As the saying goes, there are two sides to every coin. While technological advancements have brought about the acceleration of digital transformations, which has allowed businesses all over the world to grow, it has also inevitably led to an increase in cyber security threats.
Moreover, the recent COVID-19 pandemic has forced multiple businesses globally to adopt remote work models. An increasing number of cyber criminals have been taking advantage of this to hack into organisations’ networks and valuable data.
Given the importance of cyber security, it is crucial for businesses to be aware of the emerging threats that could compromise their data protection and have measures in place to protect against them. In this article, we go over some of the common emerging cyber security threats and how you can safeguard your company’s network.
Internet of Things (IoT)
Due to the pandemic-induced shift from the workplace, many employees have brought their jobs into their homes, where most of them own at least one smart device.
The number of connected devices is known as Internet of Things (IoT). Forecasted to grow tremendously, the IoT has been recognised as a cyber security threat for a long time, because it provides cyber criminals with an increased number of potential access points to infiltrate a network or digital system.
In recent years, the IoT is also becoming much more sophisticated, with the introduction of “digital twins”, which are comprehensive digital simulations of entire businesses or systems. These models are frequently linked to operational systems in order to model data collected by them, and they may provide a gold mine of data and access points to individuals with malicious intent.
Ransomware and phishing attacks
Ransomware is malicious software that prevents a user or organisation from accessing files on their computer. Cyber criminals encrypt these files and demand a ransom payment for the decryption key, putting businesses in a situation where paying the ransom is the simplest and cheapest method to recover access to their data. Some ransomware variations have introduced extra capabilities, such as data theft, to entice ransomware victims to pay the ransom.
Ransomware is generally distributed through phishing attacks, in which employees are lured into submitting personal information or clicking a link that downloads ransomware software (also known as malware) onto a computer.
SMEs tend to be more vulnerable to these attacks, since many focus on the business’s operations and place cyber security lower in the list of priorities.
Protection against these emerging threats
Now that you understand a little more about the emerging cyber security threats, it is time to look for solutions to ensure your company’s data is kept safe and secure.
Having an effective and reliable cyber security strategy is essential for any business, no matter the size of your organisation. Endpoint security solutions are one of the most important aspects of a cyber security strategy because they protect all your organisation’s endpoints, minimising the number of avenues for cyber criminals to hack into your network. Some examples of endpoint security solutions that can protect your business against these emerging threats include firewall security solutions, email security and more.
For cyber security solutions, TYPENT has got your back. We are a professional Fortinet distributor in Singapore, specialising in firewalls, antivirus software, endpoint security components, and other cyber security solutions. Apart from these, we are professionals in the industry and can assist you in developing a customised cyber security plan for your company.
Protect your company from these emerging threats by contacting us today.