As the technology space continues to expand, more and more cyber security threats are beginning to emerge increasing your cyber security challenges. The COVID-19 pandemic presented a unique global opportunity for cyber criminals to exploit businesses who were adapting to the new world of remote working. As we move through 2022, there is a range of new and emerging cyber security challenges that your business needs to prepare for. Fortunately, as cyber defences become more advanced, there are several innovative technical opportunities organisations can harness to protect themselves.
What future cyber security challenges should you look out for this year?
1. Remote working vulnerabilities
2. Phishing attacks
3. Blockchain threats and cryptojacking
4. Internet of Things (IoT) attacks
Remote working vulnerabilities
The COVID-19 pandemic has changed the way that businesses work, potentially for good. Even as offices begin to reopen, most organisations are choosing to operate using a hybrid model. While this has ushered in new opportunities for increased flexibility, mobility and productivity, it has presented significant cyber security challenges too. Since the beginning of the pandemic, cyber crime has increased by 600%. Remote employees are operating on unsecured home networks, often using unauthorised, vulnerable personal devices. In order to ensure greater cyber protection for your hybrid workforce, implementing effective endpoint security is an essential starting point.
Phishing attacks
While they have become one of the most well known forms of cyber attack, phishing scams remain pervasive in 2023. According to a 2021 report from CISCO, phishing accounts for 90% of all data breaches. With at least one person clicking on a phishing link in 86% of organisations, they are one of the most significant cyber security challenges your business will face. One of the biggest cyber security challenges cased by phishing attacks is the widespread disruption they can cause as highlighted by the 2021 ransomware attacked on the HSE. The danger of phishing attacks is that they are always mutating and evolving, making them increasingly hard for employees to identify and avoid. For instance, in 2022, clone phishing has become more common. When clone phishing, cyber criminals intercept authentic emails, copy them and replace legitimate links with malicious ones. This can result in the unintended installation of malware, and place both the recipient and their entire contact list at risk.
Blockchain threats and cryptojacking
As blockchain and cryptocurrency are becoming more frequently used, they are presenting new opportunities for cyber criminals and additional cyber security challenges for you. Using a process called cryptojacking, hackers can gain access to a victim’s device and install malware called coin miner, which allows them to generate cryptocurrency illegally. The best way to protect against this form of attack is to ensure that your business has a strong IT infrastructure.
Internet of Things attacks
The Internet of Things (IoT) is a network of physical objects embedded with the ability to connect with each other and exchange data via the internet. As the IoT expands to include more common and day to day devices, such as smartwatches and printers, it creates an opportunity for cyber criminals to infiltrate previously secure networks. The expansion of the 5G rollout in 2022 increased cellular bandwidth and facilitated the growth of IoT networks. The IoT was set to reach 18 billion objects by the end of 2022, providing more vulnerable devices for hackers to target. This form of attack will continue to threaten the cyber space in the years to come, with data from IoT Analytics predicting the Internet of Things to grow to 30.9 billion devices by 2025.
What opportunities are emerging in the cyber security sphere in 2023?
As cyber threats are becoming more mature, defensive solutions are evolving right alongside them. For instance, big data analytics can be combined with machine learning and artificial intelligence to facilitate stronger cyber security. By analysing historical data, you can easily identify when there is a deviation from normal activity, thereby strengthening security controls.
However, the best way to prepare for common cyber security challenges is to invest in a comprehensive defensive strategy. Managed security services from BITS ensure that your company is secure on all sides. We provide all the solutions your business could need, from email and network security to mobile device management and encryption. With more than fifty years of combined experience, our cyber security experts have the specialist knowledge to prepare your business for the cyber security challenges of the present, and the future.
If you would like to start overcoming your cyber security challenges today, book a meeting with one of our representatives. or click below to see how we helped one of our clients overcome the challenges of remote working.
