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What Are the Latest Cybersecurity Threats to Businesses?

Cyber security lock graphic on a virtual circuit board.

Barracuda Networks, an IT security company, recently patched a vulnerability in its email software, but not until after attackers exploited the weakness by installing malware in user networks and stealing data.

Unfortunately, zero-day and other vulnerabilities are common threats to today’s companies. And the average cost of a data breach is expected to soon exceed $5 million.

Cyber attackers are always looking for ways to steal data or plant ransomware for financial gain, and the current threat landscape is extensive and complex. This blog will talk about trending threats and what our cybersecurity management team advises you can do to protect your company.

Vulnerabilities Pose Ongoing Threats

Significant and high-profile vulnerabilities are exposed all the time, often after attackers have exploited them by gaining access to systems and stealing data or committing some other malicious act.

These kinds of attacks usually aren’t targeted. Breaches are often the result of opportunistic attackers, so every organization needs to be on guard against such vulnerabilities.

Phishing and Social Engineering Increasing

Phishing and social engineering are currently some of the most common threats our cybersecurity consulting experts battle. They’re also becoming more pervasive, effective, and persuasive thanks to the use of improved artificial intelligence (AI).

Phishing tactics involve tricking or convincing people into clicking links, opening attachments, or downloading files that contain malicious code or software. Social engineering involves manipulating individuals into sharing sensitive or confidential information or even providing access to company systems.

Protecting Your Organization From Cyber Attacks

Simply connecting to the internet puts your company at risk of being scammed or breached, and there will always be bad actors trying to exploit vulnerabilities. The right technologies can help keep criminals out, but it’s important to first understand your organization’s risks. For example, financial institutions face different risks than retail shops, so the cybersecurity management tools and tactics they choose may be different.

Start with a cybersecurity risk assessment that evaluates the kind of impact a hypothetical security incident would have on your organization’s ability to fulfill its mission. The hypothetical incident could be ransomware, a data breach, a distributed denial-of-service (DDoS) attack, a multi-factor authentication (MFA) fatigue attack, or another type of attack. How would it affect your financial or operational objectives? Your answers will help you design cyber defenses to prioritize your assets and mitigate the biggest risks.

Consider conducting an annual risk assessment to stay up to date on your company’s risk profile. Then update your safeguards to ensure they’re still relevant and effective for the current state of cybersecurity.

In today’s hybrid work environment, it’s also important to implement a zero trust approach. This means your network won’t trust a user or a device based on location or other identifying information. Every user and device is granted limited network or system access with the lowest level of required permissions for the least amount of time.

Work With a Cybersecurity Consultant

An IT and managed cybersecurity services provider like Corsica Technologies will help companies customize a security solution. As part of our services, we’ll also help your organization maintain compliance and good cyber hygiene. It’s easier and less costly to prevent and defend against attacks than to deal with the fallout of a breach.

Are you worried about vulnerabilities in your cybersecurity? Schedule a security assessment with Corsica today.

Ross Filipek
Ross Filipek is Corsica Technologies’ CISO. He has more than 20 years’ experience in the cybersecurity industry as both an engineer and a consultant. In addition to leading Corsica’s efforts to manage cyber risk, he provides vCISO consulting services for many of Corsica’s clients. Ross has achieved recognition as a Cisco Certified Internetwork Expert (CCIE #18994; Security track) and an ISC2 Certified Information Systems Security Professional (CISSP). He has also earned an MBA degree from the University of Notre Dame.

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