to fully protect your information, and it also depends a lot on how skilled the hacker is on the other hand. Donovan advises all entrepreneurs that the key to maintaining security is a robust security system that covers all exit and entry points, networks and virtually the entire system. Another important tip, however, is that security software should be updated regularly if possible as soon as an update is available. Let's take a look at what Donovan believes is one of the biggest cyber threats this year.
Wrong cloud settings can put you at risk
Cloud computing is a ready-made environment targeted by hackers. Just small setbacks can put organizations at high risk – cybercriminals are well aware of this and that's why they have started targeting cloud platforms. Businesses (those who are not yet aware) need to be seriously aware that cloud protection requires a different approach that they may be used to, and is a top priority when designing cloud strategies.
Machine learning can turn against you
Machine learning has become a key part of most modern cyber security strategies and cyber criminals are aware that their targets use a variety of tools to defend against attacks. The response from hackers is (and will be in the future) that they will try to bypass these security systems – nothing new, right? This year and next year, cyber experts expect more hacking attacks. Businesses need to be prepared for this, because machine learning, however useful for a business, can quickly conspire against.
5G technology will bring a new wave of security threats
According to experts, 5G technology is expected to be the biggest game-changer in cyber security, perhaps even up to this point. 5G technology promises to connect almost every aspect of life across the network, quickly and seamlessly. However, it is worth pointing out that this same revolutionary technology will bring great security risks that will reveal the shortcomings of companies. New types of malicious attacks can be expected. This means an urgent need for businesses to focus more on the security of connections, devices and applications within their organization.
Cyber security is a complex area with many components. There is no doubt that the business world will be increasingly pressured by such and other cyber risks. The fact is that not all entrepreneurs are cyber security experts, which means that they must at least have basic education and employment for people who are experts in the field. Only in this way will they be able to improve the overall security of the company.