Three Emerging Cyber Threats Facing Businesses Today

Investors and IT experts describe cybersecurity as one of the biggest concerns facing modern enterprises. Despite the efforts to fight off cyberattacks, they are still becoming more prevalent, destructive, and sophisticated. Modern businesses rely heavily on data and computing systems. Unfortunately, these valuable resources have now become the prime targets of this new breed of criminals.Cyber Threats Facing Businesses Today

It is in your business’s best interest to ensure that you have a robust and effective cybersecurity system. Luckily, cyber security services are always at hand to provide the much-need tools and knowledge to defend against cyber-attacks. Below is a list of three emerging cybersecurity threats that you should know about as you protect your data and IT infrastructure.

Shadow IT

Shadow IT refers to any device or software running in an enterprise IT system without being detected. These are the likes of hidden spyware and undetectable phishing tools. Shadow IT is not exactly a new threat, but advances in artificial intelligence (AI), machine learning (ML), and cloud computing have led to an unprecedented evolution of shadow IT. Nowadays, traditional spywares have grown into powerful, manipulative tools that could even reside undetected among hosted services.

Cryptojacking

Cybercrimes are not just about data breaches; cybercriminals can also steal computing power and energy. Cryptomining, which is the mining of cryptocurrencies, demands immense computing power and electrical energy. Unsavory hackers have come up with ways of using powerful enterprise resources such as workstations and servers to carryout cryptomining for them. This is what’s known as cryptojacking.

Cryptojacking may not sound very threatening. Still, it could cripple the performance of your IT infrastructure, possibly damage your hardware, and create vulnerabilities in your system, not to mention the spikes in power bills. It’s essential to keep track of your IT performance and power requirements to identify such threats.

IoT Hacking

The Internet of Things (IoT) refers to the interconnectivity of intelligent devices such as smart security systems, appliances, phones, and computers through the internet. Though useful, the implementation of IoT is a relatively new concept and lacks a substantial security standard. Different brands and gadgets have varying security policies, which are often not inter-compatible – leaving exploitable security loopholes. This is especially risky in IoT systems linked to high-profile organizational networks.

Cybersecurity has grown to a necessity for businesses dealing with sensitive and confidential data. As a business owner, you simply can’t afford to make compromises on your cybersecurity strategies. Many organizations never recover from data breaches and those that do pay a high cost.